Good piece on r/WallStreetBets

[Nomad]

So it appears that Citadel has Ben Bernanke as an "advisor," Janet Yellen on the payroll to the tune of $850,000, and now it's coming out that the White House press secretary Jen Psaki may even have a relative working as a PM there: https://twitter.com/colinkalmbacher/status/1355241077721063430

 

If you recall, Psaki was asked about a potential investigation into the Gamestop matter yesterday and refused to answer whether Yellen would have any conflict of interest related to her speeches at Citadel. The Wall Street-to-government revolving door appears to be humming along just fine.

[stahleyp]

So it appears that Citadel has Ben Bernanke as an "advisor," Janet Yellen on the payroll to the tune of $850,000, and now it's coming out that the White House press secretary Jen Psaki may even have a relative working as a PM there: https://twitter.com/colinkalmbacher/status/1355241077721063430

 

If you recall, Psaki was asked about a potential investigation into the Gamestop matter yesterday and refused to answer whether Yellen would have any conflict of interest related to her speeches at Citadel. The Wall Street-to-government revolving door appears to be humming along just fine.

 

This should be illegal. This whole system is so messed up.

[thepupil]

I posted some thoughts on the WSB/GME phenomenon in the intro of this:

 

https://libertyrpf.substack.com/p/84-my-thoughts-on-wsb-phenomenon

 

Loved this description. With the DOXXING of DeepF---Value as a CFA, investment advisor, and value investor, does this change your opinion at all? This seems to be a deep value play by DFV, Scion, Chewy guy, combined by some reckless shorts more than a pump-and-dump.

 

Now the charlatans like Chamath, Portnoy, and Elon are piling on. But it started as a really smart deep value trade not a pump-and-dump.

 

Roaring Kitty/DFV is awesome. just watched a couple of videos where he describes his style. nice, humble, student of the game who tonned it and made $13-$40mm+ for himself. to me that's the coolest part of this whole thing.

[fareastwarriors]

I posted some thoughts on the WSB/GME phenomenon in the intro of this:

 

https://libertyrpf.substack.com/p/84-my-thoughts-on-wsb-phenomenon

 

Loved this description. With the DOXXING of DeepF---Value as a CFA, investment advisor, and value investor, does this change your opinion at all? This seems to be a deep value play by DFV, Scion, Chewy guy, combined by some reckless shorts more than a pump-and-dump.

 

Now the charlatans like Chamath, Portnoy, and Elon are piling on. But it started as a really smart deep value trade not a pump-and-dump.

 

Roaring Kitty/DFV is awesome. just watched a couple of videos where he describes his style. nice, humble, student of the game who tonned it and made $13-$40mm+ for himself. to me that's the coolest part of this whole thing.

 

https://www.youtube.com/channel/UC0patpmwYbhcEUap0bTX3JQ

 

?

[thepupil]

This one specifically (and the part 2). I watched a little bit of his live streams but they’re really long.

 

I’m happy for the guy. I hate the whole populist kill the short sellers narrative but this guy is hilarious and got the big things right.

 

[rb]

So it appears that Citadel has Ben Bernanke as an "advisor," Janet Yellen on the payroll to the tune of $850,000, and now it's coming out that the White House press secretary Jen Psaki may even have a relative working as a PM there: https://twitter.com/colinkalmbacher/status/1355241077721063430

 

If you recall, Psaki was asked about a potential investigation into the Gamestop matter yesterday and refused to answer whether Yellen would have any conflict of interest related to her speeches at Citadel. The Wall Street-to-government revolving door appears to be humming along just fine.

 

This should be illegal. This whole system is so messed up.

I don't get it. Why should it be illegal?

[stahleyp]

So it appears that Citadel has Ben Bernanke as an "advisor," Janet Yellen on the payroll to the tune of $850,000, and now it's coming out that the White House press secretary Jen Psaki may even have a relative working as a PM there: https://twitter.com/colinkalmbacher/status/1355241077721063430

 

If you recall, Psaki was asked about a potential investigation into the Gamestop matter yesterday and refused to answer whether Yellen would have any conflict of interest related to her speeches at Citadel. The Wall Street-to-government revolving door appears to be humming along just fine.

 

This should be illegal. This whole system is so messed up.

I don't get it. Why should it be illegal?

 

Perhaps it should be legal for doctors to prescribe medicine and then "retire" and get a "consulting" job at a pharmaceutical company making 4x their previous salary too?

 

I mean, surely the doctor wouldn't be biased at all when making the day to day decisions when they know how lucrative "consulting" is if they play their cards well, right?

 

I'm of the opinion that public service should be just that. Not a way to enrich oneself. Jimmy Carter should be the standard - not the exception.

 

Note, I'm not trying to take this into a political direction!

[TwoCitiesCapital]

So it appears that Citadel has Ben Bernanke as an "advisor," Janet Yellen on the payroll to the tune of $850,000, and now it's coming out that the White House press secretary Jen Psaki may even have a relative working as a PM there: https://twitter.com/colinkalmbacher/status/1355241077721063430

 

If you recall, Psaki was asked about a potential investigation into the Gamestop matter yesterday and refused to answer whether Yellen would have any conflict of interest related to her speeches at Citadel. The Wall Street-to-government revolving door appears to be humming along just fine.

 

This should be illegal. This whole system is so messed up.

I don't get it. Why should it be illegal?

 

Perhaps it should be legal for doctors to prescribe medicine and then "retire" and get a "consulting" job at a pharmaceutical company making 4x their previous salary too?

 

I mean, surely the doctor wouldn't be biased at all when making the day to day decisions when they know how lucrative "consulting" is if they play their cards well, right?

 

I'm of the opinion that public service should be just that. Not a way to enrich oneself. Jimmy Carter should be the standard - not the exception.

 

Note, I'm not trying to take this into a political direction!

 

I generally agree. While I don't think ones professional endeavors should make one unsuitable for public service, it's certainly something to be considered when they're taking the job. And vice versa - the roles that they can assume when exiting.

 

I'm not yet convinced anything nefarious is happening here. I find it way easier to believe the plumbing and capitalization of the US financial system never conceived that 1 million reddit users would bid an irrelevant company up to a $30 billion valuation using calls and margin and thus wasn't prepared for it - or the obvious repercussions.

[Santayana]

A friend just sent me a great post they saw on WSB.    "We can remain retarded longer than you can remain solvent!"

[Spekulatius]

This is what loosing a WSB looks like:

https://www.cnbc.com/2021/01/31/melvin-capital-lost-more-than-50percent-after-betting-against-gamestop-wsj.html

[fareastwarriors]

A friend just sent me a great post they saw on WSB.    "We can remain retarded longer than you can remain solvent!"

 

That one I seen before.

I have to say there are lots of creativity in the sub. Had me laughing hard a bunch of times.

[stahleyp]

That was fast.

 

https://www.topps.com/cards-collectibles/online-brands/2021-topps-garbage-pail-kids-gamestonk.html

 

 

[SharperDingaan]

It will become much more fun when a sizeable hedge fund is targeted for extinction.

All it needs is a quiet leak as to what the bulk of the targets long-short combo's are ;) and a competitor bites the dust by the end of the week. After all why share the market take with many? when there's an opportunity to remove a few.

 

SD