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The Internet Is Mocking The ‘Poor’ Millionaires That Are Losing Money In Their Hedge Funds By Telling Them To Just ‘Work Harder’ (52 Pics)
Call it a Reddit Rebellion or Occupy Wall Street: Reddit Edition, but what we’re now witnessing in the stock market is rather, let's put it this way, “unprecedented.” A small group of Reddit traders from r/WallStreetBets sent GameStop shares soaring, causing billions in losses to billionaire Wall Street investors.
At this point, the GameStop turmoil has far exceeded the walls of the online forum and got the White House monitoring the situation. Meanwhile, amid outcry over limiting GameStop trades, the brokerage app Robinhood is about to reopen “limited buys” again this Friday.
And just a day ago, a Reddit trader penned this viral open letter explaining the real motives behind the group’s resentment for the Wall Street giants. Turns out, they’re not backing down. Did someone say something about 2021 being "boring?"
But the GameStop frenzy has not only shed light on the imbalance of power we see in this world, but has also sparked some of the funniest jokes, memes, and puns on the way. Because in the end, no matter who wins the mad stock fury, the small people of Reddit, or the rich and powerful guys, at least we got something to add to our beloved comedy department.
This post may include affiliate links.
#1
Sid Werner 4 years ago
The United States is a corporatist government. The actual laws on the books absolutely ARE corporatist by definition.
David Retsler 4 years ago
Because the regulators and lawmakers are bought and paid for by the banks and brokerages. The USA has the best government big money can buy.
Suzanne Haigh 4 years ago
This will never change, money people are in control of every country in the world, only when they are happy will the lower levels pf society be allowed to invest and expand, until the big people realise and crush things again.
Mewton’s Third Paw 4 years ago
Anyone here make money off of this? I have been following wallstreetbets and saw my returns up like 200%+ overnight.
Marlowe Fitzpatrik 4 years ago
Nice! Did you sell? Or are you holding? (I'm too broke and too clueless to even start with the stocks. )
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#2
Dre Mosley 4 years ago
The common man is just playing the same game they've played for years. Wall Street doesn't like that the common man is beating them at it.
David Retsler 4 years ago
People hate it when the rules are changed in the game they have had complete, 100% control over since its inception. Now the poor little millionaires can no longer ignore the plebians. At least until they pay their CONgressmen to pass laws to prevent this from happening again.
bianca johnson 4 years ago
never noticed the con in congressmen, now I can't unsee it. 😳Thank you
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#3
Mewton’s Third Paw 4 years ago
I downvoted yours and upvoted anyone who makes sense. Shïtty comments are still better than the people who come to comments to whine about votes. Get a grip.
Load More Replies...Previously, Bored Panda reached out to a banking expert and independent investor who preferred to stay anonymous to find out more about the current frenzy in the stock market.
The investor said that sharks in Wall Street hedge funds smelled blood and tried shorting (betting against) GameStop’s stock. What happened is that they “underestimated the sheer volume of small individual investors who have easy access to markets thanks to apps like Robinhood, eToro, etc. and can share their intentions via social networks.”
Most importantly, this unprecedented case of the success of online forum-bred traders indicates that “the age of individual investor (as opposed to institutional) is not over just yet."
#4
Earl Grey 4 years ago
You left off a zero on that mansion square footage.
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Zophra 4 years ago (edited)
401Ks are not involved in short stock I think. They are usually in mutual funds with established companies. Does someone know for certain?
Load More Replies... Zophra 4 years ago
"regular people" have to have the money and be able to lose it if the market takes a turn. Not as easy as you think to have this disposable cash available for investment.
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David Retsler 4 years ago
Except the people making money from it own the people who make the rules to control it. CONgress will pass a few laws to appease their corporate masters in no time. Probably before the next round of COVID payments get approved.
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starhunter64 4 years ago
i watch as the fire burns that wich once prospered my hot coco in one hand popcorn in another snugled in my snuggie snickering in sass
#6
David Retsler 4 years ago
Never in my almost 40 years either. And I like it. I don't have a dog in this fight but I am cheering for the Reddit side. F**k the banks and brokers. They f****d us enough and now it's their turn.
