The GameStop Revolution, One Year Later — with Spencer Jakab
Afford Anything | Make Smart Money Choices
Paula Pant | Cumulus Podcast Network
4.7 • 3.6K Ratings
🗓️ 26 January 2022
⏱️ 73 minutes
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Summary
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| 0:00.0 | You can afford anything but not everything. |
| 0:11.0 | Every choice is a trade-off against something else and that doesn't just apply to your money. |
| 0:15.2 | That applies to any limited resource you need to manage. |
| 0:17.9 | Like your time, your focus, your energy, your attention, saying yes to something implicitly |
| 0:22.9 | means, saying no to all other options and that is terrifying and it opens up to questions. |
| 0:29.4 | First, what matters most? |
| 0:31.6 | Second, how do you align your choices around that which matters most? |
| 0:37.2 | Answering these two questions is a lifetime practice and that's what this podcast is here |
| 0:42.7 | to help you facilitate. |
| 0:44.3 | My name is Paula Pant, I am the host of the Afford Anything Podcast and this week marks |
| 0:49.7 | the one-year anniversary of the Reddit Take Down of Wall Street. |
| 0:54.8 | I'm using that phrase a little tongue in cheeky, you'll hear about it in the upcoming interview, |
| 0:59.5 | but you remember a year ago when a bunch of people in a subreddit called Wall Street |
| 1:05.5 | Bets decided to pile into a bunch of meme stocks, most notably GameStop but also AMC |
| 1:11.4 | theaters, Nokia, Blackberry and a few others, they decided to all pile into these meme stocks, |
| 1:19.4 | drive up the prices and squeeze out the short sellers which were these major hedge funds |
| 1:26.0 | that had taken short positions, meaning they made money if the stock went down. |
| 1:31.6 | It was heralded as the triumph of the average investor, meaning some 25-year-old and his |
| 1:38.5 | mom's basement, over the hedge funds who long have marshalled their data, their research, |
| 1:46.8 | their troves of information to be able to know things that the rest of us don't. |
| 1:53.9 | And so in the standoff between individual investors versus institutional investors, |
| 2:00.2 | i.e. |
... |
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