https://theprovince.com/news/viral-video-prince-george-rcmp-seek-driver-who-pulled-off-dangerous-aerial-stunt-at-high-school/wcm/03060374-b296-420f-b605-4434e8409f5c?utm_medium=Social&utm_source=Facebook&fbclid=IwAR1S3Larw5uWQzc5EmFZOYKcryYVJfNcEApipNOg69mO_XOMWpApTFYCNmA#Echobox=1611778409

On a lighter note some good Canadian kids jumped an old sedan off a snowbank and landed on a snow-covered field.

This post was edited by Killingyouall on Jan 27 2021 08:39pm

actually... although the majority of WSB are idiots, there ARE guys that know exactly what they're doing - someone already mentioned this but, short squeezing these hedge fund that got greedy and overextended on their shorts

these guys initially recognized that gamestop was purposely being driven down towards bankruptcy by these hedge funds and their inherent value was higher, so long term they were going to make 2-3 times their initial investments. However it really took off when ryan cohen joined the board which resulted in a share price appreciation which triggered a significant loss to these funds, exposing their weakness

now those same guys are trying to deal maximize damage on these hedge funds because at this point, assuming the public (retail) investors don't let up, someone is going to get stuck paying a potential infinite amount of money to cover their short position

citron and melvin is just the beginning because there were a lot more short interests initially now the question is, do people just sell and try and cash in on their gains, weakening the push, do people panic sell because these funds are tapping every single connection they have to try and scare people off this war, do the hedge funds literally surrender and all cover like citron and melvin did, or the funds get the government to step in and bail them out just like 2008

now the collateral is a lot of money that could've been invested in other things are being redirected towards this GME debacle but it's only short term and once one side gives, the market will return pretty quickly to where it was before, hopefully hedge funds exit all their wrongfully stacked short positions in other companies

michael burry the guy who infamously made the CDO bet against the big banks during the financial crisis, was invested in gamestop because of this, and you cant say he has no idea what he was doing - he didn't expect things to turn out the way they did but the guys definitely knew what they were doing - WALL STREET GUYS ARE GREEDY it happened in 08 it's happening now again

This post was edited by badasses on Jan 27 2021 09:36pm

Thanks for the detailed explanation. You tied everything together in regards to what is going on with GME and I have learned something.

I did not get involved in this runup due to a lack of knowledge on what is taking place. If I don't have a strong understanding of what it is I am investing in I won't get involved. That does not seem to stop many investors though.


What bothers me is I am certain the vast majority of retail investors would fail to come close to showing the level of understanding you have.

There are hoards of investors who are just blindly throwing money at something they have little understanding of with an unwavering confidence.

You see posts asking "what should I invest in". I want to double my money in a year. Others spout out 'advice' that is likely also ill informed and I just don't see it ending well.

It is a recipe for disaster and opens the door for government regulation to protect consumers from themselves. Those who do invest responsibly may have to deal with adverse reactions as a result.

This post was edited by Killingyouall on Jan 27 2021 09:59pm

I wouldn't say GME was artificially devalued just by bearish institutions. companies reliant on brick-and-mortar video games sales were generally struggling against retail giants and online storefronts, specially during COVID. Gamespot had already appreciated several times from rock bottom with Cohen increasing his participation in the company then getting into the board (spurred by the direction to shift Gamespot towards online-based businesss). still, the company hadn't gone past the $30 mark for many years and had peaked around $70 prior to the 2008-09 crisis. so the $20 bet made by Melvin wasn't particularly off base, maybe too much committed to that bet. right now the business is hardly any different so as you said, it will come back down eventually. even Burry himself publicly said he's cashed out his position, and he obviously made mad money. he entered based on GME at the time being undervalued and having a new CEO substantially changing the direction of the company, and he had already made several times his return on investment pre-pump. his entry wasn't based off what r/WSB is trying to accomplish.

but the problem is that even if everyone who's short pre-pump covered their positions it would be impossible for most people in right now to cover their own long positions because liquidity is ridiculously tipped towards buying. short sellers are $5 billion deep in losses right now, and yet the current market cap for GME is $23 billion. so at this point they're relying on other pumpers to buy in which is why everyone in the internet is spamming "buy GME" - because that's the only way to actually cash out. the L-word will be burned in the mind of those who think a stock can just pumped be forever at the expense of bears. "why no one had done this despite the market booming for the past decade?", the philosophical question they never asked themselves.

good for those who identified the squeeze early and well done by retailers who can retire off this play. but most of them will get metaphorically raped. and the "little guy vs wall street" narrative is kinda silly considering any institution who makes plays off patterns/swings would have repeatedly cashed in/out of GME, and of course a select few billionaires already owned a large chunk of Gamespot stock.

