Financial Nihilism - Understanding Meme Stocks & Crypto

Patrick Boyle On Finance

Patrick Boyle

Investing, Business

4.9 • 320 Ratings

🗓️ 15 June 2024

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

Send us a textDemetri Kofinas came up with the term Financial Nihilism in 2019, describing it as a philosophy that treats the objects of speculation as though they are all intrinsically worthless. Financial nihilism according to Demetri represents an ideological standpoint that questions the value and legitimacy of financial systems, markets, and even the concept of money itself. It doesn’t involve a simple disregard for fundamental reality but a contempt for all fundamentals. The point...

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0:53.5	Hello and welcome.
0:54.8	You are listening to Patrick Boyle on finance, a podcast exploring ideas from quantitative
1:00.4	finance, examining events occurring in markets right now and financial history to see
1:05.9	what lessons can be taken away, including interviews with some of the most interesting people
1:10.8	in the world
1:11.3	of finance. To learn more about the podcast, visit onfinance.org.
1:20.9	GameStop, everyone's favorite video game retailer and NFT marketplace, is back in the news
1:27.4	due to the re-emergence of Keith Gill,
1:30.2	known online as Roaring Kitty, whose reappearance on social media caused a huge rally in the stock.
1:37.3	The GameStop story captured the public imagination in 2021, as a David and Goliath story
1:43.8	where an online army of retail investors managed
1:47.1	to push the stock price so high and so fast that hedge funds betting against them not only
	...

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