The boys drink and review RAR’s Groove City Hefeweizen, then review short selling, the Gamestop story, Sam Bankman-Fried, and FTX.
After watching the Netflix “Eat the Rich” series, the boys remembered their interest in the Gamestop story, so they consulted their financially intelligent friends, Hansel and Gretel, to get up to speed on what happened and why.
It’s a fascinating story where “retail investors” who frequented the “Wallstreetbets” Reddit group stuck it to the institutional investors and caught them in a short squeeze.
The retail investors sent the stock rocketing up, which was putting the institutional investors in a bind, then Robinhood — the platform most of the retail investors used — shut down all purchases of Gamestop.
The story makes you believe the system is rigged for the benefit of the big, instutional investors.
Along the same lines, the boys discuss the Sam Bankman-Fried story, and how he fooled the world with his phony empire built on pretend money.
Be First to Comment