When was the last time you saw Billionaires crying in pain on live TV about losing some of their money? This happened today with the old man Billionaire investor Lee Cooperman on GameStop and “why this is not going to end well for the public”. Well, certainly not if you impose restrictions and handicap their access to markets, right Lee? The sorrow for the “poor billionaires” from the mainstream financial media was palpable, almost like a lap dog when its owner gets hurt.
How many times have you read or head online articles about retail investors absolutely decimating their accounts with bad bets? What was the media response?
Guess which group gathered more sympathy from the mainstream and media? The narrative was already being manufactured to smear the /wallstreetbets as “hackers” or “racist white supremacists”. Unfortunately for the narrative pushers, some left leaning figures, including even AOC, spoke out in defense of the “little guy” before a wide narrative was able to be formed, which kind of ruined it, they will have to find a new one.
Talking about market manipulation;
Do you remember Bill Ackman market manipulation on CNBC in March 2020? Oh… that was just him sharing his views, right? The result? US$2,000,000,000.00 in profits. Not manipulation.
Do you remember when Carl Icahn squeezed out the same Bill Ackman from the Herbalife trade? Not manipulation.
Do you remember when Andrew Left made a scare campaign against $SHOP (Shopify) in 2017 with a post named “THE HOTTEST STOCK ON THE NYSE IS … A COMPLETELY ILLEGAL GET-RICH-QUICK SCHEME” (all on caps). The stock was then trading at $223 and crashed significantly. Today’s price? $1,120. Not manipulation.
None of those were a obscene and disgusting case of “manipulation” but now that a group of literal retards buy call options because they found a market inefficiency, it is manipulation, “market instability” and has to be shut down? What is the difference between wallstreetbets retards and the financial billionaires? One of them doesn’t have the narrative – and financial media – in their pocket. You figure out which one is which.
Sure enough, Robinhood and many other brokerages simply “shut down” trading for retail investors, only allowing their clients to sell (probably because their hedge fund friends needed to buy to cover cheap and we know they hate fair competition). The situation escalated high enough that ended up in congress and even calls for the DOJ to investigate the matter and a congressional hearing.
Wall St big fish will have to go in front of congress and explain why and how they had to put retail investors in a crippling disadvantage.
It is too bad nothing will come out of it, just like the Tech hearings. Don’t believe me?
Well… unless the public sentiment shifts to harshly that they will be forced to come back to reality.
What do you do when you can potentially control the narrative and the media? You just shut down the retail investor, invent some excuse and that’s it. What you gonna do? Complain to the SEC? to Biden? If you have low enough ethics and self respect you can also throw a smear campaign in there as seasoning, perhaps hoping some crumbs will be thrown your way.
Lets think about it for a second, as of today, you CAN’T BUY calls on $GME, $AMC, $BB and many other stocks on the market, just SELL. However, in order for you to sell, someone has to BUY right? Who is being allowed to BUY and why? What does it take to enjoy such privilege? It’s almost like you are playing monopoly against the bank, with unlimited resources and privileges. How do you like them apples?
It might be even more outrageous than that, as some post their accounts liquidation notice on social media with suspiciously low prices, conveniently at the low of the day.
Do I feel sorry for the financial firms? No. I think the guy the bought the “most expensive home” in the US at $238M will likely be fine.
Everyone is out there for themselves, ethics is just a hindrance.
I would also add: Regardless if you are right or wrong in any investment, as soon as you made money, bought your Yacht and hang out with Instagram models: at the end of the day, what is the difference? The whole financial media, social media and traditional media complex doesn’t seem to recognize a difference.
