James Mackintosh
speaker
379 appearances
7 recordings
1 series
first heard Nov 2017
last heard Nov 2024
James Mackintosh’s voice in public audio — every appearance, attributed to the second.
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Appearances
I mean, that's, again, what makes things a bubble.
If you buy it knowing that the stock is already overpriced, but you're expecting that because other people are going to come in and buy it because they read about it on Wall Street Bets or because they read about the rapid rises in the press and they feel they've got to have something, that's
you know, that's your hope that you'll be able to buy it now and sell it in three days for 30% more or sell it tomorrow for 50% more or something.
These are the sorts of moves we've been getting.
If that's why you're buying it, that's classic bubble behavior.
Yeah, FOMO is the, you know, the classic modern way of putting it, but this has been the case for every bubble in history.
This is the sort of behavior.
That's why I think this is
I mean, in some ways, it's the platonic ideal of a bubble.
It's perfect.
It's a bubble in microcosm.
It just captures the essence of all past bubbles compressed into 10 days.
That's the extraordinary thing about it.
Well, it depends if they're still in there.
So there are clearly some people, there will be some, I mean, there's been vast turnover in this stock.
There are a lot of people buying, but there's an exactly equal number of people selling.
So some people will have made a ton of money here because they bought it.
10 days ago or three months ago, and they sold yesterday, or indeed sold today.
It's still hugely up from where it was a while ago.
On the other hand, anyone who's been buying in the last 24 hours, if they keep hold of it, as they're encouraged to by Wall Street bets, and the stock, they hold it all the way back down, they're looking at gigantic losses.
Showing 121–140 of 379 · page 7 of 19
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