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#159 – Richard Craib: WallStreetBets, Numerai, and the Future of Stock Trading
Lex Fridman Podcast
The Stock Market Equivalent of Haters
Hedge funds can't sustain holding a big short position in a company. If the stock doubles overnight, like GameStop did, you're putting a lot of stress on that hedge fund. The only way to get out is to buy the bad stock that they believe will go down. It's an interesting situation, particularly because it's not zero sum. Some Redditors will make a lot of money, some will lose a lot. But actually, the whole group will make money.
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