[pyrrhotech]

Damn, here I was thinking /u/DeepFuckingValue was winning by turning 53k into 13M, more than any of the jealous fucks here will make in their lifetime working their miserable engineering jobs and afraid to take any risks in life

https://www.reddit.com/user/DeepFuckingValue

[hendzen]

I'm happy that guy did well. But one guy taking a negative expected value bet and winning big doesn't really help all the other little guys on WSB who got roped in to buying GME at 100+ today or might even be ITM on their calls but will get crushed by insane spreads, theta decay due to halts and don't have the capital to exercise.

I'm not spiteful of KG and the other people who are making the real money off all the crowds at the option casino, if anything I respect their shrewdness - Citadel prints insane money on these option premiums, and as a bonus KG gets to invest in Melvin at firesale prices and probably gets to extract insane terms.

As far as 'jealous fucks working miserable engineering jobs' - I think you might be projecting a bit there :)

[DCF]

>But one guy taking a negative expected value bet and winning big doesn't really help all the other little guys on WSB who got roped in to buying GME at 100+ today

I don't disagree with your post overall, but do want to give some credit to the particular user being discussed. He had a solid bull value thesis that was well thought out and not at all based on memes, with the short squeeze potential being a mere afterthought. He has a great youtube channel where he explains his thesis in-depth. While he posts occasionally on WSB he does not seem to fit the wild gambler image that WSB has.

I don't have enough experience or knowledge to speak intelligently on whether his play was actually negative or positive expected value but it was not a random gamble.

Just felt the need to throw this out there because with all the attention this is getting I've seen him unfairly (in my opinion) being grouped with the admittedly large amount of people who are essentially just gambling.

[shicky]

what's his youtube?

[DCF]

Roaring Kitty

Here is an hour long video of him explaining his GameStop thesis: https://youtu.be/GZTr1-Gp74U

[rvz]

That guy bought and held GME since 2019 at ~$5 who yolo'd $53k with call options. Just one of many who took a diamond-handed bet on a lowly priced stock to be the 0.0001% of those who became multi-millionaires as soon as the short were squeezed up to $155 a share. Well played to that guy and others who didn't sell and got in very early.

As soon as it's reported on the news, for that stock at least it is probably too late to get in.

> more than any of the jealous fucks here will make in their lifetime working their miserable engineering jobs and afraid to take any risks in life

I'm afraid you're spot on. But I'm sure that some may say it is less risky to work at those FAANMG companies than it is to go all in your life-savings into meme stocks. (TSLA, GME, etc.)

On the other hand, building startups is also very risky, via the VC route or bootstrapped route. Depending IF you attract VCs to invest in it, its either you get acquired for >10x or IPO (might become a multi-m/billionaire), or you return their money or go completely bust.

Some play it safe whilst they watch others take risks.

[nceqs3]

Ken Griffin made $6 billion during the pandemic.

https://www.bloomberg.com/billionaires/profiles/kenneth-c-gr...

[pyrrhotech]

Yea and Elon Musk made 170B. Meanwhile, the average HN user probably made somewhere around 200k. I made 1.3 million last year. I know it's not a lot because I know people several orders of magnitude richer than myself, but I also know that there are risks worth taking in life, and no one becomes Elon Musk, Ken Griffin, DeepFuckingValue or even myself by calmly working a desk job. You have to have balls to really succeed in life.

There's an argument to be made that it's not worth it, that you are happy enough with your low 6 figure existence, but the sentiment here clearly shows that's not the case. The sentiment here shows that people are not happy in their FANG and other engineering jobs, and they are in fact incredibly jealous of Musk, Griffin and the newly rich WSBers, and instead of admit that jealousy, they make up lies claiming that the WSBers aren't winning, when it's clear as day they are in this moment and big hedge funds are the losers.

I'm not saying WSB will continue to win, I think hedge funds will get their shit together and not get themselves into a GME-like position again in the near future. However, let's call a spade a spade while it lasts. DeepFuckingValue and his WSB brigade have scored a HUGE win, many becoming overnight multi-multi millionaires, and instead of bash them, why not celebrate them for a day.

[mempko]

Ok, but what did you make the year before?

[xibalba]

And, more importantly, will be they be able to preserve that capital over the next 5 years? Will they survive a significant correction?

[thick]

Can’t upvote this enough. HN has turned to shambles over the years as people here are way more concerned with “getting out” than they are with building companies. It’s not surprising the place is a cesspool of jealousy whenever someone succeeds.

I’ve called them out on this shit years ago. It still hasn’t changed.

[dang]

This seems like a case of randomness plus sample bias equals overgeneralization. In case of indignation, multiply by 10x.

Separately: Could you please stop creating accounts for every few comments you post? We ban accounts that do that. This is in the site guidelines: https://news.ycombinator.com/newsguidelines.html.

You needn't use your real name, of course, but for HN to be a community, users need some identity for other users to relate to. Otherwise we may as well have no usernames and no community, and that would be a different kind of forum. https://hn.algolia.com/?sort=byDate&dateRange=all&type=comme...