Trading the stockmarket (NO Referrals)

Caporegime
Joined
24 Oct 2012
Posts
25,023
Location
Godalming
Robinhood is still limiting users on how many shares they can own

CM3mMPE.jpg

They're probably finished though if this survey is anything to go by

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You see this? :D

https://www.tmz.com/2021/01/31/plane-flies-over-robinhood-hq-with-suck-my-nuts-banner-san-francisco/
 
Soldato
Joined
20 Dec 2004
Posts
15,763
The almost complete lack of regulation of the financial services market is a catastrophe for the lower and middle classes. I don't know how anyone can think otherwise.

The middle classes are making absolute bank out of the markets.

Second, there's a staggering amount of regulation in financial services. I worked in financial regulatory reporting for a while, it's a good gig to get into, there's more and more regulation all the time and there's load of well-paid work putting the systems in place to do it. It's not perfect, but it's a whole lot better than it used to be. A huge amount of electronic scrutiny goes on, and people can and do get punished, when there is any wrong-doing.

Shorting the **** out of a doomed company is no more or less morally right than all these WSB lot YOLOing TSLA call options.....they're just people trading their opinions on a stock to make money.

No moral high ground whatsoever.
 
Man of Honour
Joined
19 Oct 2002
Posts
29,509
Location
Surrey
Second, there's a staggering amount of regulation in financial services. I worked in financial regulatory reporting for a while, it's a good gig to get into, there's more and more regulation all the time and there's load of well-paid work putting the systems in place to do it. It's not perfect, but it's a whole lot better than it used to be. A huge amount of electronic scrutiny goes on, and people can and do get punished, when there is any wrong-doing.
Agree. Financial IT here and I estimate around 25% to 30% of my job is compliance, audit, external audit and various regulation related work.
 
Soldato
Joined
15 Feb 2003
Posts
10,042
Location
Europe
Silver is up strongly this morning - I have read its a target for the WSB crowd now.. I still have a bit of Silver ETF in an old ISA.... Will be an interesting day.

You may have read it but it's nothing to do with WSB they aren't interested. Not sure where the media got that story from. Most of the silver posts on there are from new users/bots.
 

fez

fez

Caporegime
Joined
22 Aug 2008
Posts
25,023
Location
Tunbridge Wells
Second, there's a staggering amount of regulation in financial services. I worked in financial regulatory reporting for a while, it's a good gig to get into, there's more and more regulation all the time and there's load of well-paid work putting the systems in place to do it. It's not perfect, but it's a whole lot better than it used to be. A huge amount of electronic scrutiny goes on, and people can and do get punished, when there is any wrong-doing.

I'm sure there are loads of rules and regulations but if the regulations don't lead to sufficient punishment when they are broken then there is little point to them. When there is so little danger to the individuals involved in investment banking there is not enough of a deterrent. In the US post 2008 apparently only a single senior banker ended up in jail and that was a 30 month sentence. Christ, if someone wanted to give me a few millions I would happily go to jail for a year and a half.

Shorting the **** out of a doomed company is no more or less morally right than all these WSB lot YOLOing TSLA call options.....they're just people trading their opinions on a stock to make money.

No moral high ground whatsoever.

Why is gamestop doomed? It was a failing bricks and mortar shop that had an injection of cash and was under new management who are trying to bring it up to date and make it competitive again. Shorting the **** out of a company is a pretty good way to manipulate the value of a company and make sure that your "prediction" comes to pass.

Its school yard politics.

"Why doesn't X have any friends"
"Oh the cool kids have decided they don't like them"
 
Soldato
Joined
25 Nov 2005
Posts
12,444
Nice of WSB to try but silver market would require global movement I guess, lots of supply not too similar to massive shorts of GME.

Except they're not going for Silver, just look at the reddit nobody saying silver apart from warning against buying it because it's a distraction by whoever is currently manipulating it


Pretty crazy, there's a tonne of WSB folk buying billboards to promote GME as well although I'm pretty sure that's bordering on the line between illegal & legal ?
 
Caporegime
Joined
24 Oct 2012
Posts
25,023
Location
Godalming
whats that a modern day 2014 crypto exchange‍ :)


It's pretty much what it is. I am seeing a LOT of similarities with the Crypro rush from the early 2010s. The fact that the share price at this point is completely disconnected from the company they're related to doesn't help matters, it may as well be named "LuckShares™" and removed from Gamestop altogether.

There are going to be a lake full of tears from this whole saga, mark my words.
 
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