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Comment by paulpauper | Hacker News Reader

So what was the point of all those hearings and SEC investigations in 2021 if nothing changed? I don't get it. All just Kabuki theater at taxpayer expense.

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Considering that the majority of the interviewees lied under oath, I would suspect the "investigations" were meant primarily to convince average retail apes that institutional investors had been bad, but wouldn't be bad again — WE PROMISE.

Disclosure: I own a small amount of GME. Meows and moons.

Is there a calendar date at which you will concede to the claim that the base idea is simply false?

I will accept "the base idea is simply false" when Gamestop files for corporation-ending bankruptcy.

To date, I am net-positive on this investment.

How much of that net-positivity is a result of a 110% jump because a man posted a meme of a guy leaning forward?

Not all of it =D

You know he posted that after days of double digit gains and and excessive call volume, right?

I'm still "up" — almost always have been.

>>Time in the market beats (attempts at) timing the market.

It's been a few years, and will be a few more.

Will you accept bankruptcy declared by the company, or do all DRS-registered shares need to turn in paper ballots?

Whatever a US Court would accept, but if it's your latter proposal you can pry mine from my cold dead fingers.

Did you literally DRS your shares?

On a risk adjusted basis?

What is your exit thesis for this trade and what will the return and timeframe be if that thesis is met?

Do you have a deadline or price level for closing the trade if your thesis is not met?

What’s the base idea in your mind? Shorting more than 100% of a share’s float seems to put hedge funds at extreme risk of a squeeze, no?

What did they lie about under oath? From what I recall the whole saga was pretty much reddit gamblers blowing through a bunch of liquidity of the major brokers, and triggering a bunch of big margin calls. There were no naked shorts or whatever other conspiracy theory reddit was spinning up, this is the kind of thing the SEC actually gets very angry about regardless of who's on the other side of the trade.

The point of the investigations was to determine if any rules were broken, and potentially to propose new rules if something bad happened that didn't break the rules.

It turned out no rules were broken, and while things got weird for a short time, ultimately the underlying cause was a confluence of self-delusion and a couple traders being in truly irresponsible positions (and paying for it). No further action was deemed necessary.

> All just Kabuki theater at taxpayer expense.

America in 2024 is this, but for everything.

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