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Cnew02

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About Cnew02

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    Hive Mind Level 4 Worker: Builder Bee

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  1. I’m hoping that it gets dealt with at some point as the publicity spreads. I did read an article last night where they interviewed the CEO of the company and he said they were advising people to switch providers ASAP, away from his own company, which was crazy to read. Even he isn’t happy about this. I don’t know how realistic that is though, that people can switch right this minute. I am seeing more stories about it this morning so hopefully it gains some traction.
  2. That makes a little more sense then, thanks.
  3. Has anyone seen this? A Texas man says he is getting an $8000 electric bill after his electric stayed on during all of this. It’s not being widely reported though, so I’m not sure if it. https://www.google.com/amp/s/www.newsweek.com/one-texas-resident-still-has-power-his-bill-now-over-8000-1570343%3famp=1
  4. I have a friend who sent her realtor to knock on the door of a certain house that she really liked. The realtor did and the people were thinking about selling and were thrilled to not have to get it ready and do showings. It worked out great!
  5. My 6 ft tall teen likes the store brand t-shirts at Tractor Supply of all places. They are just the right amount of extra length in the waist and arms and the right amount of extra in the shoulders. They also meet his criteria of being solid colors with no brand logo anywhere visible.
  6. I don’t know, they create financial instruments all the time. Maybe not hedge funds, but “big finance”. Remember mortgage backed derivatives that nearly destroyed the works economy last decade? Those weren’t exactly ages old. And I’m sure that’s all the same thing. I’m not nearly Sophisticated enough to understand all of it of course. The upper upper crust finds new ways to make money from money all the time. It’s still fun to watch the hedge fund guys squirm on TV whining about the meanies on reddit.
  7. Sure, that’s why I mentioned the other reasons. And cynical answers usually are simplistic. It doesn’t change the stink of elites circling the wagons. Which just adds to the stench of the ultra rich hoarding money, resources and opportunities while the rest of us are powerless. That’s why there’s so much schadenfreude at watching it all.
  8. I agree with this...and yet...it’s still frustrating that if a hedge fund comes up with a new crazy way to make money it’s totally fine but it needs to be stopped if little guys do it. It really feels like protecting the rich. Because if the Redditors had pooled their money into a “Reddit HedgeFund” and hired a fancy manager and did this same thing it would be fine.
  9. I think RobinHood specifically is kind of besides the point. The SEC is talking about stepping in, other trading places are stopping trades on this. Why? The cynical answer is ...because it’s hurting the hedge funds who have the power to stop it. Which is just 100% the game being rigged against the little guys. I’ve heard other reasons given about market volatility and other things. But the cynical answer still remains and it still rankles.
  10. No. What is happening is pure stock manipulation. It is just happening in a new form. The "big guys" vs "little guys" argument is being used to justify financial shenanigans that are exceedly destructive. I don’t necessarily disagree with you. It is frustrating that when “little guys” figure out a way to make money in the market by beating the big guys at their own game it causes hand wringing, but it’s “just the way things are” when the big guys do their thing. No one worries about the big guys potentially hurting little guys. That’s just accepted.
  11. Because they changed the rules of the game midstream. It’s more like a grocery store refusing to sell you an item after you have put it in your cart and waited in line. And it’s not RobinHood is just randomly deciding that you can’t buy *only this particular* stock for no reason. The Hedgefunds are all over TV whining about this. It certainly seems that RobinHood is protecting the HedgeFunds from losing money. Im sure their TOS allow them to do it, I’m not arguing that. I’m just saying it’s not a good look for RobinHood and their customers have a right to be upset. It’s RobinHood
  12. According to The NY Times at least one hedge fund lost a lot of money. it’s also not just Redditors with some extra money, there’s real money behind this. The narrative of bored kids with their stimulus money doesn’t appear to be accurate. At least one guy invested $50k. He got out with $40 mill. That’s not pocket change. One of the hedge funds that had shorted GameStop’s stock, Melvin Capital, had to get a $2.75 billion bailoutfrom two other investors after it was hammered with huge losses. Depending on whom you ask, the GameStop saga is either a cautionary story about a bunc
  13. Not that I’m aware of. That’s why people are crying foul. It seems like RobinHood and the rest are giving special treatment to the hedge funds.
  14. I was talking about the rise of RobinHood in general when I mentioned boredom. For months its been a topic on some of the economics podcast that I listen to. Trying to tease out if its more of a game, more of day trading thing, is it good, is it bad. Some put RobinHoods popularity and growth down to the pandemic and boredom because it has grown so much so quickly. I haven't heard the basement dweller thing in relation to this at all, outside of the post here earlier. Mostly what I'm hearing is that it's young professionals, white-collar types who still have a job and now have no where fu
  15. I keep hearing the theory that the people on Robin Hood are mostly bored because there’s nothing to do right now with the pandemic so they are playing with stocks. I used to read about “playing with penny stocks” and I think the RobinHood people are doing that on steroids. Young people that still have jobs and have no where to spend money right now are gambling with stocks. I guess I don’t see the harm in it? If they put in $100 a month in to gamble with it’s not really much worse than drinking it away in the bar. Am I wrong? I don’t think it’s a good investment strategy, but assuming th
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