[SPECIAL] GameStop: Stocks Gone Wild! Should You Join the Day Trading Craze? - 310a

Your Money, Your Wealth

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2.3 • 681 Ratings

🗓️ 29 January 2021

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week GameStop, AMC and Blackberry stocks went wild, with hedge funds shorting the stocks, and Redditors using the Robinhood investing app to put the squeeze on them - to the tune of billions of dollars. Is the stock market rigged? How do these investing plays affect you and your portfolio? Should you get in on the day-trading craze? Pure Financial Advisors’ Executive Vice President and Director of Research Brian Perry, CFP®, CFA® joins Joe Anderson, CFP® to talk about it. Access the transcript and financial resources, ask your money questions: https://bit.ly/YMYW-310a

“The markets can remain irrational longer than you can remain solvent.” - John Maynard Keynes, Economist

Transcript

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0:00.0	This is a special edition of Your Money, Your Wealth.
0:03.3	Stocks Gone Wild.
0:04.7	What's going on with GameStop?
0:06.4	I'm producer Andy Last, and here are Joe Anderson, CFP, and our special guest today, Brian Perry, CFP, CFA.
0:13.0	He's the Director of Research and Executive Vice President at Pure Financial Advisors.
0:17.9	A couple of minutes, just to chat about stocks going wild. This week in the stock market
0:25.0	has been something incredible that I don't think anyone saw coming or could predict or, you know,
0:35.2	even fathom what really is going on here. So Brian Perry is a lot smarter
0:41.7	than me in regards to the overall market. So I thought, Hume and I will chat just a little bit,
0:46.4	just to help you understand. I mean, there's a lot of news. There's a lot of headlines.
0:51.9	And some of the stuff is investment jargon that high level
0:56.8	investment professionals really don't understand. And so when you look at the average retail investor
1:02.1	getting some of this noise, we thought we would potentially kind of clear the, I guess, the static,
1:10.6	if you will. So, Brian, welcome to the show.
1:13.0	Yeah, thanks for, thanks for having me. Good to be here. So let's, in broad strokes,
1:18.4	tell me what the hell's going on. And then we can kind of get a little bit more granular as
1:22.4	we go here. Yeah. So it's interesting because usually when it's like, hey, Brian, come on
1:26.6	and let's talk about stocks going crazy. Usually it's the prices are collapsing, right, like back in the spring with COVID and stuff. And this is the exact opposite. What we're talking about is not so much the broader market, but a small handful of stocks, GameStop and AMC are pretty prominent there, just absolutely skyrocketing up. game stops up 80,000 percent or something
1:45.4	like that in the last nine months and just this year it's up massively.
1:51.3	It's it's I mean I think I don't know what it's true. And we're taping this folks on Friday.
1:57.2	Um, in the date today is the 29th of January, I believe, Andy? Correct.
2:01.2	Yes.
	...

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