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Official BBO Hijacked Thread Thread No, it's not about that

#3701 User is offline   y66 

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Posted 2021-January-29, 14:07

View Posty66, on 2021-January-25, 16:59, said:

Just got an email from the Post Office telling me stamps I ordered on Jan 2 and received the following week have been shipped. I hope these guys aren't involved in vaccine distribution.

I just got a second batch of stamps today which I had forgotten were included in my original order but not issued until a few days ago. Sorry USPS. I am the one who should not be involved in vaccine distribution or record keeping, not you.
If you lose all hope, you can always find it again -- Richard Ford in The Sportswriter
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#3702 User is offline   Winstonm 

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Posted 2021-January-29, 14:14

View Posty66, on 2021-January-29, 14:07, said:

I just got a second batch of stamps today which I had forgotten were included in my original order but not issued until a few days ago. Sorry USPS. I am the one who should not be involved in vaccine distribution or record keeping, not you.


I'm glad you received stamps instead of a batch of vaccine!
"Injustice anywhere is a threat to justice everywhere." Black Lives Matter.
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#3703 User is offline   shyams 

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Posted 2021-January-29, 15:25

My last post on the reddit investors saga

How WallStreetBets Pushed GameStop Shares to the Moon (Bloomberg: Link here)
By Brandon Kochkodin

Extract from the Bloomberg article said:

Twenty-two months ago, inklings of a bull case started showing up on WallStreetBets, the Reddit forum that has become synonymous with retail zeal in the pandemic age. With GameStop’s shares and profits both falling for years, a thread by user “delaneydi” said detractors were undervaluing the retailer’s cash, with which the shares were deceptively cheap. “My thesis is not contingent on a turnaround or business expansion, this is solely a deep value play,” wrote delaneydi. “Even if we assume double-digit top line sales declines and gross margin contraction, the companies valuation does not reflect the current earnings power, especially when considering the companies large cash horde.” (WSB posters are not distinguished by their spelling or punctuation.)

The view fell mostly on deaf ears as the shares continued to tank and enrich bears. GameStop fell 15% in April of that year, 12% in May, 28% in June and 27% in July. Yet two things happened around that time to lay the foundation for the events of this month.

One was Michael Burry –- of Big Short fame and the veritable spirit animal for internet stock gurus hoping to hit the big time –- saying he was long the shares through his fund Scion Asset Management.

Second was the surfacing of an idea, first in jest, that eventually evolved into the blueprint for the crowd-sourced short squeeze that has blown up in January. Could GameStop fall so far as to make a takeover possible -- by WallStreetBets itself?

...
...


Just three weeks after an Aug. 19, 2019, press release from Burry’s Scion urging GameStop to buy back $238 million in shares and a Seeking Alpha post warning about the dangers of shorting GameStop, the forum’s future hero showed the goods.

Another online watershed occurred when user “Senior_Hedgehog” alerted the YOLOing masses to the “biggest short squeeze of your entire life.” It was April 13, 2020, and, according to the elder Hedgehog, 84% of the retailer’s shares were held short. The final all-caps sentence imploring GameStop owners to call their brokers and tell them to not lend them short opened a new theater to wage war against short-sellers.


,,,

If the above is interesting, please do read the rest of the article by following the link.

Also, please don't get involved in these type of deals. They can be incredibly toxic and can turn very hugely loss-making very quickly!
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#3704 User is offline   Zelandakh 

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Posted 2021-January-29, 20:40

View Postshyams, on 2021-January-29, 15:25, said:

If the above is interesting, please do read the rest of the article by following the link.

Alternatively, just watch Trevor Noah and Stephen Colbert. Or for something more serious and detailed aimed at stock market newbies, there's always TLDR.
(-: Zel :-)

Happy New Year everyone!
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#3705 User is offline   thepossum 

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Posted 2021-January-29, 21:11

View Postshyams, on 2021-January-29, 15:25, said:


Also, please don't get involved in these type of deals. They can be incredibly toxic and can turn very hugely loss-making very quickly!