Mewton’s Third Paw 4 years ago
I’ve been heavily trading since we all got stuck at home with the pandemic. Heavily. I took almost all of my money out of the bank. Makes no sense. Even if you only have a tiny amount of money, it earns more in the market even if you play the safe stocks. Fûck banks.
Even though nobody can be sure about the future of GameStop at this point, the independent investor believes that it depends on how well they manage “this tsunami of electronic entertainment."
What may happen is that “an influx of funds might allow GameStop to reinvent their business model and concentrate almost purely on digital sales and remote deliveries.” They may also leave “a few brick-and-mortar places for that authentic old-school experience.”
But right now, get your popcorn, kiddos. The stock entertainment buzz is still airing and there’s no end on the horizon just yet.
#7
David Retsler 4 years ago
LOL! I'm a boomer but that "make coffee at home" crap really pissed me off. I'm glad to see it getting thrown back at the assholes.
Heather Menard 4 years ago
Have them work for 12 dollars an hour refuse government help. End up the street broke and no where to go
Mewton’s Third Paw 4 years ago
I’m a WallStreetBets member and I eat avocado toast like twice a week at least. With cilantro. People can say what they want, but what’s wrong with being a millennial who fits some stereotype? They make it like everything we do is wrong no matter what, so fûck it. Rub it in their faces. I made like $10k this week and I ate avocado toast and smoked weed while doing it. Sorry not sorry.
#8
Clowton 4 years ago
THAT is how you work from home. If they could do this via Reddit, your work meeting really could be an email.
Smitten Kitten 4 years ago
#occupy was a righteous class war and way too painful for the bankers. To take the heat off them they redirected the publics discontent to #blm and a race war so it doesn't interrupt their money making.
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Hayley Rodgers 4 years ago
Their EXTRA millions. Not even everything they have. Not even close
#10
Ian Koch 4 years ago
"you are poor please stop" for some reason I find that funny.
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#11
KatHat 4 years ago
"Retard" is a word best avoided. The targets of your anger will never see it but others will and it will be hurtful to them. Please choose something else.
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#12
Clowton 4 years ago (edited)
Usually privileged people will tell poor people to do basic things to save money. Cook at home rather than buying takeout, make coffee instead of buying Starbucks, etc. They also note that a person is poor but has an expensive phone. That last part is what the pic is referencing -- the CEO of a "broke" company is in a poor position but has an expensive phone.
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#13
Mewton’s Third Paw 4 years ago
You can sell it, you just can’t buy more. Which is fine I guess because it’s not like you’d be averaging down. You either got in by now or you didn’t.
Ian Koch 4 years ago
but this is stock. and I don't think gamestop could pull that BS off.
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Hayley Rodgers 4 years ago
$600 is what the US government gave citizens recently, claiming that $600 as a one-time payment months after the other one time payment, was somehow going to be enough if people just spent it wisely
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#15
Mewton’s Third Paw 4 years ago
You can literally bet on it. It’s a literal actual game, and you can even make side bets like in a casino.
Robert Miller 4 years ago
Yet taxed at a totally different(much lower) rate than Vegas or lotto winnings
#16
Jessica Shookhoff 4 years ago
Wait a second! Do you think this applies to more than reddit??? Like, in the actual world, half of us are... women?
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David Retsler 4 years ago
You're right. Investing is all about balancing fear and greed on the personal level while watching the fear and greed at the national level. If you keep your fear and greed under control. you'll do okay in the market.
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#17
#18
Slinkman 4 years ago (edited)
You're a rich dude that sells something you borrowed, because you thought you could buy it back later way cheaper and earn money off it. But many other people (with less money) buy a lot of the thing you sold, and now it's very expensive to get back. It wasn't yours so you're forced to buy it back for way more money. And now you, as a spoiled rich guy, lost a lot of money. You are not used to this, especially because the 'little' man is the cause of your loss... Now you're crying like a big baby because 'it's not fair'......
