Don Ameche, Eddie Murphy and Ralph Bellamy star in “Trading Places”.
Source: Mediapunch / Shutterstock
Source: Mediapunch / Shutterstock
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Like many parents today, Cameron Crisis is dealing with a teenager at home who wants to enter the day market and reap the kind of unexpected gains touted by the WallStreetBets crowd.
Crisis, a former hedge fund broker and now a Bloomberg strategist who writes the column “Macro Man”, had a new way of dealing with the situation. Inspired by the classic movie “Trading Places”, he proposed a $ 1 bet in the direction that GameStop shares were headed and another bet that his son Patrick would not double his money in three days with some Reddit-inspired paper trades who did not actually earn money from their son – or more importantly, their father – at risk in the market.
Who won this battle of Macro Man vs. YOLO Boy? Tune in to the latest episode of the “What Goes Up” podcast to find out. The older Crisis also discusses whether macro-oriented assets may be susceptible to Reddit’s treatment, and the younger Crisis shares his insights as an avid reader of WallStreetBets, as well as the lessons learned against his veteran merchant father. Also an invitation for listeners to share their recommendations for old movies on the podcast hotline (call us 646-324-3490) so that Sarah can finally understand whatever Mike is chattering this time around.
Mentioned in this podcast:
‘Hype Machine’ from the Reddit market is on a quest to drive out robots
Meme shares lose $ 167 billion when Reddit crowd preaches challenge