I don't know dave they short the stock over 100% it's like the mathematicians who won the lottery more than 3 times and were ask to stop or maybe counting card on blackjack (the house doesn't like to lose)
Well you ended up in a great place to my friend! This dude was a millionaire ended up broke because of bad decisions and is a millionaire again Smiley faced we can all get out of this hole if we want to! Glad you are here :-)
The irony in feasting on the GME carcass like this. Buying back $50 games from 9 year olds for $9. Then reselling x3 that price. GameStop trained a generation on this.
for real I don't know why they never brought that up as if he can suddenly make 50 grand without paying any taxes, especially since it was short term capital gains
Was looking for this comment… think it’s horrible for him not to advise on the tax implication. Short term gains are taxed as ordinary income. Depending on state he’s in, that tax bill could be around 7 or 8 grand if not more.
@@LevelEarthBerk That's not true😂 The stock IPO'ed at $18/share and now it's at $335.59/share as of 10 second ago when I checked. That's a 19x increase. A $55,000 investment turned into $30 million is a 545x increase which is impossible considering the stock has only risen 19x since it became available to the public... Where did you get your information from?
@@williamwaugh6 - depending on where he lives, he’ll have state and federal taxes. The federal capital tax rate can be as high as 37%, for capital gains.
From the little I know from studying real estate, you can defer capital gains with a 1031 exchange and get a larger property. Does such a thing exist with any capital gains? Could he reinvest that $46k into another asset to defer the tax?
@@BASEDinMaine1031 exchange does have more factors than just choosing to differ. But for stocks no. You can sell them rebuy somewhere else. But, you can reinvest somewhere else, if you lose, you can just use it as a tax deduction. Same way if he would have done this in his IRA, he woulda been fine. Or if he woulda held longer than a year, he would avoid short term cap gain. All to say, probably has to Vite the bullet and pay.
It has nothing with getting rich - it is about screwing these hedgefunds that are using the pandemic to kill companies by shorting them into oblivion. HOLD THE LINE!
He can’t wrap his head around the idea that the Reddit crowd driving up the stock price are not doing it to make money. The point is to bring attention to how shady, yet tolerated short selling is.
But that doesn't negate that people are investing real money in it, in this guy's case $5,000, that I presume most of the people can't afford to lose (if they're a part of the abused middle class, as I've heard some say they are).
@@DB-ep6jy Just because you're a boomer doesn't mean you support hedge funds. Why would he even go on the hedge funds side no matter what even though Dave doesn't even have a hedge fund?
@@ryugurena3327 Make no mistake about who’s the minnow and who’s the whale here. This is simply that someone found a vulnerability and exploited it for reasons other than making money. At best it means changes in regulation for short selling, at worst it makes going short even riskier.
Yup, rookie mistake cashing all of it out. Ideally you want to cash it out at set intervals. So say it gets to 100 per stock, take out 25%, 200 another 25% etc etc.
The more I watch Rachel the more I enjoy her presence on the show. She's very straightforward and always keeps the conversation focused. I'm going to start checking her videos out more
@@truth.speaker wall street is doing anything in their power to shut the show down. I think 300 a share is already a very good deal, if you hold much longer, even if the squeeze happens, it will be so fast that most people won't be able to sell before it crashes to the ground. Get out while you can, save yourself, it's been a fun ride
My single favourite thing about Dave is the way he is always open to helping folks even when they admit to his face they haven't followed his advice, but want some help now.
I brought up GME on the Dave Ramsey "LIVE" 2 days ago and was shut down immediately by the chat moderator saying Dave was not going to discuss this. I just wanted Dave to discuss what had happened, like he is doing here.
Because an organized effort has never failed. I made really good money on this but it was dumb luck. If you think anything else, you're lying to yourself and you're probably going to lose it.
Maybe so. But it’s for a purpose. You simply cannot use this whim of a $5k bet on black and use that as your investment process. It’s simply not a good strategy. The $ is a one-off ..shot in the dark flash on the pan win that is not a valid strategy for investing money
@@LaGrandeBayou that's a bad analogy because betting on roulette is a 'double your money or nothing bet. Gamestop was very undervalued with potential of new growth based due to the new ceo. Buying in March when the stock was $2.50 could yield a much higher payout and was projected to grow regardless of a short squeeze or not. It's rare (unless you're trading options) that buying stock is going to result in you losing everything.
Derek Gamestock was going under...no one is denying that... that’s why the hedge fund guys were shorting it’s downfall to begin with. The brick n mortar GameStop’s are not coming back. No matter how long the reddit army hangs on and holds their paper receipts. Also this guy is living pay check to pay check YET somehow found $5k to RISK on this?? Without any investment background..? Who does that..? Do you take those type of risks?? No one in their right mind does..and they shouldn’t either. Your correct it’s not the best analogy but the lesson learned is what he did was similar to “putting it all on black”. Most people cannot will not and should not think this way with thousands of dollars THEY DO NOT HAVE TO LOOSE. This is a one-off WIN that he will NEVER duplicate again. And lastly...never forget the deck is stacked against us in every direction..why do you think Citadel is propping up BOTH Melvin and Robinhood ??? *The game is and always was FIXED from jump street*
@@tigerrx7 Double is pretty terrible... He risked losing 20k+ to make only 40k? That’s a terrible deal imo lol. I put 600 in Uni and I’m up to 2000 now, don’t consider that amazing even though it’s 300%+ just seems like the guy gambled with his money and got lucky. Good for him lol. I thought he only started with 5k though?
When gme was worth 4 bucks per share, Was it 4 bucks because its fundamently is worth that, or is it cuz of hedgefunds over leveraging and shorting 140 percent of shares in a organized capital. These hedge funds are destroying bussinesses.