I tried to avoid getting dragged into all the media hype over recent days but actually weakened somewhat and started reading a little today (ideally not in the media outlets beating it up for bait and advertising revenue)

Thanks for your few posts on the issue too that dont require me to waste my time and contribute to anyone's profits AFAIK

One thing that concerns me all ways about this stuff and the seeming attitude among some that the share market only benefits the wealthy, if the big funds are smashed there goes much of ordinary workers and small business wealth too

I'm very curious about zero fee platforms allowing people to essentially play without caring about consequences. I wondered how they made their money - seemingly they make money on your credit accounts, they sell your data to bigger players and make margin loans to those who dont understand risk

I'm a bit of a gambler and risk taker with very small amounts or with fake money, but all my trading activities had a rather conservative risk approach. I may not be a billionaire but I still have a home to live in and something of a life. You cant have it all all the time. But if I had cash back in March last year I would have done alright going long in a very safe market. From memory when I was starting to get anxious about the plummeting market, I checked my funds and found the managers were increasing exposure to shares at that time. Pays to let people manage stuff who have a clue

Of course the most frightening thing for me is firstly there are always extreme risks from time to time nobody forsees or can plan for, you never know for sure when your life is going to be turned upside down. But when those risks to your hard earned savings seem to come from irresponsible and/or downright criminal quarters manipulating markets its gets a bit concerning. I have good reason to believe I was personally targetted many years ago when trading by some malicious unknown trading entity unknown - who knows why. Maybe just something personal. Its not just a case of feeling that way. In my case I received information or evidence that someone was doing it to me, following my trades and selling against me personally. Still dont know who and why. And also from limited knowledge I dont think you have to be a big player to personally attack a target through market manipulation. Depends on the shares of course

I know this will be of no interest but I need to say it somewhere. I used to trade quite regularly (always long short-term trades), I even tried different "expert" rules on porfolio management, handling of risk, using some of their buying/selling rules (turned out not to be as good as my own) etc Then as you all know if someone starts going against you personally it becomes a game theoretic exercise. After observing for a while and getting information from several confirmatory sources of what I observed you basically just have to change your game - even withdraw without losing much if any - I still dont know who it was and why. The market should not be a personalised targetted game. Say someone does decide to target you maliciously, works out your strategy, your rules etc. If they are too predictable as they were once they can use your rules against you. Pays to be flexible and unpredictable. I never used rules again, certainly not that "expert"'s rules. They were all about avoiding profits and losing anything you made - crazy rules :)
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#3706 User is offline   thepossum 

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Posted 2021-January-29, 23:12

But sorry, getting back into more conversational mode

Are all those funds "bad" in that sense. I remember getting into a quite passionate debate when learning about trading. I was of the more investor trader type looking for value and investing/trading long - I used to think short-trading was somehow unethical. However it was pointed out that when something is overvalued that controlled and disciplined short-selling is necessary to correct markets

I'm curious about all these supposed "evil" funds and what they do

But given that I stopped trading when intelligent software was starting to dominate trading there was not much chance for small retail traders to trade safely unless you monitor everything very closely or had smart software of your own. Unlikely that your own software could compete though, and relying too much on automation can kill you too. Long time ago. Dont have time resources or capital to burn
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#3707 User is offline   Zelandakh 

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Posted 2021-January-30, 14:16

View Postthepossum, on 2021-January-29, 21:11, said:

I'm very curious about zero fee platforms allowing people to essentially play without caring about consequences. I wondered how they made their money - seemingly they make money on your credit accounts, they sell your data to bigger players and make margin loans to those who dont understand risk

This is simply not really true, at least for the reputable ones. These companies make the biggest chunk of their profits through PFOF and typically supplement that with optional paid services that provide additional tools and possibilities.
(-: Zel :-)

Happy New Year everyone!
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#3708 User is offline   y66 

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Posted 2021-January-30, 20:40

Posted ImageDonald Hall received a National Medal of Arts from President Barack Obama in 2011.

