GameStop: The Economics of Sad Hedge Funds | QuickTake

Feb 4, 2021
181 212 Views

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How was a humble subreddit able to bring Wall Street to its knees?
The recent stock market chaos surrounding GameStop has brought joy to just about everyone who isn't a billionaire. But what if the Gamestonks saga can actually reveal some fascinating truths about the way the stock market works? We'll explain in this Wisecrack QuickTake on GameStop: The Economics of Sad Hedge Funds.
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Written by Thomas Ambrosini
Hosted by Michael Burns
Directed by Michael Luxemburg
Editing by Mark Potts
Video Title Card by Amanda Murphy
Produced by Evan Yee

#gamestonks #gamestop #wisecrack
© 2021 Wisecrack / Omnia Media, Inc

Comments
  • What's been your favorite Gamestonks take?

    WisecrackWisecrack2 months ago
    • @Michael Adkins : You’re speaking about personal experiences. This video wasn’t expressing any opinions, except the humorous, personal take of the presenter. But, the facts they gave you were not, “biased.” That was just a bit of history, about how we got here. I don’t know anything about the Redditers myself. But, they got shafted for doing what the hedge funders do every day

      Ash RoskellAsh RoskellMonth ago
    • @Ian Clark : He died of Bear Spray inhalation. They have identified a suspect, who wears a maga-dunce cap. Was it you?

      Ash RoskellAsh RoskellMonth ago
    • @Money & Macro : Good comment, but you’re wasting it on a troll, who hates everything unless it’s trump. It’s no good explaining to him that these people short sell others every day, and the Redditers figured out a way to do the same thing to them, ensuring that it was only the very wealthy that took the hits; which is why they closed down the private club and had the Redditers tossed out in the first place. Try explaining that it was just a bunch of entitled 1%ers, who don’t like it when they get a little of their own medicine, and that they just revealed that they have the power to close down the Casino, just because the person winning today happens to be a stranger, not in their private club, and he won’t get it. Even if he gets it, he won’t get it, I’m afraid ✌️

      Ash RoskellAsh RoskellMonth ago
    • @Lucarioguild7 : Good point. If this debacle showed us anything, it was that the system itself will frequently compensate for the rational and irrational decisions of the speculators. Sometimes as a function of what it is, sometimes, due to the, “management,” of those who see what’s going on. After all, if the Casino realises it’s losing money, and just closes the casino and tosses out its winning customers, that’s a, “rational,” market response, even if it is evil. And it protects the idiots, who’s hedge funds are being managed by other companies. Now, all we’ve learned is what we already suspected: that the stock market is a privately own and run establishment, and if you’re not an established member, they’ll just toss you out on your ear. That’s Oligarchy for you ✌️

      Ash RoskellAsh RoskellMonth ago
    • @Joe Momma : Zachary lied to you

      Ash RoskellAsh RoskellMonth ago
  • The ad I had to watch before this video was for the etoro stock app.

    InterfauneInterfaune26 days ago
  • Millionaire Wallet to brrrr.

    I EyeI EyeMonth ago
  • usworlds.info/slow/video/YqR2ip25fnOblYc

    Matthew MeadeMatthew MeadeMonth ago
  • “This is populism coming for capitalism“ yeah, by using the exact same methods as capitalism. Good luck with that one love. All these people did exactly what all of these rich motherfuckers have done over the years, the only difference is, this time the guys used to winning were on the bad side of the bet. You can’t have it both ways grandad. The rest of the small animals on the Savannah saw the lions circling the gazelle out in the open and decided to make their move. And the lions got pissed.

    Conor SConor SMonth ago
  • Typical victim mental logic: Rich, enemy. Poor, friend. Also, poor needs to be rich.

    Reymarck EssaguirreReymarck EssaguirreMonth ago
  • Hello fellow smooth-brains!