@@xman666soad if you don't cash out you don't get the gains, you have to cash out eventually because gamestop is going to eventually go out of business, it is not a good company to hold on to for years
I like how these boomers leave out 140% of the stocks were shorted. These young men on Reddit arent as stupid as people think. Theyve found a way to get wealthy and form bonds and friendship in a new environment where good paying jobs are fleeting., college is overpriced, theres a gender-race-relious-political divide, and everything is inflated due to the printing of money. Im proud of these young men. The older blueprint wont work for them and the boomers are just worried about their 401ks. Its a new world. Im a 41 year old GenXer and got into cryptocurrency in 2016 and everyone laughed at me. No ones laughing now that we're entering our second bull run. Advice is a form of nostagia and boomers cant relate to what these young men are up against.
@@EagleTwo758 Prob. never cleaned a toilet for money in her life. It is extremely bad to have your kids leeching off your success like that. Help them sure, but to put them to the top at that age just inflate their ego and leaves them clueless about how the average person lives.
You are assuming that the shares he sold were bought by a hedge fund. They may have been bought by some other small time investor who will ride it down to zero.
@@harrychufan At what point in time? It matters. If the ratio flipped from private ownership to institutional during the squeeze, then we might assume that the hedge funds had to buy from the private investors. If the hedge funds have had this 95% position all along, then it weakens the case that private investors are the ones pocketing the proceeds of these sales.
@@MeloFloww It seems that the people from Wall Street crying over losing on their own rigged game are the ones who loose a lot. By the billions, it's actually great.
@@CyberPonz-nc3oh I never got in long or short. I don’t think sticking to one hedge fund and providing an opportunity to another hedge fund in the process accomplishes anything
@@EagleTwo758 Dave is also old. This dude is doing better than Ramsey was at the same age. Dave is right though, the key point is that long term success is about cultivating good decisions. Just because you had a good outcome doesn't mean you made a good decision. Truly successful people can tell the difference. Don't stop good behavior over bad luck and don't start bad behavior because of good luck. The main difference is that Dave didn't lucky when he was making risky bets in his youth.
@@ianfitchett2768 Why are you assuming this kid is immune to life challenges and is only going up? A lot can happen between 23 and 50, even with the most intelligent and educated people.
@@ianfitchett2768 And Dave was bailed out by filing bankruptcy, something he discourages his product...uh...I mean "customers" from doing, which is tremendously deceptive and hypocritical.
Short selling isn’t remotely scummy. It roots out fraudulently pumped up companies, and worst case scenario, provides a great buying opportunity if it gets shorted a little too low
@@MrAdamdumont89 It is when you understand that hedge funds do end arounds to try and further deflate the price on the regular. So the logic that short selling is simply a regulatory practice to police over priced stocks is not at all 100% the case.
@@ccmusic2249 Which provides an even better long term buy opportunity if they’re wrong about the price. Pretending that bad behavior only exists on short selling, not long buying, and only hedge funds, not other traders is ridiculous. It’s all wrong no matter who does it
@@andretheprince lol sorry man I was just quoting the Joker from the dark night. I don't do day trading. I don't know enough about stocks to risk doing it.
This dave Ramsey dude is a clown hes still thinking like hes living in 2003. Follow dudes like cathy woods , camath, elon musk if you really want to make money
It's estimated they're down 80 Billion on this at the moment. That's actually pretty big deal. Also don't get it twisted. Even a multi billion dollar hedge fund is going to squirm losing a billion dollars. Michael Burry's fund risked something like 1.8 billion on his short play, and he almost got fired for it.
@@elliott8596 yes it is still a huge amount, but think how much these "small gains" change the lives of retail investors, compared to what changes for the hedge fund manager with these losses. Even if their company goes bankrupt, I bet they don't struggle for one day financially. They wont be forced to sell one vacation home or exotic car.
They lost 70 billion dollars so far Dave. And an important aspect of it is that they shorted over 130% of the stock. That's why we have them trapped and they can't exit. This is not lotto or gambling as you dismiss it, this was a well-calculated action. I'm tired of everyone in the media not telling the truth.
This guy cashed out on GameStop's first surge which was below $100 (I think he cashed out around $65 per share)... had he waited a couple days he would be sitting on $150-$200k. Thats rough... but I wish I had his problem lol
I may have paper hands but. I also have my life saving in tact while having still helped stop the short sellers. Game stop and the short selling hedge bois aren’t my problem. I made tendies and I’m still gonna make tendies tomorrow too.
I have to strongly disagree with Dave in this one. We the people have noticed from public data available to everyone that this Billion dollar judge fund was betting on GameStop to fail and we made the info available and the people who listened profited the same way these billionaires profit. We the People can come together and Make money together if we work together independently towards the same goal!
I wish all these "hold the line" anti establishment types could recognize that Dave Ramsey teaches the most anti establishment message there is. Get. Out. Of. DEBT.
Okay... but he also has most his net worth in real estate which isn’t smart. Nobody lost money ever investing in things like Coca Cola or McDonald’s and they’re pandemic/recession proof. He’s at the point now where diversity is best to maintain his wealth. He may be rich but he ain’t Kevin O’Leary or Warren Buffet so he should sit down and be humble.
@@Kevin_Roche I downloaded an app called Stash idk if it's good, the ask for my SS# idk if all apps do that. I'll have to download schwab and check it out. Thank you for your insight, much obliged.
Ken Coleman contradicts Dave sometimes too and I appreciate that. The rest of them are just "yes men" for the most part. Not that they are bad folks or anything. Dave just has a tendency to be overbearing since he's such a choleric.
@@ryankiel4895 I don't blame them for it. When you disagree with your boss, it tends to create hostility. Now for this sort of venue, some level of it is healthy. But human's are human and most humans don't take too kindly to disagreement. And especially when it's your boss, it's safer to be a yes man than it is to ruffle feathers.
Dave, you didn’t address the fact he’s going to have a huge capital gain on the $47K profit he made. If he pays off his student loans as you suggest he’ll be lucky with the leftover profit to pay Uncle Sam.
Wild One You are right about that. Dave is good but I guess he did not think of that. No one is perfect. That's why we read the posts and learn from each other. Dave Ramsey is the best I've seen so far.