Reading some of Hall's stuff now. Love this photo.
If you lose all hope, you can always find it again -- Richard Ford in The Sportswriter
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#3709 User is offline   thepossum 

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Posted 2021-January-31, 18:01

View PostZelandakh, on 2021-January-30, 14:16, said:

This is simply not really true, at least for the reputable ones. These companies make the biggest chunk of their profits through PFOF and typically supplement that with optional paid services that provide additional tools and possibilities.


I disagree. As far as I can see I represented exactly how they make money. My perspective on the level to which people understand risk is a commentary
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#3710 User is offline   thepossum 

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Posted 2021-January-31, 18:03

View PostZelandakh, on 2021-January-30, 14:16, said:

This is simply not really true, at least for the reputable ones. These companies make the biggest chunk of their profits through PFOF and typically supplement that with optional paid services that provide additional tools and possibilities.


I disagree. As far as I can see I represented exactly how they make money. My perspective on the level to which people understand risk is a commentary

There is a cost associated with trading. If a platform does not charge you they are making money from you some other way. Its simple and obvious

In fact the costs of the transactions were the biggest impediment or cost against my profits when I used to trade. I should have used a zero cost platform :)
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#3711 User is offline   y66 

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Posted 2021-February-01, 04:46

A different take on GameStop:

Noah Smith said:

https://noahpinion.s...WxTIGjQx7JZ0hfE

Among the many amazing things about the GameStop episode is how various populists of both the Left and the Right have tried to present the struggle of day traders against hedge funds as a revolt of the people against the powerful. Here’s Alex O’Keefe, the creative director of the Sunrise Movement (the radical environmentalist group that famously confronted Dianne Feinstein in her office):

Alex O'Keefe said:

The Gamestop saga is one of the greatest direct actions. The people are seizing the means of production. In America that's not a factory it's the stock market. Where imaginary value gets put on our labor, where speculative capital gets to bet & believe in many possible worlds.
January 28th 2021

AOC got in on the day traders’ revolution too:

Alexandria Ocasio-Cortez said:

This is unacceptable.

We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit.

As a member of the Financial Services Cmte, I’d support a hearing if necessary.

And amazingly, Ted Cruz agreed!

Tucker Carlson came in with his economic-populist-but-from-the-Right bit: "Don’t miss the point of all this".

Even Andrew Yang was feeling it: "GameStop has changed the game forever".

Now, first of all, just to be clear, a bunch of day traders putting the short squeeze on some hedge funders, while fun to watch, is not a revolution. It is not even really an uprising of the popular and oppressed; it’s just some people wanting to make a bit of money. Now, wanting to make some money is perfectly fine, and making it by successfully trading against hedge funds is a perfectly good (and funny!) way to do it. But this kind of thing is not going to materially effect the distribution of wealth and power in the United States of America, not even if it happens a hundred times.

But the really interesting thing here is the spectacle of a bunch of people rushing to try to lift the banner of the GameStoppers as a populist cause. After seven years of protest, unrest, Trump, terrorism, Nazis, pandemic, and insurrection, it gives me a profound feeling of relief to see people getting riled up over something so utterly, hilariously inconsequential to the future of the nation.

Which makes me wonder. If America’s populists are running around trying to feed off the energy of anything that smells vaguely like revolution, does that mean that their usual food supply is shrinking? After those seven long years, is a growing chunk of the American populace simply tired of being up in arms about things?

Ages of unrest rarely end because all the problems that sparked the unrest are solved. Often there’s some progress, but mostly people just seem to get exhausted, or other events intrude. Recently I’ve been reading a bunch of books about the late 60s and 70s — America’s last big age of unrest — to try to get a preview of what might happen in the 20s. Nixonland, The Invisible Bridge, and Days of Rage have been especially helpful here. One insight is that although Nixon and the Vietnam War didn’t begin that age of unrest, a lot of the popular anger came to focus on them. People might have gotten tired of the unrest before 1973. But as long as we were still fighting in Vietnam and Tricky Dick was in the White House, it felt like people couldn’t just go back to their lives. But when we withdrew from Vietnam and Nixon resigned in disgrace, a lot of people seemed to think “Well, OK, that’s enough of that,” and increasingly went back to focusing on their daily lives. The mid and late 70s featured far fewer riots than the late 60s, and the frequent terrorist attacks of the early 70s trickled off.

