Sunday, February 07, 2021

Matt Taibbi on GameStop

 "This is for You Dad": Matt Taibbi's interview with an anonymous GameStop investor. Well worth your time. 

It really does feel as though CNBC is a participant in market manipulation for the rich. These hedge fund guys go on air and it's like they're trying to spook the herd in the direction of their trades. They tell everyone to get out when they're short, and once all the meat is off the bone, they go long, just in time for the recovery. They get to call the top and the bottom of the market. It's totally fucked.

The bailout and the pandemic just exposed how there are different sets of rules, not just for different types of investors,but for different types of businesses. Your favorite sandwich shop? Closed. If you've got 200 of those sandwich shops? Open.

The sentiment behind the GameStop situation is not going away. And GameStop stock as I type this is at $63.77 a share. Seems like many are still holding the line. 

Matt Taibi has a follow-up article to the above and it is also well worth your time.

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