Welcome back to Weekend Insights, your LCI “President’s Corner” of miscellaneous articles, events, books, vids, and whatever else I’m thinking about…
A down-on-its-luck company that few cared about a few weeks ago, GameStop, completely blew up this week in the news. Hedge funds, who wanted to drive down the stock price into oblivion, had shorted so many shares that the “float” was well over 100%. That’s absolutely crazy over-leveraging. Savvy retail investors at Reddit recognized this fact and commenced a coordinated buying of so many shares (and not selling as the price rose) that a “short squeeze” is on the way, causing the hedgers to lose a LOT of money in the process. Hard to feel bad for the hedgers at all when it’s their own market manipulation along with the Federal Reserve that hurts so many others. Is this the wildest week for financial markets in history? For a taste of what’s being said out there…
- The Massive GameStop Short Squeeze Explained (Youtube)
- The GameStop rally is a lively party (FEE)
- Elizabeth Warren and the SEC Should Let the GameStop Lulz Go On (Reason)
- Is the Squeeze Squoze?
- Keith Gill Drove the GameStop Mania (WSJ)
Got conservative friends who were all fired up about “election fraud” and the end-of-the-world-as-we-know-it? Share this with them. It’s a great read with lots of sources to help understand the madness.
Alright, here are a few more links of interest to round out the week…
- Matt Kibbe talks about Democratic Socialism
- Fourteen Untranslateable Words and their origins
- Pew Research releases report on how the USA changed during the Trump years
You know what else is totally undervalued and in the marketplace RIGHT NOW? A nice little book called Faith Seeking Freedom! (You didn’t think I’d forget that, did you?)
Cheers, and have a great week!