Of course, not everyone did that. In fact, a shrinking fringe got more radical in the 70s — think of the Symbionese Liberation Army. There were two assassination attempts on President Gerald Ford within the space of three weeks! That steady trickle of nutcases on the news probably made the normies feel like they were still living in an age of mass unrest (the good old Availability Heuristic). And that in turn might have deepened their own exhaustion.

So what’s the analogy to the 2020s? The unrest began over Black people being killed by cops and women getting sexually harassed at work, in addition to some more longstanding and diffuse economic and social issues. There has been some progress on those fronts, but the problems haven’t been fully solved (and may never be). But Trump, who became the focus of popular rage as well as its generator, is gone, and after much vigorous debate and a few exploded eyeballs and cracked skulls, the country has generally decided that both police racism and sexual harassment are bad. As in the 70s, the most flagrant irritants have been removed, even if the underlying maladies remain uncured. Also, years of general catastrophizing and despair tend to reset people’s expectations, which probably dampens popular anger, at least if you believe the Revolution of Rising Expectations theory.

If the 70s analogy holds, we can expect to see increasingly concentrated insanity among a shrinking extremist fringe (QAnon, etc.), accompanied by scattered acts of stochastic terrorism, while the great mass of people slowly shuffle back to their quotidian concerns and settle in for a decade of malaise. Ambient populist energy will continue swirling around for a while, latching onto goofier and goofier causes (like day trading!) until it finally drains away into a general goofiness.

But “general goofiness” as a means of recovery from an Age of Unrest is a topic for another post. Incidentally, I’m now reading Reaganland, the sequel to Nixonland and The Invisible Bridge…

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#3712 User is offline   shyams 

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Posted 2021-February-01, 05:16

Quote

AOC got in on the day traders’ revolution too:

And amazingly, Ted Cruz agreed!

Isn’t Noah Smith glibly conflating Alex O’Keefe’s tweet “on power struggle” with AOC’s tweet (and Sen Cruz’s) even though the two are largely unconnected topics?

Alex talks about revolution, seizing the means of production, etc. whereas AOC and Ted Cruz are merely pointing out the hypocrisy involved when Robinhood steps in to protect the mega-rich hedge funds even as even as the very same 'Hedgies' talk(ed) about “fairness” or “open/transparent market” or “short-sellers help regulate the system” in other situations.

Quote

But the really interesting thing here is the spectacle of a bunch of people rushing to try to lift the banner of the GameStoppers as a populist cause.

I vehemently disagree with this interpretation. The large masses of people speaking out in favour of the day traders are doing so to ensure the hedge funds don’t rig the market against these day traders via some underhand methods.

The rest of the article --- where Noah stretches the tenuous connection further --- does not merit too much analysis. It has its basis in a faulty premise and if one pulls away that premise, the rest of the talk is irrelevant. This is NOT about populism.
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#3713 User is offline   y66 

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Posted 2021-February-01, 06:11

View Postshyams, on 2021-February-01, 05:16, said:

Isn’t Noah Smith glibly conflating Alex O’Keefe’s tweet “on power struggle” with AOC’s tweet (and Sen Cruz’s) even though the two are largely unconnected topics?

Alex talks about revolution, seizing the means of production, etc. whereas AOC and Ted Cruz are merely pointing out the hypocrisy involved when Robinhood steps in to protect the mega-rich hedge funds even as even as the very same 'Hedgies' talk(ed) about “fairness” or “open/transparent market” or “short-sellers help regulate the system” in other situations.


I vehemently disagree with this interpretation. The large masses of people speaking out in favour of the day traders are doing so to ensure the hedge funds don’t rig the market against these day traders via some underhand methods.