Mewton’s Third Paw 4 years ago
Hedge funds bet against a dying brand, but people on Reddit noticed it and thought the hedge funds were thinking too negatively about GME and so the Reddit people started to buy GME stock and made it go up. Hedge fund lose money because they lose bet.
QueenoftheSquids 4 years ago
Reminds me of that scene in psych where Shawn says 'now explain this to me like I'm 10 years old' and then a minute later '5 years old'
#19
Robert Miller 4 years ago
I guess they'll have to "pull themselves up by their own boot straps" ... (do Ferragamo loafers have straps?)
#20
Irina Ionascu 4 years ago
Why were people downvoting you lol, brilliant reference
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#21
WilvanderHeijden 4 years ago (edited)
As if the hedge fund managers now suddenly are the poor suffering people, they themselves always told people that they should stop being poor. And if they are, than here's some advice: "Stop being poor."
Dynein 4 years ago
I think that tweet is sarcasm, building onto the usual pleading of "I have a family to feed!". Generally intended to induce pity, but doesn't work that well when you insert a secret family, more specifically a second family with the mistress that's kept secret from the first "official" family.
Load More Replies... David Retsler 4 years ago
I'm just waiting for the "But think of all the gardeners, butlers, drivers, and house staff that will lose their jobs?? What about them?????" crap that's coming. LOL
Alexis draskinis 4 years ago
Already seeing it, even here. Seen way too many "but they're people too" comments. Yes, they are people too BUT they're also people who tell folks like us to get 2nd & 3rd jobs, stop buying "unnecessary things", & get better educations while simultaneously telling us we're lazy, killing unnecessary markets (like the diamond industry), & stop being dumb enough to go into debt to get a better education...
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Diana Murtaugh 4 years ago
Time to down size. Clean out the ol skeletons from their closets...etc
#22
#23
QueenoftheSquids 4 years ago
What Jedi is that in the profile pic or is it just the dude making the post but with a lightsaber
#24
Mewton’s Third Paw 4 years ago
You wouldn’t have been screwed. Everyone made lots of money on this. Besides, Robinhood isn’t the only one. Etrade and Webull are the same and capped buying just like Robinhood did, except Robinhood removed the restrictions first before anyone else started to. Now your only other option is to watch your money deplete in some equally unethical bank. Robinhood can stay.
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ƒιѕн 4 years ago
RH's days are numbered, don't worry. Users are leaving it in droves and transferring assets to other trading platforms.
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Mewton’s Third Paw 4 years ago
No worries. We know it’s rigged and we know how to play the game now. Your move!
fuggnuggins 4 years ago
Well, no. People already know how to cooperate. Just didn't before. Now that reddit is the centre of attention that'll get taken away one way or another. If people just cooperated in general it'd be great, but as long as it's limited to niches surviving within trendy communities then we'll remain in the same situation as always.
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Daniel (ShadowDrakken) 4 years ago
Yeah, no. Like everything else the rich do to screw this country over it'll be forgotten within a month.
#27
Scott Rowan 4 years ago
to modify a popular movie series tagline... "Buy or sell, make your choice."
#28
Eden 4 years ago
Are they aware of when to sell? Because when the price tanks your 1 share will take a backseat to the millions being unloaded by brokerages
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Julie Terrell 4 years ago
Sneakers! One of my most favorite movies of all time and seriously underrated! Especially considering the amazing cast! Honestly, I figured my kids and I were the only people in the world that had ever even seen it ( and they only saw it because I made them sit down and watch it with me!)
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#30
#31
#32
#33
Jaybird3939 4 years ago
Please tell me they still have their spats? How will they live without putting those one every morning? How will people know they used to be disgustingly rich?
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#36
Metric Jester 4 years ago
Sesame street, when grover was talking about what crunchy foods would be good for teeth, but just kept getting it wrong... Banana! bah!
Load More Replies... Random Person 4 years ago (edited)
Yeah really. If I were smart enough to keep up with the internet, I could have made thousands of dollars.
