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!

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.

Reuploaded to OP!

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

(sorry, couldn’t resist)

I’ve been going with Liquidate Wall Street personally

It’s the older one that was made for actual collaboration on the drsgme.org website.

I’ve re-uploaded it to my Google drive: https://drive.google.com/file/d/1gqT4UdIoURT_LFZko3tpnfqzNc7pffcc/view?usp=sharing

Thanks Miller!

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.)

Are you in this discord? If not, I can find another place too upload it…

https://discord.com/channels/955819881989808128/1059573570122023022/1060301849695105036

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.

Yup. I have a recording from the WSB daily space/call from the morning after where they coyly allude to it while also denying it

Preposterous…

“We appreciate Pulte likes the stock, but so do so many other wonderful stockholders.” … and Pulte content is removed, so any stockholder content is off limits by that logic.

PS. I would’ve missed this if not for your post, thank you for capturing and sharing!!!

Ah, my home state!

Here here

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!

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

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

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

DWACing shares? What a mad lad

Would users authenticate through lemmy? Any chance you could stand up a sandbox/staging canvas ahead of time to test that out? Or is it just a totally separate authentication?