RE:RE:An Old Boomer WarningHey there, I like the spirit but just please, please, only as much as you can “no tears” walk away from. The “we’re sticking it to them” narrative may morph into, “d’oh we stuck it to ourselves”.
I made some Bre-X money after DeGuzzman faked his helicopter death - what, no face, no hands on that corpse, that’s a bit weird! In and out for as you youths would say, a pile of tendies.
If you want some old fashioned education that will show that snakes, apes, vermin, and some crazy characters have been scheming, making and losing millions on the markets for well over 150 years, and overall, like casinos, the rules are rigged and the house never really loses, but the suckers of every variety almost always do ... go to Project Gutenberg, search Reminiscences of a Stock Operator by Edwin Lefevre, curl up and read an amazing old timey book. Loosely based on the real life of Jesse Livermore who made and lost tens of millions when that was very big money. He also was a bit OCD and ended up putting a pistol to his temple, but the ride to that unhappy ending was very interesting indeed.
One thing I’m not liking about the WSB chatter is some of the anarchist tendencies to say tear everything down ... no, improve and reform. We need capital markets.
Not clear to me that sufficient numbers of GME buyers with a “I’ll hold forever” motto understand the stock can tank on them regardless. A thirty billion market cap for a three or four billion asset is not sustainable. We all understand gravity? Valuation and markets work the same way, the pull towards fair value never sleeps.
It is all a big frolic, just play it cool. Wish you all good luck.
Old Boomer.