Load More Replies... #37
David Retsler 4 years ago
"GameStop is soaring because of me! You didn't see these numbers when Obama was president because he was a loser! Game Stop is a winner like me! You wouldn't see these great numbers under a Democrat! Game Stop pulled their stores out of blue run states because of fraud and lies! They are only in red states now who voted for me in the best election ever and are rewarded for it! Covfefe."
Juririn 4 years ago
Upvoted for the apotheotic last word🌋. Thank you :))))
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Anthony Goldstein (female) 4 years ago
"It's such a same to see all this manipulating of the stock market by the liberal agenda. SAD!"
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WilvanderHeijden 4 years ago
Bigly fraud from the Dems. Poop people on stockmarket is communism. That's what you get with Dems in charge. Socialism and poor rich people losing all their possessions. Not good, I'm bust!
Ruth Mayfly 4 years ago
He'd probably be all in on banning the poors to save the rich people who would give him a nice kickback.
M Kate McCulloch 4 years ago
who gives a flying f**k what trump would say - he's gone and good riddance to that f*****g cancer
#38
#39
Mewton’s Third Paw 4 years ago
Nobody’s doing that. People are selling what makes sense to sell.
#40
Teucer T 4 years ago
Your friend own a bicycle. You borrow the bicycle and sell it to someone for $100. Then you buy the bicycle back for $75 and return it to your friend... You've made $25 free money by "shorting" the bicycle... What happened with GameStop was that you sold the bicycle for $100, and then learned it was a limited edition signed by Shaq, LeBron, and Mike and is now worth $1000. You have to buy it back or your friend is going to kick your a**, so you fork over the $1000... You've lost $900 by "shorting" the bicycle.... Understand what happened now?
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#41
"Simo Häyhä" 4 years ago
Why the down votes?(If there is a reason and a sound like an idiot plz tell be in a response don't just down vote me)
#42
Ian Koch 4 years ago
Games T O N K... Games T A N K. there, I predicted that a tank would get involved in this. use your imagination to find out what happens with the tank.
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#45
Ian Koch 4 years ago
you know, sometimes you comment things I don't like, and other times you don't. how have you been doing random denizen of the internet?
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#46
David Retsler 4 years ago
Well, if you paid for a service as they paid for CONgress, wouldn't you want something out of it too?
Load More Replies... #47
Teucer T 4 years ago
Hou take your sister's iPhone from her room while she's asleep. You sell that iPhone to some dweeb down thw street for $500. Before your sister wakes up, the dweeb's parents find out and force him to sell it back. You offer to buy it $100, and he grudgingly accepts. You sneak the iPhone back into your sister's room and you walk away with $400.... That's called "shorting"... What happened with GameStop was that the "dweeb" you sold the phone to figured out it was your sister's phone and if you don't get it back to her room before she wakes up she's going to kill you. Grinning from ear to ear, he offers to sell it back for $1000. And, because you want to live, you paid it.
#49
Jamie S. Martindale 4 years ago
Confirmation bias leads to lots of people being overconfident in their ability to predict the future...
#50
#51
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Leo Domitrix 4 years ago
Quite frankly, if you have enough money to have it in a hedge fund, you can afford to lose some money waaaaay more than,s ay, the other 300 million Americans....
A.M. Pierre 4 years ago
Here’s the thing about hedge funds: they are *known* to be dangerous. It is *known* that they employ riskier practices. In fact, it is so well known that not just anyone is allowed to be in a hedge fund. By law, you have to prove that you have enough money/assets so that even if you lose every penny you invest in the hedge fund, it won’t ruin you. So I can understand how this would ruin the hedge funds themselves, but any investor in those funds who’s claiming it ruined them is either lying now or was lying when they first invested.
ƒιѕн 4 years ago
Heres the thing, Melvin is a piece of s**t for shorting GME, they deserve the loss of billions. If they can short we can squeeze. F them.
