Screw the Stock Market...

[Commando]

I bought around 625 shares of AMC at around $4.30 on Monday and Tuesday. I think I'll be sent to jail for what's happening right now.

Holy shit, Uncle Rico! Can I borrow a cool million?

[Color Me Badd Fan]

I bought around 625 shares of AMC at around $4.30 on Monday and Tuesday. I think I'll be sent to jail for what's happening right now.

And I just sold half of it, it's dipping and it doesn't have the same number of outstanding shorts as Gamestop.

[Color Me Badd Fan]

I bought around 625 shares of AMC at around $4.30 on Monday and Tuesday. I think I'll be sent to jail for what's happening right now.

[wapiti]

Best move of the year: I decided in July to finally get into TSLA. I bought a good amount and made a note to do it again in 30 days, which I did. After the second purchase it tanked 3 days later so I bought more. The average of the 3 buys is up 155%.

Worst move of the year: When the market hit rock bottom on March 15 I bought Disney June 2022 leaps with a strike of $85 with the intention of holding them for at least 18 months. A few weeks later the stock had bumped over $100 and my leaps were up a bit. I got nervous that with the lack of travel, covid shuttering the theme parks, and the lack of people in movie theaters that Disney would underperform the recovery. I sold. The position would be up over 350% today.

[Color Me Badd Fan]

Has anyone else been watching this social-media-fueled short squeeze of GameStop stock? Fascinating.

This is one the craziest things you'll ever see. I actually put several hundred dollars into it around Thanksgiving sold a few days later at just a little profit.

I bought at around $15 a share, so my $700 or so would have been around $7,000 at the peak yesterday. This is for a shitty company that probably won't be around in a few years. This thing will have an epic crash, or the SEC will figure out how to make sure something like this never happens again, maybe both.

The real lost opportunity was Roku, an actual legit company, I got cold feet on that at around $90 a share.

[Eddie]

My wife has a friend who told her to buy cruise line stock while they were down, because they'll go back up when the pandemic is over. So I did - like $100 or something. But for the most part I'm content to stick with a basic index fund. Feels pretty diversified. Takes a lot less time to research which stocks are potentially going up or down to manage the buying or selling. Low overhead compared to managed funds. And really gives me a Ron Popeil approved "Set It And Forget It" low risk approach that's likely to perform at least as well as my stock buying guesses. Yeah - I'm not hitting any home runs. But I'm not striking out. Boring as hell - but so far so good.

[Jeff Lebowski]

Do you want some simple rules for succeeding in the stock market? 1) If you're not a brain surgeon, don't operate on brains; if you don't pick stocks for a real day job, don't do it; 2) don't time the market except in the macro for major life events (eg., liquidating your kid's college fund a when he's a junior in HS); 3) diversify; 4) unless you've completely given up on American capitalism, and there's a rational reason for that, getting all out of the market is usually riskier than staying in. That's all. I've learned these rules the best way. The hard way. I'm really glad I followed them the past year. Only those who didn't got killed, and instead did well, I venture.

Excellent advice.

[SeattleUte]

Do you want some simple rules for succeeding in the stock market? 1) If you're not a brain surgeon, don't operate on brains; if you don't pick stocks for a real day job, don't do it; 2) don't time the market except in the macro for major life events (eg., liquidating your kid's college fund a when he's a junior in HS); 3) diversify; 4) unless you've completely given up on American capitalism, and there's a rational reason for that, getting all out of the market is usually riskier than staying in. That's all. I've learned these rules the best way. The hard way. I'm really glad I followed them the past year. Only those who didn't got killed, and instead did well, I venture.

[Moliere]

Has anyone else been watching this social-media-fueled short squeeze of GameStop stock? Fascinating.

Yes, I caught wind of it over the weekend and have been watching it today. Pretty fascinating. Here's a quip from teh WSJ

GameStop’s rally is one in a series of eye-catching market moves to stir concerns among fund managers, some of whom say trading by individual investors is pushing stock prices out of whack with fundamentals.

I'm not a big fan of short selling stocks, especially when it's for speculative purposes. I think fund managers that do that deserve what htey are getting, especially in this instance. Short selling should, IMO, only be used as a risk management tool and not for speculation. It does make me wonder though if this is a bigger issue and here's a stdatement on that:

Online brokerage Robinhood Markets and other commission-free trading platforms have “brought together a community of people who are in certain situations acting on a coordinated basis,” said Edward Park, chief investment officer at Brooks Macdonald. “I think it’s partially people working from home and having more attention on the stock market during this period.”

“I don’t think it’s creating a fundamental problem for the market,” Mr. Park added.

Looks like most people think this is not a broader issue for the market. It's mainly targeted to individual stocks at one time so doesn't necessarily point to an overall flaw in market fundamentals.

[Now who’s the dean?]

Has anyone else been watching this social-media-fueled short squeeze of GameStop stock? Fascinating.

Yeah. Economists and their rational actors.


**And I don’t agree with that in the workplace**

[Joe Public]

Has anyone else been watching this social-media-fueled short squeeze of GameStop stock? Fascinating.

[old_gregg]

Having sold Tesla less than a year ago at around $300 because I disliked a CEO who violated securities laws, I now have further confirmation of my great stock-picking skills with Tesla's stock hovering around $2,400 today. It would have been nice to have had an 800% ROI for the past year, but at least I stood on principle! I must have missed the class hour in Bob Daines' finance class when I assume we were told a P/E ratio of 1,250 is a strong buy signal.

hey i love bob daines. awesome guy.

[Katy Lied]

Having sold Tesla less than a year ago at around $300 because I disliked a CEO who violated securities laws, I now have further confirmation of my great stock-picking skills with Tesla's stock hovering around $2,400 today. It would have been nice to have had an 800% ROI for the past year, but at least I stood on principle! I must have missed the class hour in Bob Daines' finance class when I assume we were told a P/E ratio of 1,250 is a strong buy signal.

Got a guffaw outa me.

[Flystripper]

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[SCcoug]

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