Investment & Investing

Over $1.2 billion dollars.

That’s how much Ryan Cohen, who bought a stake in GameStop last year with the project of turning towards online sales more, has seen his net worth grow just on GME.

Tons of publicity leading up to a PS5 delivery today. What would it take to make GameStop compete with the likes of Amazon? An extra few billion in valuation can’t hurt.

His net worth was increasing by $4 million an hour or something ridiculous.

Wsb open letter about CNBC and other media coverage. Not of my authorship, the views expressed therein are their authors’, sharing for wider discussion here.

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On paper yes.

In reality the stock would tank as he tried to realise that position, the order book is nowhere near that strong. I doubt he could get more than ~$250mm for his holdings.

Nothing to grumble at though...

For context, CNBC’s productions:

https://m.youtube.com/watch?v=vyXhkItwxP8

Edit- also CNBC:

https://mobile.twitter.com/SquawkCNBC/status/1354386200157675521

Market manipulation? 🤔🤔

Thanks for the replies everyone. I do get the guy has to make a living and I don't begrudge him making money this way. I just get the feeling that a lot of people will get burnt when this is all over and this guy will be a millionaire. Those people losing out will be those people singing his praises now.

Pre market has shot back up to ~$369

I just get the feeling that a lot of people will get burnt when this is all over and this guy will be a millionaire.

Rules #1, 2 and 3 are don’t invest what you can’t afford to lose. Some people put their money in the hands of experienced fund managers like Mr. Left at Citron who’s lost his clients billions because Citron et al were overly greedy; some people decide to take the risk into their own hands. In both cases, investors decided how much of to put in, and could have lost everything.

I’m sure Mr. Left did everything he could to reassure his clients, cursed and screamed while he lost them billions, and eventually went home in his fancy car to a posh house and an expensive dinner. Democratising the risk takes power away from reckless fund managers like him.

Edit2- I guess what I’m trying to say is I feel 0 pity for that shithead, some pity for his investors, and shared anxiety for the new retail investors. Those last ones are the only ones who really have any truly free choice this time though.

Edit3- curtailing rant.

the best of the best of british fund managers went tits up the last couple of years after investing in stuff he couldn't get out of / illiquid stocks, crashed his well performing funds with unwise investments

$425...

invest

They are not “investing” though. They might think they are. Which is a problem.

Actually, isn’t the rule do not gamble what you cannot afford to lose? Which is fairly accurate in this context.

The forum is WSB after all.

is it worth buying at this stage? I put in a bid last night for £500 worth but might pull it before they reopen

Memes thread crossover https://www.instagram.com/tv/CKk43sppG4E/?igshid=2981bwlun59

$470...

Read WSB. Do some digging. Only you can decide. I really don't think we've seen the start of the squeeze yet, though... NOT FINANCIAL ADVICE.

Here's some wider context:

https://www.ft.com/content/0a58b63a-4294-3e07-8390-c3aabef39a26

Rules #1, 2 and 3 are don’t invest what you can’t afford to lose.

Absolutely, but does that mean those people who have got caught up in the hype etc deserve to lose their savings etc? This is what concerns me.

Any chance of a summary for non-subscribers please?

This has all come at a time when I do have some extra cash. I'm not going to jump on the GME rocketship, but I'd like to start investing a little bit (specifically in some US stocks). Any recommendations for which platform to use? I know this has been asked before but I'm based in the Netherlands, wondering if that makes any difference.

Give trading212 a go...

Referral link gives us both a free share up to £100: http://www.trading212.com/invite/GcCLvtaN

It's nobody's call but your own whether its worth it, but IMO at the current price risk/reward has tipped to the wrong side... this is not financial advice!

NOT FINANCIAL ADVICE

I wouldn't jump on this now. While it could see more of a pile on the goal was to prove the shorting fund could be 'beaten' now that's been achieved it's likely everyone will be getting nervous and eyeing the inevitable return of gravity.

I'm pretty conservative though, depends on your risk profile.

yeah, obviously would have been good to get in on it a few days ago, just banking on it going up some more, which it looks like it probably will from what I have seen. but then I'm no expert

I'd like to start investing a little bit (specifically in some US stocks)

Read up on the parallels between what we're seeing now in terms of trading volumes and valuations vs what was happening around the dotcom bubble.

The FT are running a whole series called 'Runaway Markets'

This is useful for reading the articles

Again, not financial advice.

Basically, when Lehman Brothers tanked in 2008, everyone panicked and shorted everything that hadn't gone under. Including Volkswagen, who were somehow hovering around €200 a share. People doubled down on their shorts expecting imminent gainz, just like GameStop. But then Porsche announced their massive holdings, and the market realised there weren't enough available shares to cover the short positions. Ensue panic, and massive price rises.

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