GameStop, Citadel, And The Fleecing Of Small Investors | Spencer Jakab
Spencer Jakab, editor of Heard On The Street for The Wall Street Journal, joins Forward Guidance to share what he learned writing his latest book, \u201cThe Revolution That Wasn't: GameStop, Reddit, and the Fleecing of Small Investors.\u201d Jakab and Farley discuss meme-stock mania in all its aspects: the outwitting of hedge funds by individual investors, the transformation of r/WSB from a trading club to a \u201cmovement,\u201d the shameless promotion by influencers, and the tallying of who ultimately got rich. Filmed on September 19, 2023.\n\nSpencer\u2019s book: https://www.penguinrandomhouse.com/books/690543/the-revolution-that-wasnt-by-spencer-jakab/\nSpencer\u2019s book on Amazon: https://www.amazon.com/Revolution-That-Wasnt-GameStop-Investors/dp/0593421159\n\nFollow Spencer Jakab on Twitter https://twitter.com/Spencerjakab\nFollow Jack Farley on Twitter https://twitter.com/JackFarley96\nFollow Forward Guidance on Twitter https://twitter.com/ForwardGuidance\nFollow Blockworks on Twitter https://twitter.com/Blockworks_\n\nTimecodes:\n(00:23) Fleecing Of Small Investors\n(16:40) Problems At The Clearinghouse\n(31:13) Gamma Squeezes via Out-of-the-Money Short-Dated Call Options\n(38:19) Who Was Still Short?\n(51:02) The r/wsb Strategy Become A Movement\n(56:28) The Influencers: Dave Portnoy, Chamath Palihapitiya, and Jack Farley\n(01:06:10) The Theories Of Conspiracy\n(01:13:44) How To Beat Wall Street (Actually)\n-- Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.