The way the current tax brackets are if he makes less than 40k per year then his Federal capital gains tax is zero, he may have some state capital gains taxes depending on Florida but I think that’s a negative on them to because it’s a low tax state.
If wealth redistribution was the point of the whole thing, it seems like it worked out. Sounds like he could use the money, and he got it while the hedge funds lost money.
What did they do wrong though? Its less the "kids buying stocks". HF's shorting to this magnitude is high risk poker. Their bluff got exposed. I shed not one tear.
So Dave completely left out the key fact that the short sold more shares than actually existed. And the KEY component is that the short sellers had a date which they HAD to buy the stock back at any price. And they not only “lost their bet”, they had to buy the stocks back at the $300 price instead of around $20
I want to be the first person in my family to break the cycle of poverty, to give my parents a better life, and to give my siblings hope that it can be done!!
1:22 - it bugs me when Dave responds me that. He acts like he’s the only person that knows what to do with money. He’s so condescending and rude sometimes. But here I am listening to him again 🤦🏾♂️
perreira831 I thought the same thing. Dont think Dave appreciates the little guy sticking to the big guy. Power elites of both party have benefited from the status quo for long time.
I didn't get that part of his argument. Maybe you can enlighten me. How is it bad to pick (many) single stocks? In this case, you would be the monkey picking randomly. You can even follow his advice and never have more than 10% in a single stock. So let's say, you invest in 20 different companies long term. You might even outperform some experts (just as in the study with monkeys).
I’m 27 and for the first time this year I bought a lotto ticket and my husband bought 2 scratchers to celebrate my first time gambling. 😂 I didn’t win the lotto but I did win $20 on a scratcher. I don’t know how people enjoy gambling. I felt like I was doing something bad. Even with the win of $20. I was glad we won our money back so it’s kinda like it never happened. LOL
@@MilesCobbett deepfuckingvalue has Dave’s net worth just off GME. And Dave’s net worth is mostly in real estate which isn’t diversified enough. He’s just too traumatized from bankruptcy take ANY chances.
Say goodbye to debt forever. Start Ramsey+ for free: bit.ly/35ufR1q
💎🙌
I hope Dave mentions to him to take care of any taxes.
@@joesmith-ju7hh I was thinking the same thing! Hopefully he isn't in Ca. where he would have about 40% taken away from taxes.
Yeah I wish one of the first things he said was to hang onto a good chunk of it for taxes
I don't know dave they short the stock over 100% it's like the mathematicians who won the lottery more than 3 times and were ask to stop or maybe counting card on blackjack (the house doesn't like to lose)
Aaron!! You were suppose to hold to the Moon!! CMON MAN
Feelsbad. Should have held till 1000
I’m still holding mine!! To the MOON!!
The ones holding to the moon are gonna get all the respect and none of the money
You mean hold until he lost his money, like most people will.
@@lukescapee1234 ???
I’m just clicking on anything with GameStop
Well you ended up in a great place to my friend! This dude was a millionaire ended up broke because of bad decisions and is a millionaire again Smiley faced we can all get out of this hole if we want to! Glad you are here :-)
Same. 🤣
😂😂
So everything right now? Lol
keep watching this guy. dave ramsey podcasts n everything trust me you wont regret it.
“I cashed out completely”
So it’s treason then
Cash out to protect what you put in, but don’t do it completely
I only put in 1k I won’t ever cash out. That’s money I’m willing to lose
Let the paper hands flee. We never needed them! 💎🙌
He's got them paper hands
@@Cash4gold84 im in the same boat just X2
every family has a person who breaks the chain of poverty. I hope you will be that person!
I just replied to your other comment!
I am that person it feels amazing.
If an idiot like can do it you can do it too!
Cut off money losing friends and family first though.
@@nurbsenvi if you realy believe it, I'm sure you are!
@naturalbeauty02 make 1% more every day, and the results will come fast
Not every family...
Dave: What are you studying?
Aaron: Aerospace Engineering.. cuz I'm going to the MOOOOOOON 🚀🚀🚀🚀
😂😂😂
YESSSSS LOOOOL
💎🤲
This man bets! WallStreetBets
those rocketships is like the calling card lol.
Dave’s just angry that GameStop only offered him $7.35 for his PlayStation 2.
😂
I still have my ps2 lol. Great games
Omg 😆
More like his Nintendo. hahaa
Especially after all those pizza deliveries it took to buy it 😂😂😂
The irony in feasting on the GME carcass like this. Buying back $50 games from 9 year olds for $9. Then reselling x3 that price. GameStop trained a generation on this.
💯
Trueeeeeee
I still regret trading in my GameCube!
Wow. 10,000% correct.
Lol 😂
The “rest of the money” is tax money my dude.... don’t forget about taxes!!!
for real I don't know why they never brought that up as if he can suddenly make 50 grand without paying any taxes, especially since it was short term capital gains
Umm, how come they didn't bring this up. So dumb, this guy....
The guy is going to go in debt if he pays off his loans.
YEah as a financial advice guy he should have made sure that the caller knows that.
Was looking for this comment… think it’s horrible for him not to advise on the tax implication. Short term gains are taxed as ordinary income. Depending on state he’s in, that tax bill could be around 7 or 8 grand if not more.
I made $425,000 on it
Congrats!
cap
Can I see a pic?
Roaring kitty on UA-cam made over $30 million on it off a $55,000 investment
@@LevelEarthBerk That's not true😂 The stock IPO'ed at $18/share and now it's at $335.59/share as of 10 second ago when I checked. That's a 19x increase.
A $55,000 investment turned into $30 million is a 545x increase which is impossible considering the stock has only risen 19x since it became available to the public... Where did you get your information from?
After you cash out, set plenty of money aside for Uncle Sam.
LOL...Ain't enough cash to cash out...why do you think the Clearing Houses went down?
And then Uncle Sam will bail out the billionaires.!
Short term capital gains probably 12-15 % on his trade..... he's still killing it , mrs. negative nelly.
