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Lessons from Gamestop
By Growing your tree of prosperity  •  January 29, 2021
Quite a lot has happened over the past few days. If you've been living under a rock, here's what happened in a nutshell : Hedge fund short-sellers over-extended themselves when they oversold Gamestop (GME). This was flagged by retail investors who decided to take collective action to punish these large speculators, so thousands of retail investors decided to buy the GME counter knowing that short-sellers would eventually have to buy back the stock. As they pushed the stock value, the hedge fund investors started to lose money as they unwound their positions. What happened next was really unfair to Main Street, the major players, massively butt hurt by GME rally,  managed to convince brokerages like Robinhood to prevent further purchases from retail investors. Angry retail investors decided to take Robinhood to court. At this moment, we are probably not seeing the end of the story because this episode was framed as an instance of class...
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By Growing your tree of prosperity
I have recently completed my Juris Doctor and I am waiting to be called by the Singapore Bar. For the past 15 years I was an IT manager and I have worked in multinationals, financial exchanges, trade unions and even a government agency. I started my career as an AS/400 administrator and moved on to manage IT projects and operations
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