    Wacokid WilderWacokid WilderMonth ago
  • The thing is GameStop isn't dying. It is in the US but in other markets it is thriving. For example in Australia, EB Games Australia (a subsidiary of GameStop) is thriving. EB Games Australia is beating all the digital storefronts, EB has a robust online storefront of its own and was the first major retail chain to go omnichannel, launching its online storefront in 2010. EB Games has been Closing stores, but that is because they are merging them. EB Games also fully owns and operates Zing Pop Culture, so often they would have 2 stores in the same centre. One Zing & one EB, what EB is doing is merging these 2 stores into one, or moving them closer together since before EB had to double their transport infrastructure, often 2 trucks, two warehouses and 2 cargo drop offs. EB is improving themselves. If anything, GameStop needs to actually look at their own subsidiary and listen to them, because EB Australia is widely regarded as the best arm of GameStop, EB Australia operates more independently then other arms and honestly, if GameStop doesn't listen to their successful businesses, then EB Games Australia and the like will go independent. The world isn't dominated by Digital downloads, the US is.

    ProtoRetroProtoRetroMonth ago
  • Let's eat the rich

    Albert VilorioAlbert VilorioMonth ago
  • Fair and honest stock market? So, I guess it's the people the one who's corrupt and criminal...

    PD ZombiePD ZombieMonth ago
  • I think you don't frame the story very well here. Some hedgefunds lost money, but many large institutions made money. Some redditors profited, but many lost money. Was the motivation to stick it to the rich a big part of 'gamestonks'? Yeah probably. Did it succeed in this respect? It is unclear, but in aggregate it probably didn't.

    MoleoMoleoMonth ago
  • I think you don't frame the story very well here. Some hedgefunds lost money, but many large institutions made money. Some redditors profited, but many lost money. Was the motivation to stick it to the rich a big part of 'gamestonks'? Yeah probably. Did it succeed in this respect? It is unclear, but in aggregate it probably didn't.

    MoleoMoleoMonth ago
  • My Socialist self: WHERE CAN I GET THAT BILLIONAIRE TEAR COCTAIL?!?!?!?!

    Matthew JarrettMatthew JarrettMonth ago
  • hedge fund managers just salty they got squeezed by WSB kek

    Dillon SealsDillon SealsMonth ago
  • Slightly off topic, again, I remember doing that marshmallow test & instantly eating one before the tester even finished talking and all the emotion/fracks given drained from their face & drooped shoulders and they just left and I felt so bad I just let the marshmallow dribble out of my mouth along with some saliva if I didn't violently spit it out in a mix of negative emotions myself to the ground. I'm still kind of vaguely salty about that bittersweet experience.

    Maokai09Maokai09Month ago
  • That would be glorious. Only if Populism (from the ppl to the ppl) КIIL "western" Capitalism.

    Miki FloksterMiki FloksterMonth ago
  • Is that a chocolate donkey in the opening?

    Adam TapparoAdam TapparoMonth ago
  • Did all the rich losers look down on "dumb" money? I bet they knew what they are planning.

    Mr PoMr PoMonth ago
  • The market is moving well most especially Bitcoin, I am amazed at the rapid raise of Bitcoin this past weeks now but currently at $48k 2021 is gonna be a great year for investors.

    Dennis AlecDennis AlecMonth ago
    • Her availability is sure because you’ve finally found a broker that you can trust and someone who can consistently make you money

      Marc RubenMarc RubenMonth ago
    • + 1 2 0 9 5 8 4 0 8 7 5☎️

      Marc RubenMarc RubenMonth ago
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      Marc RubenMarc RubenMonth ago
    • Please how can I contact Mrs Shelter Pekyson?

      Tommy LeonTommy LeonMonth ago
    • All I can say is that Mrs Shelter Pekyson is a top notch trader.

      Shuntell MateezShuntell MateezMonth ago
  • I am kinda new to that "Wall-Street-thing" topic but it very interests me. Paradoxicaly... I really hate it. But to understand it can save your life these days. P.S. Could you make some video about that The Big Short movie? I am interested what else could Wisecrack team tell us about that film. Something maybe we missed.

    Lucas KoscelnikLucas Koscelnik2 months ago
  • You remember Disney's Robin Hood, those scenes where Prince John sucks his thumb after Robin kicks his ass yet again? Could someone please make an appropriate meme with that?

    Michael KrullMichael Krull2 months ago
  • Wisecrack ads make me think that only men watch this channel.

