Quotes
We're told that trillions of dollars' worth of crypto has been wiped out over the past year, but these losses are nowhere to be seen in the real economy – because the "wealth" that was wiped out by the crypto bubble's bursting never existed
Quotes
Short squeezes have a long history on Wall Street. In 1862, Cornelius Vanderbilt squeezed out short sellers in Harlem Railroad, and used his power to gain full control of the New York railroad business. * Musings on Markets: The Storming of the Bastille: The Reddit Crowd targets the Hedge Funds!
Quotes
First, are the Reddit revolutionaries new populists descended from the radicals of Occupy Wall Street? No. They’re basically a bunch of dudes upvoting memes with cash. Or, to be more generous, they represent an extremely online evolution of Big Finance itself, a kind of decentralized hedge fund duking it
Writing
On Thursday morning, Robinhood restricted purchases of GameStop and the other stocks, which had been driven to unusually high prices by coordinated activity on the r/WallStreetBets subreddit. The decision to restrict purchases provoked a significant backlash, and several congressional committees have already pledged to investigate Robinhood in the wake
Writing
So, you’ve probably heard about this GameStop stock thing by now. For me, it really just highlighted how little I know about the stock market and how it functions. After doing a little digging, though, what really struck me is how what we are seeing is a GamerGate-like exercise