Young people who didn't experience the recession of two thousand eight two thousand, or if they did experienced a massive, long running recovery. Young traders were learning what to do by going on social mediam tik to tube. The stock market lost a third of its value in just 20 weeks. It was one of the quickest descent from all time high to bear market ever. But it also had the quickest recovery,. by orders of magnitude - you made your money back by august.
#361: Wall Street Journal columnist Spencer Jakab marks the one-year anniversary of that weird time when the subReddit Wall St Bets pumped shares of meme stocks like GameStop and AMC Theaters, triggering a short squeeze that forced several hedge funds to lose billions.
What did we learn from that experience? And how do we actually take down Wall Street? How do we launch a truly effective financial revolution?
We share those insights in today’s episode.
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