Core Stock Allocation
Total Portfolio Allocation
Transaction Summary for January 2021
- Bought VanEck Vectors Semiconductor ETF, SMH
This week, we witnessed the best financial drama unfolding as r/wallstreetbets took on the institutional hedge funds. For the first time we are seeing such a large scale coordinated rally over a stock, wanting to send a message to those financial bankers who have been profiteering from the retail investors for the longest time ever.
The drama pretty much started after retail investor realized that the GameStop (GME) stock is so over shorted by hedge funds that all the free float shares in the market will not be sufficient to cover all the short positions. When one of the hedge funds company, Melvin Capital started to short the meme stocks, GME, this incurred the wrath of the retail investor. This was a declaration of war, and people then started calling on social media to buy up all the GME shares, resulting in what is called a short squeeze...