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$180! Sitting on a 312% gain, baby.
Had a limit order for more WGO that got filled yesterday at $61.
Economy stonks v27: banks, the kings of vega
- Thread starter rob mafia
- Start date
Had a limit order for more WGO that got filled yesterday at $61.
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R.I.P. to the GOAT of returns, Jim Simons. The Man Who Solved The Markets by Gregory Zuckerman was a good read about Simons and The Medallion Fund.
From 1988 to 2018 Simons got 66% annualized returns, 39% after fees.
From 1988 to 2018 Simons got 66% annualized returns, 39% after fees.
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Jim Simons, a mathematician who founded the most successful quantitative hedge fund of all time, passed away on Friday in New York City, his foundation announced on its website.
Pioneering mathematical models and algorithms to make investment decisions, Simons left behind a track record at Renaissance Technologies that bested legends such as Warren Buffett and George Soros. Its flagship Medallion Fund enjoyed annual returns of 66% during a period starting in 2018, according to Gregory Zuckerman’s book “The Man Who Solved the Market.”
During the Vietnam War, he worked as codebreaker for a U.S. intelligence unit that monitored the Soviet Union and successfully cracked a Russian code.
Simons received a bachelor’s degree in mathematics from MIT in 1958, and he earned his PhD in mathematics from University of California, Berkeley at the age of only 23. The quant guru founded what became Renaissance in 1978 at the age of 40 after he quit academia and decided to give a shot at trading.
Unlike most investors who studied fundamentals to evaluate a company’s worth, Simons relied completely on an automated trading system to take advantage of market inefficiencies and trading patterns.
“I have no opinion on any stocks... The computer has its opinions and we slavishly follow them,” Simons said in a CNBC interview in 2016.
His Medallion Fund earned more than $100 billion in trading profits between 1988 and 2018, with an annualized return of 39% after fees. The fund was closed to new money in 1993 and Simons only allowed his employees to invest in it starting 2005.
Quantitative strategies that depend on trend-following models have gained popularity on Wall Street since Simons revolutionized trading. Quant funds now account for more than 20% of all equity assets, according to an estimate from J.P. Morgan.
Simons’ net worth was estimated to be $31.4 billion when he died, according to Forbes.
The quant guru previously chaired the math department at Stony Brook University in New York and his mathematical breakthroughs are instrumental to fields such as string theory, topology and condensed matter physics, his foundation said.
Simons and his wife established the Simons Foundation in 1994 and have given away billions of dollars to philanthropic causes, including those supporting math and science research.
He was active in the work of the foundation until the end of his life. Simons is survived by his wife, three children, five grandchildren and a great-grandchild.
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Last edited:
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Oh my. The prodigal son has returned...
The GameStop (NYSE:GME) enthusiasm is building -- and starting to spread.
GME is up nearly +40% and taking aim at $25 per share. It started the month under $11.
Buying pressure for GameStop has been building all May but went up a notch after Keith Gill, known online as Roaring Kitty, tweeted for the first time in nearly three years. He simply posted a meme of a man leaning forward, but GME got the message that he was taking notice in of the recent action.
Now the Kitty has gotten the Apes fired up.
AMC (NYSE:AMC) +16%, another protagonist in the meme stock surge, is also rallying. While we are a far cry from the mania of 2021, traders will be keeping an eye on other names from that era like BlackBerry (BB), Koss (KOSS), Nokia (NOK), Carvana (CVNA) and Clover Health (CLOV).
The GameStop run started on May 2 with a jump of 16% on volume of more than 8M shares, about 3x higher than the previous session. Volume topped 36M on Friday, even though shares shed 3%.
The move has the hallmarks of a short squeeze, with reports of a dearth of shares available to borrow. But those squeezes tend to rip faster and this has been more of a slow build. Still, financial analytics firm Ortex says short sellers have lost $800M on paper so far and they reportedly could be in for losses of nearly $500M today if gains hold.
The GameStop (NYSE:GME) enthusiasm is building -- and starting to spread.
GME is up nearly +40% and taking aim at $25 per share. It started the month under $11.
Buying pressure for GameStop has been building all May but went up a notch after Keith Gill, known online as Roaring Kitty, tweeted for the first time in nearly three years. He simply posted a meme of a man leaning forward, but GME got the message that he was taking notice in of the recent action.
Now the Kitty has gotten the Apes fired up.
AMC (NYSE:AMC) +16%, another protagonist in the meme stock surge, is also rallying. While we are a far cry from the mania of 2021, traders will be keeping an eye on other names from that era like BlackBerry (BB), Koss (KOSS), Nokia (NOK), Carvana (CVNA) and Clover Health (CLOV).
