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RadMan24

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He will be investigated but set free - 'cause he did nothing wrong.

 

A post on a social media site is simply 'entertainment'. An 'investment recommendation', is also NOT subject to censure, as long as it is NOT made by a designated investment professional (CFA, FCSI, etc.). DFV was just good at 'promotion', and acted on his opinions, which is not illegal. Similarly, much of the daily media 'news' is entertainment, and not subject to censure, if a professional broadcaster was not involved in its production.

 

It really just highlights how out of date the current Investment Act is.

No change for a very long time, until one day the dam breaks - and its a six-sigma event.

 

SD

 

 

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Guest cherzeca

there is a difference between a corporate insider using social media (MUSK) and some shareholder....like you or me. nothing to see here...

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there is a difference between a corporate insider using social media (MUSK) and some shareholder....like you or me. nothing to see here...

 

Sadly I'm not so sure ....

Agreed, an insider cannot pump his/her company during a 'blackout' period - but outside of that? demonstration of ongoing confidence is somewhat expected. If not speaking of your own firm, then a conference speaking to the developing prospects for your sector of the industry. Tweet directly, or use a professional, you're still using social media.

 

SD

 

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He will be investigated but set free - 'cause he did nothing wrong.

 

...NOT subject to censure, as long as it is NOT made by a designated investment professional (CFA, FCSI, etc.).

...

SD

 

But that is exactly where they will go after him.  By saying that he IS a designated investment professional.  He was a registered broker with Finra, and also a CFA.

 

But I agree with you that he should not be punished and did nothing wrong.  But that doesn't mean he didn't break rules of his profession that leave him open to having to deal with this shit.

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Guest cherzeca

He will be investigated but set free - 'cause he did nothing wrong.

 

...NOT subject to censure, as long as it is NOT made by a designated investment professional (CFA, FCSI, etc.).

...

SD

 

But that is exactly where they will go after him.  By saying that he IS a designated investment professional.  He was a registered broker with Finra, and also a CFA.

 

But I agree with you that he should not be punished and did nothing wrong.  But that doesn't mean he didn't break rules of his profession that leave him open to having to deal with this shit.

 

if I read correctly, DFV has $14MM in cash now plus some GME, and is not a practicing CFA.  I would be chillin if I were him

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  • 2 weeks later...
Guest cherzeca

thanks for this post spek

 

all I am aware of is he posted his analysis on social media. how can he be in legal jeopardy? its beyond me (40 years a lawyer)

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Ultimately my GameStop investment was a success. But the thing is, I felt that way in

December far before the peak, when the stock was at $20 a share. I was so happy to visit my

family in Brockton for the holidays and give them the great news – we were millionaires. That

money will go such a long way for my family. We had an incredibly difficult 2020. In addition

to dealing with COVID, we lost my sister Sara unexpectedly in June. It brought me tremendous

joy to share good news with my family for a change. I am grateful to be able to give back to my

community and to support my family, most of all my wife Caroline who has stuck with me through

very tough times.

 

I read this and thought, wow, this guy is a hero!

 

As for what I expect moving forward: GameStop’s stock price may have gotten a bit ahead

of itself last month, but I’m as bullish as I’ve ever been on a potential turnaround. In short, I like

the stock. And what’s stunning is that, as far as I can tell, the market remains oblivious to

GameStop’s unique opportunity within the gaming industry.

 

And then I thought, no I was wrong, this man is a LEGEND!

 

;D

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I guess sharing research and opinions about stocks in online message forums is market manipulation?

 

What world are we living in?

 

I mean, they're just investigating, no judgement is made yet. But I get your point, of all the shady crap that goes on, this is the one they decide to delve into...

 

Remember the good old days, when the SEC were literally handed a full blown case into a hundred billion dollar ponzi scheme, and did absolutely nothing with it?

 

If they did not investigate, there would be an outcry that they are not investigating...  ::)

 

It’s in the news everywhere, so politicians have to take a look. In my opinion, there is nothing to investigate, it’s all out there in his YouTube videos.  Maxine Waters should watch a couple of them from 5-6 month ago when he got started and I bet she could learn something, if she cared.

 

So the trouble is, FINRA sucks with this kind of stuff. I used to publish seeking alpha articles anonymously while i worked part time for an FA. But since I worked for an FA and was registered, our compliance department wanted me to run every article through them because even though it was anonymous, and not targeted at our clients, our clients COULD stumble upon it and identify who I was and hold the company responsible. I got in loads of trouble for not having precleared multiple articles I had already written prior to realizing preclearance was necessary.

