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 by Spencer Jakab
English | January 27, 2022 | ISBN: 024157255X | 296 pages | PDF | 4.31 Mb
English | January 27, 2022 | ISBN: 024157255X | 296 pages | PDF | 4.31 Mb
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.
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