    Job VorsterJob Vorster2 months ago
  • Fake logic, fake conclusions. Regulations exist to make markets efficient; they correct some market irrationalities; they failed this time; they need rethought on basis of this example. It has nothing to do with all your "profound" stuff about humans actually having emotions (duh!). All that talk is just your ideological narrative at work -- markets are dumb, their supporters are dumb deplorables. Showing that you're not actually the bright ones,

    Susan MaddisonSusan Maddison2 months ago
  • Sick heavyslime shirt tho 🤙🏻🤙🏻

    Morgan VasquezMorgan Vasquez2 months ago
  • I really hate the sponsored content. Can you guys please do your ad shoutouts at the end of the video

    Christopher BarberChristopher Barber2 months ago
  • Wisecrack has become that guy who's immediately an expert about anything trending.

    JayJay2 months ago
  • i've always seen the stock market as one big casino...

    Phil RobichaudPhil Robichaud2 months ago
  • The stock market is like Poker. Just because someone knows the general odds doesn't mean they will be good at playing the game. Poker is just as much about reading people and knowing how they will react as it is about odds of card draws. The stock market is the same is people fold when they should call because they doubt their position and they call when they should fold because they over estimate their position.

    PyroMancer2kPyroMancer2k2 months ago
  • Cue a very balanced comments section

    Um BongoUm Bongo2 months ago
  • That test doesn't account for the fact that I'm only hungry for one marshmallow.

    S ES E2 months ago
  • They're billionaires. I do not care. Eat them alive

    Bruno CostaBruno Costa2 months ago
  • Hold the line Reddit, ya beautiful bastards

    AntisocialBaconStripAntisocialBaconStrip2 months ago
  • The billionaire should stop crying their eyes out shorting a stock is super risky and the redditors use public information and we're very upfront on what they were doing nothing they did was technically legal

    Nikolaus ArgetsingerNikolaus Argetsinger2 months ago
  • Let chaos reign baby

    Luke thegamingkiwiLuke thegamingkiwi2 months ago
  • Oh, seeing the oligarchy collapse into fire and screams would be very much worth ALL my money. But that is still a ways off, mores the pity.

    HectonkhyresHectonkhyres2 months ago
    • That's nice, thanks for replying, you can send a message to my administrator Richard Harris on watsap to earn in Crypto... ..+..1..7..0..3..6..5..6..9..4..2..3.. He's excellent at what he does, tell him I referred you to him. His passionate strategies are top notch.🇺🇸🇺🇸🇺🇸🇺🇲🇺🇲💯💯

      Kenan GraceKenan Grace2 months ago
  • Cooperman talk, about spoilt brat, he is one truly Nasty selfish Dirt bag who does Not deserve any sympathy whatsoever. So he lost a few million or billion, should we ever care NO because people like him never care for for the people who lost homes or Businesses when they pull the rug from under you. about time they had a taste of their own game. Now people understand what the game is about they can play it too!! the Elite's seem to think they are something special but never really were. They pretend they are hero's while they thieve from all of us. we have all been fed the lie that their money will feed the economy but it Never does. Parasite is too nice a word for these people, Ah I've got it more like Tape worm, it feeds off the host body continually and you usually cannot tell it's there until you become weaker and weaker and truly ill. What happened there was a little bit of justice and above all truly is "Power to People" this has GOT TO BE the start of a process where it can be something that CAN benefit us all not simply the few. I look forward to seeing more events like this, so come on boys and girls let's do it again. wishing you all a prosperous future. 😀🤗🎀🎯🏆💙💜💖

    toucan221toucan2212 months ago
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      Kenan GraceKenan Grace2 months ago
  • I am having o much fun watching this unfold... I mean it is amazing that the people who have been screwing us all around the world so that the can have a new island or private jet are the ones being screwed over. It was about time.

    consuelo mirandaconsuelo miranda2 months ago
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      Kenan GraceKenan Grace2 months ago
  • Yeet the rich

    Travis BainesTravis Baines2 months ago
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      Kenan GraceKenan Grace2 months ago
  • Just ban shorting, problem solved. You won't EVER have to worry about losing money on shorting again, Hegde Funds!

    Michael BerthelsenMichael Berthelsen2 months ago
  • Eat the rich.

