Reply to thread

Message: [QUOTE="Fat tire 13, post: 3712794, member: 6171"] I think the situation is a little more complicated than that. When it first unfolded, I very much believed there were shady forces at work (Stevie/Melvin/Citidel) blocking people from buying. Then digging deeper into volatility and the credit that needed to be posted to the clearinghouses, it made me realize there were more logical explanations. The fact that RH's CEO could not articulate the problem made it sound worse than it was in practice. Edit - adding a couple things on RH. They did raise $3.4 billion last week and had 600K downloads on Friday. I see people talking about leaving, but need to see some evidence Say GME and the other meme stocks give back all the gains. Who loses, who is to blame? Portnoy is still blaming RH. Let's be clear though. RH blocking those buy orders actually kept people from buying the top, and the restriction was for one day. I don't know if that narrative will hold for the long term. Portnoy sold everything this morning, and then tweeted about it. He front ran his disciplines. That's only a minor point. Portnoy does an excellent job trash talking, and took Stevie Cohen down. He very much connects with the regular person and points out hypocrisy when he sees it. However, he is also promoting behavior that is financially unhealthy (reckless day trading). He can scream all he wants about the system being rigged. In the end, if you are a person who pissed away a bunch of money in the market, you have to decide what you learned from the experience. And the world moves quickly. That anger may be channeled to something else than the hedge funds. The fact is there are all sorts of relationships within Wall Street that are less than moral, and borderline illegal. I'm just not convinced this was the moment that changes things What may happen? More restrictions on short selling, and more circuit breakers for single stock volatility. That is my best guess, and even lean towards no new regulations. There are 1000s of hedge funds. If 1-2 blow up because of GME, they are a minor blip in a long history of hedge funds blowing up [/QUOTE]

Verification: What is a Syracuse fan's favorite color?