Discussion ***Official*** 2021 Stock Market Thread

[ponyo]

Since you love to insult instead of debate. Answer this question which I asked already. It (RH) made him to kill himself too? Yes or No?

Let see who is the idiot that loves to blame everyone else for his own action on his own FREE will.

One more thing. And you know everything about his RH account? Uh huh. LOL x 1000000000000000.

I know how spreads work. I'm done talking to you. Something about never argue with idiot.

 

[MrSquished]

You don't. You buy on the open market with the rest of the peons after the IPO.

That's what I thought, which why I was asking what he was talking about. We are all peons here when it comes to IPOs.

 

[Svnla]

I know how spreads work. I'm done talking to you. Something about never argue with idiot.

So far, all you have are insults and name callings and your self proclaim about spreads and nothing else.

Remember that you quoted me to start the ball rolling and I didn't quote you. I just replied in kind.

I am sure you know his personal RH as the back of your hand just because............. 😀

 

[ultimatebob]

You don't. You buy on the open market with the rest of the peons after the IPO.

Yeah, I'm not an "accredited investor" yet (AKA, a rich bastard with a net worth over a million dollars), so I'll have to wait in line with all the other poor folks to get my shares at an inflated price.

The best day to buy would probably be a day or two after the IPO, after the Tesla fanboys run it up 5x the IPO price on opening day. Some people will probably sell at that point for a quick buck, giving me a chance to buy on the dip.

 

[ponyo]

Yeah, I'm not an "accredited investor" yet (AKA, a rich bastard with a net worth over a million dollars), so I'll have to wait in line with all the other poor folks to get my shares at an inflated price.

The best day to buy would probably be a day or two after the IPO, after the Tesla fanboys run it up 5x the IPO price on opening day. Some people will probably sell at that point for a quick buck, giving me a chance to buy on the dip.

No, SpaceX is pretty much impossible to buy into for regular "accredited investor." You can have millions of dollars but that doesn't mean anything. You have to get extremely lucky and pay ridiculous fees to buy into SpaceX. It's really, really hard to buy SpaceX private shares.

 

[dasherHampton]

Remember that young guy that killed himself because he couldn't handle his risk taking so now his family is suing RH. This is why regular folks don't get nice things.

Robinhood sued by family of 20-year-old trader who killed himself after believing he racked up huge losses

Robinhood's "reckless conduct directly and proximately caused the death of one of its victims," the complaint said.

www.cnbc.com

.

In a legal system NOT completely controlled by lawyers a suit like this wouldn't have legs. RH couldn't possibly be held accountable for underlying conditions that trigger suicide.

But "suicide trigger" lawsuits are a relatively new industry for lawyers potentially worth hundreds of billions of dollars. In Illinois lawyers convinced a grieving mother to sue the governor over her son's suicide because lockdowns and the social isolation caused by them apparently drove him to take his own life.

 

[Svnla]

In a legal NOT controlled by lawyers a suit like this wouldn't have legs. RH couldn't possibly be held accountable for underlying conditions that trigger suicide.

But "suicide trigger" lawsuits are a relatively new industry for lawyers potentially worth billions of dollars. In Illinois lawyers convinced a grieving mother to sue the governor over her son's suicide because lockdowns and the social isolation caused by them apparently drove him to take his own life.

We become a nation of lawsuits and putting blames on someone else. Nothing about personal responsibility anymore.

In another thread, a woman put glue on her hair (on her free will) and now she is planning to sue. Good grief.

https://forums.anandtech.com/threads/be-careful-with-that-gorilla-glue.2590520/

Woman Who Put Gorilla Glue in Hair Gets No Relief at ER, Might Sue

The woman who put Gorilla Glue in her hair is considering legal action against the company.

www.tmz.com

I don't know about your neck of the wood but around here, ambulance chasing injury lawyers are yelling on their ads on TV (especially between the breaks of local newscasts)...."call us...make them pay" <insert testimonies about how much them lawyers got for their clients>.

 

[ultimatebob]

In a legal system NOT completely controlled by lawyers a suit like this wouldn't have legs. RH couldn't possibly be held accountable for underlying conditions that trigger suicide.

But "suicide trigger" lawsuits are a relatively new industry for lawyers potentially worth hundreds of billions of dollars. In Illinois lawyers convinced a grieving mother to sue the governor over her son's suicide because lockdowns and the social isolation caused by them apparently drove him to take his own life.

If Robinhood wasn't such a shitty company, I might feel sorry for them. They're like the late 1990's America Online of brokerages when it comes to customer service, and they deserve what's coming to them.

 

[Svnla]

If Robinhood wasn't such a shitty company, I might feel sorry for them. They're like the late 1990's America Online of brokerages when it comes to customer service, and they deserve what's coming to them.

