GME, Hedge Funds, Citadel and Reddit

[The_Dude]

45 minutes ago, Chef Jim said:

 

I know I'm not telling anything you don't know but you don't HAVE to work anywhere.  Covid has shown us that with a lot of industries.  I &#%$ing love it. 

N-n-no, I do bro. I own a company in the service industry. I do air conditioner things. Gotta work where the ACs are! But I don’t have to live there. 

[Chef Jim]

3 minutes ago, The_Dude said:

N-n-no, I do bro. I own a company in the service industry. I do air conditioner things. Gotta work where the ACs are! But I don’t have to live there. 

 

Newsflash.  AC is used all over the world.  

[The_Dude]

24 minutes ago, Chef Jim said:

 

Newsflash.  AC is used all over the world.  

Yeah, but if ya wanna make a living you gotta live near a lot of air conditioners. 

[The_Dude]

1 hour ago, Chef Jim said:

 

Newsflash.  AC is used all over the world.  

Yes, Jim, but living next to a million ACs is more profitable than living next to a dozen. Believe me, I live where I can have peace of mind but I gotta trudge through the trenches of Hotlanta and Gwinnett county (used to be nice when I was a kid) to make the donuts. 

[Chef Jim]

9 minutes ago, The_Dude said:

Yes, Jim, but living next to a million ACs is more profitable than living next to a dozen. Believe me, I live where I can have peace of mind but I gotta trudge through the trenches of Hotlanta and Gwinnett county (used to be nice when I was a kid) to make the donuts. 

 

I've heard that TX and FL have some heat issues that AC does wonders on. 

[The_Dude]

6 minutes ago, Chef Jim said:

 

I've heard that TX and FL have some heat issues that AC does wonders on. 

Once my kids are grown I’ll pop smoke. 

[Foxx]

This has got to be my favorite statement on this whole GME shebang.

 

“The GameStop saga did not hurt or damage the stock market. It started to heal the stock market.” -Reggie Middleton

[Chef Jim]

3 hours ago, The_Dude said:

Once my kids are grown I’ll pop smoke. 

Kids??  That was your first mistake. 

[Chef Jim]

36 minutes ago, Foxx said:

This has got to be my favorite statement on this whole GME shebang.

 

“The GameStop saga did not hurt or damage the stock market. It started to heal the stock market.” -Reggie Middleton

I didn’t know the market was broken. 

[Alaska Darin]

10 hours ago, Chef Jim said:

I didn’t know the market was broken. 

It's not but victimology is what sells best these days.  Whining about "rich people" is all the rage. 

[Chef Jim]

2 hours ago, Alaska Darin said:

It's not but victimology is what sells best these days.  Whining about "rich people" is all the rage. 

Yup and they poked the bear. Or was it the bull?  Probably both. 🤔  Pop Warner vs The Chiefs.  These idiots thought they got one over on the hedge funds.  I’m sorry but wealth has privileges. Why everyone tries to become wealthy.  

 

Larry Elder coined the term Victicrat many years ago.  

[Nouseforaname]

1 hour ago, Chef Jim said:

Yup and they poked the bear. Or was it the bull?  Probably both. 🤔  Pop Warner vs The Chiefs.  These idiots thought they got one over on the hedge funds.  I’m sorry but wealth has privileges. Why everyone tries to become wealthy.  

 

Larry Elder coined the term Victicrat many years ago.  

 

Exactly.  A couple of hedge funds got it hard, some Portfolio Managers will be fired and life will go on.

 

Meanwhile, Dave Portnoy lost 700K on his meme stocks.  First bite you know the rules.

[Chef Jim]

1 hour ago, Meazza said:

 

Exactly.  A couple of hedge funds got it hard, some Portfolio Managers will be fired and life will go on.

 

Meanwhile, Dave Portnoy lost 700K on his meme stocks.  First bite you know the rules.

 

And the markets will remain efficient and the best way to accumulate wealth is over the long run.  Work hard, dollar coast average at least 15% of your gross pay into something tax efficient, diversify and rebalance annually and you'll likely end up the millionaire next door.  Less than $400 a month at 8% over a 40 year working career is a million.  Individual stocks is often a fools errand.  

