Oso planning to go pro
Kara Swisher and Scott Galloway have been dragging Robinhood for months on their podcast. Hard to imagine there is a more clear cut case of collusion than RH only allowing retail invests to sell shares while the HF's could trade freely.
So my son, who is less financially literate than I am and I only dabble in indexed funds because I know that I don't know enough, told me that he purchased GME through his Robinhood app a couple days ago. $50 worth. As did a bunch of his friends.Why? "To screw over the hedge fund guys."I think there is A LOT of that thinking going around.
Props to your son FBM. This is an amazing story.
Thanks. I love the kid, but I am going to spend a part of my day tomorrow helping him with his taxes because they are "hard for him to figure out." Dude's 23 with one W2 form. I don't think this is a guy who should be playing the market.
Ha....touche. Or it could be that he has a massive portfolio, as well as an K-1 trust form, and needs your expert tutelage. He may just want your accountant free of charge?
Somewhat similar, my younger daughter was reading the story on this last night and was telling my wife she was happy because "the regular people are screwing over the capitalist's."Something along those lines. My wife and I just looked at each other speechless wondering where that quote came from.
Schedule D is as complex as I get. And if he has that, we are going to start charging rent.
I spent a little more time scrolling through WSB the last day or two, and I'm amazed there hasn't been any talk about how awful these guys are. If I'm anyone with some credibility commenting on this situation, I'd make sure to distance myself from this group immediately. It's one thing to root for the little guy, but Im having a hard time seeing how people want to support these guys in particular.
Why?
You must have spent much time on the subreddit if you're asking. Toxic is an understatement for most threads.
I have spent zero time. Thus why I'm asking someone who has spent time there.What's toxic about it?
That’s why I’ve been bemused in this thread earlier about people fawning over them and their “crusade”. They are out to make money and screw those against them, in this case it’s hedge funds which make them media darlings. It’s certainly not altruistic or with any greater sentiment of “good”There is some good insight from some people, like DeepValue quoted earlier. But most threads and most members are like any gambling subreddit. They call any bearish investors or positions a “(rainbow emoji)(bear emoji)”. It’s exceptionally juvenile, crude, and antagonistic.It’s hilarious to see AOC jumping on board their “mission” cause ive seen that sub absolutely brutalize her repeatedly in a pretty harsh manner, and that’s coming from someone who largely can’t stand her
I'm not defending them, but I'm surely not going to lump them all into a group. Quite a bit of money has been donated from people's gains. Generally, their 'schtick' is awful.I think it's okay to defend what they are doing and not condone their juvenile pathetic behavior. They all think they're Jordan Belfour. They have nothing in common.