GME and Why We Love It

February 3, 2021

The last week or so has been filled with news about GameStop stock. For those out of the know or reading several years later, a group of investors on Reddit all bought GameStop realizing that the short position outstanding was greater than the shares available.

This meant that by buying shares the hedge funds shorting the position would have to cover their margin and buy back the stock. Which would inevitably push the price up. It was a bit David and Goliath along with healthy profits of people taking their stimulus checks and 10x them. A perfect combination for a media sensation.

Stock market plays, cryptocurrency, etc. People love these stories because it represents a fantasy we want to see play out. Just by spending a few dollars we could be worth millions. It's a narrative that is well marketed.

  • Learn my stock chart trading secrets to become a millionaire in a few short weeks
  • Buy this product that could 200x in value in the next 3 months
  • For just three easy payments of $200 learn the secrets to millionaire real estate wealth

We love it. I loved it. I remember thinking that if I just put in a little leg work I would be a millionaire. The truth is that it took about 10 years of putting one foot in front of the other. I constantly educated myself, found and learned from mentors, worked a side hustle and job, etc. I was always moving forward, but often the money wasn't following.

As Seth Godin says, "If the short cuts worked they would just be the way."

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