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Robinhood, Reddit, Gamestop, and You | 2X Wealth Group to the Sophisticated Goliaths Who Were Short These Stocks
February 3, 2020 | 2X Wealth Group With a combined 50+ years of experience, Robinhood, Reddit, GameStop, 2X Wealth Group is committed to educating and You and empowering investors. We firmly believe financial The Making of a Financial Flash Mob literacy helps people make better decisions. Who doesn’t love the story of David’s triumph over Goliath? This past week a group of “small” investors made tremendous amounts of money (on paper at least) by buying stocks that were heavily shorted by large, sophisticated hedge funds. We explore what happened, factors that spurred the market disruption, the subsequent fallout still unfolding, and finally, what it all means going forward. What Happened? First, it’s important to understand three concepts - short selling, call options, and a short squeeze. If an investor wants to profit from a stock declining in value, they can short the stock. Most understand the concept of buying stock, but shorting is more complicated. Shorting involves selling a stock that you don’t own. So, how do you sell something that you don’t own? The answer is - you borrow the stock through your brokerage firm, and you must put up money to do so. The broker requires that you maintain a balance large enough to repurchase the borrowed stock at any time. Therein lies the risk. If you buy a stock, the most you can lose is the amount you paid. In other words, the value of your investment can only go to zero. If you short a stock, however, there is no limit to the amount you can lose. -
Individual Investors Rout Hedge Funds
P2JW028000-5-A00100-17FFFF5178F ***** THURSDAY,JANUARY28, 2021 ~VOL. CCLXXVII NO.22 WSJ.com HHHH $4.00 DJIA 30303.17 g 633.87 2.0% NASDAQ 13270.60 g 2.6% STOXX 600 402.98 g 1.2% 10-YR. TREAS. À 7/32 , yield 1.014% OIL $52.85 À $0.24 GOLD $1,844.90 g $5.80 EURO $1.2114 YEN 104.09 What’s Individual InvestorsRout HedgeFunds Shares of GameStop and 1,641.9% GameStop Thepowerdynamics are than that of DeltaAir Lines News shifting on Wall Street. Indi- Inc. AMC have soared this week Wednesday’stotal dollar vidual investorsare winning While the individuals are trading volume,$28.7B, as investors piled into big—at least fornow—and rel- rejoicing at newfound riches, Business&Finance exceeded the topfive ishing it. the pros arereeling from their momentum trades with companies by market losses.Long-held strategies capitalization. volume rivaling that of giant By Gunjan Banerji, such as evaluatingcompany neye-popping rally in Juliet Chung fundamentals have gone out Ashares of companies tech companies. In many $25billion and Caitlin McCabe thewindowinfavor of mo- that were onceleftfor dead, cases, the froth has been a mentum. War has broken out including GameStop, AMC An eye-popping rally in between professionals losing and BlackBerry, has upended result of individual investors Tesla’s 10-day shares of companies that were billions and the individual in- the natural order between defying hedge funds that have trading average onceleftfor dead including vestorsjeering at them on so- hedge-fund investorsand $24.3 billion GameStopCorp., AMC Enter- cial media. -
YOLO Trading: Riding with the Herd During the Gamestop Episode
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Lyócsa, Štefan; Baumöhl, Eduard; Vŷrost, Tomáš Working Paper YOLO trading: Riding with the herd during the GameStop episode Suggested Citation: Lyócsa, Štefan; Baumöhl, Eduard; Vŷrost, Tomáš (2021) : YOLO trading: Riding with the herd during the GameStop episode, ZBW - Leibniz Information Centre for Economics, Kiel, Hamburg This Version is available at: http://hdl.handle.net/10419/230679 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights -
October 1, 2001
“Don’t mistake activity for achievement.” –John Wooden April 22, 2021 «Title» «First_Name» «Last_Name» «Job_Title» «Company» «Address1» «Address2» «City» «State_» «Postal_Code» Dear «Salutation»: If Hollywood made a movie based on the events that drove financial markets during 1Q 2021, most viewers would find the plotline too farfetched. (Then again, the same could probably be said for most of 2020’s major headlines!) The year started out with the Georgia senate runoff races securing Democratic control of Congress (via the Vice President’s Senate tiebreaking authority), paving the way for more fiscal stimulus than would have occurred with divided government. Then, on January 6, protesters in support of then-President Donald Trump stormed the Capitol as Congress met to confirm President-elect Joe Biden’s election victory. The protests turned violent, causing lawmakers to shelter in place. Ultimately more than 140 people were injured, and 5 people died, including a police officer. And all this occurred within the first seven days of the year! Then the Reddit/WallStreetBets crowd burst on the scene, with nonprofessional investors informally banding together to buy stocks that in many cases were heavily shorted (presumably by hedge funds), causing a “short squeeze” in certain stocks, most notably mall-based video game retailer GameStop. At one point during January, GameStop shares had advanced 1,741% for the year! This short squeeze destroyed some hedge funds and left former star hedge fund manager Gabe Plotkin of Melvin Capital nursing a 53% loss for January, causing him to seek a capital injection from his former boss, Steven Cohen, and Citadel Securities’ Ken Griffin. -