The rest of the article --- where Noah stretches the tenuous connection further --- does not merit too much analysis. It has its basis in a faulty premise and if one pulls away that premise, the rest of the talk is irrelevant. This is NOT about populism.

Smith isn't saying that the GameStop revolution is about populism. He's saying that the fact that populists on both sides of the aisle are jumping on this "goofy" issue suggests they don't have anything better to jump on and that maybe this is a sign of weariness and a return to normalcy.
If you lose all hope, you can always find it again -- Richard Ford in The Sportswriter
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#3714 User is offline   thepossum 

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Posted 2021-February-02, 17:13

Just reading the sad news about a group of newbie traders finding out that (risky) trades can involve losses as well as "gains"

I think the most amusing headline I read recently was part of the continued growth of the Elon Musk mythology where he was described as being an "anti-establishment hero" or words to that effect :)

Just reading one of the amusing comments above where playing the sharemarket is regarded as some great revolutionary Marxist act too. Too funny
As far as I can see the workers keep being sucked into scams and losing their means of production. Thats my take :)

On a slightly related topic, a few decades back Labor and Business here worked out some scheme (scam) where workers (and small businesses)sank all their spare cash into this wonderful superannuation scheme (scam). From what I can see for many of them they have absolutely no control over those means of production when they need them at all. Others enjoy those benefits. It would be wonderful to be connected to any of those "looking after" our savings :) The best thing about our scam was that it was trusted because there were players from organised Labo(ur) and Business involved so we didnt have to worry. I think they all have very comfortable lives :)

Don't get me started on that other revolutionary scam (the gig-economy) which is tantamount to peasantry as far as I can see where workers do indeed own their means of production (like a few farm tools equivalent) and till other people's lands (for other's profits) under immense competition and even a variant of a tragedy of the commons etc
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#3715 User is offline   y66 

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Posted 2021-February-04, 11:34

Matt Levine at Bloomberg said:

I wrote yesterday that what I really want to read right now are accounts of how hedge funds made decisions when confronted with the weird price action in GameStop Corp. stock in the last couple of weeks. Clearly some hedge funds were trading the stock in incredibly choppy Reddit-driven markets, and I just want to know what they were thinking. Did they have some sort of robust tested process for trading based on momentum or social-media sentiment or technical factors, and coolly apply that process to the craziness around GameStop? Or were they distressed-credit or global macro funds who were like “this is too crazy, I cannot resist a trade like this”?

The Wall Street Journal came through in a big way with this story about Senvest Management LLC, a (now) $2.4 billion equity hedge fund that made almost $700 million on GameStop. Their process for deciding how to buy GameStop was sort of boring and normal and pre-nonsense: They got interested in the stock after hearing “a presentation from the new GameStop chief executive at a consumer investment conference in January 2020,” did research, “spoke with management, sussed out competitors and noted the involvement of activists in the stock.” It took them until September to start buying, and “by the end of October, Senvest owned more than 5% of the company, paying under $10 a share for the bulk of the stock.”

Their process for deciding how to sell GameStop, however, really rose to the weird occasion:

After the market’s close on Jan. 26, Tesla Chief Executive Elon Musk tweeted “GameStonk!!” a rallying cry to users of Reddit’s WallStreetBets forum, who had put their support behind GameStop.

Senvest, which had slowly been trimming its position, decided to get out completely.

“Given what was going on, it was hard to imagine it getting crazier,” Mr. Mashaal said.

That implies that they got out mostly on Jan. 27, when GameStop closed at its all-time high.[1] They got into this stock based on fundamental research conducted over months; they called the top perfectly based on an Elon Musk tweet.

Honestly I am tearing up a little? These guys get it. What a great investment process. I hope someone is working on a revised edition of Graham & Dodd that incorporates the Did Elon Musk Tweet Yet metric. The best time to buy a stock is a few months before Elon Musk tweets about it; the best time to sell it is the day after he tweets. If Elon Musk just sold advance notice of his tweets to hedge funds, he could be the richest person in the world.