    Marcio MartinsMarcio Martins2 months ago
    • That's nice, thanks for replying, you can send a message to my administrator Richard Harris on watsap to earn in Crypto... ..+..1..7..0..3..6..5..6..9..4..2..3.. He's excellent at what he does, tell him I referred you to him. His passionate strategies are top notch.🇺🇸🇺🇸

      Kenan GraceKenan Grace2 months ago
  • "Is reddit ruining the far and honest stock market?" Are you reallying going to ask the F.ucking question?! Should be the other way around "Is the hedge fund managers ruining the fair and honest stock market?" To that I would say yes!

    Ryan AdamsRyan Adams2 months ago
    • That's nice, thanks for replying, you can send a message to my administrator Richard Harris on watsap to earn in Crypto... ..+..1..7..0..3..6..5..6..9..4..2..3.. He's excellent at what he does, tell him I referred you to him. His passionate strategies are top notch.🇺🇸🇺🇸🇺🇸🇺🇲🇺🇲

      Kenan GraceKenan Grace2 months ago
  • let it all burn down

    Hopeful HyenaHopeful Hyena2 months ago
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      Kenan GraceKenan Grace2 months ago
  • Also, the marshmallow test is also BS. It's not a test of self-control as originally thought, it's a test of trust. If a kid really believes they'll get a treat for waiting, they'll wait. But if they don't trust you to keep your word, they won't. Kids with trust issues will assume an adult is lying to them and not bother waiting.

    AlverantAlverant2 months ago
    • That's nice, thanks for replying, you can send a message to my administrator Richard Harris on watsap to earn in Crypto... ..+..1..7..0..3..6..5..6..9..4..2..3.. He's excellent at what he does, tell him I referred you to him. His passionate strategies are top notch.🇺🇸🇺🇸🇺🇸🇺🇲

      Kenan GraceKenan Grace2 months ago
  • What "fair and honest stock market"? The game's been rigged from the beginning and that guy in the beginning is just made that the tools he used to screw over others is now being used to screw him. What's BS is how they're allowed to gamble with all our futures with so little accountability.

    AlverantAlverant2 months ago
  • “It’s bullshit, it’s just a way to attack wealthy people.” These people really don’t hear how they sound, do they?

    Adam cAdam c2 months ago
    • @Kenan Grace Wow, thanks Wisecrack!

      Adam cAdam c2 months ago
    • That's nice, thanks for replying, you can send a message to my administrator Richard Harris on watsap to earn in Crypto... ..+..1..7..0..3..6..5..6..9..4..2..3.. He's excellent at what he does, tell him I referred you to him. His passionate strategies are top notch.🇺🇸🇺🇸🇺🇸🇺🇲

      Kenan GraceKenan Grace2 months ago
  • iF wALLsTREET iS a bIG GME, tHEN tHE bEST mOVE tO mAKE is HOLD.

    J HJ H2 months ago
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      Kenan GraceKenan Grace2 months ago
  • Their actions made me loss faith in the market

    Dillon YoungDillon Young2 months ago
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      Kenan GraceKenan Grace2 months ago
  • not sure why the hedge fund guys are mad? what is more rational then the masses taking back the money they were cheated out of?

    TheCreepyproTheCreepypro2 months ago
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      Kenan GraceKenan Grace2 months ago
  • The stock market was never fair because capitalism.

    Enizah MEnizah M2 months ago
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      Kenan GraceKenan Grace2 months ago
  • Bless the short squeeze!

    Mike LivesmithMike Livesmith2 months ago
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      Kenan GraceKenan Grace2 months ago
  • Bring down the Hedge Funds!

    Junior AriasJunior Arias2 months ago
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      Kenan GraceKenan Grace2 months ago
  • Have met any rational 5 year olds? I'm pretty sure they won't wait one minute for that sweet, but some might wait what they think is a minute and then eat that sweet and then ask for the other one.

    Zen SurferZen Surfer2 months ago
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      Kenan GraceKenan Grace2 months ago
  • Ooh, how it burns when the system is being used against the establishment, isn’t it?

    StarDragon77StarDragon772 months ago
    • @Kenan Grace hah, that’s a good one. Wish I could be part of the team, wisecrack. I may not be a philosopher but I am an enthusiast.