Introduction: the Carried Interest Loophole 7
Simply stated, the carried interest loophole is the mistreatment of hedge fund and private equity fees as capital gains, rather than ordinary income. CONTENTS 3 | Introduction: the Carried Interest Loophole 7 | What is the Carried Interest Loophole? 10 | The Fight to Hold New Jersey Billionaires Accountable 11 | Meet The Billionaires – MFP Investors, Michael Price – Omega Advisors, Leon Cooperman – Redwood Capital Management, Jonathan Kolatch – Glenview Capital, Larry Robbins 19 | Methodology 22 | Who Are the Hedge Clippers? 23 | Press + General Inquiry Contacts INTRODUCTION: THE CARRIED INTEREST LOOPHOLE Understanding what the Instead, with last year’s new federal tax law, Trump and Republicans chose to increase the trillions of Carried Interest Loophole dollars going to billionaires and corporations while is and why Trump and threatening vital investments in housing, education 2 Congressional Republicans and healthcare. During his presidential campaign, President Donald kept it alive in the Federal Trump pledged to close the loophole, saying that “the Tax Law. hedge fund guys are getting away with murder...I have hedge fund guys that are making a lot of money The carried interest loophole is that aren’t paying anything.” among the most costly and wasteful Now, of course, many of those “hedge fund guys” are tax loopholes out there. in the Trump administration or otherwise advising or funding Trump. It’s a massive giveaway to hedge fund and private equity firms that costs federal taxpayers $18 billion each year. Here’s how it works: These firms charge their investors fees for managing their money, but rather than classifying this as income they deem it carried interest, allowing them to pay lower tax rates. -
U.S. Articles Bibliography, Fall 2020
U.S. Articles Bibliography, Fall 2020 Bibliographer: Todd M. Michney, PhD, is an Assistant Professor in the School of History and Sociology at the Georgia Institute of Technology, where he teaches courses in 20th century United States history. He is the author of Surrogate Suburbs: Black Upward Mobility and Neighborhood Change in Cleveland, 1900-1980 (University of North Carolina Press, 2017). U.S. Articles: General Bush, Perry. “Lima: The Vibrant Life and Uncertain Death of a Train Town.” Ohio History 126:2 (2019): 38-63. Gonzales, David-James. “El Cine Yost and the Power of Place for Mexican Migrants in Orange County, California, 1930–1990.” Journal of American Ethnic History 39:4 (2020): 42-59. Goodman, Anna. “Karl Linn and the Foundations of Community Design: From Progressive Models to the War on Poverty.” Journal of Urban History 46:4 (2020): 794-815. McAslan, Devon and Stephen Buckman. “Water and Asphalt: The Impact of Canals and Streets on the Development of Phoenix, Arizona, and the Erosion of Modernist Planning.” Journal of the Southwest 61:3 (2019): 658-90. Newman, Mark. “The Diocese of Savannah and Desegregation, 1935–73.” Catholic Historical Review 106:2 (2020): 282-311. Ress, Stella A. “Chicago’s Marillac House: A Case Study in Diversifying Our Understanding of the Settlement House Movement in the United States, 1914–1964.” Journal of the Illinois State Historical Society 113:1 (2020): 40-66. Smith, Ryan K. “Disappearing the Enslaved: The Destruction and Recovery of Richmond’s Second African Burial Ground.” Buildings & Landscapes 27:1 (2020): 17-45. Wondra, Keith. “Hell After Sundown? The Image and Identity of West Wichita.” Kansas History 43:1 (2020): 2- 13. -
The Uptick Rule 3.96 Background Briefing –Is A
