apes_on_parade

@apes_on_parade@lemmy.whynotdrs.org

Sus admin alt account. Throwra_scentsitive on Reddit.

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apes_on_parade,

Hey! I’ll admit I’ve slept a bit on the status of DRS estimates between the quarterly report numbers… thank your for taking up the mantle of providing this data!

apes_on_parade,

Replace “teller” with “bank” because we are talking about legal ownership, not physical control.

They don’t have anything but a responsibility to care for it

While they absolutely “have a responsibility” to you, they also benefit from holding it, so your “anything but” rhetoric is incorrect. Brokers and banks alike earn money by lending the assets the have, despite their corresponding liabilities.

Do you think there isn’t a “clear record” without direct registration (from your other comment)

Correct. Legally, you have a “security entitlement”. Per UCC 8-503, the property interest you have a result of this entitlement is merely “a pro rata property interest in all interests in that financial asset held by the securities intermediary”, i.e. what your broker actually has, which is (a) opaque to you as a customer, and (b) is fundamentally difficult even for them to pin down - as it is composed primarily of their DTC account balance, ideally but they undoubtedly have many derivatives, transactions to settle (which can extend beyond 2 days because FTDs are common), shares lent out that are due to them, etc. So while the number of security entitlements in your account has a clear record, your property interest in the issuer does not have a clear record.

apes_on_parade,

Maybe if you have a fever, and the only prescription is more DRS

(sorry, couldn’t resist)

De-Occupy Wall Street (deoccupywallst.com)

“Wall Street uses money from stocks that regular people have invested in the stock market to hold the 99% down while propping up the 1%. That allows Wall Street to control the media, create division, and hand pick politicians who enforce and create laws that enable Wall Street to widen the wealth gap. The current system is a...

apes_on_parade,

I’ve been going with Liquidate Wall Street personally

apes_on_parade,

The “event timestamp” is most likely stored in epoch seconds but being interpreted as epoch milliseconds. If you correct that, it works out to March 3rd, 2021.

Edit to add: Regardless, I am calling this a nothingburger, I’d be willing to bet that the 999… value is just a placeholder for unknown values.

https://lemmy.whynotdrs.org/pictrs/image/3de19543-6f68-4131-9481-8ea1bb0917db.png

apes_on_parade,

Thanks Miller!

apes_on_parade,

Disclaimer: I have not watched “This is Financial Advice”, so if I miss something that’s covered there, my bad. Maybe I’ll have time to watch it someday, but that day is not today.

Your skepticism is understandable. However, my expectations around future GME (the security) prices are not fundamentally about expectations around GameStop (the company). All GameStop needs to do is not go bankrupt (which they are doing quite well based on their cash on hand), and any future business success / profitability is just icing on the cake.

Rather than betting on some unimaginably successful 1,000x business transformation, I am betting against Wall Street. Fundamentally, valuation of securities works on the assumption that shares are fixed in quantity (or only created/destroyed by equity-preserving events by the issuer). With the ubiquitous rise of online brokerages, security entitlements, high speed trading, and a derivatives market that far eclipses the value of the underlying assets, that assumption is flawed and regularly abused by Wall Street to extract huge sums of wealth from investors and issuers. At the same time, Wall Street is laxly regulated and hugely greedy, and has no qualms about putting itself in risky situations for short term profit with the assumption that problems will be fixed down the road. Unfortunately for them, that situation has been threatened since the events of January 2021. Since then, all the evidence I’ve seen suggests that the financial institutions, many of them mutually liable for each others failures under the DTC or other organizations and settlement agreements, are regularly engaged in kicking the can down the road and perpetuating net short positions. However, since 2021 investors in GME have started removing their shares from Wall Street, meaning that eventually accountability will be required for naked short positions and then true price discovery can occur. Until then, price fluctuations only matter to help me understand how many more shares I can acquire.

apes_on_parade,

As if the implosion of untethered corruption weren’t reward enough!

