Right off the bat, if one wished to know the story of what really happened in the last few days with the GameStop stock, it is hard to beat the article that Matt Levine wrote. It is a great lesson in writing, simplifying concepts for a non-technical audience, keeping them engrossed and conveying the story, moving it along logically and cogently, etc. Read that, if you have not.
Now, we will come to the different lens that people have chosen to view the developments. That is as fascinating as the movie itself. There are multiple ‘Rashomon’s (‘Virumaandi’ in Tamil, produced and led by Kamal Hasan) playing out.
First, there is the article by people who believe in the value and information content that short-sellers bring to the market. I am one of those people. In that sense, what Melvin Capital was doing was not exactly a typical hedge fund does:…
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I almost bought some GS stock several months ago.
Sad I didn’t…
But you know, money isn’t everything.
Bad luck. 😏
At this point in ‘the game’ I’d be getting out any way.
I hope all those stock holders are ready… it’s not going to last long.
I would too. They’ve made their point so why shouldn’t they collect their reward? The chance won’t come again.