Unhedged
Well, actually: Our ‘Dumb Money’ movie review
Sep 21, 2023
Seth Rogen and America Ferrera discuss the movie 'Dumb Money' and its portrayal of finance concepts. They question the accuracy of the narrative and talk about the impact on retail traders. The podcast also mentions meme stocks, a movie recommendation, and opinions on Jay Powell and auto workers.
21:15
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Podcast summary created with Snipd AI
Quick takeaways
- Retail stock trading offers tight bid-ask spreads and low trading fees, benefiting retail traders despite criticisms of payment for order flow.
- The portrayal in the movie of the trading freeze during the GameStop phenomenon as collusion between Robinhood and Citadel does not align with the known market structure reasons for the freeze, which were due to clearing house demands for additional safety money.
Deep dives
Payment for order flow and its portrayal in the movie
The movie portrays payment for order flow with a shadowy connotation, reflecting the attitudes of the Reddit crowd during the GameStop phenomenon. While it can be criticized or defended as a system, it's important to note that retail stock trading has never been better in terms of tight bid-ask spreads and low trading fees. Retail traders, though they may have some complaints, still benefit from highly efficient and low-cost trading.
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