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tv   Our World  BBC News  March 14, 2021 9:30pm-10:01pm GMT

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hello, this is bbc news. the headlines:
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chanting: shame on you! the head of the met police says she does not intend to resign and welcomes a review into the police�*s handling of last night's vigil for sarah everard. i don't think anybody who was not in the operation can actually pass a detailed comment on the rightness and wrongness of it. you know, this is fiendishly difficult policing. but criticism of the police has been swift from across the political spectrum and those who attended the vigil. authorities in the republic of ireland recommend temporarily suspending use of the astrazeneca vaccine, after a report of four new cases of blood clotting incidents in adults who'd had the jab in norway. the foreign secretary makes another call for the immediate release of british—iranian nazanin zaghari—ratcliffe, after she faces new allegations of anti—government propaganda in court. and it's the music industry's
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biggest awards night of the year — the grammys. they're being held at a virtual ceremony in los angeles. now on bbc news, james clayton meets the investors who made a fortune trading from their bedrooms, the tech supremos who were watching on astonished and the hedge fund giants nursing their losses. there's this narrative that this was a david and goliath story. it's all of these hedge funds, like yours, against the people — and the people won. i'll put it this way. if a 5—year—old walked into this room right now, i could probably kick his ass. if 1,000 5—year—olds walked in here, they could probably take me down. just being honest about it. is that a david versus goliath story? uh, you know — no! something happened this january that no—one expected. it was a little bit like an internet revolution. we were team human, team normal, regular guy.
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it's united capitalists... it's like this focal point, a paradigm shift for everything that's gone on for the last few hundred years on wall street. ..socialists. .. if there was a smaller chance that i could have a direct impact on ruining some billionaire's life, i wanted in on it. ..and youtubers. so how much did you make? um, $40,000-ish? the idea that an internet forum could take a failing company and by collectively investing in it, or to use the parlance, "taking it to the moon," take on hedge funds and win, seemed impossible. houston, if that's not the earth, we're in trouble! but was this really a people's revolution? this is not a david—versus—goliath story, but more of a goliath—versus—goliath story.
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the gamestop story is the story of its investors, and we'll be telling it through the experiences of three amateurs in california who all buy and sell their shares using trading apps. gavin may, a 19—year—old youtube star, parkour enthusiast and amateur online trading guru. do you sometimes wonder why people listen to a 19—year—old who's been trading for, like, six months? yeah, no, totally. that's definitely a very valid question. john motter, who works for a homeless charity. he blames big finance for some of la's housing problems. have you ever bought any shares before? no. first time? first time. and casper and matt who run a social media marketing company. i'm a gambling guy and i really believed in the power of memes and i put my money where my mouth is.
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a year ago, gamestop to many was a business slowly dying. it sells physical games at an actual shop, and many on wall street thought that that business model wasn't just outdated, it was prehistoric. a business doomed to fail. its share price this time last year was around the $3 mark. over the summer, though, a few investors began to proselytise about gamestop. people like the then—obscure youtuber, keith gill, roaringkitty. many think it's a foolish investment, but everyone�*s wrong! they argued that far from being dead in the water, gamestop had potential. gamestop is an established, uniquely—positioned player in a thriving $150 billion gaming industry. one group in particular was listening.
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an internet message board called wallstreetbets. so could you just describe to someone who's never been on wallstreetbets, roughly what the culture is? yeah, i mean... it's hard to do it without, um, without using offensive terms, but it is veryjuvenile, very subconsciously absurdist. their favourite thing to do is something called "loss porn," where you share your biggest losses. and everyone will be like, "hey, man, goodjob!" like, "you lost $1 million, goodjob, man!" sort of the nature of the sub is, like, riskier bets. _ i can't tell, like, what's| a meme and what isn't. but all those meme posts are feeding into the larger goal of getting - as many people to buy stocks as possible. - slowly, gamestop started to get a buzz, and gradually the share price began to tick up.
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this is the first official close above $14, so cheers to that shit! so i first read about gamestop through the subreddit, wallstreetbets. i think the first time i bought in was late november to early december. i think the stock price was around $16 back then. gamestop�*s share price had attracted the attention of another kind of investor — short sellers. hedge funds that thought gamestop was overpriced. hedge funds like citron capital, founded and run by this man, andrew left. to me it looked like they were following the blockbuster video path. and then all of a sudden we found out in december, while the industry was actually up — the video game industry had their best month ever, december of 2020 — gamestop actually had a bad quarter, ora bad month. they were declining, and that was supposed to be their saviour month. and that's when i started to short the stock. left�*s hedge fund was now one of the many hedge funds that were shorting gamestop. essentially, they were betting
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that the share price would fall. if it did, they would make money. but that had also been noticed by people on wallstreetbets. gamestop happened to be one of the names that was most frequently shorted. they'd worked out that if gamestop�*s share price went up, hedge funds would lose money. and many users on the platform came up with a theory that went like this. if enough of us were to buy together, in conjunction, could we create a short squeeze which would force some of these hedge funds who are betting against gamestop to close out their position by buying gamestop back, and therefore pushing the price of gamestop even higher? wallstreetbets is a forum on san francisco—based reddit, one of the biggest social media companies in the world. and watching on was its chief executive and founder, steve huffman. i've known about
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wallstreetbets for years. wallstreetbets is in fact one of my guilty pleasures on reddit. was there a point where you were like, huh, this is a bigger story than i thought? 0n wallstreetbets, there's often a couple of stocks or companies that have their attention. and so over the years, it's been tesla, it's been virgin galactic, it's been blackberry. and so in my mind i'm just browsing reddit, gamestop, 0k, gamestop�*s got their infatuation right now. so i was actually a little bit late to the party. i didn't realise reddit had leaked into the real world again. so it was really at the take—off of the mania, i was like, 0k, this is a bigger one. by mid—january the price of gamestop shares was nearly $30, a tenfold increase from eight months before. it was about to go stratospheric.
