OT: The Avalounge: No Politics in the Lounge

[Cousin Eddie]

This is a tough post to make but I've made the decision to delete my HFBoards account. I've been finding that I need to prioritize other things in my life and unfortunately, HF is one of the things I need to cut out in order to get to the goals I'd like to reach.

Thanks to everyone for allowing me to be a part of this great community of Avs fans, I've learned so much over the years from all of you and will truly miss all of you. It's been a hell of a time, and I really do wish success for each and every one of you.

- Mohamed

All the best brother. I’ve considered it myself and I envy you for doing so.

 

[Pokecheque]

This is a tough post to make but I've made the decision to delete my HFBoards account. I've been finding that I need to prioritize other things in my life and unfortunately, HF is one of the things I need to cut out in order to get to the goals I'd like to reach.

Thanks to everyone for allowing me to be a part of this great community of Avs fans, I've learned so much over the years from all of you and will truly miss all of you. It's been a hell of a time, and I really do wish success for each and every one of you.

- Mohamed

We'll miss ya bro. You were definitely one of the guys I enjoyed chatting up on this waste-of-time site.

 

[Ceremony]

Baseball has not been kind to Lauren

 

[Pokecheque]

Baseball has not been kind to Lauren

I don't get it, is there something wrong with Lauren's appearance?

 

[hockeyfish]

I don’t know if I should feel sorry or not for anyone who got caught up in the GME craze last week. I’m sure there were many who lost 80% of their retirement because of a bunch of internet memes.

 

[Pokecheque]

I don’t know if I should feel sorry or not for anyone who got caught up in the GME craze last week. I’m sure there were many who lost 80% of their retirement because of a bunch of internet memes.

I have zero issue with some day traders f***ing with the supposed Wall Street elite. It's a horribly corrupt system to begin with.

 

[The Abusement Park]

I don’t know if I should feel sorry or not for anyone who got caught up in the GME craze last week. I’m sure there were many who lost 80% of their retirement because of a bunch of internet memes.

I don’t feel that bad. They just did what hedge funds do to the regular people basically.

 

[Mooserton]

I don’t know if I should feel sorry or not for anyone who got caught up in the GME craze last week. I’m sure there were many who lost 80% of their retirement because of a bunch of internet memes.

If you had 80% of your retirement invested in stocks for a company that has clearly been tracking towards a Blockbuster type ending then that's on you.

 

[hockeyfish]

I have zero issue with some day traders f***ing with the supposed Wall Street elite. It's a horribly corrupt system to begin with.

I don't feel bad about the elite. I probably should feel bad about the yokels who saw memes and reddit posts with thousands of upvotes who bought in at the top.

 

[Pokecheque]

I don't feel bad about the elite. I probably should feel bad about the yokels who saw memes and reddit posts with thousands of upvotes who bought in at the top.

Did people really lose their retirement doing that though?

 

[hockeyfish]

Did people really lose their retirement doing that though?

I'm sure there were many.

 

[Pokecheque]

I'm sure there were many.

As others have said, if they put that much money into something that volatile then they deserve to lose their shirts.

My IRA is set to be a little more ambitious than most and it's doesn't even come close to something like that. You're better off just cashing out and heading to Vegas. It's pretty much the same thing.

 

[McMetal]

Yeah, if anybody was dumb enough to pour that much money into GME, that's on them. But most people went into it clear-eyed about what the endgame was going to be. They just wanted to spit in the eye of the hedge funds and shake up the system, and that's a good thing, IMO.

 

[Bonzai12]

The truly ironic thing is that some hedge funds made money right alongside the Reddit guys, so even though they were “fighting the power” or whatever, some hedge funds completely made money off WSBs backs as well. It’s really quite stupid at the end of the day and just feels like a pump and dump on a scale bigger than Cramer.

 

[CharlesPuck]

The truly ironic thing is that some hedge funds made money right alongside the Reddit guys, so even though they were “fighting the power” or whatever, some hedge funds completely made money off WSBs backs as well. It’s really quite stupid at the end of the day and just feels like a pump and dump on a scale bigger than Cramer.

Must be nice to short a stock at $400 when the actual value is closer to $20. And all the individual people who did make money and sold the stock probably didn't realize they now have to pay short term gain tax upwards of 39% on that profit...

 

[henchman21]

I'm sure there were many that lost money, but also many gained a lot of money off that squeeze. Anybody that buys an obvious meme stock at its peak deserves what they get for losing (looking at you Dave Portnoy). The smart hedge funds quickly swapped sides and rode the squeeze as @Bonzai12 stated. The guy on WSB that started this thing pulled out something like 13m at one point. He lost a lot from his peak, but he made life changing money a few times over. One of my friends turned 2k into 80 by the time he pulled out. It was all a gamble, but you can gamble and win.

As others have said, if they put that much money into something that volatile then they deserve to lose their shirts.