Hater!!! You work and still get taxed
@@williamwaugh6 - depending on where he lives, he’ll have state and federal taxes. The federal capital tax rate can be as high as 37%, for capital gains.
Dave, you forgot to tell him to set money aside for taxes on capital gains. Taxes on $46k is no joke.
From the little I know from studying real estate, you can defer capital gains with a 1031 exchange and get a larger property. Does such a thing exist with any capital gains? Could he reinvest that $46k into another asset to defer the tax?
@@BASEDinMaine no
@@abitamimbharmal1498 yes he could
@@BASEDinMaine1031 exchange does have more factors than just choosing to differ.
But for stocks no. You can sell them rebuy somewhere else.
But, you can reinvest somewhere else, if you lose, you can just use it as a tax deduction.
Same way if he would have done this in his IRA, he woulda been fine.
Or if he woulda held longer than a year, he would avoid short term cap gain.
All to say, probably has to Vite the bullet and pay.
I bought AMC stock not for the money but to show the elites that regular people in this country still have power.
I only bought it cuz it wouldn't let me buy anymore
Lol
same..not much but its for the cause...plus hopefully amc gets back
what is it how do i buy
I like the stock
i've made $42,069 on GME and im not freaking selling!!!! DIAMOND HANDS!!!!!!!
Chump change
You haven't made anything if you didn't sell.
WE LIKE THE STOCK
If you haven’t sold then you haven’t made the money.
How much did you initially invest?
I turned ~3.5K into 130K on GME. Debt gone and ready to start the next chapter of saving and investing!
Why pay off debt when you can make more money? Lol
DWAC, AIAD, and CFVI are the next plays.
How long did that took?
@@richguev Hedge funds always win. lol
Hedgefunders: “and I took that personally”
HOLD THE LINE!
AMC
NOK
BB
@@thefire3465 Holding!!! For dear life!
It has nothing with getting rich - it is about screwing these hedgefunds that are using the pandemic to kill companies by shorting them into oblivion. HOLD THE LINE!
💎🤲
I like the stonks
Only thing ramsey got wrong here is that its not over yet....they haven't even got close to covering all those shorts. HOLD
He can’t wrap his head around the idea that the Reddit crowd driving up the stock price are not doing it to make money. The point is to bring attention to how shady, yet tolerated short selling is.
But that doesn't negate that people are investing real money in it, in this guy's case $5,000, that I presume most of the people can't afford to lose (if they're a part of the abused middle class, as I've heard some say they are).
Dave is boomer. Bunch of hedge funds are boomers. So Dave is on hedge funds’ side. Make sense at all
@@DB-ep6jy Just because you're a boomer doesn't mean you support hedge funds. Why would he even go on the hedge funds side no matter what even though Dave doesn't even have a hedge fund?
They started an all out war against the rich. We will beat them at their own game
@@ryugurena3327 Make no mistake about who’s the minnow and who’s the whale here. This is simply that someone found a vulnerability and exploited it for reasons other than making money. At best it means changes in regulation for short selling, at worst it makes going short even riskier.
You know the world is crazy when a Dave Ramsey video has the hashtag "GameStonk"
LOL
I got 17 shares of AMC today. To the moon or into the trash its just for fun 😅
I had to check to see if it was true it is🤣🤣
He has weirdly great music between his show segments, too. Obviously someone with insanely good taste is running it.
Euphoric
What he should've done, is cash out enough to pay for the debt and let the other 8k ride to the moon 🚀
Yup, rookie mistake cashing all of it out. Ideally you want to cash it out at set intervals. So say it gets to 100 per stock, take out 25%, 200 another 25% etc etc.
@@MobileAura that and then reinvest a percentage of the cash out to the dip and continue to HOLD
@@MobileAura are you saying he should've sold all share but withdraw 25% every couple weeks
100%
@@MobileAura taxes
This is not a pump-and-dump stock. It's a revolution. HOLD!
It’s the biggest pump-and-dump scheme in history. Get out before it crashes back to the average analyst valuation of roughly $15
Not a pump and dump
Not quite a pump&dump, but can be for some. Either way, its a bubble.
Nope
Hold the lines you degenerates 😂😂😂🚀🚀🚀
The more I watch Rachel the more I enjoy her presence on the show. She's very straightforward and always keeps the conversation focused. I'm going to start checking her videos out more
I especially like Rachel when Dave let's her talk and doesn't interrupt her.
Does Rachel have a channel??
@@dilly2023
Yes. You can normally find a link in the show notes.
@@BigChuck525 thanks
Rachel was holding in her laugh, she must have been like “He did not just call the show to ask about something my dad is against.”
i just learned rachel is his daughter and i have been a fan for awhile
HOLD THE LINE DON'T BE LIKE THIS GUY HE HAS PAPER HANDS
A week from now we will see
Hold the line for what? Years to come for the memes? Fun ride but cash out especially if you bought in a year ago for $2 lol
@@schwann1826 I agree
10x gains is enough. There's no need to go any higher.
It can't maintain this price forever
His wife's boyfriend says Aaron has paper hands.
@@truth.speaker wall street is doing anything in their power to shut the show down. I think 300 a share is already a very good deal, if you hold much longer, even if the squeeze happens, it will be so fast that most people won't be able to sell before it crashes to the ground. Get out while you can, save yourself, it's been a fun ride
Look I respect him he didn't say maybe it could get higher he said that was fun but I've got my fill let me go pay my bills
Exactly!
My single favourite thing about Dave is the way he is always open to helping folks even when they admit to his face they haven't followed his advice, but want some help now.
He’s Rachel’s parent he can do that to her. The caller called to ask what to do with the money not how to get outta debt etc.
I learned to get an envelope, put GME in it, seal it, and HOLD.
Surprise! You open up the envelope this Christmas and find a $10 bill in it. What a nice surprise...
Your a hero
WE LIKE THE STOCK
Gme?
@@abrahamperez967 your ticket to the moon.
