Comments on: GameStop and the hedge funds, continued https://thenewneo.com/2021/01/29/gamestop-and-the-hedge-funds-continued/ A blog about political change, among other things Mon, 01 Feb 2021 17:51:10 +0000 hourly 1 https://wordpress.org/?v=7.0 By: GameStop, all day, and all of the night – Tom Grey – Families, Freedom, Responsibility https://thenewneo.com/2021/01/29/gamestop-and-the-hedge-funds-continued/#comment-2537900 Mon, 01 Feb 2021 17:51:10 +0000 https://www.thenewneo.com/?p=103776#comment-2537900 […] Neo links to Glenn Greenwald (a Leftist) who makes some good points about hedge funds and GameSpot about the price going up so fast – and how other hedge funds might be involved. […]

]]> By: om https://thenewneo.com/2021/01/29/gamestop-and-the-hedge-funds-continued/#comment-2537865 Sun, 31 Jan 2021 23:47:57 +0000 https://www.thenewneo.com/?p=103776#comment-2537865 Tommy Jay, it wasn’t you, didn’t mean to implicate you in fantasies.

]]> By: TommyJay https://thenewneo.com/2021/01/29/gamestop-and-the-hedge-funds-continued/#comment-2537863 Sun, 31 Jan 2021 23:40:07 +0000 https://www.thenewneo.com/?p=103776#comment-2537863 I didn’t say anything about silver or bitcoin, though silver is fine substitute for gold ignoring the fact that the physical item is much heavier per dollar than gold.

Here is a true story about a guy who started hording gold in 1960 or shortly thereafter and died in 2012 with $200 in his bank account and $7M in gold tucked away in his house. He’s my hero, aside from the minor detail that he was moderately off his rocker, and apparently enjoyed little or none of his wealth. I wonder what the net appreciation of his gold holdings were in dollar terms.

]]> By: om https://thenewneo.com/2021/01/29/gamestop-and-the-hedge-funds-continued/#comment-2537858 Sun, 31 Jan 2021 21:40:48 +0000 https://www.thenewneo.com/?p=103776#comment-2537858 Good luck with that, buying beans and rice, Buckwheat.

]]> By: ymarsakar https://thenewneo.com/2021/01/29/gamestop-and-the-hedge-funds-continued/#comment-2537857 Sun, 31 Jan 2021 21:33:34 +0000 https://www.thenewneo.com/?p=103776#comment-2537857 Bitcoin is the sci equivalent of credits.

Ds 9 s latinum gold pressed

]]> By: om https://thenewneo.com/2021/01/29/gamestop-and-the-hedge-funds-continued/#comment-2537856 Sun, 31 Jan 2021 21:09:44 +0000 https://www.thenewneo.com/?p=103776#comment-2537856 huxley:

I was thinking of a similar outcome that befell a big time drug dealer whose bitcoin thumb drive got sent away in the wheelie bin while he was in the slammer. That unfortunate sod was in the UK IIRC. Great minds think alike?

]]> By: huxley https://thenewneo.com/2021/01/29/gamestop-and-the-hedge-funds-continued/#comment-2537855 Sun, 31 Jan 2021 20:51:39 +0000 https://www.thenewneo.com/?p=103776#comment-2537855 om:

A cautionary story I read recently about a guy who got early into Bitcoin. Except …
______________________________________________

A San Francisco man who lost the password to a thumb drive with $220 million worth of bitcoin inside says he has “made peace” with the loss.

Stefan Thomas has used 8 of the 10 attempts allowed by a secure thumb drive to reach his 7,002 digital tokens — which are now worth nearly $40,000 apiece and have been minting millionaires left and right — and is no closer to reaching his funds.

https://nypost.com/2021/01/15/man-who-lost-password-to-220m-worth-of-bitcoin-says-hes-made-peace/
______________________________________________

However, he has substantial Bitcoin stored elsewhere — i.e. not on that thumb drive — so he’s still wealthy.

Apparently, it’s a common problem. It’s estimated that 20% of the world’s Bitcoins are lost to their owners:

https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html

]]> By: om https://thenewneo.com/2021/01/29/gamestop-and-the-hedge-funds-continued/#comment-2537849 Sun, 31 Jan 2021 20:26:50 +0000 https://www.thenewneo.com/?p=103776#comment-2537849 Speaking of “cans of worms” to refer to gold, silver, and cryptocurrency (bitcoin) as
similar assets is somewhat fantastic: one of those “things” is not like the others. Best consult my astrology. 🙂

]]> By: huxley https://thenewneo.com/2021/01/29/gamestop-and-the-hedge-funds-continued/#comment-2537845 Sun, 31 Jan 2021 20:00:18 +0000 https://www.thenewneo.com/?p=103776#comment-2537845 Inflation is a can of worms as a topic. huxley’s prof. makes me want to bury some physical gold somewhere.

TommyJay:

Say more. I’m not wedded to my “prof.” I started as a Benjamin “The Intelligent Investor” (1949) Graham guy.

]]> By: TommyJay https://thenewneo.com/2021/01/29/gamestop-and-the-hedge-funds-continued/#comment-2537844 Sun, 31 Jan 2021 19:06:33 +0000 https://www.thenewneo.com/?p=103776#comment-2537844 Inflation is a can of worms as a topic. huxley’s prof. makes me want to bury some physical gold somewhere. Did I ever mention that I carry 50 trillion dollars in my wallet? That is, a single bank note representing what used to be 50 trillion Zimbabwe dollars.

For those with too much time, I can recommend reading “Fiat Money Inflation in France,” by Prof. Andrew White of Cornell, written in 1912.
______

Amazing factoid: Last Monday’s trading volume in GME was bigger than any single S&P500 stock.

]]>