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Thread: Stock Market Madness

  1. #1
    Senior Member PityOnU's Avatar
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    Stock Market Madness

    Definitely an edge of the forum kind of thing, but what's everyone's opinion on the madness going on with Gamestop stocks right now? Anyone here along for the ride?

    Fortunately (or unfortunately, depending on how you look at it), I'm too early on in my life/career in order to have decent chunks of disposable income lying around, or else I probably would've totally been gambling on this one. At the moment, however, my risk tolerance is 0% and any money I do have is already spoken for in the short/medium term future.

    My opinion on the situation as well - a total gamble. Put your money in and pull that lever! Such a frenzy that it could easily go either way. Already mega-overinflated stock.



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    Senior Member dspace9's Avatar
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    I like it how "the people" want their old blackberrys back, and use them to buy games at Gamestop. Just like Meghan McCain said on the view earlier: I just hope average Americans don't lose their shirts because unemployed jerks are spending their stimulus cheques on frivilous stocks.

    On the other hand, maybe "Wall Street" needs a shake up. My issue with the whole thing is just annoying when people start to water down investment and economics for vague Robin Hood type of thinking. Lots of people out there following the rules, investing legally, trying to eventually retire comfortably. If the bum Reddit crowd gets my investment income, I don't agree with it then. If I can benefit from the whole thing, then maybe I should buy stock. I wish I A) Invested in tech and health stocks in 2019 and B) I wish I didn't sell my small personal investments, when the Dow dipped low in around March 2019. Ah well, for me, who like you "every dollar counts" I simply don't have the stomach, or spare change, to be gambling with stocks. Stresses me out, and then it is not worth it 100%. I buy/sell currency a bit.

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    Senior Member PityOnU's Avatar
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    It's easy to demonize "the other" and turn it into an "us versus them" kind of a thing - after all, tribalism is an instinctive survival instinct in humans. However, I think the crowd that are riding this are just as diverse as others, and are playing (albeit riskily/stupidly) within the rules of the game.

    Any investment comes with risk, and if anyone does "lose their shirt" then it was because they were victims of that risk. It would absolutely suck if it wrecks someone's retirement savings/pension, and to be honest it most probably will. After all, this is not a generation of wealth, just a transfer. But again, those impacted are/will be victims to the risk they should have been aware of, and anyone who profits will do so through diligence and seizing upon an opportunity when it presented itself. I can't think of anything more free market capitalism/American dream than that.

    The whole "social justice" movement about sticking it to the large brokerage firms/Robinhood is pretty daft, though. But hey, it seems to be fueling the frenzy, for better or worse, so whatever.

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    Senior Member dspace9's Avatar
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    I think the word "social justice" gets twisted a lot. Nobody wants to live in a country where bribing law authorities is the norm.

    But anyway, some people in the millennial generation including myself have built their own wealth. The thing is the generation beforehand told their children all the time to show success with a big house and a big career. Even if it is all given to them like the spoiled brats. For everyone though, nobody remembers how to enjoy life when they are pursuing the mighty dollar. But the problem with Robin Hood is it assumes there is only so much honey to go around in the world. Real wealth and entrepreneurship comes from building something from nothing. It's not a zero sum thing as they say. Only so many stocks in each company indexed on the market so in that sense it is a zero sum game. But that's also how you get your market bubbles. So that's how you get your million dollar tulip bulbs lol.

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        click to view fuel log View my fuel log 2014 Mirage ES 1.2 manual: 42.2 mpg (US) ... 17.9 km/L ... 5.6 L/100 km ... 50.7 mpg (Imp)


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    Senior Member PityOnU's Avatar
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    Yeah, there are a lot of millennials out there who end up very resentful after the realization that they will not be able to easily have the same QoL of their parents. As you said, this comes after years of being told to expect otherwise, and ends up being quite a shock as it drastically alters their outlook/expectations of life in general.

    What I've seen a lot is that this devolves into self-victimization - i.e. "I have personally suffered so much and have not had a fair shake." The problem with that is that it leads down a road where anything that can be labelled "the other" becomes the evil, less-than-human abuser. So blame (in the mind of the victim) falls on the nonhuman other: prior generations, the government, youngins, schooling, society in general, the list goes on. This tends to go hand-in-hand with "crab bucketing," as in: "I never had any breaks, so no one else should either! Keep things exactly the same! Equal suffering for all!" Which, in my opinion, is a very poor mentality to have as it ends up perpetuating the exact same system that landed them in that position to begin with. And for what reason? Because life doesn't come with a huge SUV, a white picket fence, and a single breadwinner in the household? These are not things that that average person can have anymore without at least some major sacrifices - sorry!

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    Senior Member dspace9's Avatar
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    Sacrifices like driving a Mitsubishi Mirage lol!

    QoL? I had to look that one up. Too many acronyms in the world today, and unlike words, acronyms usually don't correspond to the thing the word is for. Fart kinda sounds like what a fart sounds like, same with the word toot.

        __________________________________________

        click to view fuel log View my fuel log 2014 Mirage ES 1.2 manual: 42.2 mpg (US) ... 17.9 km/L ... 5.6 L/100 km ... 50.7 mpg (Imp)


  7. #7
    I think we should all get on Reddit and drive up the prices of used Mirages.

    WHO'S WITH ME!!??

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        click to view fuel log View my fuel log 2014 Mirage ES 1.2 manual: 63.2 mpg (US) ... 26.9 km/L ... 3.7 L/100 km ... 75.9 mpg (Imp)


  8. The Following User Says Thank You to MetroMPG For This Useful Post:

    precisionxt (01-30-2021)

  9. #8
    Senior Member PityOnU's Avatar
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    Quote Originally Posted by MetroMPG View Post
    I think we should all get on Reddit and drive up the prices of used Mirages.

    WHO'S WITH ME!!??
    COVID-19 beat you to it, lol

  10. The Following 2 Users Say Thank You to PityOnU For This Useful Post:

    davidricardo86 (09-08-2021),MetroMPG (01-29-2021)

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    Administrator Daox's Avatar
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    I'm not for market manipulation. But, how robinhood and the other companies are handling it is worse IMO.
    Custom Mirage products: Cruise control kit, Glove box light, MAF sensor housing, Rear sway bar, Upper grill block

    Current project: DIY Nitrous oxide setup for ~$100

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        click to view fuel log View my fuel log 2015 Mirage DE 1.2 manual: 47.2 mpg (US) ... 20.1 km/L ... 5.0 L/100 km ... 56.7 mpg (Imp)


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    Senior Member Clessy's Avatar
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    I think its a nice "stick it to the man" however, I dont think its going to pan out. Rich people dont like loosing money and they'll lobby as much as they need to get regulations to hurt the average person. No one is going to be able to cash these stocks out at the insane prices they're soaring too and I think its foolish to believe they will. If you havent already cashed out you wont lose anything per say you'll just go back down to the useless stock they were.



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