I find it ironic that he’s from “Gainesville” hahah
That was my first though
I thought it was a joke
Yeah UFlorida
AND he's studying Aerospace Engineering?! Is this caller bullshitting us?! hahaa
Agent Migs, UF has a very good engineering program.
I brought up GME on the Dave Ramsey "LIVE" 2 days ago and was shut down immediately by the chat moderator saying Dave was not going to discuss this. I just wanted Dave to discuss what had happened, like he is doing here.
Says a lot about how they really feel about it 🙃
Not surprising wealthy elite hate the idea of "peasants" beating them at the game they spent millions of dollars getting politicians to implement.
go back to your mutual funds peasant!
That’s why Dave is for middle class financial advice and that’s it
7:01 This wasn’t luck Dave, this was an organized coordinated effort 🚀
Because an organized effort has never failed. I made really good money on this but it was dumb luck. If you think anything else, you're lying to yourself and you're probably going to lose it.
We like the stock
@@Incedio456 gets it
It was luck for this particular caller. He cashed out already.
The dude who GAINed $47k in GameStop lives in GAINSville
lol ok
Meme magic baby
Who cares
Fake caller
To the Moon!!!!
This is the worst congratulations for profiting $46K.
The FOMO was radiating off Dave. Cringe.
@@derekderek2570 maybe his wisdom to not gamble money in that capacity was showing. Don’t want to encourage behavior like that
Maybe so.
But it’s for a purpose. You simply cannot use this whim of a $5k bet on black and use that as your investment process.
It’s simply not a good strategy.
The $ is a one-off ..shot in the dark flash on the pan win that is not a valid strategy for investing money
@@LaGrandeBayou that's a bad analogy because betting on roulette is a 'double your money or nothing bet. Gamestop was very undervalued with potential of new growth based due to the new ceo. Buying in March when the stock was $2.50 could yield a much higher payout and was projected to grow regardless of a short squeeze or not. It's rare (unless you're trading options) that buying stock is going to result in you losing everything.
Derek
Gamestock was going under...no one is denying that... that’s why the hedge fund guys were shorting it’s downfall to begin with.
The brick n mortar GameStop’s are not coming back. No matter how long the reddit army hangs on and holds their paper receipts.
Also this guy is living pay check to pay check YET somehow found $5k to RISK on this??
Without any investment background..? Who does that..?
Do you take those type of risks??
No one in their right mind does..and they shouldn’t either.
Your correct it’s not the best analogy but the lesson learned is what he did was similar to “putting it all on black”. Most people cannot will not and should not think this way with thousands of dollars THEY DO NOT HAVE TO LOOSE.
This is a one-off WIN that he will NEVER duplicate again.
And lastly...never forget the deck is stacked against us in every direction..why do you think Citadel is propping up BOTH Melvin and Robinhood ???
*The game is and always was FIXED from jump street*
Caller: I have game stop stock. WalLstreet bets: HOLD HOLD!
You must be happy this morning seing your money dwindle away
I'll only guess you haven't been trading for years. Anyone with little trading experience would have cashed in at 400 range
Hodl their bags no thanks
💎💎🚀
If he would of hold out he would of lost $$$$$ it’s worth $40 a share as of today
They actually lost 70 billion as of yesterday
You love to see it.
Mr. Ramsey, You forgot to remind him about taxes owed on his gains.
Short term is about 12% at his income rate
Yeah 12% on 47,000 of gains, peanuts man. The takeaway is he walked away with more than double his initial capital.
@@tigerrx7 Double is pretty terrible... He risked losing 20k+ to make only 40k? That’s a terrible deal imo lol. I put 600 in Uni and I’m up to 2000 now, don’t consider that amazing even though it’s 300%+ just seems like the guy gambled with his money and got lucky. Good for him lol. I thought he only started with 5k though?
@@MobileAura I thought he said he put in 5k$ and came out with 46K
@@JoseRhodeIsland Yeah I think that's what he did actually lol 😅
Dave, buddy, friend.
Its not about getting returns on the Gamestop investments.
its about sticking it to the hedge fund companies.
HOLD THE LINE.
@@caribbeanbound8357 at 140% short interest they sure made it dumb easy. And they had to cover the squeeze. Like taking candy from a hedge fund.
When gme was worth 4 bucks per share, Was it 4 bucks because its fundamently is worth that, or is it cuz of hedgefunds over leveraging and shorting 140 percent of shares in a organized capital. These hedge funds are destroying bussinesses.
The wealthy elite (dave ramsey included) consistently forget to mention that little caveat.
just came here to see how Dave freaks out
Lol
🤑 I cashed in on Game Stop
Dave: 🤨😤😠 You didn't work my plan! You got lucky! (I say it because I am jealous you made $47 out of $5)
Exactly! 😂😂
Dave can’t handle this story !He wises he had Game Stop stocks.
Lol I feel the same 😂😂
Trust me. He doesn't. He's a millionaire and 46k is nothing to him.
@@vickieclark5931 Yeah he was probably invested w/ the hedge funders
He already holds 100% of Dave and Co business. Why would you invest into somebody else?
He said to not make it a strategy. Trust me
“When the rich rob the poor, it’s called business. When the poor fight back, it’s called violence.”
- R2D2
That’s deep!
Gaurav Parmar nice quote bud 👍🏾👍🏾
Amen!
Agreed.
Sent chills down my spine
Don't forget the taxes!
That’s only if you cash out.
@@xman666soad and this person did cash out.
As long as you lose it before the end of the tax year, you won't have to pay taxes on it lol
@@xman666soad if you don't cash out you don't get the gains, you have to cash out eventually because gamestop is going to eventually go out of business, it is not a good company to hold on to for years
And it's short term.
Question: Were the big boys NOT gambling when they overshorted the Gamestock stocks?
Exactly!
I like how these boomers leave out 140% of the stocks were shorted. These young men on Reddit arent as stupid as people think. Theyve found a way to get wealthy and form bonds and friendship in a new environment where good paying jobs are fleeting., college is overpriced, theres a gender-race-relious-political divide, and everything is inflated due to the printing of money. Im proud of these young men. The older blueprint wont work for them and the boomers are just worried about their 401ks.
