816 - What the H&LL happened to the Meme Stock Squeeze? With Spencer Jakab

The James Altucher Show

James Altucher

Education, Business

4.6 • 2.7K Ratings

🗓️ 27 January 2022

⏱️ 79 minutes

🔗️ Recording | iTunes | RSS

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Summary

In 2021, it's all about Covid, and then Gamestop Stock. Everywhere you go (or can't go), people are talking about Gamestop, AMC, Meme Stock, Wall Street bet, and Reddit!So, what happened? As I mentioned in the podcast, it's not that easy to short a stock, and sure as hell, it's not easy to pull off what Reddit had pulled off on Gamestop!Spencer Jakab, an award-winning financial journalist and a former top-rated stock analyst at Credit Suisse, came on to talk about his new book, The Revolution That Wasn't: GameStop, Reddit, and the Fleecing of Small Investors, and to share with us, what was going on behind the scene that made all this possible?Listen to the full episode, and tweet at me @jaltucher on tweeter to share your thought!My new book Skip The Line is out! Make sure you get a copy wherever you get your new book!Join You Should Run For President 2.0 Facebook Group, and we discuss why should run for president.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast.Thanks so much for listening! If you like this episode, please subscribe to "The James Altucher Show" and rate and review wherever you get your podcasts:Apple PodcastsStitcheriHeart RadioSpotify Follow me on Social Media:YouTubeTwitterFacebook ------------What do YOU think of the show? Head to JamesAltucherShow.com/listeners and fill out a short survey that will help us better tailor the podcast to our audience!Are you interested in getting direct answers from James about your question on a podcast? Go to JamesAltucherShow.com/AskAltucher and send in your questions to be answered on the air!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book, Skip the Line, is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltuchershow.com------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe to "The James Altucher Show" wherever you get your podcasts: Apple PodcastsiHeart RadioSpotifyFollow me on social media:YouTubeTwitterFacebookLinkedIn See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	This isn't your average business podcast and he's not your average host.
0:06.8	This is the James Altiger Show.
0:12.8	Today on the James Altiger Show.
0:16.6	What the hell happened with GameStop and AMC?
0:19.9	Had it some little tiny reddit bulletin board, manipulate those stocks from 4 to almost 400
0:27.9	or whatever they were.
0:28.9	I mean, people became millionaires overnight.
0:31.3	Well, Spencer Jacob did a deep dive into how this happened and wrote a book about it,
0:37.5	the revolution that wasn't.
0:39.0	So let's hear what happened.
0:40.4	And can this happen again to other stocks like GameStop?
0:43.6	There's objective truth still in poker and there's not objective truth in stocks.
0:59.1	Meaning I could make all the right moves and I should win by some calculation, but I might
1:06.5	not.
1:07.5	Whereas poker, you can make all the right moves and still lose, but you're fine.
1:09.8	Over the long term, if you make all the right moves, you'll do fine.
1:12.7	And chess, of course, the same thing.
1:15.0	But my attraction to day trading back in 2000 when I started day trading and then in hedge
1:21.2	funds and so on was because I love the game like aspects of it.
1:25.8	And it's only a little later I realized how screwed up Wall Street is.
1:29.7	It's just basically a bunch of scumbags and illegal activity for the most part.
1:35.4	Well, to some extent.
	...

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