Item — HN Reader

And you say this for other positions that you don't like? Puts of $fb? Calls on $nflx? Of course not.

The reality is that hedge funds engaged in illegal naked short selling, confident that they would never get caught because the SEC has essentially abandoned its role. And a group of retail investors decided simply to buy and hold registered shares of that firm, knowing that simply by doing that, they could bleed those SHFs out or force them to close their position at a much higher price. There's a lot of due diligence out there that backs that position up if you want to look -- but you don't.

Here's the thing, you can like it or not like it. No one cares. However, it's worth noting that it's the only position you'll see be called names and screamed at. "Don't hold! Oh God it's been a year why are you still holding?! God! Stop! Please, stop!"

1 comments

You misunderstand every reply here and elsewhere. Nobody cares that you are still holding. Nobody. What you do with your portfolio is up to you.

What people do care about is telling you that no, there isn’t some shadowy cabal of hedge funds with your name pinned to a wall under the heading “number one risk to the financial system”.

Continue to hold, but please do understand you’re quite deep in a self-reinforcing grandiose doomsday conspiracy that makes you feel special. None of which have ever historically bore fruit, not for lack of waiting and money invested.

I'm not holding. I don't own any GME stock. I've just been following the story.

> some shadowy cabal of hedge funds

You keep diving into hyperbole. It's just hedge funds that bought naked short positions and got caught by the market. It's pretty simple.

> Will it go to $10,000? Who knows. There's a price not much above that which would crush world markets to the point where it would usher in the apocalypse.

> Instead an army (make no mistake) of small retail investors…

> You may not understand it, but this is war.

> Don't be confused. This is war.

I keep diving into hyperbole? I think this conversation has run its course.

There's a reason I've been following the story. There is nothing new about hedge funds naked shorting (essentially counterfitting) shares, and nothing new in the SEC's refusal to do anything about it.

What's new here is that this is the first time in history that retail has simply used collective buying power to catch them out at it. By simply en masse buying and holding directly registered shares, it puts them over a barrel.

The statements that it's war or what could happen aren't hyperbole -- and I find that fascinating. We'll see...