The Revolution That Wasn't by Spencer Jakab

The Revolution That Wasn't by Spencer Jakab

"The saga of GameStop and other meme stocks is revealed with the skill of a thrilling whodunit. Jakab writes with an anti-Midas touch. If he touched gold, he would bring it to life." --Burton G. Malkiel, author of A Random Walk Down Wall Street
 
From Wall Street Journal columnist Spencer Jakab, the real story of the GameStop squeeze--and the surprising winners of a rigged game.

During one crazy week in January 2021, a motley crew of retail traders on Reddit's r/wallstreetbets forum had seemingly done the impossible--they had brought some of the biggest, richest players on Wall Street to their knees. Their weapon was GameStop, a failing retailer whose shares briefly became the most-traded security on the planet and the subject of intense media coverage.
 
The Revolution That Wasn't is the riveting story of how the meme stock squeeze unfolded, and of the real architects (and winners) of the GameStop rally. Drawing on his years as a stock analyst at a major bank, Jakab exposes technological and financial innovations such as Robinhood's habit-forming smartphone app as ploys to get our dollars within the larger story of evolving social and economic pressures. The surprising truth? What appeared to be a watershed moment--a revolution that stripped the ultra-powerful hedge funds of their market influence, placing power back in the hands of everyday investors--only tilted the odds further in the house's favor.
 
Online brokerages love to talk about empowerment and "democratizing finance" while profiting from the mistakes and volatility created by novice investors. In this nuanced analysis, Jakab shines a light on the often-misunderstood profit motives and financial mechanisms to show how this so-called revolution is, on balance, a bonanza for Wall Street. But, Jakab argues, there really is a way for ordinary investors to beat the pros: by refusing to play their game.

SPENCER JAKAB writes for and edits the Heard on the Street column for The Wall Street Journal and previously wrote its daily investing column, Ahead of the Tape. He has also written about investing for the Financial Times, Barron's, and Dow Jones Newswires. Prior to becoming a journalist, he was a top-rated stock analyst covering emerging markets at Credit Suisse. This is his first book.

SKU	Unavailable
ISBN 13	9780593421154
ISBN 10	0593421159
Title	The Revolution That Wasn't
Author	Spencer Jakab
Condition	Unavailable
Binding Type	Hardback
Publisher	Penguin Putnam Inc
Year published	2022-02-01
Number of pages	304
Cover note	Book picture is for illustrative purposes only, actual binding, cover or edition may vary.