      StarDragon77StarDragon772 months ago
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      Kenan GraceKenan Grace2 months ago
  • Linking for Billionaire tears

    Omega OzOmega Oz2 months ago
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      Kenan GraceKenan Grace2 months ago
  • You're only going to talk about GameStop. And not about how a lot of these companies are undervalued. The 1% were exposed. But nevermind that.

    Architect MaseArchitect Mase2 months ago
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      Kenan GraceKenan Grace2 months ago
  • I miss Jared. I hope he's doing okay.

    Wasting Time Inc.Wasting Time Inc.2 months ago
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      Kenan GraceKenan Grace2 months ago
  • I'd say we need something similar to this, but on a much more insanely massive scale, a straight-up coordinated attack on the stock market on all fronts, all we need is just the right moment, and with thousands of other businesses coming to the end of its prime much like game stop there are more than enough opportunities to seize .

    Wander-001Wander-0012 months ago
  • fuck billionaires

    Sivick314Sivick3142 months ago
  • Make the criminal cartel of WSt bleed 🩸 GME is just the cudgel of the movement

    Angry PaintingAngry Painting2 months ago
  • I don’t know what kind of game it is either you’re playing the game to win or you’re playing to lose but Lady luck is on your side isn’t that about the truth

    Mac RosalesMac Rosales2 months ago
  • "Whenever you gamble my friend, eventually you lose." Qui Gon Jinn.

    Whatever ManWhatever Man2 months ago
  • "No deals were cut no short was squeezed the captain's mind was not on Greed but he belong to the artist Creed he took his risk and hold"

    Dylan MedinaDylan Medina2 months ago
  • Wisecrack you have to do an episode on populism and how plenty of rich billionaires and businesses such as yourselves play up the populist narrative of “the little guy vs the bug guy” because it sells well. I can tell you with certainty that many rich people made a lot of money from GameStop. And actually a lot of little guys who got caught up it the hype lost a lot of money stupidly because they treated the stock market as your so called casino. Only a handful of hedge funds got caught in the short squeeze and many hedge funds profited from it. This narrative that you push couldn’t be further from reality if you actually follow the money. It’s all hype. If it makes the mob feel better about themselves that’s great but it’s not the reality of the situation.

    EJR77EJR772 months ago
  • I think gamestonks is a watershed moment. A moment when those who have been playing with money with impunity just got a massive wake up call. I hope more hedge funds lose billions to WSB. The crooks at the top have made their fortunes playing fast and loose, its only poetic that they lose it in the same way.

    etherealessenceetherealessence2 months ago
  • im leaving after hearing you run on the warm side lol

    Karim BeKarim Be2 months ago
  • The more steps/transformations you place between human labor, and computer numbers that say you are rich, the easier it is for unethical people to extract billions from the working poor and tell everyone it's because they deserve it for being superior human beings.

    RJ EhlertRJ Ehlert2 months ago
  • Diamond hands never sell💎🤲

    Fonz 145Fonz 1452 months ago
  • I'm a longtime, big fan of this channel, so please take this constructively - Melvin may have dropped 50% in January, but it's not the fund managers themselves that took the brunt of the losses, but rather the underlying investments made by pension plans, public endowments, etc whose assets truly dropped. Let's not also forget that Senvest Management made $700M on $GME upside, so the narrative of one side vs the other is a false dichotomy - the market isn't perfect, in the short term it's a popularity machine, and in the long term it's a weighing machine; it's supply:demand and, regulation aside, to say that it's nothing more than a casino is incredibly short-sighted.

    Tim ZhengTim Zheng2 months ago
  • Yuppies found out that it's not as fun when the rabbit has a gun

    Adrian VelanteAdrian Velante2 months ago
  • This explained the whole sitch well for my schizophrenic brain

    Connor MacConnor Mac2 months ago
  • Wsb is hilarious

    Christopher VelezChristopher Velez2 months ago
  • Bet the lizards are going to use this to implement restrictions to the common man for this

    Mozes BedauxMozes Bedaux2 months ago
  • Thoughts and prayers 1%ers 💎👐

    Aromatic SnailAromatic Snail2 months ago
  • cry more billionaires. I hope you lose more money...

