what to buy. Calls are derivatives that give the buyer the right to purchase a stock at a set price. The trader makes money when the stock rises above the strike price.
GameStop stock opened Wednesday at $354 per share, up more than 1,550% this year alone.on Wednesday, Palihapitiya said, "I ended up closing out my position this morning, and I wanted to announce that I'm taking all the profits that I made plus my original position — I'm going to take $500,000 and I'm going to donate it."
Shut the fuck up. You guys got burned on ONE stock and look at what you're doing. Scared of retail trading bc if word gets out regular ass people can manage their money on the stock market better than these guys like you, you'll lose all control have over the economy/politics.
Blah, blah, blah.
It's all fun when you talk to the people who make millions turning the stock market into a casino. Talk to the people who lost everything. The winners didn't beat the bank. They looted people's retirement accounts. Legally of course.
so the pro’s sway stocks!!
This is chamath
Extremely irresponsible quote. Countries in emerging markets can tell you a lot about swaying markets based on misinformation and pyramid or momentum buying and selling. It’s quite destructive overall
Awesome! Now lets run $AMC and $BLIAQ
Yo! Go Chamath! Chamath for Cali Governor! Lets all vote!
He is a HERO!!!!
Scott, I believe you just help elect the next Governor of California.
Great interview Chamath, thanks for standing up for the little guy lol, rob from the rich and give to the poor :-)
He’s 100% correct. My investments crushed the market over the last 5 years. Why would I think anyone can manage my money better than I can? That being said let’s stop 150% shorting of the float.
I agree with his sentiment about retail investors on Redditt steeling the hedge fund scheme. Somehow though, in the end, I suspect the 'experts' will get the upper hand. But it has certainly been interesting to watch! Much potential for problems to arise, IMO. But so be it.
On CNBC, chamath points out many investors became disillusioned by the 2008 recession: 'They've always wondered like why did those [banks] get bailed out for taking enormous amounts of risk? And nobody showed up to help my family.'
How is this legal for a fund manager to say and do? Who is the regulator for his fund?
Scott is in over his head. You lost the intellectual debate, the logical debate. Scott, your a journalist at the end of the day. You really dont know
He showing up to CNBC News all the time . Will be good for his stocks. Big money coming to his pockets . Yupp..... Pay for CNBC a bit , and collect big bucks Back . Really smart guy. 👍
Chamath schooled Scott!!!
FK HEDGE FUNDS and FK WALL STREET.
$GME over $300 makes just as much sense as $SNOW at $429. The former is probably even a better value at that price. The only difference is that $SNOW was pumped up by the usual suspects and $GME by retail investors. This is why they’re mad.
Lie
Cannot argue against that.. chamath is 100% right. This vilification of retail by media ( especially cnbc) and Wall Street establishment is absurd
Meanwhile, hedge funds sway CNBC like their lil 🦮. Woof woof
Headline should be: CNBC DED.
Chamath about to get labeled a paper handed grifter.
Great job , am glad to see that you guys step up
Scott sounds clueless!
Good man.
He is darn right !
That Scott guy seems like a jerk. He put me off.
This is not even the full interview. Post the whole thing.
Wapner on life support after that
Scott seems like a Karen to me.
Scott’s buddies
Chamath is the man. Fuck the boomers at CNBC