This post was edited by Hizkuntza on Jan 27 2021 10:36pm

I have what wallstreetbets would call a "boomer portfolio", i'm super conservative, and i even have self-imposed rule that's really limiting where I just don't buy us stocks so i don't have gamestop, or even blackberry (thought about it at $6, but i ultimately didnt pull the trigger)

I don't know the fine details like the actual pros do, just the overview of the situation because people at work kept talking about it but don't really know what was happening so I dug into it

Something similar happened with oil futures last year in spring when I bought into HOU with everyone else because everyone thought "hey, oil can't go any lower can it?" until it went negative and that fund technically should've became $0.

People didn't know what they were buying, I didn't know what I was buying, so when i lost like $6k on it I was like OK i really need to figure out what the fuck is going on, wtf is futures lol and when I found out I was like holy shit, this is too much for me, i'm out

to hizkuntza, that's exactly what i said, when michael and the initial wsb guys went in, they only saw it being shorted a little too far, and they stood to make double or triple their money, but they also noticed the short squeeze position, that's why they sold at way higher valuation of what they initially planned to do, they've already made MUCH more than they set out to do

now past it, like you said, is pure gambling, because you're hoping to keep the money train going and at this point like i said, one of those scenarios i pointed out (maybe i missed some), will happen and you're just gambling that you're on the right side of the equation but it's a high-risk high-reward game for the retail investor now

nobody (at least i hope nobody) realistically believes gamestop is actually worth more than a mere fraction of where it's at now, but they're not betting on the long-term book value of the stock but trying to force these hedge funds to get margin called which essentially means the broker forces them to sell assets in other holdings to cover for their short position

I also have a 'boomer portfolio' haha.

I do invest in American stocks but I admit I am heavily weighted in the Canadian market even though it is only ~4% of the overall market cap.

It is hard to pass up on investing in something you are naturally going to have more knowledge about of the bat and comes with no currency conversion considerations.

Furthermore the tax benefits make it an even bigger draw.


My losses came with Aurora Cannabis. Unless something drastic happens I am going to take a 2k loss. I bought when the shares were about $10 (before the 12/1 stock split). At this point it is just going to be a tax loss harvest when I have a strong year.

this stock was bought more so with emotion and a belief in an up and comer that had a fancy office in the heart of downtown Vancouver.

Looking back at it now I can't believe how dumb I was.

The warning signs were obvious. Mounting debt, negative earnings, acquisition binges and a supply glut in a crowded market fraught with government regulation.


After that lesson I took the time to actually understand the fundamentals behind what makes a strong, long term purchase. Through a mix of primarily ETF'S and proven blue chips I am doing much better.

It is boring, but I am getting the results I want with very little stress. So I am happy.

This post was edited by Killingyouall on Jan 27 2021 11:19pm

I wouldn't even call it high-reward gamble for most right now since even if everyone deep in shorted shit got margin called it's only a fraction of the current market cap. there'd be only a bit more room to go up and then suddenly there'd be no one left to cash you out.


my own personal mix right now is funds for Canadian small/mid cap fund, US earnings-growth and global tech. I don't bother with individual bets anymore, not really because I have a burn scenario but more like missed opportunities. Find it a lot less stressful to monitor portfolios.

This post was edited by Hizkuntza on Jan 27 2021 11:27pm

You're like my brother, he just buys funds constantly on a monthly basis and that just takes the stress out. He's a financial advisor so he is big in diversification and dollar cost averaging.

Investing is a hobby for me so I actually enjoy the researching aspect. I must admit I like the challenge of seeing if I can beat the index fund in my TFSA haha

I have RRSP and resp that's in funds so I am not just pure stocks.

I missed Shopify, when it dropped to 450 last year I put in an order for 480 but by that time it already went past 500 and never looked back lol

Also had lightspeed for 20 bucks and sold it for 22 because people were complaining about how customer service sucks and their service isn't that good, FML lol

This post was edited by badasses on Jan 28 2021 12:29am

tfw American citizen so no TFSA for me

shit's a curse I swear.

I thought the states have something similar or that's just the 401k but hey at least you guys have one time 20 years mortgages and the mortgage is tax deductible unlike here