The GameStop run started on May 2 with a jump of 16% on volume of more than 8M shares, about 3x higher than the previous session. Volume topped 36M on Friday, even though shares shed 3%.
The move has the hallmarks of a short squeeze, with reports of a dearth of shares available to borrow. But those squeezes tend to rip faster and this has been more of a slow build. Still, financial analytics firm Ortex says short sellers have lost $800M on paper so far and they reportedly could be in for losses of nearly $500M today if gains hold.
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bought and sold some AMC today, easy gains
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Shorts btfo once again lmaoooooo
Can't stop
Won't stop
GayStop
Can't stop
Won't stop
GayStop
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Damn the stock got frozen at the open
Crazy volume
Crazy volume
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The after hours keeps pumping. Then the fools get in at a high in the morning and sell of late morning. Rebuy repeat.
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The premarket was pretty intense, hit 13, came back down to 9, ramped back up to 12+ before the market opened and then crashing as soon as it went live
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Why are all these meme stocks pumping? Either way f*** that. I've been bent over by BlackBerry at least four different times since 2020. Never touching that stock again just like I'm never touching PayPal or Alibaba
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Buffett's mystery stock has been revealed. I guessed EWBC. I was wrong. Turns out it's Chubb, the insurer.
Warren Buffett finally revealed his secret stock pick in a new regulatory filing, and it’s insurer Chubb.
His conglomerate Berkshire Hathaway has bought nearly 26 million shares of Zurich-based Chubb for a stake worth $6.7 billion. The property and casualty insurer became Berkshire’s ninth biggest holding at the end of March.
Insurer Ace Limited acquired the original Chubb in 2016 for $28.3 billion in cash and stock, and the combined company adopted the Chubb name. Evan Greenberg, CEO of Chubb, is the son of Maurice Greenberg, the former chairman and CEO of insurance giant American International Group.
Berkshire has been buying a mystery stock for three quarters straight. Berkshire was granted confidential treatment to keep the details of one or more of its stock holdings confidential.
Many had speculated that the secret purchase could be a bank stock as the conglomerate’s cost basis for “banks, insurance, and finance” equity holdings jumped by $1.4 billion in the first quarter after an increased of $3.59 billion in the second half of last year, according to separate Berkshire filings.
It’s relatively rare for Berkshire to request such a treatment. The last time it kept a purchase confidential was when it bought Chevron and Verizon in 2020.
.....
Chubb made headlines recently because they were involved in the bond for Trump's E Jean Carrol case. If Buffett has been buying for 3 quarters straight, he's already made a nice little profit. Stock price has pretty slow and steadily been increasing.
Warren Buffett finally revealed his secret stock pick in a new regulatory filing, and it’s insurer Chubb.
His conglomerate Berkshire Hathaway has bought nearly 26 million shares of Zurich-based Chubb for a stake worth $6.7 billion. The property and casualty insurer became Berkshire’s ninth biggest holding at the end of March.
Insurer Ace Limited acquired the original Chubb in 2016 for $28.3 billion in cash and stock, and the combined company adopted the Chubb name. Evan Greenberg, CEO of Chubb, is the son of Maurice Greenberg, the former chairman and CEO of insurance giant American International Group.
Berkshire has been buying a mystery stock for three quarters straight. Berkshire was granted confidential treatment to keep the details of one or more of its stock holdings confidential.
Many had speculated that the secret purchase could be a bank stock as the conglomerate’s cost basis for “banks, insurance, and finance” equity holdings jumped by $1.4 billion in the first quarter after an increased of $3.59 billion in the second half of last year, according to separate Berkshire filings.
It’s relatively rare for Berkshire to request such a treatment. The last time it kept a purchase confidential was when it bought Chevron and Verizon in 2020.
.....
Chubb made headlines recently because they were involved in the bond for Trump's E Jean Carrol case. If Buffett has been buying for 3 quarters straight, he's already made a nice little profit. Stock price has pretty slow and steadily been increasing.
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Trying my luck with a short-term trade here. I bought WR Berkley (WRB) today at $78.56. I owned them about 10 years ago and did alright. It's an insurer. It's a pretty slow and steady gainer. Low volatility. Well, not really that slow. It's up 360% over the last 10 years.
It's down from about $89 a little over a month ago, which is around where I'm looking to sell it at. That would be about a 13% gain. Goes down more I'll pick up some more shares too. If I get stuck with it for a little longer than I plan, that's alright. It's a solid company.
It's down from about $89 a little over a month ago, which is around where I'm looking to sell it at. That would be about a 13% gain. Goes down more I'll pick up some more shares too. If I get stuck with it for a little longer than I plan, that's alright. It's a solid company.