My IRA is set to be a little more ambitious than most and it's doesn't even come close to something like that. You're better off just cashing out and heading to Vegas. It's pretty much the same thing.

The market is just a different form of gambling really. The game can be won more consistently than Vegas, but on the very basics of it, you're betting on companies to be better than they are currently (or worse if you're shorting).

I'll admit I'm pretty aggressive with investments and I've made plenty of bets that have gone completely to zero. It is about winning more than you lose, and it is not a really easy thing for most people to do. It can be done, but it takes time and dedication to learn... plus a few ego slaps.

 

[MartinSkoulYa]

If you had 80% of your retirement invested in stocks for a company that has clearly been tracking towards a Blockbuster type ending then that's on you.

You should see the justification some of the reddit posts are trying to make over the last couple days. Apparently its a long play now, they're banking on the Chewy guy to turn GameStop into an e-commerce to rival Amazon but for all things gaming lol. Which you know what? Doesn't sound like all that bad of a gamble (minus the Amazon part)... at $10 though not friggin $100-$400 or even whatever it's overvalued at right this moment

Others claiming they will become PC building stations or egaming tournament locations. They're just grasping at straws in some kind of coping mechanism.

 

[henchman21]

You should see the justification some of the reddit posts are trying to make over the last couple days. Apparently its a long play now, they're banking on the Chewy guy to turn GameStop into an e-commerce to rival Amazon but for all things gaming lol. Which you know what? Doesn't sound like all that bad of a gamble (minus the Amazon part)... at $10 though not friggin $100-$400 or even whatever it's overvalued at right this moment

Others claiming they will become PC building stations or egaming tournament locations. They're just grasping at straws in some kind of coping mechanism.

The original guy's thesis was that they had plenty of cash, new console cycle pump, and a non-zero chance they could pivot. Because of that the stock was undervalued and should have been trading around 15-20. Which is completely right to me. Right now they have a real opportunity to raise cash by offering a secondary at 20-30 a share (an atm is unlikely to actually get funded), and could give the company a warchest to pivot. In the end though, I think they'll die a slow death. They were undervalued for a long time, but anything above 15-20 is kinda crazy given their legacy costs.

IMO the WSBs crowd that has gotten in late is trying to force others to hodl while taking their own profits. There are plenty of other good investments out there that the group should be focusing on.... like dogecoin.

 

[MartinSkoulYa]

The original guy's thesis was that they had plenty of cash, new console cycle pump, and a non-zero chance they could pivot. Because of that the stock was undervalued and should have been trading around 15-20. Which is completely right to me. Right now they have a real opportunity to raise cash by offering a secondary at 20-30 a share (an atm is unlikely to actually get funded), and could give the company a warchest to pivot. In the end though, I think they'll die a slow death. They were undervalued for a long time, but anything above 15-20 is kinda crazy given their legacy costs.

IMO the WSBs crowd that has gotten in late is trying to force others to hodl while taking their own profits. There are plenty of other good investments out there that the group should be focusing on.... like dogecoin.

Agreed with everything you said here. The original play made sense. They were selling for like $2-$3 this time last year. He bet on them being undervalued and was correct. The whole take down the hedge funds brigade was out to lunch. Surely there was money to be made there, even if you got in late early last week but it was clearly pump and dump by that point. All this hold til it's either 10k or 0 make wallstreet bleed is just lol And they're still on the train saying there will be a spike. The ones continuing on are either meme-ing or legit missing some between the ears... or in denial I guess. Or like you said trying to rope people in to raise the price and cut down on the losses a bit.

I just hop nobody hurts themselves.

 

[expatriatedtexan]

While I would never want to see an average joe or jane get hurt by participating in one of these things, I would rather give them the chance than see an laws put in place "protecting" the average person which would give them any less power than those on wall street have at their disposal.

 

[flyfysher]

Unexpectedly got my Moderna Covid-19 vaccine today. Wasn’t expecting to be vaccinated until May. I was #32,351 on phase 1B2 of Kaiser Permanente’s waitlist a couple of days ago. But a friend of mine was saying the vaccine was available locally to those 65 years of age or older. So I called the number on Boulder County’s Covid-19 website. The operator gave me the numbers for several local vaccine distribution centers. I called the first number, explained I turned 65 less than a month ago and they told me to come in this afternoon for my Moderna vaccine. Already got the first dose. Point being, it’s worth it to call around. I didn’t have to wait as a Kaiser Permanente member for them to get the vaccine in and I got vaccinated at the local church. Good luck folks. Hope this info helps.

 

[hockeyfish]

Today is Blucifer’s birthday. But the family of the artist who died creating it would prefer you don’t call it that.

Hail Blucifer.

 

[Pokecheque]

I f***ing love that sculpture.

 

[Ceremony]

@The Shermanator will know why this is good. The rest of you should watch and find out.

 

[Ceremony]

ps I wonder what the new album's going to be called