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Armstrong & Getty One More Thing

Intellectualizing in Circles

Armstrong & Getty One More Thing

Armstrong & Getty

News

4.8815 Ratings

🗓️ 1 February 2021

⏱️ 15 minutes

🧾️ Download transcript

Summary

Some smart talk about stuff, and we listen...and then talk about it.

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Transcript

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0:00.0

Smart people talking about one of the interesting stories of our lifetimes.

0:03.2

It's one more thing.

0:04.8

Armstrong and Getty.

0:06.4

One more thing.

0:11.6

You know, it's probably a mistake that on February 1st, 2021, we did not mention at all the whole GameStop story.

0:20.1

What is going on with the stock today?

0:21.5

I haven't looked at it.

0:22.2

Has anybody?

0:23.5

Relatively muted and I think down decently earlier today.

0:27.9

I don't know what the latest was.

0:29.9

It's down about 25% today, yeah.

0:31.9

And I saw some headline that Robin Hood is still restricting some stuff.

0:36.3

Yes.

0:37.5

So. Yeah. So.

0:39.0

Yeah.

0:39.6

Just for update on my current opinions, I feel like it's, it's less likely that shady, quote, unquote, backroom phone calls were made.

0:49.0

And it's more about a fundamental lack of scale in their business model where they just, they just couldn't

0:55.7

handle it. They couldn't afford to keep processing trades they were. Now, whether or not that

1:02.7

bill was called in because of my aforementioned shady backroom phone call, I don't know. I think

1:08.0

the time will tell as investigations go forward. But as I was diving in this

1:13.3

past weekend to try to learn more about it, I stumbled, I discovered a podcast that featured

1:19.3

Chamath Palapitaya. Again, I hope I'm pronouncing that correctly. The guy looking to possibly

...

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