Investing Thread (Stocks, Crypto, Real Estate, Whatever)

[SuburbanFarmer]

Live link to the GameStop hearing today.

https://www.zerohedge.com/markets/watch ... ed-hearing

[C-Mag]

Live link to the GameStop hearing today.

https://www.zerohedge.com/markets/watch ... ed-hearing

Congress going to get to the bottom of how a bunch of plebs put the squeeze on their friends

[SuburbanFarmer]

Live link to the GameStop hearing today.

https://www.zerohedge.com/markets/watch ... ed-hearing

Congress going to get to the bottom of how a bunch of plebs put the squeeze on their friends

Robinhood: sorry, we’ll do better.


These idiots can’t even figure out how to mute themselves on a video call. The call is barely coherent.

[SuburbanFarmer]

Live link to the GameStop hearing today.

https://www.zerohedge.com/markets/watch ... ed-hearing

Congress going to get to the bottom of how a bunch of plebs put the squeeze on their friends

Couple of them actually hit on the fact that the stock was shorted to 150%. Answer from the hedgies: ‘dunno, we always had a match. SEC says we have to’.

Funny that they don’t have a witness from the DTCC that’s supposed to provide those matching shares.

[DBTrek]

Live link to the GameStop hearing today.

https://www.zerohedge.com/markets/watch ... ed-hearing

Congress going to get to the bottom of how a bunch of plebs put the squeeze on their friends

It's a highly technical process known only to an elite few called "You shorted more stocks than exist, thereby promising to buy them later at whatever price they were going for. That's right. You. promised. to. buy. more. shares. than. there. were. in. existence."

How ever did the plebs figure that one out?
Pure mystery.

[SuburbanFarmer]

I know nobody wants to hear it, but the Dems were pretty clearly on the right side here. Lots of hemming and hawing from the Rs in that hearing.

[Hastur]

Live link to the GameStop hearing today.

https://www.zerohedge.com/markets/watch ... ed-hearing

Congress going to get to the bottom of how a bunch of plebs put the squeeze on their friends

Couple of them actually hit on the fact that the stock was shorted to 150%. Answer from the hedgies: ‘dunno, we always had a match. SEC says we have to’.

Funny that they don’t have a witness from the DTCC that’s supposed to provide those matching shares.

You can borrow the same thing two times. That is no mystery. I can borrow your car and sell it. Then borrow it from the new owner and sell it again. Now I owe two people the same car.
It's stupid but not impossible.

[Zlaxer]

Congress going to get to the bottom of how a bunch of plebs put the squeeze on their friends

Couple of them actually hit on the fact that the stock was shorted to 150%. Answer from the hedgies: ‘dunno, we always had a match. SEC says we have to’.

Funny that they don’t have a witness from the DTCC that’s supposed to provide those matching shares.

You can borrow the same thing two times. That is no mystery. I can borrow your car and sell it. Then borrow it from the new owner and sell it again. Now I owe two people the same car.
It's stupid but not impossible.

No - you can’t sell what you don’t own unless you have agent authority from owner - original owner would have to approve double sale - Pretty sire stocks have prohibitions against that - so it’s probably illegal.

[Hastur]

Couple of them actually hit on the fact that the stock was shorted to 150%. Answer from the hedgies: ‘dunno, we always had a match. SEC says we have to’.

Funny that they don’t have a witness from the DTCC that’s supposed to provide those matching shares.

You can borrow the same thing two times. That is no mystery. I can borrow your car and sell it. Then borrow it from the new owner and sell it again. Now I owe two people the same car.
It's stupid but not impossible.

No - you can’t sell what you don’t own unless you have agent authority from owner - original owner would have to approve double sale - Pretty sire stocks have prohibitions against that - so it’s probably illegal.

If you short a stock, you borrow it to sell it. Duh. If you buy a stock that has been borrowed you can do whatever you want with it. It's yours. You can even lend it to the guy you bought it from. Where am I wrong?

[C-Mag]

Did Robinhood or Hedgies ask Congress how the magically buy and sell stock the day before a big policy decision is announced ?