Comments by "" (@hewitc) on "Wall Street Hedge Fund Managers FREAK OUT After Reddit Users Increase GameStop Stock Price" video.

  1. There are hedge funds on the long side that are making big profits on this.
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  2. Those "peasants" included other hedge funds. Some of Wall Street made a fortune on this. But most of it is "paper" profits and losses until you sell or cover. The Redditors urging "hold the line" or "diamond hands" are in fact sellers who want to cash in and need new suckers to take their shares.
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  3. As a long term investor I would not buy something that can disappear overnight because the original coders changed it. There is nothing to stop them from increasing supply or simply deleting everything. You don't even know who they are. You have a vague promise that the number of Bitcoin will be limited. Nothing enforces that-- it's just words.
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  4. 90% of these comments are from "touts" who own Bitcoin and are trying to push up the price. Caveat Emptor
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  5. John Paulsen netted $20B because he was short housing/mortgage securities before the 2008 crash. He didn't go to prison. He didn't cause the bubble to burst. People were too leveraged on their homes betting that real estate would "hit the moon". The moon is very far away.
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  6. There is nothing new about squeezing short sellers. Bill Ackman got squeezed on HerbaLife years back-- by other hedge funds. There are plenty of "Wall Streeters" on the long side of the GameStop play, it's not just "the little guy". The shorts have deep pockets and only need to meet the margin requirements, so they can hold for quite some time and eventually the company will be in Chapter 7. Not because of the shorts. Because even the Reddit traders don't get their games at GameStop. The story has been exaggerated. Wall Street and the hedge funds thrive on this. They are doing just fine.
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