Its a new world. Im a 41 year old GenXer and got into cryptocurrency in 2016 and everyone laughed at me. No ones laughing now that we're entering our second bull run.
Advice is a form of nostagia and boomers cant relate to what these young men are up against.
@@eyezwideopen7590 they leave it out to try to make wsb look like the bad guys so that they can save they're billionaire friends on wallstreet
@@eyezwideopen7590 Rachel is his daughter and rich as phuk
@@EagleTwo758 Prob. never cleaned a toilet for money in her life. It is extremely bad to have your kids leeching off your success like that. Help them sure, but to put them to the top at that age just inflate their ego and leaves them clueless about how the average person lives.
Dave please speak more to how the Hedge funds operate. Do they prey on companies that are in trouble?
Essentially
Good for this guy. Take money from hedge funds.
Funded by the reddit community. XD
You are assuming that the shares he sold were bought by a hedge fund. They may have been bought by some other small time investor who will ride it down to zero.
95% institutional ownership on GameStop.
@@harrychufan At what point in time? It matters. If the ratio flipped from private ownership to institutional during the squeeze, then we might assume that the hedge funds had to buy from the private investors. If the hedge funds have had this 95% position all along, then it weakens the case that private investors are the ones pocketing the proceeds of these sales.
@@mikebetts2046 it’s been there for at least before the squeeze.
The people that get a divorce after winning lotto is because they wanted one before winning, but couldn't afford it.
Facts
🤣🤣
Hookers and blow tend to help divorce
@@drygordspellweaver8761 Hookers and blow tend to help in general. :)
Been waiting for a call like this (about Gamestop)
GAINESville, Florida. Absolutely fitting for this situation
We live in a simulation.
I call B.S when Dave says "I'm happy for ya"
i know...he lost money in this
@@MeloFloww It seems that the people from Wall Street crying over losing on their own rigged game are the ones who loose a lot. By the billions, it's actually great.
@@MeloFloww Someone is jelous. Some of them made a couple hundred thousand off of it. If they are clowns, than I'm ready to join the circus.
I'm not even watching, i'm just here to say: HOLD IT!!!🚀🚀🚀
GME and AMC to the moon!
Give it up man. It’s on the backside of the move. GET OUT!!!
@@MrAdamdumont89 DONT GET OUT
@@MrAdamdumont89 PAYED BY hedgefund
@@CyberPonz-nc3oh I never got in long or short. I don’t think sticking to one hedge fund and providing an opportunity to another hedge fund in the process accomplishes anything
“Some men are not looking for anything logical, some men just want to watch Wallstreet burn.”
Alfred
This intelligent grad student doesn't really need Dave's advice he just wanted to rub it in his face. 🤣
Dave is a multi-millionaire how money has that guy got? If he's so smart why did he call Dave to ask what should he do with it? Lol
@@EagleTwo758 Dave is also old. This dude is doing better than Ramsey was at the same age. Dave is right though, the key point is that long term success is about cultivating good decisions. Just because you had a good outcome doesn't mean you made a good decision. Truly successful people can tell the difference. Don't stop good behavior over bad luck and don't start bad behavior because of good luck. The main difference is that Dave didn't lucky when he was making risky bets in his youth.
@@ianfitchett2768 Why are you assuming this kid is immune to life challenges and is only going up? A lot can happen between 23 and 50, even with the most intelligent and educated people.
@@EagleTwo758 Clearly you don't think on very many levels
@@ianfitchett2768 And Dave was bailed out by filing bankruptcy, something he discourages his product...uh...I mean "customers" from doing, which is tremendously deceptive and hypocritical.
Short selling is scummy. I love everything about this story 🙂
Short selling isn’t remotely scummy. It roots out fraudulently pumped up companies, and worst case scenario, provides a great buying opportunity if it gets shorted a little too low
@@MrAdamdumont89 It is when you understand that hedge funds do end arounds to try and further deflate the price on the regular. So the logic that short selling is simply a regulatory practice to police over priced stocks is not at all 100% the case.
@@ccmusic2249 Which provides an even better long term buy opportunity if they’re wrong about the price.
Pretending that bad behavior only exists on short selling, not long buying, and only hedge funds, not other traders is ridiculous. It’s all wrong no matter who does it
Can we all agree that "Game Stop stock" is hard to say
Say that 5 times fast..
Gamestonk for short. Much easier
I just said Game Stock🤣
Was waiting for them dentures to pop out lol
This was never about making money. It's about screwing those hedge funds
YEA, OK 🤔
It's always about money.
"it's not about money... it's about sending a message."
@@justinwilliams2197 ok so if that's the case ,Then hold all you game stop stock all the way back down to $5
@@andretheprince lol sorry man I was just quoting the Joker from the dark night. I don't do day trading. I don't know enough about stocks to risk doing it.
@@justinwilliams2197 lol ok cool 😁.
I'm a simple gal, I see Uncle Dave talking about GameStop, I click!
Same!
1:54 Dave is sort of missing the point, the point isn't to make money, the point is to destroy the hedge fund.
He understands the point, and he’s usually tough on big companies like that.
Why would I want to sacrifice my own money to destroy other peoples money?
@@PointNemo9 ok, boomer
@@PointNemo9 😆
@@PointNemo9 exactly
Who’s ready to call Dave Ramsey after $AMC has a short squeeze????
👈
Its coming soon I can feel it
@@misterd5241 Glad someone else revisited this vid while we're this deep in the movement 😂
😂😂😂 this will be awesome
@@DeAdMaU5xD95 I revisit this video once in a while. We will be in the callers shoes very soon!!
It’s not about the money. It’s about sending a message
What message is that?
Ok joker
What message is that? I got lucky like the lottery?
The message is. Stop gambling with shortselling
@@stefanfouche6823 Interesting that gambling speculators on a forum called "Wall Street Bets" are trying to send that message if that's the message..
Sees the title immediately heads to comment section.
