LogFAQs > #950867699

CoolCly posted...

I think he's mostly right about everything. A lot of retail investors who jumped in never got out and their investments. maybe even most And most people just repeated the talking points that came up on WSB. To be honest, I was very uncomfortable even here on board 8 about it - there was so much mania by posters coming in here excited about buying GME at $200-300 and I don't think much was down to work against that narrative. I kinda feel bad for LOTM since he's one of the only people who pushed back and tried to convince people not to jump in and he got massively dragged for it. That was because he had no specific knowledge of the GME situation and was just arguing "hey dont bet on this mania you are probably just going to lose out since you won't know how to do this properly" which was really good advice tbh.

Everything that has come out since then from Brokerage CEOs and the due diligence at the time still says that it was the right play. What was happening on the Thursday that the brokerages shut down still says that it was the right play. Without the illegal actions of the clearing houses/brokerages, we get that squeeze.

What wasn't the right play was STILL holding after we rebounded on Friday. We should've known by then to get out while we could, and that the financial institutions weren't ever going to let us win. The money at the top all works for each other. They pay the politicians. The stock market is basically exactly how McConaughey describes it in Wolf of Wall St.

Basically I did fuck up by not selling on Friday when I had the chance, but it was a valuable lesson to me. And it has made me despise the government and our financial institutions even more than I thought possible which is also valuable because I know now how much smarter it is to be into crypto.

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