HOLLYWOOD STOCK EXCHANGE
THE ENTERTAINMENT MARKET
THE ENTERTAINMENT MARKET
short version: two players who have been inactive for years long version inside
BBUST was 'disbanded' (HSX has chosen never to reIPO this fund) because the nature of the fund unintentionally turned into coordinated trading.
BBUST stocks are all high profile and are the most widely held. The managers of BBUST would make a flip and then players would see that the fund had flipped a stock and would blindly make the same trade (which would cause the price to move) because the managers were viewed as knowing alot about BBUST stocks, then since most players were holding that stock (cause its a BBUST) they would make trades based on the price movement.
Eventually, there were wild price swings happening each day simply because the BBUST Fund had made a trade (and many players mimic-ed the trades). It got to the point where a number of players were constantly checking on the BBUST holdings so they could mimic the fund's trades (it got to a point where it was well known among active players that the only way to make big money was to monitor the BBUST Fund).
Many casual players got upset because a movie like The Dark Knight Rises would go down 5-10pts simply because BBUST flipped it short... then the next day the same stock would go up 5-10pts because BBUST flipped it long.
HSX eventually requested that the managers of BBUST cease daytrading and take more of a long term investment strategy (which they complied with).
When BBUST was finally delisted, HSX made it known that BBUST would not be re IPOed.
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"The latest round of complaints about BBUST fund trading inspired me to add keyword filtering." (link)
"[The HSX Dude purposely does not comment on the Moviestock IPOs because those are not mathmatically based and any commentary that The HSX Dude provides could be misused or misread, or could even result in manipulation or call to action senarios (similar to the Blockbuster Fund,etc).]" (link)
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"Wasn't it the Blockbuster fund that caused such a ruckus, when DMac was concerned they were affecting the market? -- nm
-- MojaveMeg (aka Mojave)"
"yeah, they tag teamed, were great Day Traders, but often what they bought, a ton of players would copy, so they could do any random buy and it would - zeitgeist"
(link)
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Hey who was it that used to run BBUST fund? {nm} May 12, 14:49
short version: two players who have been inactive for years long version inside May 12, 19:36
Thank you for going through the trouble of the long version. {nm} May 13, 02:43
TOLKN is managed by a former BBUST manager. {nm} May 15, 10:57
Ah, Moghul. {nm} May 15, 17:28
Very interesting story, thanks RH. {nm} May 16, 19:36
What abotu the ADJUST fund? Is it coming back? {nm} May 15, 11:56
You ever think of making that "a" an uppercase "A"? {nm} May 15, 17:29
technically, 'arf' should be 'ARF' since it is an abbreviation {nm} May 15, 18:12
technically it's an acronym, but I see your point. {nm} May 16, 05:55
I always assumed it was onomatopoeia {nm} May 16, 22:53
Hey Jane, Would it be possible to join your Aussie League again? {nm} May 21, 18:01