defending a market attack - the uptick rule 3.96 CLEARED FOR RELEASE 07/16/2020 [Economic Battle PlanTM points: 100) Background Briefing –Is a planned stock market attack in the works? What we must do now to stop it! A stock market crash can determine an election’s outcome. It has happened before…. On September 11, there was a naked short-selling attack on Lehman Brothers, triggering the worst market collapse since the Great Depression. It was done right before the 2008 election and it literally shifted the outcome. The stock market has been a strength for the Trump administration, but there are indications history could repeat itself soon. Economic Warfare expert Kevin Freeman reviews how the stock market can be used as a secret weapon to influence the 2020 Presidential election. Statistically, the stock market performance in the last three months before an election determines who wins the White House 87% of the time. July through November is the critical point in the financial markets and our adversaries recognize it. Even George Soros warns Trump of a potential economic doom before election. In this briefing Kevin Freeman explains potential attacks adversaries have considered and a simple rule that could prevent a timed economic attack on the US stock market. It is critical action is taken to reinstate this rule now! Your Mission: To understand the economic tactics adversaries have used against the US in the past and to help avoid another economic attack on the US stock market. Also, to help us take on Wall Street to: 1. Reinstate the Uptick Rule 2. -
Cecilia Diaz Critical/Cultural Methods Dr. Bob Bednar 4/8//21
Cecilia Diaz Critical/Cultural Methods Dr. Bob Bednar 4/8//21 Research Project Draft Protests in the name of social reform have recently undergone drastic transformations in how they are founded and manifested. The ascension of social media use in the early 2000s gave rise to streamlined instant communication between people that otherwise may have never communicated organically. History has proven that we gather together in times of hardship and join forces when those hardships necessitate change and reform. The internet eliminates the practical issue of distance and facilitates the possibility of an infinite number of formed communities. In the case of protest, it facilitates the ability to organize and gather to demand social and political change. Sebastián Valenzuela suggests that one explanation for use of social networks and political protest may be online expression as a foundation for action. It is stated, “In addition to cognitive preparation, the expression of opinions can be facilitators of political protest” (Valenzuela, 2014). Research has shown that when individuals talk about political subjects publicly, they are more likely to mobilize and engage in political activities. The expression “allows people to face their ideas, make arguments, and reflect on the information obtained” (Schmitt-Beck, 2008). Platforms like Twitter and Facebook have acted as multiplexes for the expression of political views and serve as the foundation for many modern protests such as the Black Lives Matter movement, #MeToo, Arab Spring, and the Sunflower Student Movement. The protest this study will focus on is unique in that it was not founded as a politically driven protest but became one, or perhaps more accurately, was received as one as it gained popularity in mainstream media publics. -
Copy of Bills.Effective1.1.18-2-Liz.Xlsx
Bills Effective 1/1/2018 Page 1 Chamber # Senate Sponsor Short Description Comm. Description Removes the trigger provision from Illinois law that would reinstate previous state policy banning abortion in the event Roe v. Wade is overturned by the HB 40 Steans, H ABORTION‐VARIOUS U.S. Supreme Court. Clarifies the procedure for a court establishing jurisdiction over parties in a HB 188 Raoul, K CIVIL LAW‐TECH case. Makes several changes to the Common Interest Community Association Act and the Condominium Property Act to improve management of condominium HB 189 Raoul, K CIVIL LAW‐TECH boards. NURSING HOME‐ Amends the Nursing Home Care Act to make it clear that an identification HB 223 Martinez, I RESID ID WRISTLET wristlet may be placed on any resident per a physician's order. Allows high schools to establish partnerships with local law enforcement to create police training academy job training programs; Requires ISAC to SCH‐POLICE JOB administer a scholarship program for students who have participated in such HB 243 Van Pelt, P TRAINING PROG programs and have been accepted into one of the state's public universities. INVESTIGATIONS OF Requires each law enforcement agency to develop a written policy regarding HB 270 Stademan, S POLICE the investigation of officer‐involved criminal sexual assaults. PROCUREMENT‐ Requires mobilization payments be made to subcontractors when the contract HB 284 Harris, N MOBILIZATION PAY with IDOT provides for mobilization payments. Requires insurance companies to periodically check any unclaimed life LIFE INS‐UNCLAIMED insurance policies against a state death registry to ensure families are receiving HB 302 Collins, J BENEFITS their due life insurance payouts. -
Reddit Users Unite to Buy Gamestop Shares and Turn Stock Market World Upside Down
