dagblog - Comments for "Robinhood CEO: Becoming an investor is the new American dream, "

more Portnoy:

artappraiser — Tue, 02 Feb 2021 08:01:22 +0000

more Portnoy:

Went on with @ChrisCuomo to talk Stocks pic.twitter.com/6JNlyrPVSx
— Dave Portnoy (@stoolpresidente) February 2, 2021

Well AirBnB did pretty good

PeraclesPlease — Tue, 02 Feb 2021 00:51:57 +0000

In reply to Just noticed on Robinhood's

Well AirBnB did pretty good under the radar, but if it's a Clash of Civilizations pump-and-dump, may work well for them. But it's still pretty much the same game - take off protections in some form of market liberalization/deregulation, and spread a few of the bennies around to keep the rubes just happy enough while the leaders cash in. Always looks more equitable at the beginning of the pyramid scheme when not so many levels. But someone's gotta pay for the grift.

keep forgetting to mention

artappraiser — Tue, 02 Feb 2021 00:21:39 +0000

In reply to Robinhood CEO: Becoming an investor is the new American dream,

keep forgetting to mention what I think is an important point, that much of the "Yang Gang" demographic would probably be on board with the revolution:

GameStop has changed the game forever.
— Andrew Yang (@AndrewYang) January 29, 2021

The truth is we all want to be GameStop.
— Andrew Yang (@AndrewYang) January 29, 2021

though it should also be pointed out that as he's running for mayor of NYC, he's also got to worry now about keeping the old school finance people from getting too angry...

Just noticed on Robinhood's

artappraiser — Mon, 01 Feb 2021 23:22:07 +0000

In reply to More on this:

Just noticed on Robinhood's twitter account, they have the marketing tagline Democratizing finance for all. Strikes me as quite a bit bolder promise than Uber or even Airbnb and enough bought in to really become free salespeople.And again, look at his marketing at the top of the page. And then throw in those swing voting immigrant types from the last election who don't much cotton to the socialism word, what they came here for was capitalism...and he's one of them, Isn't he?

taking us back to the

artappraiser — Mon, 01 Feb 2021 21:22:14 +0000

In reply to Robinhood CEO: Becoming an investor is the new American dream,

taking us back to the headline on this thread:

“I’m 29 years old. I have this extra $29,000. If I lose it all, whatever. I can make it all back. Let’s just go all in on Nokia.”https://t.co/EvxB6VB11C
— Lisa Fleisher (@lisafleisher) February 1, 2021

This is the line/queue right

artappraiser — Mon, 01 Feb 2021 20:18:27 +0000

In reply to Robinhood CEO: Becoming an investor is the new American dream,

This is the line/queue right now outside the Vancouver Bullion Exchange in British Columbia, Canada pic.twitter.com/aAyFDINc7Q
— TimJones (@TJ_EW) February 1, 2021

Silver eagles on Ebay are around $50 now. #silversqueeze
— Todd Fine #silversqueeze (@tfine) February 1, 2021

More on this:

PeraclesPlease — Mon, 01 Feb 2021 13:15:22 +0000

In reply to Noah Smith substack (no

Noah Smith substack (no

artappraiser — Mon, 01 Feb 2021 08:34:43 +0000

In reply to Robinhood CEO: Becoming an investor is the new American dream,

Noah Smith substack piece, no paywall that I can see:

Is the fact that populists are latching onto the GameStop phenomenon a sign that our Age of Unrest has peaked?https://t.co/YgUFaFkFvH
— Noah Smith (@Noahpinion) February 1, 2021

Nate Silver supportive:

artappraiser — Mon, 01 Feb 2021 08:26:02 +0000

In reply to Robinhood CEO: Becoming an investor is the new American dream,

Nate Silver supportive:

Hell yeah. https://t.co/HUaxds6VaJ
— Nate Silver (@NateSilver538) January 31, 2021

Bloomberg Updated on February

artappraiser — Mon, 01 Feb 2021 07:26:33 +0000

In reply to 7 hrs. ago:

Bloomberg Updated on February 1, 2021, 2:15 AM EST Silver Spikes as Retail Investors Swarm Their Biggest Target Yet

Rally follows jump in demand over weekend for bars and coins

The momentum rests with smaller investors right now, OCBC says

Silver took center stage in the retail investor frenzy sweeping through markets, sending the metal to a five-month high and fueling a debate over the power of Reddit-inspired speculators to take on ever-bigger targets.

Most-active futures jumped as much as 9.5% to $29.47 an ounce on the Comex, after a weekend buying binge that overwhelmed online sellers of silver coins and bars from the U.S. to Australia. BlackRock Inc.’s iShares Silver Trust, the largest exchange-traded product tracking the metal, recorded an unprecedented $944 million net inflow on Friday.

Like the buying stampede in GameStop Corp. and other small-cap stocks that has captivated the financial world in recent weeks, silver’s advance can be traced to Reddit’s WallStreetBets forum. One post last week declared the metal “THE BIGGEST SHORT IN THE WORLD” and encouraged traders to pile into the iShares trust as a way to stick it to big banks.

Yet silver differs in important ways from stocks like GameStop. For one, the scope for a short squeeze in silver is far less obvious: money managers have had a net-long position on the metal since mid-2019, futures and options data from the Commodity Futures Trading Commission show.

The market for silver is also by some measures much deeper than those for smaller stocks like GameStop. The bricks-and-mortar video game retailer had a market capitalization of about $1.4 billion in mid-January, before the Reddit frenzy sent the company’s value soaring more than 16-fold. By contrast, the value of silver sitting in vaults in London is alone worth about $48 billion.

Why Reddit traders will learn commodities aren’t stocks: Macro View

What’s more, it’s unclear how long retail investors will stick to the silver trade. Already some prominent members of the WallStreetBets forum have advised against it, with some noting that Ken Griffin’s Citadel Advisors LLC, a favorite bogeyman of the Reddit crowd, is listed as one of the biggest shareholders of the iShares silver trust.

Whether or not the rally fizzles, it could have ramifications beyond what has typically been a relatively niche corner of the commodities world [....]