 

My concern is that while this guy did nothing wrong - he also probably didn't have a compliance department reviewing his posts and videos and approving them with disclaimers, disclosures, and fine print before mass distribution on his YouTube channel and WSB.

 

He won't go to jail, but he might be fined by FINRA or have his license suspended or have issues with his current broker dealer/employer holding him responsible for not getting this stuff vetted/approved by compliance before posting. It's all BS, but it is the regulation in the industry.

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At this point, I suspect the hearing is about informing the house not trying to accuse Mr Gill of a crime, it would be a tragedy and diversion of they did.

I also think the letter is very well written and it’s true. I watched his streams on YouTube  and there are very clear disclaimers and I found them informative. I don’t know if he broke any regarding his employment, but that would be inconsequential anyway as regards to what happened with those short squeezes and GameStop.

 

So I hope the house takes this as an opportunity to inform themselves rather than find a scapegoat. whatever happened and went wrong here, there are much bigger fish to fry here - the CEO‘s of Robinhood, Melvin Captital management, Citadel, the fellows running the clearinghouse etc.

 

Anyways, I will watch his testimony offline I suppose and hope all goes well.

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At this point, I suspect the hearing is about informing the house not trying to accuse Mr Gill of a crime, it would be a tragedy and diversion of they did.

I also think the letter is very well written and it’s true. I watched his streams on YouTube  and there are very clear disclaimers and I found them informative. I don’t know if he broke any regarding his employment, but that would be inconsequential anyway as regards to what happened with those short squeezes and GameStop.

 

So I hope the house takes this as an opportunity to inform themselves rather than find a scapegoat. whatever happened and went wrong here, there are much bigger fish to fry here - the CEO‘s of Robinhood, Melvin Captital management, Citadel, the fellows running the clearinghouse etc.

 

Anyways, I will watch his testimony offline I suppose and hope all goes well.

 

I think you misunderstand US legal system (IANAL LOLZ though).

House is not in the business of suing people based or not based on the hearings.

There are other governmental or non-governmental organizations that can sue him.

In fact, there is already a class-action lawsuit against him and his employer from people who lost money on GME.

Finally, pretty much anyone can sue anyone in US. This does not mean that the lawsuit will be successful.

 

IANAL again.

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At this point, I suspect the hearing is about informing the house not trying to accuse Mr Gill of a crime, it would be a tragedy and diversion of they did.

I also think the letter is very well written and it’s true. I watched his streams on YouTube  and there are very clear disclaimers and I found them informative. I don’t know if he broke any regarding his employment, but that would be inconsequential anyway as regards to what happened with those short squeezes and GameStop.

 

So I hope the house takes this as an opportunity to inform themselves rather than find a scapegoat. whatever happened and went wrong here, there are much bigger fish to fry here - the CEO‘s of Robinhood, Melvin Captital management, Citadel, the fellows running the clearinghouse etc.

 

Anyways, I will watch his testimony offline I suppose and hope all goes well.

 

I think you misunderstand US legal system (IANAL LOLZ though).

House is not in the business of suing people based or not based on the hearings.

There are other governmental or non-governmental organizations that can sue him.

In fact, there is already a class-action lawsuit against him and his employer from people who lost money on GME.

Finally, pretty much anyone can sue anyone in US. This does not mean that the lawsuit will be successful.

 

IANAL again.

  ::)

 

 

I'm all about using internet acronyms to avoid the wear & tear that leads to carpal tunnel,

however, in this case I'd throw caution to the wind and spell the whole thing out.

 

;D

 

Then again, YOLO...

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Thought he crushed it. Clear precise and direct.

 

Yea, I don't see how any lawsuit is successful against him. 1.) He's a Legend. and 2.) This whole episode is just entertaining to watch unfold.

 

Your honor, I am not a cat and the defendant is a Legend.

 

Case dismissed!

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This guy is so ballsy. He was holding strong at $40+ million and now, literally giving a testimony and says he's not a cat (I wonder if that's a hint at that other recent video of the attorney). haha

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This guy is genuine, he deserves every penny of his gain (sorry, should say, he deserves every million of his gain)

I'll trade him for 1,000 Chamath anyday. And other high-IQ all-about-me characters that seem to be everywhere now in the investment world.

 

If ever retail investor community needed a face as public ambassador, his would be the right one.

Just a working man. I like that.

 

My only regret he wasn't on this board and decided to be on Reddit.

Opportunity cost for sure, but it is not like I would have invested in GameStop (would have put that in the value-trap pile)

 

 

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