Maybe he needed support from his parents February 09, 2021 | Registered: 10 years ago Posts: 2,062 |
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Re: Maybe he needed support from his parents February 09, 2021 | Registered: 15 years ago Posts: 3,842 |
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Re: Maybe he needed support from his parents February 10, 2021 | Registered: 9 years ago Posts: 3,712 |
Quote
bell_flower
Selling short is a financial practice akin to gambling and that is what this kid was doing. Even seasoned professionals lose their shirts on these practices. It's dangerous and risky and he got burned.
The parents are doing what most people do--find the deep pockets to pay for someone's stupidity.
As an aside, the recent Gamestop gaming was nothing that hedge fund managers are not doing on a regular basis. Shame on the SEC for stepping in and (temporarily) stopping RobinHood from being able to trade. If short selling is a permitted practice, the Government needs to sta out of it. The ideal solution would be to eliminate 10% down for short selling-- if someone wants to risk money, make them pay the full amount up front. But Congress will never agree to do this because large hedge fund managers have Congress in their pocket, thanks to lobbyists and donations. AOC and Mitch McConnel are in agreement against any kind of regulation and when both parties are together like that--you know what that means: SCREW YOU to the little investor or consumer.
Re: Maybe he needed support from his parents February 11, 2021 | Registered: 3 years ago Posts: 201 |