Beret (Bourree) Lam

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435 appearances 6 recordings 1 series first heard Apr 2020 last heard Jan 2024

Beret (Bourree) Lam’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · GameStop: What to Know Before Jumping In · 2 Feb 2021 podcast

And so when sentiment changes, there will be less people who will want to buy.

So it's a bad assumption to assume that when the stock hits a thousand, there will still be tons of people who will want to buy GameStop stock.

If you assume that, then you could think about this everybody winning situation, but that is just not true, that there'll be an equal number of sellers versus buyers in that kind of situation.

And another thing to think about is the technical part of this, right?

Robinhood, last week when a lot of volatility was going on, they had restricted trading of specifically these hot stocks.

You know, for a day there, they were saying you can only close your position.

You can't buy more.

And so if the trading platforms also make a move, if GameStop ever hits a thousand, then there are just lots of problems to think about.

The greater fool theory is there's somebody out there who's a greater fool than me and sort of like late to the party, so to speak.

So if I have GameStop stock and I know it's going down, I will be able to offload it to the greater fool.

And so that's the same as what I just went through in terms of assuming there will always be a buyer when you want to sell.

It's very, very optimistic, to say the least.

So options is a cheap way to bet on a company.

It gives you the right to buy shares at some price that's much higher than the current price at some point in the future.

And so options are cheaper because they're unlikely to pay off.

But that's also the way a lot of people have been betting on GameStop.

The risk with options is that you could lose everything.

Unlike buying a stock, an options contract can just be completely worthless.

Whereas if you think about GameStop at the beginning of this year, they started at $18, $19 a share.

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