In more words: there are a spectrum of possible outcomes, but I do think there is a significant possibility that in attempting to deliver the underlying securities and thus closing out net short positions, the market price would go astronomically high, and that some of that could be paid for by liquidation of other institutional assets. I don’t have enough confidence in capitalist financial institutions to assign high probability to “full” payouts at MOASS market prices, but even “merely” the destruction of exploitative wealth hoarding necessary for a partial payout would result in more financial equality and less financially-driven social dysfunction, which is motivation enough for me. (Also worth keeping in mind that the exposure is not limited to individual short parties, but also to all members of the relevant clearing/depository organizations, pursuant to the rules of those organizations and their own individual self interests.)

apes_on_parade,

Ah, my home state!

apes_on_parade,

Here here

apes_on_parade,

If at a broker, keep lots smaller than 100

I’m not convinced that selling multiple shares is better than selling a single share for multiple times as much. My hope/goal is to keep 99.9% of my shares through MOASS. And 100% of my DRS’d shares.

apes_on_parade,

Whoa, this one is pretty unique with both of the numbers worked in there! Super cool :)

apes_on_parade,

Who knows, I’m not sure if it would even get on his radar

apes_on_parade,

The whole NFT thing was dead on arrival

I think that’s a bit premature.

While I’m sad that they shut down all the shareholder requests for an NFT dividend (for now), I still think the need filled by NFTs in gaming is undeniable in the long term, so I’m not ready to call the NFT marketplace dead yet. I imagine it would be pretty awesome if you were browsing in your local physical GS and could see and buy in-game assets right there in-store!

apes_on_parade,

Fidelity posting and then taking down meme stock guy with the purple circle was such a tell. Thanks for another great timeline post!!

apes_on_parade,

DWACing shares? What a mad lad

There Are Not More Shares Than There Should Be

"As a result, a beneficial owner’s ownership cannot be tracked to specific shares but rather its ownership interest is represented as a securities entitlement at his or her broker-dealer. Each of those beneficial owners don’t own the actual shares credited to their account " www.sec.gov/news/speech/2007/spch101607ers.htm...

apes_on_parade,

Share IOUs as far as the eye can see

apes_on_parade,

Thanks for the reminder. I’ll admit I put it off, and if it wasn’t for this post I probably would not have commented, but I just got it done!

How is all this connected to this saga? (lemmy.whynotdrs.org)

My brain is about to explode. Went down the rabbit hole. Pretty deep down there. Someone from “another place” sent me over to this guy’s site who is either a freaking genius or absolutely insane. But damn does it start to make these tweets these psst couple of years start to mean something....

apes_on_parade,

who is either a freaking genius or absolutely insane

I technically agree with this statement, and not the genius part

apes_on_parade,

Thank you for being a consistent contributor to the community!

apes_on_parade,

Copy paste works for me in the web UI from chrome

https://lemmy.whynotdrs.org/pictrs/image/bfa53433-2a23-41da-8a19-3e81c88061ee.png

apes_on_parade,

Dunno about the wefwef client, but you can just go on the desktop web UI and it has the stats in the sidebar. The instance has 624 users, 130 monthly active users, and this community has 715

Edit: also, we have guides here: lemmy.whynotdrs.org/post/33703 . Would you say they need more detail anywhere, or just to be posted on the website?

apes_on_parade,

And doesn’t challenge the person in the room

You keep repeating this as if that will make it true. But you literally linked to a video where he leads by clarifying that the crisis is real in response to Peterson’s rhetoric.

And yet RFK doesn’t think the most important one is actually the most important.

You’re just making this up to try to put words in his mouth. This is harmful for actually finding solutions. Again, he has described it as an “existential” problem. RFK Jr is trying to address concerns, because that’s necessary when people have concerns, but you’d rather pretend other concerns don’t exist as if that were a way to achieve anything.

apes_on_parade,

heh, thanks for your confidence in my abilities! We’ll see…

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