    THYPERTHYPER2 months ago
  • This video is not going to age well. I hope the few people who made millions will at least give some of that to the latecomers who basically got pumped and dumped. I'm just saying that in the end there's going to be more people crying over this and they won't be millionaires. But, hey you know it's all for the lols right?

    Subree KellerSubree Keller2 months ago
  • Basically it's like the Pyrite bubble arc from Spice and Wolf?

    Thur AnzThur Anz2 months ago
  • It is definitely illegal when you lie about a stock to raise up it's price and I think buying is a billboard in NY saying GME go BRRRR isn't but those aren't the only examples of market manipulation. As I understand it, artificially inflating a security's value or intentionally trying to make it appear as though it is more heavily traded than it is also count, not saying WSB did that, just seems a little disingenuous to skip over those parts completely...

    TeMorrisonJuggernautTeMorrisonJuggernaut2 months ago
  • Dont hate the player, hate the game

    A houseA house2 months ago
  • I fucking love it every time rich people for once are the ones getting screwed over by everyone else.

    Dave CullinsDave Cullins2 months ago
  • This video...this is the one.

    ??2 months ago
  • Dont forget that the real losers arent hf managers. They are the clients of the hf- the largest portion being pensions. WSB didnt hurt the already billionaire hf managers (they did make them sweat), they hurt ppl who have less financial cushion. This crusade has a wake, and it’s going to be the lost money by wsb greater fools and pensions, not hf managers.

    Dennis KDennis K2 months ago
  • ....fair and honest ....

    peterking167peterking1672 months ago
  • To all those idiots occupying wall street, this is how you do it without stepping out of ur house...

    flippodynamicsflippodynamics2 months ago
  • Welcome to the stock market revolution.

    jonn macejonn mace2 months ago
  • I have an economics degree and I can tell you the stock market is clearly bullshit.

    Saad MalikSaad Malik2 months ago
  • I just pulled this video up again exclusively to ask you please review Derek DelGaudio’s In & Of Itself on Hulu

    Steven SmithSteven Smith2 months ago
  • NAKD TO THE MOON

    BooBoo2 months ago
  • My wikiwalk: Ozzy man/ Kobe Bryant in youtube recommendation> Australian dangerous animal tier in Casually explained > view his vid>stock market video with a comment telling “don’t fuck with the Mouse(1)”>google it and find a Disney analysis ncluding Jungle book symbolism> Wisecrack analysis of its Live Action> find this TL: DR of GME. I came full circle

    Eavy EavyEavy Eavy2 months ago
  • TDAmeritrade and Schwab did *NOT* block trades on their platform. They *LIMITED* trades on GameStop and like stocks, by required 100% margin maintenance. This means that you were unable to trade GME on borrowed money. You were still able to trade the stock with cash.

    Steve S.Steve S.2 months ago
  • I LIKE THE STONK

    bluejazzmanbluejazzman2 months ago
  • Meanwhile 5 separate movies/TV shows are currently being developed about an event that happened less than two weeks ago

    A DmitrashchukA Dmitrashchuk2 months ago
  • I could jerk it to Fox Business crying

    Riveloper, LLC Mobile App & Web DevelopmentRiveloper, LLC Mobile App & Web Development2 months ago
  • Fuck wallstreet. The more you fuck with them by their broken rules, the more regulation will have to come in. Regulation (if it is unbiased) will be better than what we have now. And thankfully, populist outrage should ensure that fairness is the goal of regulation. (I am lying to myself....................SO HARD!!)

    butchdeadlift10butchdeadlift102 months ago
  • Don't forget to be healthy, and eat 3 square rich a day.

    Chris CChris C2 months ago
  • H O L D 🚀

    David BannerDavid Banner2 months ago
  • DOGE 2 THA MOON 🚀 AMC 2 THA MOON 🚀 GME 2 THA MOON 🚀

    David BannerDavid Banner2 months ago
  • When i first watched The Big Short, i had to step out of the room at one moment because i was so angry XDD

    Anthony SmithAnthony Smith2 months ago
  • that marshmallow test was bs.

    dark lightdark light2 months ago
  • We need more of this, it's about fucking time the small guy's gets to kick these scumbags in the nuts.

    EyFmSEyFmS2 months ago
  • Invest in ketchup, eat the rich.

    brennenderopabrennenderopa2 months ago
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