Not sure if anybody pays attention to the stock market or what is going on with some of the stocks right now...basically a war between the little investor and the institutional big guys. However what is going on with several stocks is very interesting. And you can tell who the institutions protect as they halt trading so those in short positions don't lose billions on calls. Working poor and middle class are tired of the rich having everything and all of the protection and watching them get richer while others continue to fall further behind.
This is written towards the Pubs, but I argue both the Pubs and Dems need to be wary...people are tired of the rich "who both parties protect and covet thier money" getting all the breaks in life . If the Dems and Pubs don't get thier priority straight it might be a scary next several years for them.
www.cnbc.com
But he uses a different touchstone: Occupy Wall Street, the left-leaning anti-establishment movement that blossomed in the wake of the 2008 financial crisis.
“This is Occupy Wall Street Part 2, but this time it is on their turf, and there are real financial consequences,” he said. LeGate, who received a $100,000 Thiel fellowship to drop out of college and start a company when he was 18 years old in 2013, has been watching the WallStreetBets Reddit discussion for several years.
He said he is seeing increasing frustration and anger, which is exploding in the Covid pandemic era – and it is bringing together the traditional political left and right.
“People were willing to take a risk on Trump and now they’re willing to take a risk in the markets,” he said. “A lot of people just want to see the world burn right now, and they’re enjoying watching it happen.”
“There’s a feeling I sense across society that people want to go back to a simpler time,” LeGate said. “No one likes Covid. People don’t feel the economy is fair. Everything looks better in hindsight.”
And he argues that efforts to regulate trading will feel to Reddit traders more like suppression, and could fuel more anger.
“If someone on Main Street loses half their portfolio in a day, nothing’s going to happen. But if a hedge fund does, they literally stop the trading,” he said. “I myself question whether this is really about protecting the individual investor or protecting the hedge fund.”
His warning to Wall Street is: understand this. Be willing to scrutinize yourself. This not going away, and it is probably bigger than you think.
“People need to take the time to understand the social dynamics of this. What are the problems that have created this class of retail investor who seek to completely destroy your industry, and how do you remedy that?” Holmes said.
GameStop’s explosive rally is ‘democratization at its finest’: Boston Private Wealth
Holmes said he has spent the past decade watching American politics turned inside out. An earlier generation of politicians spent their time raising money at country club ballrooms from hundreds of donors writing $500 or $1,000 checks.
But now they spend their time on the internet raising money from millions of donors making $5 and $20 contributions. In politics, the retail money turned out to be bigger – much bigger -- than the institutional money. And that’s driven massive political spending inflation: the big Senate campaigns that once cost $15 million now cost $100 million.
“The pool is unlimited,” Holmes said. “And that’s the problem. The volume of potential participants is a hell of a lot bigger than people think it is, and it is certainly a lot bigger than the number of people who participated in this.”
Other establishment Republican veterans agree.
This is written towards the Pubs, but I argue both the Pubs and Dems need to be wary...people are tired of the rich "who both parties protect and covet thier money" getting all the breaks in life . If the Dems and Pubs don't get thier priority straight it might be a scary next several years for them.
Republicans in Washington warn Wall Street: The GameStop populists are more powerful than you think
There are scores of similarities between Trump's "Make America Great Again" movement and the GameStop uprising.
But he uses a different touchstone: Occupy Wall Street, the left-leaning anti-establishment movement that blossomed in the wake of the 2008 financial crisis.
“This is Occupy Wall Street Part 2, but this time it is on their turf, and there are real financial consequences,” he said. LeGate, who received a $100,000 Thiel fellowship to drop out of college and start a company when he was 18 years old in 2013, has been watching the WallStreetBets Reddit discussion for several years.
He said he is seeing increasing frustration and anger, which is exploding in the Covid pandemic era – and it is bringing together the traditional political left and right.
“People were willing to take a risk on Trump and now they’re willing to take a risk in the markets,” he said. “A lot of people just want to see the world burn right now, and they’re enjoying watching it happen.”
“There’s a feeling I sense across society that people want to go back to a simpler time,” LeGate said. “No one likes Covid. People don’t feel the economy is fair. Everything looks better in hindsight.”
And he argues that efforts to regulate trading will feel to Reddit traders more like suppression, and could fuel more anger.
“If someone on Main Street loses half their portfolio in a day, nothing’s going to happen. But if a hedge fund does, they literally stop the trading,” he said. “I myself question whether this is really about protecting the individual investor or protecting the hedge fund.”
His warning to Wall Street is: understand this. Be willing to scrutinize yourself. This not going away, and it is probably bigger than you think.
“People need to take the time to understand the social dynamics of this. What are the problems that have created this class of retail investor who seek to completely destroy your industry, and how do you remedy that?” Holmes said.
GameStop’s explosive rally is ‘democratization at its finest’: Boston Private Wealth
Holmes said he has spent the past decade watching American politics turned inside out. An earlier generation of politicians spent their time raising money at country club ballrooms from hundreds of donors writing $500 or $1,000 checks.
But now they spend their time on the internet raising money from millions of donors making $5 and $20 contributions. In politics, the retail money turned out to be bigger – much bigger -- than the institutional money. And that’s driven massive political spending inflation: the big Senate campaigns that once cost $15 million now cost $100 million.
“The pool is unlimited,” Holmes said. “And that’s the problem. The volume of potential participants is a hell of a lot bigger than people think it is, and it is certainly a lot bigger than the number of people who participated in this.”
Other establishment Republican veterans agree.
