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Apparently Gamestop can’t do new shares. Apparently they are in an enforced quiet time close to earnings report, and no shares are allowed to be sold in that time too.
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there was an option trade detailed yesterday that allowed people using robinhood and other trading platforms to buy options, exercise immediately and get a hundred shares at a decent price, got people around the trading limits and pushed the price up at the end of the day according to wsb
this was for approx. $30k lots ( about $300 / shares ) so not for the one share buyers still though
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To change topic from the /wsb saga (although I appreciate that is probably a more gripping storyline) - I have some cash to invest from end of year payments from work.
What are people's views on dropping it into a Vanguard or similar in a lump sum now or drip feeding?
Looking at charts, it feels like I'd be buying in at a bit of a peak, but then again it does nothing for me in my current account, and I could get it in before the ISA deadline....
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Unless you are using an ISA as the equiv of a pension and need to max it out every year I wouldn't let that sway the decision too far. Tax free advantages on smallish amounts aren't too compelling.
I have a similar 'problem' - big wodge of cash but don't want to lump it all in at the top. So thinking at the moment of dripping a chunk every month.
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Yeah ISA cap probably isn't the most critical part, but if it's too rate if not in the ISA I could see the advantage...
It's the same concern I had though, what if this is the top! Valuations look huge at the moment. But @dt thanks for the article - weirdly it seems to conclude that the single punt is more likely to be successful but steers towards the drip feed anyway
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Traditional investment wisdom dictates that you can't 'time' the market, but counteract that with 'entry point is important'.
Right now, in case it wasn't obvious from my previous posts and sentiment in some of the financial press, equity markets are veeeery frothy.
Sentiment amongst multi-asset managers at the moment seems to be somewhat positive for the year ahead given the expectation that economies will bounce back as vaccination roll-outs progress, free money from central banks, etc. BUT, how much of that is already priced in to current asset prices? I'd say most of it.
Whilst sentiment for the year remains cautiously positive, right now they are 'risk-off', i.e. Not piling in to equities.In short, wait for a correction then get in. You won't time it perfectly but if invested for long term it doesn't matter, but getting in near the top will hurt. Once your lump is in, continue adding regularly.
NB - Not financial advice.
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2/3 of the time is most, but 1/3 is not nothing!
As ever, it depends on timing, right?
My temptation is to do 50% now then drip the other half.
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Good point - yep I could shift the funds to vanguard now then allocate as appropriate...
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Enjoy your weekend before it all begins again on Monday!!!
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Caveat emptor: don’t believe everything you read on the internet, especially reddit and especially right now.
Not wanting to turn the convo back to GME, but with so much chatter online, does someone have any previous insight into these thoughts?
Summary: retail investors might own such a large % of GME shares (up to 100%) that it proves Wall Street investors have been counterfeiting shares, and using them not only to sell but to manipulate the market; this might be a dangerously widespread practice that’s flown under the radar.
Additionally, a linked SEC report (edit- commentary, not a report) about the role of counterfeit shares causing the spectacular failure of Fannie Mae and Freddie Mac, leading to the 2008 crash.
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counterfeit shares
Wut?
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I would think most of the shares would be electronic or held by DTC.
What Is the Depository Trust Company (DTC)?
The Depository Trust Company (DTC) is one of the world's largest securities depositories. Founded in 1973 and based in New York City, the DTC is organized as a limited purpose trust company and provides safekeeping through electronic record-keeping of securities balances. It also acts as a clearinghouse to process and settle trades in corporate and municipal securities. -
@ElGonzo @dt - Would the same apply to money going into a pension? I'm transferring a decent lump sum from my underperforming Scottish Widows pension to my Vanguard SIPP. Initially I set it up to just invest into a target retirement fund straight away, but might I be better to hold off and drip feed it in?
Edit - should add, I'm a way off retirement, it's a 2050 fund.
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Personally, I would hold off a few months for a correction and then feed it in over the course of 6 months or so. But then again that correction may not come all that soon or be substantial enough to really matter, particularly with a target retirement of 2050.
I wouldn't lump it all in right now though. -
interesting to see how many fails there were in gme ( thats possibly where the " counterfeit " shares are ) and also that clearing system would automatically buy in / settle the fails 14 days after settlement date
that could send things nuclear once forced buying starts happening and no one sells
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Posted by
@spiderpie
According to the guesstimate of Stock Markets With Bruce the shorts will take at least a week to try and escape the whole of the short squeeze. Unless GME files a share issue, and then all bets are off.