The Revolution That Wasn't. How Gamestop And Reddit Made Wall Street Even Richer
The Revolution That Wasn't. How Gamestop And Reddit Made Wall Street Even Richer
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Author
Author
Spencer Jakab / Спенсер Якаб
Dimension
Dimension
162x240mm (6,4'x9,4')
ISBN
ISBN
9780241572559
Format
Format
Hardcover
Language
Language
English
Page Count
Page Count
320
Publisher
Publisher
Penguin
Year of book publication
Year of book publication
2022
The Revolution That Wasn't. How Gamestop And Reddit Made Wall Street Even Richer
During one crazy week in January 2021, a motley crew of retail traders on Reddit's r/wallstreetbets forum had seemingly done the impossible - they had brought some of the biggest, richest players on Wall Street to their knees. Their weapon was GameStop, a failing retailer whose shares briefly became the most-traded security on the planet and the subject of intense media coverage.
The Revolution That Wasn't is the riveting story of how the meme stock squeeze unfolded, and the real architects (and winners) of the GameStop rally. Drawing on his years as a stock analyst at a major bank, Jakab exposes technological and financial innovations like Robinhood as ploys to part investors from their money, within the larger story of evolving social and economic pressures. The surprising truth? What appeared to be a watershed moment - a revolution that stripped the ultra-powerful hedge funds of their market influence, placing power back in the hands of everyday investors only increased the chances of the house winning.
Online brokerages love to talk about empowerment and 'democratising finance' - while Wall Street thrives on chaos. In this nuanced analysis, Jakab shines a light on the often-misunderstood profit motives and financial
mechanisms to show how this so-called revolution is, on balance, good for Wall Street. But, Jakab argues, there really is a way for ordinary investors to beat the pros: by refusing to play their game.
SPECIFICATIONS:
Author:Spencer Jakab - Спенсер Якаб
Publisher:Penguin
Language:English
Publication Date:2022
Number of pages:320 pst
Format:Hardcover
Width:162 mm / 6,4'
Height:240 mm / 9,4'
Weight:555 g
ISBN:9780241572559