To be clear, though, this is not quite what I had in mind yesterday, since these guys got into their GameStop position long before it went nuts. I still want to read about fast-money hedge funds who had no position in GameStop until last week, and who were then like “huh, GameStop at $147.98, I think it has one more day to run” and bought the stock for no fundamental reason at all. “‘Lol GME to 1000 [rocket emoji] [rocket emoji] [rocket emoji]’ is a perfectly good hedge fund thesis right now,” I wrote last week, and I want to read about a hedge fund that actually tried it.

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#3716 User is offline   thepossum 

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Posted 2021-February-04, 16:08

It seems that over my lifetime so many trusted institutions, industries, whatever, have been taken over by a load of immature, irresponsible and often rather incompetent people. And so many powerful people everywhere are playing into the trivialisation and game-playing nature. I guess they all got a bit too big for their boots. Everything is being played with and hard working people and business people are the ones who always suffer

All I'm saying is can we trust any of these characters with anything any more. Our savings. Our freedoms. Our rights. Our privacy. Our lives etc

Seems sadly that a bunch of greedy and totally irresponsible anarcho-capitalist types who abuse the use of the anarcho- tag in claiming to care about people's well being and social justice. All they care about is their own greed. I actually despise the use of the anarcho tag with them at all. If anarchy ever stood for anything it was about justice and progress and freedom from oppression. Not f**king around and playing with people's lives for amusement and profit

Did I mention we also need to trust those characters with the well-being of the whole planet. Yet they seem to be educating a whole generation that all you ever need do to be successful in life is play around with an app. The sad thing is many of them think they are hard up struggling generations yet many of them have much more as children than their grandparents did after a lifetime's productive hard work

Final sentences. Sadly the ignorant attitude that by attacking worker's pensions you are attacking the wealthy is part of all the other political claptrap sold to an ignorant younger generation with their divisive generational warfare for close to 25+ years now. Dangerous times indeed when a wealthy privileged younger class thinks they are badly off and goes after ordinary hard working older generations. Who is behind that politics? And dressing all this rubbish up as some kind of progressive social justice struggle when people are dying from poverty all over the world is truly disgusting. None of them would know what social justice really is. So while these new generation of global freedom fighters sit in their swanky apartments playing their consoles some old workers modest savings are flushed away and possibly some poor countries whole GDP/reserves is flushed away too. So much for your freedom fighting and justice

You start to get nervous posting stuff like this in case some ****** decides to target your super fund on Reddit
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#3717 User is offline   y66 

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Posted 2021-February-05, 07:55

Danny Heifetz at The Ringer said:

https://www.theringe...896ed87b2d9c72a

The greatest quarterback of all time is set to face off with the greatest quarterback on the planet. The result could echo throughout NFL history.

Writers at NYT said:

It’s a rare thing in sports (or any realm): An all-time great, who’s fading but still elite, is facing a potential successor. We asked some of our Times colleagues for previous matchups that this Super Bowl brings to mind.

1962 European Cup final. The Portuguese club Benfica beat Real Madrid, which had won five of the first six European Cups. The entertaining 5-3 win was “the passing of a torch,” The Times’s Rory Smith said, and confirmed the ascendence of Eusébio, a Portuguese striker.

1966 World Series, Game Two. Jim Palmer of the Baltimore Orioles, then 20, outpitched the great Sandy Koufax of the Los Angeles Dodgers. “Koufax was at the height of his powers, but his arm was killing him and this would turn out to be the last game he ever pitched,” Tyler Kepner said.

2007 N.B.A. Finals. The master triumphed this time: Tim Duncan of the San Antonio Spurs won his fourth title by beating the Cleveland Cavaliers in LeBron James’s first finals. Afterward, as Marc Stein notes, Duncan told James: “This is going to be your league in a little while.”

2009 W.N.B.A. Western Conference finals. Lisa Leslie, one of the league’s first stars, had come back from an injury for the Los Angeles Sparks. But Diana Taurasi and the Phoenix Mercury beat the Sparks — and Taurasi has gone on to become the league’s top scorer.