*grabs popcorn*
lol
Yep. Right here
I can’t believe Dave Ramsey didn’t tell him to put away for Taxes . I’m shocked
Sometimes lessons need learning the hard way.
I get the impression that he was a little miffed that Aaron admitted to owning some stock.
In GameStop, no less.
This dave Ramsey dude is a clown hes still thinking like hes living in 2003. Follow dudes like cathy woods , camath, elon musk if you really want to make money
@@dropshipincanada i'll choose to listen to the debt free person that has a down to earth personality.
@@dropshipincanada Elon Musk 🤣🤣🤣
I hope y’all do it again and make Wall Street hurt
Me too
Next time this happens I wish to know which stock play to be in AHEAD of time.
Hedge fund loses a billion, they wont even bat an eye. This guy changed his whole life.
It's estimated they're down 80 Billion on this at the moment. That's actually pretty big deal. Also don't get it twisted. Even a multi billion dollar hedge fund is going to squirm losing a billion dollars. Michael Burry's fund risked something like 1.8 billion on his short play, and he almost got fired for it.
@@elliott8596 yes it is still a huge amount, but think how much these "small gains" change the lives of retail investors, compared to what changes for the hedge fund manager with these losses. Even if their company goes bankrupt, I bet they don't struggle for one day financially. They wont be forced to sell one vacation home or exotic car.
They lost 70 billion dollars so far Dave. And an important aspect of it is that they shorted over 130% of the stock. That's why we have them trapped and they can't exit. This is not lotto or gambling as you dismiss it, this was a well-calculated action. I'm tired of everyone in the media not telling the truth.
Correct. Not often does one find a great opportunity but this was it.
You don't make it a strategy tho eh cupcake
@@EagleTwo758 ok boomer
This guy cashed out on GameStop's first surge which was below $100 (I think he cashed out around $65 per share)... had he waited a couple days he would be sitting on $150-$200k. Thats rough... but I wish I had his problem lol
I like that Rachel challenges Dave lol. The only personality one who will
Only a daughter would
She's in her rebellious phase
If they disagree with Dave too much, the might not get popular with the audience and their separate shows don’t do well.
Rachel recites what she’s been taught, she doesn’t live it.
He was kind of frustrated
DO NOT SELL!!! Aaron has paper hands, Real Men have Diamond hands
@@caribbeanbound8357 I doubt it.
Good luck lol
You don’t want to be holding GameStop when the bubble bursts
I may have paper hands but. I also have my life saving in tact while having still helped stop the short sellers. Game stop and the short selling hedge bois aren’t my problem. I made tendies and I’m still gonna make tendies tomorrow too.
you're broke and poor hands
Why did I just now find out that Rachel is his daughter 😂
lol
Really 🤔👍
Did you? I noticed this right away. Why? Because they feel comfortable with each other and, when you look closer, she looks like him.
Well, anyway, she looks like a nice girl ;)
How long have you been listening to the Dave Ramsey show ?????
I have to strongly disagree with Dave in this one. We the people have noticed from public data available to everyone that this Billion dollar judge fund was betting on GameStop to fail and we made the info available and the people who listened profited the same way these billionaires profit. We the People can come together and Make money together if we work together independently towards the same goal!
It's a great story...encouraging!!!
I wish all these "hold the line" anti establishment types could recognize that Dave Ramsey teaches the most anti establishment message there is. Get. Out. Of. DEBT.
Hooah!
very fair point
Beautiful observation.
Okay... but he also has most his net worth in real estate which isn’t smart. Nobody lost money ever investing in things like Coca Cola or McDonald’s and they’re pandemic/recession proof. He’s at the point now where diversity is best to maintain his wealth. He may be rich but he ain’t Kevin O’Leary or Warren Buffet so he should sit down and be humble.
At this point it isn't luck, it is a self fulfilling prophecy
Join the resistance, buy a share of GME for the cause.
Where or what kind of app should I use to buy?
@@thinkbeforeyoureact2988 Use a reputable brokerage like Schwab. Don't be a 🐑 and use RH or WeBull.
@@Kevin_Roche I downloaded an app called Stash idk if it's good, the ask for my SS# idk if all apps do that. I'll have to download schwab and check it out. Thank you for your insight, much obliged.
@@thinkbeforeyoureact2988 Build your capital. Use a real brokerage. Do your due diligence.
AMC TO THE MOON
Rachel is the only one who will challenge Dave. LOL! Love to see the interaction.
It makes sense considering she's his daughter hahah
Duh 🙄 she’s his daughter he gave her a job and to a certain extent he needs her.
Ken Coleman contradicts Dave sometimes too and I appreciate that. The rest of them are just "yes men" for the most part. Not that they are bad folks or anything. Dave just has a tendency to be overbearing since he's such a choleric.
@@ryankiel4895 I don't blame them for it. When you disagree with your boss, it tends to create hostility. Now for this sort of venue, some level of it is healthy. But human's are human and most humans don't take too kindly to disagreement. And especially when it's your boss, it's safer to be a yes man than it is to ruffle feathers.
Dave is absolutely correct. Don't get me wrong I'd like to see the GameStop brand make a come back but day trading is gambling pure and simple.
Dave, you didn’t address the fact he’s going to have a huge capital gain on the $47K profit he made. If he pays off his student loans as you suggest he’ll be lucky with the leftover profit to pay Uncle Sam.
Seriously!!! Taxes on a stock held less than a year, hmm 30% I’d estimate!!
Wild One You are right about that. Dave is good but I guess he did not think of that. No one is perfect. That's why we read the posts and learn from each other. Dave Ramsey is the best I've seen so far.
Yea that’s what I had on my mind the whole video
The way the current tax brackets are if he makes less than 40k per year then his Federal capital gains tax is zero, he may have some state capital gains taxes depending on Florida but I think that’s a negative on them to because it’s a low tax state.
@@kevinthomas2437 You would think he would at least mention something about it? Even to say at least look into it. Strange.
you were supposed to HOLD THE LINEEEEEEEE! Sounds like someone’s got PAPER HANDS
More like profit to me.