[Chef Jim]

Gee...I wonder how those that bought in at the high and were told "hold the course!  DO NOT SELL!!" are feeling right now.  I hope they are more pissed at the Reddit Frat Boys than the hedge funds.  

[plenzmd1]

On 2/3/2021 at 12:40 PM, Chef Jim said:

 

And the markets will remain efficient and the best way to accumulate wealth is over the long run.  Work hard, dollar coast average at least 15% of your gross pay into something tax efficient, diversify and rebalance annually and you'll likely end up the millionaire next door.  Less than $400 a month at 8% over a 40 year working career is a million.  Individual stocks is often a fools errand.  

don't agree on the individual stocks . I agree with the long term view, but i have done well last 10 years or so spotting trends way before funds do, and often times stocks not included in any index fund. Bit maybe thats just cause i such a genius😂

 

Everyone so up in arms about GME, Reddit etc, why no discussion on the proliferation of SPACS? These things are gunna get people murdered financially i think. And, every WSB guys hero last week, now his spac may be the target of an investigation. Hmm, 

 

https://www.barrons.com/articles/hindenburg-says-clover-health-stock-is-ripe-for-shorting-heres-why-51612475568

[GG1]

1 hour ago, plenzmd1 said:

don't agree on the individual stocks . I agree with the long term view, but i have done well last 10 years or so spotting trends way before funds do, and often times stocks not included in any index fund. Bit maybe thats just cause i such a genius😂

 

Everyone so up in arms about GME, Reddit etc, why no discussion on the proliferation of SPACS? These things are gunna get people murdered financially i think. And, every WSB guys hero last week, now his spac may be the target of an investigation. Hmm, 

 

https://www.barrons.com/articles/hindenburg-says-clover-health-stock-is-ripe-for-shorting-heres-why-51612475568

 

The SPAC craze is overblown on all sides.   On one hand, it's not big enough to blow up the markets.  On the other hand, anyone who invests in a SPAC without a clear target in sight is an idiot.   It's a stupid instrument to replicate private equity returns, because you don't have the broad portfolio of investments that private equity gives you that juice their returns.

[Chef Jim]

7 hours ago, plenzmd1 said:

don't agree on the individual stocks . I agree with the long term view, but i have done well last 10 years or so spotting trends way before funds do, and often times stocks not included in any index fund. Bit maybe thats just cause i such a genius😂

 

Everyone so up in arms about GME, Reddit etc, why no discussion on the proliferation of SPACS? These things are gunna get people murdered financially i think. And, every WSB guys hero last week, now his spac may be the target of an investigation. Hmm, 

 

https://www.barrons.com/articles/hindenburg-says-clover-health-stock-is-ripe-for-shorting-heres-why-51612475568

 

How have your stock picks performed over the long run?  What's your tax return look like?  How much time do you spend on research?  Again individual stock picking is a fools errand for most.  

[plenzmd1]

44 minutes ago, Chef Jim said:

 

How have your stock picks performed over the long run?  What's your tax return look like?  How much time do you spend on research?  Again individual stock picking is a fools errand for most.  

pretty damn good TBH. Again, I tend to stay in areas i know, or areas that i thought were major trends well before Covid. I have always been heavily invested in tech, especially in areas that I personally understand or companies that I know people at and can get some G2..so things like ServiceNow, Adobe, Apple, Coupa Okta ..been in things like cyrptos and blockchain for a few years thanks to  @Foxx, and been on the EV and solar bandwagon for at least two years.

 

Tax return sucks as always, but that is due to being W-2 employee...

 

Again, I am an invest and hold dude 

 

 

[Ann]

1 hour ago, Chef Jim said:

 

How have your stock picks performed over the long run?  What's your tax return look like?  How much time do you spend on research?  Again individual stock picking is a fools errand for most.  

Hubby and I have very different investment strategies. I once heard Peter Lynch tell the L'eggs story (must have been in the '80s? maybe early 90s?) and that was what I have always done. Invest in what I like.  To-date, it has worked quite well.  I am in one fund (that Hubby made me buy). All my other stock market "investments" are individual stock picks. 
 

[Chef Jim]

1 hour ago, DC Tom said:

 

I do pretty good...but then, I also have between 50-75% of our retirement in mutual funds, because I can't do it full time.

This works.  Except for the mutual funds part. I would hope you’re using ETF’s.  😁