I am all in for what they did a few days ago, limiting their clients ability during the GME/AMC/etc. madness but if I was a jury member for this case, I could not put the blame of the young guy's death squarely on RH because he even admit himself on his last note to his family that he didn't know what he was doing.

 

[dasherHampton]

Pat on the back post for myself because I need confidence from myself:

I clicked on the "portfolio performance" button on one of my accounts and I just broke 10% for the year. On Feb 9th.

I know these are extraordinary market conditions and won't last. Eventually people will stop overbuying options. But I'm going to enjoy it for the moment.

 

[echo4747]

Choosing between something like a Convertible Bond ETF (i.e. ICVT) vs a S&P500 ETF; which would be considered the investment with the higher level of risk?

 

[dasherHampton]

Choosing between something like a Convertible Bond ETF (i.e. ICVT) vs a S&P500 ETF; which would be considered the investment with the higher level of risk?

That sounds like a question you'd get on a licensing exam.

I have no clue. I've never bought an ETF and I have some bond funds but they're all inherited so I pretty much just let them sit.

 

[Tweak155]

"It made him"? Seriously? It (RH) made him to kill himself too? While I never used RH and not a fan of anything "free" to do my own finance matters, he played with fire and he got burned. He lost the money because he put too much risk/leverage on his account on his OWN free will. No one made him to do so, especially the part about killing himself. Period.

It's pretty clear you don't realize (or understand) what really happened. He was doing things he shouldn't be doing, but the outcome of what he did was not nearly as large as what RH was showing him, which is what Ponyo was pointing out.

Even the first linked article puts it in similar words: https://www.cnbc.com/2021/02/08/rob...s-20-year-old-trader-who-killed-himself-.html

The title of the article says "Robinhood sued by family of 20-year-old trader who killed himself after believing he racked up huge losses". Read the bullet points... "Kearns committed suicide in June after thinking he had a negative $730,165 cash balance on Robinhood."

All done with the hand holding if you can't figure it out from here.

 

[dasherHampton]

It's pretty clear you don't realize (or understand) what really happened. He was doing things he shouldn't be doing, but the outcome of what he did was not nearly as large as what RH was showing him, which is what Ponyo was pointing out.

Even the first linked article puts it in similar words: https://www.cnbc.com/2021/02/08/rob...s-20-year-old-trader-who-killed-himself-.html

The title of the article says "Robinhood sued by family of 20-year-old trader who killed himself after believing he racked up huge losses". Read the bullet points... "Kearns committed suicide in June after thinking he had a negative $730,165 cash balance on Robinhood."

All done with the hand holding if you can't figure it out from here.

I have not read anything to indicate the info he saw was incorrect. If you have could you link me to a source so I could understand?

I've ascertained from what I've read that the amount showing as a result of the trades was unsettled. Not wrong.

 

[Svnla]

It's pretty clear you don't realize (or understand) what really happened. He was doing things he shouldn't be doing, but the outcome of what he did was not nearly as large as what RH was showing him, which is what Ponyo was pointing out.

Even the first linked article puts it in similar words: https://www.cnbc.com/2021/02/08/rob...s-20-year-old-trader-who-killed-himself-.html

The title of the article says "Robinhood sued by family of 20-year-old trader who killed himself after believing he racked up huge losses". Read the bullet points... "Kearns committed suicide in June after thinking he had a negative $730,165 cash balance on Robinhood."

All done with the hand holding if you can't figure it out from here.

Look what I said in my previous posts. Did I say anything about the RH as a company was all up and up and bear none of the responsibility in this case or how it limited its clients during the GME/AMC rise? Nope. Nada. Zip.

What I said was how could RH make the guy killed himself. He did that on himself because from the article that I linked to...he admit in his last note to his family that...

The trader said he had “no clue” what he was doing, according to the note.

He had no clue and yet he killed himself and now RH is responsible for his death? Again, I am not disputing in RH bears some responsibilities in this case such as transparency and trading risks, especially how "hand off" and cavalier it was to newbies yet it claimed itself as a "free" and friendly trade platform to millennials. I am disputing how his death is on RH.

 

[FelixDeCat]

I would sue too if I was his family. Robinhood gave him option level he shouldn't have received and improperly showed false position and balance info. It made him think he had huge negative balance and made him feel hopeless. And Robinhood no customer service made it impossible for him to contact a live broker. Robinhood will lose this case. They will settle before this goes to trial.

The will probably try to settle for $730,165 cash. 😉

 

[Tweak155]

Look what I said in my previous posts. Did I say anything about the RH as a company was all up and up and bear none of the responsibility in this case or how it limited its clients during the GME/AMC rise? Nope. Nada. Zip.

What I said was how could RH make the guy killed himself. He did that on himself because from the article that I linked to...he admit in his last note that...



