diamond hands

Tune in to hear:

- What in particular about the environment, including the pandemic and lockdown, contributed to the sort of fervor and madness we saw around meme stocks like Gamestop?

- Risk, excitement and novelty were somewhat systematically stripped from our lives during the initial quarantine - what role, if any, did this play in the meme stock phenomenon?

- How did the trading apps themselves, and the gamification of trading, catalyze some of these behaviors?

- Who is Keith Gill and how did he become so central to this movement?

- How central to the phenomenon of Wall Street Bets was the moral dimension of “sticking it to the man?”

- Many of these meme stocks are still soaring greatly above where they were 2-3 years ago, and yet Spencer thinks that this “revolution” is bound to fail. Why does he think this is the case?

- Will the phenomenon of "Finfluencers" continue or will further regulation and other obstacles put an end to this?

- Did many financial professionals use the Wall Street Bets phenomenon as a sort of Trojan Horse to benefit themselves?

Twitter @spencerjakab

https://spencerjakab.com/

Compliance Code: 0158-OAS-1/25/2022

Is picking individual stocks a good investment strategy? 

Yes, if you like not being compensated for a lot of risk…No, if you want to have an actual investment strategy. 

While a case could be made for individual stock selection 50 years ago, in today’s information age, any edge investors may have had decades ago has been eliminated. 

In this episode, Erik, Justin, and Brandon highlight the fallacies around having “diamond hands,” and being able to consistently pick the best performing stocks. 

EPISODE HIGHLIGHTS 

• 1:02: The news you should know: El Salvador now recognizes Bitcoin as legal tender, but Bitcoin has not performed as well as expected since then.
• 02:25: Markets have been a bit rocky as many investors get cautious around additional market highs. The surge in the Delta variant could also be priced into investor hesitation.
• 03:02: It’s not out of the ordinary for markets to see corrections – it’s actually healthy. What is abnormal is perpetual all-time highs.
• 04:28: It’s still commonplace for investors to pursue finding the best individual companies to invest in. Wall Street has made a killing off selling which company stock is “hot.”
• 05:25: While individual stock selection has cemented itself as the default investment strategy for most investors, it is a horrible strategy when looking at the risk you’re taking.
• 06:16: Individual stock selection was easier 50 years ago when investors could gain an edge by digging through financial statements that were not as easily available to all participants.
• 08:40: Everyone wants to pick a home run, and the lottery fallacy says that if I get one selection right, I’ll be compensated for the losses I incurred waiting on my “home-run pitch.”
• 12:28: If I play the individual stock selection game, what I’m really saying is I know something about this one company that no one else knows.
• 14:48: There’s no real information advantage in the public markets, but there is certainly an edge to be had in the private markets.
• 18:39: Even with private investments, we still need to stick to the fundamentals.
• 20:06: If we can’t predict the future, then having a strategy that’s not predicated on predicting the future (individual stock selection) is essential. I have to be confident in my decision-making philosophy and stick to it. 

You've defeinitely heard of meme stocks. They're everywhere.
Even if you know absolutely nothing about investing, I'm sure you've heard something about Gamestop and AMC in the past few months.

The landscape of investing is changing, but should you buy into it?

As always, you can find more here on Instagram @thefinancediaries and on TikTok @thefinancediaries

John and the gang come back from their visit with the doctor to explain what all of the new acronyms coming are all about. Part of a good financial health is being aware of the changing markets and evolving as the market evolves.

We want to know more about your situations so we can create better tailored content. John and the team can be reached at jcindia@lifestagesadvisory.com. Reach out to us so we can get you or your segment featured on the show!

Part 2 of Josh's recap of the GameStop fiasco, etc.

Sean Whittaker and Ben Williams trade stonks and owe me money. GME, PLTR, BB, NOK, AMC ... to the mooooooooon. This is the story of two retail traders who are surviving the stock market despite the odds.

We're back and we missed you so much! We throw the tea on why we haven't been around in 2 months, along with the recent things that happened during our time away. Raggedy hillbillies causing a ruckus? Check. Gamestop, dogecoin and others to the moon? Duh.  BY-YOOM? Naturally. Nothing can stop us and our drive to spill on all the things. Let's laugh together and enjoy!

You can find our links here: https://linktr.ee/siblingsspillingtea

Reddit er den moderne atombombe, Mikkjal forstår aktier (måske), og Martin er “Um, actually…”-agtig når det kommer til superheltetegneserier. DSM elsker tangenter og sidespor, og begge dele er på menuen i afsnit 8!

Addendum: Den serie Mikkjal ikke kan huske hvad hedder, og som ikke hedder Tropic Thunder, hedder Thunder in Paradise.