Is the Bitcoin Game about to Stop? – Ep 649
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 26 January 2021
⏱️ 49 minutes
🧾️ Download transcript
Summary
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Big gains in the most heavily shorted stocks like Game Stop.
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Robinhood traders buying Game Stop think they’re smarter than the hedge funds shorting it.
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Markets can stay irrational longer than you can stay solvent.
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In the short-run, stocks are a voting machine. In the long-run, stocks are a weighing machine.
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Price is what you pay. Value is what you get.
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When it comes to bubbles, the markets first bankrupt everyone who bet against them, and then bankrupts everyone who bet on them.
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Premium for Grayscale Bitcoin Trust is collapsing along with the demand.
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If you’re at the poker table and you don’t know who the patsy is, it’s you.
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Transcript
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| 0:00.0 | I'd like to thank Indeed for supporting the Peter Shif Show podcast if you're using |
| 0:14.0 | anything other than Indeed for your hiring you are wasting your time. |
| 0:19.0 | Higher great people faster with Indeed. |
| 0:21.2 | Get started right now with a free $75 credit to upgrade your job post at Indeed.com slash |
| 0:28.6 | Peter. |
| 0:29.6 | This offers valid through March 31st terms and conditions apply. |
| 0:34.7 | Well, if you just looked at the closes you wouldn't think much was happening in the stock |
| 0:40.6 | markets today. |
| 0:42.0 | All of the indexes close with modest gains or marginal losses. |
| 0:47.1 | But beneath the surface in today there was a lot of volatility going on. |
| 0:51.7 | We did see the energy stocks which had been doing well recently. |
| 0:56.9 | They got hit. |
| 0:58.1 | The automakers got hit pretty hard. |
| 1:00.2 | These stocks have been on a tear lately. |
| 1:02.0 | They've been making 52 e-chies. |
| 1:04.5 | They got hit. |
| 1:05.7 | But the real action was to the upside mostly but somewhat to the downside. |
| 1:12.5 | But the big gains in the most heavily shorted stocks. |
| 1:18.1 | So these are the stocks where you have a lot of short interest meaning that investors |
| 1:23.8 | have sold these stocks short. |
| 1:25.6 | They sold the stocks. |
| 1:26.6 | They don't own them. |
... |
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