E113: How to Build Generational Wealth in Crazy GameStop Times
Dollars and Nonsense · Living Wealth
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Show Notes
In this episode, we discuss what we can all learn about the right ways and the wrong ways to build sustainable wealth in light of the recent GameStop fiasco.
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The GameStop stock price has been on a tear, going wild for the past couple of weeks, increasing value by orders of magnitude. It was all based on a Reddit forum, essentially seeing that the Wall Street gurus were all shorting GameStop. They were shorting it because they thought that GameStop would lose a bunch of value. The company was experiencing a challenging time navigating as a business due to the results of the pandemic. GameStop is a video game retail outlet that mainly lives in malls, a type of retail outlet walloped by the pandemic.
We share our thoughts on the big takeaways from the events.
Topics Discussed:
- The backstory on GameStop, the short-sellers, and Reddit
- What made main street investors deeply want to stick it to Wallstreet
- Exploring what strategies build sustainable wealth and those that don't
- Understanding what examining if a firm produces real value for the market and why that's important
- How to know when you're gambling vs. investing
Episode Resources:
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* Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/