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LittleMissLotus 4 years ago
Honestly, what are they crying about? They're still rich, and they're probably going to make all of the money they lost back within a few years.
k1ddkanuck 4 years ago
Hedgefund bro crying and banging fists on table like a toddler: "But I'm not as rich as I COULD HAVE BEEN!! IT'S NOT FAIR!!! IT'S NOT FAIR IT'S NOT FAIR IT'S NOT FAIR!!!. I ALWAYS HAVE THE BEST TOYS BECAUSE DADDY SAYS SO! YOU'RE NOT MY DADDY!!!!! IT'S. NOT. FAAAAAAIIIIIIIIIIRRRRRRRRRR&^%$&^%#%$#^$#^&%!!!!!!" *Mommy wipes his nose while he catches his breath* "I'm taking my ball and going home!"
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Bacony Cakes 4 years ago
Listen: F*ck the crooks at Wall Street, f*ck people who survive off the failures of others, f*ck the 1%, and ESPECIALLY f*ck those who prey off the poor.
Plinkety 4 years ago
Thing is, (but first, Absolutely f**k Wall Street), a lot of other products depend on hedge funds. Pension funds, for example. It's not solely hitting rich guys, it's hitting the average guy who squirrels away a few bucks for his retirement, too. Now, pension funds will spread their investments across several instruments so, if one fails, it's not a catastrophe. But if several fail, grandpa loses his house. So, yes, absolutely do it now and again to give them a kick in the balls, which might actually lead to tighter regulation, but do it all the time and everyone will suffer.
Heather Menard 4 years ago
Today mind you I am 50. I actually know what a hedge fund is and how it works. Hooray for the working man for teaching me
Leo Domitrix 4 years ago
Quite frankly, if you have enough money to have it in a hedge fund, you can afford to lose some money waaaaay more than,s ay, the other 300 million Americans....
A.M. Pierre 4 years ago
Here’s the thing about hedge funds: they are *known* to be dangerous. It is *known* that they employ riskier practices. In fact, it is so well known that not just anyone is allowed to be in a hedge fund. By law, you have to prove that you have enough money/assets so that even if you lose every penny you invest in the hedge fund, it won’t ruin you. So I can understand how this would ruin the hedge funds themselves, but any investor in those funds who’s claiming it ruined them is either lying now or was lying when they first invested.
ƒιѕн 4 years ago
Heres the thing, Melvin is a piece of s**t for shorting GME, they deserve the loss of billions. If they can short we can squeeze. F them.
Load More Replies... LittleMissLotus 4 years ago
Honestly, what are they crying about? They're still rich, and they're probably going to make all of the money they lost back within a few years.
k1ddkanuck 4 years ago
Hedgefund bro crying and banging fists on table like a toddler: "But I'm not as rich as I COULD HAVE BEEN!! IT'S NOT FAIR!!! IT'S NOT FAIR IT'S NOT FAIR IT'S NOT FAIR!!!. I ALWAYS HAVE THE BEST TOYS BECAUSE DADDY SAYS SO! YOU'RE NOT MY DADDY!!!!! IT'S. NOT. FAAAAAAIIIIIIIIIIRRRRRRRRRR&^%$&^%#%$#^$#^&%!!!!!!" *Mommy wipes his nose while he catches his breath* "I'm taking my ball and going home!"
Load More Replies... Bacony Cakes 4 years ago
Listen: F*ck the crooks at Wall Street, f*ck people who survive off the failures of others, f*ck the 1%, and ESPECIALLY f*ck those who prey off the poor.
Plinkety 4 years ago
Thing is, (but first, Absolutely f**k Wall Street), a lot of other products depend on hedge funds. Pension funds, for example. It's not solely hitting rich guys, it's hitting the average guy who squirrels away a few bucks for his retirement, too. Now, pension funds will spread their investments across several instruments so, if one fails, it's not a catastrophe. But if several fail, grandpa loses his house. So, yes, absolutely do it now and again to give them a kick in the balls, which might actually lead to tighter regulation, but do it all the time and everyone will suffer.
Heather Menard 4 years ago
Today mind you I am 50. I actually know what a hedge fund is and how it works. Hooray for the working man for teaching me
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