If you lose all hope, you can always find it again -- Richard Ford in The Sportswriter
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#3718 User is offline   y66 

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Posted 2021-February-08, 08:43

Quote

David Marchese: As far as your legacy, there’s your big Minnesota contract, there’s proving that players could successfully go pro at 18 and there’s the way you played. But what do you believe is your contribution to the story of basketball?

Kevin Garnett: It’s a sense of pride, a work ethic. I would be out there and be so energetic that I didn’t even know what to do. So I would Rahhh! I would roar or scream after something tremendous because that’s how I felt. When it comes to expression, I gave the league that monster face, you know what I’m saying? I used to play with so much tenacity that you felt it from your seat — every night. I brought excitement to the game. You don’t get a nickname like the Ticket — you don’t sell tickets — unless you’re doing something to make ’em all remember you. They didn’t call me the Freebie. They called me the Ticket.

From Kevin Garnett Isn’t Sure His Generation Could Play in Today’s N.B.A. at NYT

If you lose all hope, you can always find it again -- Richard Ford in The Sportswriter
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#3719 User is offline   shyams 

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Posted 2021-February-18, 06:52

https://www.bbc.co.u...siness-56106824

The BBC and other mainstream media has been covering the potential troubles of one of the WallStreetBets protagonists (YouTube name "Roaring Kitty"). I post this here for two reasons:

1. I guess the mainstream media was reluctant to ever reference his Reddit nickname anywhere ("DeepF&%#ingValue") because they'd rather not! :). Interestingly, Brandon Kochkodin whose Bloomberg article I had linked a few weeks ago specifically uses the Reddit nickname in the Bloomberg article without ever identifying the real person behind the Reddit ID (It's quite easy to find out who DeepF&%#ingValue really is).

2. Call me unkind but I sense an element of relish (or schadenfreude) in the tone of most media articles on the lawsuit against this Redditor. DeepF&%#ingValue is one person who converted a $60k gamble into something in excess of $11 million from this one stock alone. My sense is that the media resents such success!
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#3720 User is offline   kenberg 

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Posted 2021-February-18, 08:42

View Postshyams, on 2021-February-18, 06:52, said:

https://www.bbc.co.u...siness-56106824

The BBC and other mainstream media has been covering the potential troubles of one of the WallStreetBets protagonists (YouTube name "Roaring Kitty"). I post this here for two reasons:

1. I guess the mainstream media was reluctant to ever reference his Reddit nickname anywhere ("DeepF&%#ingValue") because they'd rather not! :). Interestingly, Brandon Kochkodin whose Bloomberg article I had linked a few weeks ago specifically uses the Reddit nickname in the Bloomberg article without ever identifying the real person behind the Reddit ID (It's quite easy to find out who DeepF&%#ingValue really is).

2. Call me unkind but I sense an element of relish (or schadenfreude) in the tone of most media articles on the lawsuit against this Redditor. DeepF&%#ingValue is one person who converted a $60k gamble into something in excess of $11 million from this one stock alone. My sense is that the media resents such success!


The link above has within it the link


https://www.bbc.com/...wsbeat-55841719

This inner link gives a quick explanation for those of us who have no idea of what this is all about. I read it, now I understand a little. Very little. I did not know what reddit was before reading this. I had never heard of GameStop.

Quite a few years back I got myself into a high stakes (by my standards) poker game. It did not take me long to realize I was in way over my head. I stayed for a while but then announced the obvious that I needed to go. Everyone understood.
It was an interesting group of guys. One of them, although he wasn't there that night, was also way over his head playing with them and they told him he was no longer to play with them since they did not want to take all of his money. He demanded to keep playing, threatening to call the IRS to report the game if they did not let him play, So I guess they let him play. I never learned how that all ended.

The idea of basing my investments on social media posts from Roaring Pussy seems absurd. Thanks to population growth, I think we can update an old expression and say that there is a sucker born every second.
Ken
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