He had no clue and yet he killed himself and now RH is responsible for his death? Again, I am not disputing in RH bears some responsibilities in this case such as transparency and trading risks, especially how "hand off" and cavalier it was to newbies yet it claimed itself as a "free" and friendly trade platform to millennials. I am disputing how his death is on RH.

The post you quoted said "It made him think he had huge negative balance and made him feel hopeless." Which is exactly what the articles are saying. You're the one inserting "made him kill himself" out of thin air. We don't know all of the combination of factors that made him do that, all we know is this contributed to it in a very large way due to the evidence left.

 

[Svnla]

The post you quoted said "It made him think he had huge negative balance and made him feel hopeless." Which is exactly what the articles are saying. You're the one inserting "made him kill himself" out of thin air. We don't know all of the combination of factors that made him do that, all we know is this contributed to it in a very large way.

I don't want to sound rude or heartless but the fact is he did commit suicide = killed himself, I did not just insert that statement out of thin air as you claimed. His family is suing RH and put his death squarely on that company.....ie..RH is responsible for his death per the family, right?

So he thought he had a huge negative balance and felt helpless and then killed himself and now it is on RH? That is one broad brush you have there.

 

[MrSquished]

What I said was how could RH make the guy killed himself. He did that on himself because from the article that I linked to...he admit in his last note to his family that...

Obviously there is more involved here, RH didn't pull the trigger, or however he did it, but do you think that he would have killed himself if that misrepresentation of his negative balance wasn't there and RH customer service actually responded and alleviated that distress by their fucked up data?

 

[Svnla]

Obviously there is more involved here, RH didn't pull the trigger, or however he did it, but do you think that he would have killed himself if that misrepresentation of his negative balance wasn't there and RH customer service actually responded and alleviated that distress by their fucked up data?

Again, see my posts above. I never said RH was all that and should not bear any responsibility but his death should not be it. He made that rash decision. He even thought that his debt would be on his own family and they would be responsible for all of that.

Now if RH is being sued for fucked up data, lack of customer service, lack of transparency, misleading as friendly trading platform to millennials while ignoredtrading risks to their clients, etc. then I would say yes, RH is guilty.

 

[Tweak155]

I have not read anything to indicate the info he saw was incorrect. If you have could you link me to a source so I could understand?

I've ascertained from what I've read that the amount showing as a result of the trades was unsettled. Not wrong.

He received an automated margin call email requesting $170k in cash deposits, then an email after he died stating his "margin call was met". This shorter article sums it up with less fluff details:

Parents of Man Who Died Thinking He Lost Over $730,000 Sues Trading App Robinhood After Student Killed Himself

Alex Kearns, 20, died by suicide last June after desperately trying to contact the stock trading app, his devastated parents say

people.com

EDIT:

Since he couldn't get ahold of RH to understand what was going on, he took these actions as signs he was on the hook is how I interpreted it. He at minimum shouldn't be getting a margin call for something he doesn't actually have to put up.

 

[MrSquished]

Again, see my posts above. I never said RH was all that and should not bear any responsibility but his death should not be it. He made that rash decision. He even thought that his debt would be on his own family and they would be responsible for all of that.

Now if RH is being sued for fucked up data, lack of customer service, lack of transparency, misleading as friendly trading platform to millennials while ignoredtrading risks to their clients, etc. then I would say yes, RH is guilty.

Then what should RH bear responsibility for if he would have not killed himself then if they didn't fuck up?

 

[Tweak155]

I don't want to sound rude or heartless but the fact is he did commit suicide = killed himself, I did not just insert that statement out of thin air as you claimed. His family is suing RH and put his death squarely on that company.....ie..RH is responsible for his death per the family, right?

So he thought he had a huge negative balance and felt helpless and then killed himself and now it is on RH? That is one broad brush you have there.

Point out where anyone else claimed RH made him kill himself? You're the only one in recent posting that put it that way...

 

[Svnla]

Then what should RH bear responsibility for if he would have not killed himself then if they didn't fuck up?

IMO, RH should be responsible for misleading millennials about how "easy" and "friendly" its trading platform while downplay the huge risks of trading, especially toward newbies. From the article I linked to, the company claims it is getting better on that. I think RH should be responsible for the lack of transparency about how it really makes money. His death was tragic but the company should not be responsible for that.

 

[Svnla]

Point out where anyone else claimed RH made him kill himself? You're the only one in recent posting that put it that way...

Did you see what I posted? From the article I posted...his family is suing RH and put his death squarely on that company.. He killed himself, his family claimed RH is responsible/the root cause...

........Robinhood's reckless conduct directly and proximately caused the death of one of its victims,” the complaint said. The lawsuit is also accusing the brokerage of negligent....

Was I wrong on to say RH made him to do so?