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Thoughts on the whole Gamestop stock thing?
#389797 - 02/01/21 11:17 AM
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I've always been too chicken-shit to dip my toe into the stock market. The current situation makes me feel just as bad as not ever buying into the whole bitcoin thing when it was well below $100. Always a fantasy looking back with 20/20 vision though... I could have easily dumped 30 large back when Gamestop was under $4. Fast forward to now, and I'd have like $42Million. Holy shit!
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Just broke my personal record for number of consecutive days without dying!
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Re: Thoughts on the whole Gamestop stock thing?
[Re: URherenow]
#389798 - 02/01/21 01:15 PM
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> I've always been too chicken-shit to dip my toe into the stock market. The current
> situation makes me feel just as bad as not ever buying into the whole bitcoin thing
> when it was well below $100. Always a fantasy looking back with 20/20 vision
> though... I could have easily dumped 30 large back when Gamestop was under $4. Fast
> forward to now, and I'd have like $42Million. Holy shit!
There's fortunes to be had, that's for sure. The whole thing has to fall over sooner or later, and a lot of people will get burned. It might even cause a financial collapse, like 2008.
But if you're canny, buy low, sell high enough, you'll be rich. There's no need to try to guess the exact moment when the stock reaches its highest value.
You might as well look around at stocks which are currently cheap, and hope something happens. If nothing happens, you haven't lost much.
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| jopezu |
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bread-train
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Reged: 09/21/03
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Re: Thoughts on the whole Gamestop stock thing?
[Re: Robbbert]
#389800 - 02/01/21 06:14 PM
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> It might even cause a financial
the banks have to be involved for that to happen. they aren't that involved currently. we'll see. =)
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i learned everything i know from KC
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Re: Thoughts on the whole Gamestop stock thing?
[Re: Robbbert]
#389801 - 02/01/21 06:53 PM
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> There's fortunes to be had, that's for sure. The whole thing has to fall over sooner
> or later, and a lot of poeple will get burned.
That's the important point though. No matter what you think of Gamestop, at the current point the stock is seriously overvalued. It is going to go down seriously at some point, but nobody can say when and the ham-handed institutional interventions makes things even more volatile. So a lot of people come came in late are going to get out too late and lose money, and whatever they say it's going to burn. No way the long-term company value is at the current stock value.
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Re: Thoughts on the whole Gamestop stock thing?
[Re: URherenow]
#389810 - 02/02/21 07:54 PM
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> I've always been too chicken-shit to dip my toe into the stock market. The current
> situation makes me feel just as bad as not ever buying into the whole bitcoin thing
> when it was well below $100. Always a fantasy looking back with 20/20 vision
> though... I could have easily dumped 30 large back when Gamestop was under $4. Fast
> forward to now, and I'd have like $42Million. Holy shit!
You can not predict black swan events. You are better off with a NAV style of purchase. Pick companies with good balance sheets, low debt, some sort of dividend, and management that is not doing dumb things. Then buy in at regular intervals and re-invest the dividends back in. If you do not know 'which stock' look at investment funds with low fees. Do not bother with specialty funds. They typically have higher fees and tend toward the mean.
It is not roll around on the bed in stacks of cash money with hookers and blow but it works decently well. It is why 401k's tend to work long term.
If you had said 'I am buying GME' 6 months ago people would go 'uh OK, why?' Now the downside on that stock looks huge. It will revert to the mean. All of those 'stick it to the hedge funds' guys will lose money and the hedge funds will make it all back in 2-3 months if not sooner.
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Re: Thoughts on the whole Gamestop stock thing?
[Re: URherenow]
#389814 - 02/03/21 06:56 AM
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I've been watching at a distance with amusement, but won't do anything more. I leave the investment analytics to my wife (who has a finance degree) and others. The one and only time I decided to "play the market" was back in the early '90s while in college. In one of my investment classes, we were given the task of writing on our experiences on a mock investment. At the time, I was very conservative, so I chose paper stock...as in actual paper milling. Shortly after "investing", a movement started pushing through about the destruction of rain forests and such, and my virtual stock plummeted to values that I could never have recovered from. Good thing it was only virtual, but I learned my lesson. Years later, thinking it was only a single bad luck, I actually considered investing in 3DFX - good thing I didn't go through with it. And, in the mid-2000's, I also considered buying into AMD (around the time they bought ATI), and was fortunate I did not commit as it would have been a disaster. As they say, 3 virtual strikes, and I am out.
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Re: Thoughts on the whole Gamestop stock thing?
[Re: jopezu]
#389815 - 02/03/21 10:29 AM
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There is a danger that some of the hedge funds who have taken the short positions in these stocks (GameStop and otherwise) could go bust. And if that happens, their creditors wont get the money they are owed and it will be a lot harder for Wall Street to get credit form the kinds of people who lend to Wall Street. And there is even the potential for a credit market collapse as happened in the GFC.
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Re: Thoughts on the whole Gamestop stock thing?
[Re: jonwil]
#389816 - 02/03/21 04:31 PM
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> There is a danger that some of the hedge funds who have taken the short positions in
> these stocks (GameStop and otherwise) could go bust. And if that happens, their
> creditors wont get the money they are owed and it will be a lot harder for Wall
> Street to get credit form the kinds of people who lend to Wall Street. And there is
> even the potential for a credit market collapse as happened in the GFC.
So a bunch of rich dickhead bankers and investors dumped money into trying to artificially depress GameStop's stock, AMC's stock, and others, and instead they ended up getting shafted by idiot poor people on Reddit, and it might cause a market collapse that will adversely affect those same rich dickheads, and not the actual poor people who largely don't hold stocks?
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