Reddit Users Unite To Buy GameStop Shares and Turn Stock Market World Upside Down Pdf Published On January 30, 2021 06:19 AM Kyle Murphy | January 30, 2021 06:19:02 AM 0 What happens when an online chatroom convinces everyone in it to buy one stock simultaneously? Individual investors win and hedge funds lose big and people who have been trading stocks in suits rage at those trading stocks from their phones. The stock market saw just that with GameStop over the past few weeks. On Jan. 15, GameStop was valued at $35 but on Jan 28 it was valued at $469.42. This astronomical increase has been tied to a Reddit Forum, Wall Street Bets, whose users learned that Melvin Capital “shorted” GameStop, betting that the stock price would fall, and people in the forum decided that they would buy the stock so that Melvin Capital would lose their money. This initial reaction set off a chain of events that will most likely be remembered for a long time. The stock price of GameStop has since gone on a wild ride that has all media outlets glued to this constantly developing story. On Tuesday, the stock opened at $88.28 but closed the day at $145.96; by the closing bell on Wednesday it rose all the way to $345. The stock's peak on Thursday was $469.42 before trading companies like Robinhood took away the option to buy GameStop stock, causing the stock to temporarily plummet all the way down to $132 by 11:30 a.m on Thursday. -
Obama Links 2012 6-1-12
OBAMA LINKS 2012 6-1-12 Obama to Hold Six Fundraisers in One Day- 5.31.12 http://www.whitehousedossier.com/2012/05/31/obama-hold-fundraisers-day/ With Republicans steamrollering ahead with a group of well-fed Super Pacs and an increasingly successful money effort by Mitt Romney, President Obama Friday will attend six fundraisers, a possible sign of budding desperation for a campaign that is lagging far behind its initial fundraising expectations. Obama will travel to Minneapolis, where he will ensconce himself at the Bachelor Farmer Restaurant for three successive fundraising events. Afterward, he moves on to Chicago for a fundraiser at the Chicago Cultural Center and then two events at what appear to be separate private residences. In April, Obama’s fundraising total actually declined by nearly $10 million from the $53 million he took in during March….. President Obama’s Tortureless Alternative to Waterboarding- Killing Secret ‘Kill List’ Proves a Test of Obama’s Principles and Will-NY TIMES -5.29.12 http://www.nytimes.com/2012/05/29/world/obamas-leadership-in-war-on-al-qaeda.html?_r=2&partner=MYWAY&ei=5065 . WASHINGTON — This was the enemy, served up in the latest chart from the intelligence agencies: 15 Qaeda suspects in Yemen with Western ties . The mug shots and brief biographies resembled a high school yearbook layout. Several were Americans . Two were teenagers, including a girl who looked even younger than her 17 years. …………… Mr. Obama is the liberal law professor who campaigned against the Iraq war and torture, a nd then insisted on approving every new name on an expanding “kill list,” poring over terrorist suspects’ biographies on what one official calls the macabre “baseball cards” of an unconventional war. -
Spanish I: Beginning Spanish Language and Culture
Humboldt State University Digital Commons @ Humboldt State University Textbooks Series (imprint) Humboldt State University Press 2020 Spanish I: Beginning Spanish Language and Culture Matthew Dean Humboldt State University Follow this and additional works at: https://digitalcommons.humboldt.edu/textbooks Part of the Language and Literacy Education Commons, Modern Languages Commons, and the Spanish and Portuguese Language and Literature Commons Recommended Citation Dean, Matthew, "Spanish I: Beginning Spanish Language and Culture" (2020). Textbooks Series (imprint). 4. https://digitalcommons.humboldt.edu/textbooks/4 This Book is brought to you for free and open access by the Humboldt State University Press at Digital Commons @ Humboldt State University. It has been accepted for inclusion in Textbooks Series (imprint) by an authorized administrator of Digital Commons @ Humboldt State University. For more information, please contact [email protected]. Spanish I: Beginning Spanish Language and Culture Spanish Beginning I: Spanish Spanish I: Beginning Spanish language and Culture is an excellent digitally-free alternative to the high-priced college Spanish textbook and, being an open- access textbook, it affords instructors flexibility and versatility. It offers a Spanish I comprehensive introduction to the study of the Spanish language as it affords students a solid foundation by guiding them through the learning process in a non-intimidating way. The explanations of the inner-workings of the language are clear and to the point, being very evident that the author never loses sight that the intended audience are learners at a beginning level with no or very little previous experience with the language. The presentation of grammatical points Beginning Spanish and vocabulary are short, well-paced, and followed by individual practice at home and interpersonal practice in class.