If wealth redistribution was the point of the whole thing, it seems like it worked out. Sounds like he could use the money, and he got it while the hedge funds lost money.
Lol it's under $60 right now
$40 now
@@stevenharris2230 around 140 now. Glad i hold 👍👍
ALL I AM HEARING IS THIS GUY DID NOT TAKE IT TO THE MOON!
"The kids on reddit drove the price of the stock up. They're Fun" Yeah that's a billion dollars worth of fun right there.
What did they do wrong though? Its less the "kids buying stocks". HF's shorting to this magnitude is high risk poker. Their bluff got exposed. I shed not one tear.
@@Getloose360 yup that was my point. It's evolved from a meme to a multi billion dollar movement that is going to change WallStreet
WE LIKE THE STOCK!
I wish they drive the up the stocks I own!!
"7 Billion"
So Dave completely left out the key fact that the short sold more shares than actually existed. And the KEY component is that the short sellers had a date which they HAD to buy the stock back at any price. And they not only “lost their bet”, they had to buy the stocks back at the $300 price instead of around $20
I want to be the first person in my family to break the cycle of poverty, to give my parents a better life, and to give my siblings hope that it can be done!!
Don't gamble on single stocks
Good for you 👏🏻👏🏻
I'm happy for everyone that was able to profit off of this !
Made a 10 bagger on GME as well and I’m able to pay off my car 7months ahead of schedule
Way to go, dude!
Shouldn’t Dave also tell him to save some
Money for capital gain taxes next year?
Dave usually pretends taxes don’t exist during his call
@@Shadowwind4 especially when people mention yearly salaries.
poor guy didnt get his answer to his question, He already knew he was going to pay off the student debt, he was asking what to do with the rest :(
There is no rest, goes to taxes.
“To the Moon🚀” a Netflix special
"Pow! ZOOM! Straight ta da moon!"
an AMC special
Uncle Sam will be knocking on the door for his share
Yep.
22% - he still made money
Even if he didn't make that, Uncle Sam would still be knocking. So not sure what you mean
crustielandroxx333 Exactly, don’t let taxes deter you from making money
@@bravehats that's not much tbh. Are you sure it's that low for short term trades? Would've thought it would be closer to half
NO DONT SELL DIAMOND HANDS WE LIKE THIS STOCK
WE LIKE THE STOCK!
We Like This Stock ❤️❤️
It’s neat ..
WE LIKE THE STOCK
You guys are gonna get burned. Take your money and run!!!
GME went up over 6,000% in less than one month and went from about $5 to $500. It was heavily, heavily manipulated.
1:22 - it bugs me when Dave responds me that. He acts like he’s the only person that knows what to do with money. He’s so condescending and rude sometimes. But here I am listening to him again 🤦🏾♂️
Dang, and I thought I did good with turning $5K to $25K swing trading over 2 years in college lol. Congratulations man!
But you did :)
You did do good. If you mean “better”. Dont fall into that comparison game. You made money too! Good on you!
You did man don’t worry
I am proud of you more than these speculators.
Well thats that, Dave Ramsey will not be going to the moon guys. 🤷♂️
Dave looks like he took this one personal. Hold the line people.
perreira831 I thought the same thing. Dont think Dave appreciates the little guy sticking to the big guy. Power elites of both party have benefited from the status quo for long time.
100% this long video of him calling it gambling and luck. Hes trying to protect his own wallet with this long ramble.
Single stocks are not necessarily day trading.
What is day trading actually? I own a little stock
Day trading is buying stocks and then selling it very shortly after (minutes to hours) instead of holding on
I didn't get that part of his argument. Maybe you can enlighten me. How is it bad to pick (many) single stocks? In this case, you would be the monkey picking randomly. You can even follow his advice and never have more than 10% in a single stock. So let's say, you invest in 20 different companies long term. You might even outperform some experts (just as in the study with monkeys).
I own 300 shares, my cousin got 200, my girlfriend got 400 and my girlfriend's lover got 600. 🚀🚀🚀 2 the moon.
Wait what? Ahahaha
Sorry about your loss. I hope you learned there's no such thing as a get rich quick scheme.
Ripperono in pepperoni, hopefully you all sold them
I lost everything I own due to gambling and I have made a promise to myself never to allow myself to gamble again.
lol
Glad you were able to turn it around man, good on you! Learning from hard experience sucks, but good luck going forward!
C’mon just one more time......it’ll be fun....just one more time.
Well done. Stay away from gambling
I’m 27 and for the first time this year I bought a lotto ticket and my husband bought 2 scratchers to celebrate my first time gambling. 😂
I didn’t win the lotto but I did win $20 on a scratcher.
I don’t know how people enjoy gambling. I felt like I was doing something bad. Even with the win of $20. I was glad we won our money back so it’s kinda like it never happened. LOL
Bunch of covetous, greedy rich people that can’t bare regular people like us exhibiting the same behaviors as them...
That attitude ain't just sad - it's poor and sad.
His daughter mentioned AMC going crazy.. she's secretly invested. TO THE MOON!
Gamestop is like Blockbuster... soon to be gone. It was a temporary gain
Obviously. Nobody thinks this is a long-term deal.
@@HermannTheGreat - Good luck with that
Not really, they will change their business model with the fresh reserves.
Or they pivot like NFLX did, and become a new force in gaming.
I'll be back in 3 years to laugh at you
Remember you have to pay taxes on this, that’s going to drain most of the remaining money once you pay off your debt. Talk to an accountant.
It’s the “these Reddit people are fun” for me and the resentment in his voice. You offered more judgment than anything.
Let's see if the reddit crowd can repeat this over and over for 26 years? Highly doubtful. Daves plan works for ever
@@MilesCobbett deepfuckingvalue has Dave’s net worth just off GME. And Dave’s net worth is mostly in real estate which isn’t diversified enough. He’s just too traumatized from bankruptcy take ANY chances.