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i got the champagne. cheers, congratulations, look at this shit! look at this shit, 60%! when did you start thinking, oh, dear — something's happening here? well, i was about to go do a twitter live feed. and i think like 150,000 people would sign on in the first few minutes. remember that line from jaws — "i think i need a bigger boat!" it's about this point when gamestop shares truly took off. ridiculous, ridiculous. ridiculous, argh! i remember that day. i think we opened at, like, $39 and at the peak of the day it was $76. watching this chart gives me heart problems, i swear to god. we both bought between, what, $70 or $80? around there. newsreel: gamestop had another wild day of trading. _ and it was ridiculous. we were texting each other all night. there was a couple of good mornings... a couple of really good mornings, yeah! newsreel: gamestop isn't stopping.
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fuelled by social media, i the video game company... all the money you had in the world was doubled? yeah, crazy. in just a few hours? completely crazy. and that was only, like, the first of five days of craziness. gamestop was going to the moon. the price was going up and up and up. there's more and more activity, more and more news, more and more attention. newsreel: the video game retailer hit a high of $380 a share... - gamestop was now in uncharted waters. its share price had increased by 100 times since march. we have gamestop hitting $300 and $350, and there was even an after hours session when the market was closed, but you know, especially large institutions can still trade, where it hit $450! i bought in at around $330, a first share. so i was a latecomer. word got out there was a good chance the hedge funds and billionaires that got greedy, and bought those enormous short
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positions, were going to be completely ruined over this. and so, even if there was a smaller chance that i could have a direct impact on ruining some billionaire's life, i wanted in on it. steve huffman was looking on. he had the power to switch wallstreetbets off. was there any pressure on you to maybe lock down wallstreetbets? we faced that question, that literal question — is there pressure, should you do something? but our motivation, or what we were trying to do, our duty in the situation was actually the opposite, to keep wallstreetbets online. so we did take a closer look here, but really, we were making sure the community didn't break. because a lot of people were coming to reddit for that experience. with reddit keeping wallstreetbets up, it now seemed unstoppable. can i ask how much you lost in total?
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no, i mean... i think the fund was down approximately, i don't even know... 18%, 19% —18%, possibly. how much is that in cash terms? i won't discuss that. that figure is certainly in the millions, and likely the tens of millions. but then, something happened. 0ne but then, something happened. one of the biggest trading apps in san francisco made a crucial decision. it and other trading apps were happy for people to cell first macro shares, but the stricter people from buying them. == shares, but the stricter people from buying them-— shares, but the stricter people from bu inuthem. ,, , ., , ., buying them. -- gamestop shows. now the ma'ori buying them. -- gamestop shows. now the majority of — buying them. -- gamestop shows. now the majority of people _ buying them. -- gamestop shows. now the majority of people could _ buying them. -- gamestop shows. now the majority of people could not - buying them. -- gamestop shows. now the majority of people could not buy - the majority of people could not buy the majority of people could not buy the stock. the the majority of people could not buy the stock. . . the stock. the chief executive testified to _ the stock. the chief executive testified to congress - the stock. the chief executive testified to congress they - the stock. the chief executive l testified to congress they have the stock. the chief executive -
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testified to congress they have run out of capital to meet deposit requirements, or in other words, they were running out of money. irate they were running out of money. we do not they were running out of money. - do not answer to hedge funds. the millions of small investors use our platform is everyday to invest. then it basically started _ platform is everyday to invest. then it basically started falling back down — it basically started falling back down to — it basically started falling back down to earth and at first it fell back_ down to earth and at first it fell back to — down to earth and at first it fell back to the 200s, then 100s. the clue to robin _ back to the 200s, then 100s. tue: clue to robin had's back to the 200s, then 100s. tte: clue to robin had's branding is in the name. a trading app that self—reported's embo was to democratise trading had to sum protected the rich. tt democratise trading had to sum protected the rich.— protected the rich. it happened riaht in protected the rich. it happened right in front _ protected the rich. it happened right in front of _ protected the rich. it happened right in front of your _ protected the rich. it happened right in front of your face, - protected the rich. it happened right in front of your face, they j right in front of your face, they blatantly did it and no one could say anything, so that was when we were thinking 0k, we give brands and companies a voice all the time, let's try and give the little guy a voice for something we really are passionate about. you voice for something we really are passionate about.— voice for something we really are passionate about. you decided to fly lanes passionate about. you decided to fly planes over— passionate about. you decided to fly planes over robin _ passionate about. you decided to fly planes over robin hood's _ passionate about. you decided to fly planes over robin hood's offices - passionate about. you decided to fly planes over robin hood's offices in l planes over robin hood's offices in the bay area. irate planes over robin hood's offices in the bay area-— the bay area. we did. robin hood
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catchin: the bay area. we did. robin hood catching the _ the bay area. we did. robin hood catching the run _ the bay area. we did. robin hood catching the run of _ the bay area. we did. robin hood catching the run of this, _ the bay area. we did. robin hood catching the run of this, they - catching the run of this, they created that irony for themselves. they cashed in on the ground image of democratising trading and making it that the average man can participate and play in this much bigger game than typically they had been closed out of and as soon as the little guy starts to actually win at some chips at the table, they have to shut down the game. {line win at some chips at the table, they have to shut down the game. one of the thin . s have to shut down the game. one of the things that _ have to shut down the game. one of the things that came _ have to shut down the game. one of the things that came up _ have to shut down the game. one of the things that came up time - have to shut down the game. one of the things that came up time and . the things that came up time and time again when talking to amateur investors is how much they relieved the financial systems were rigged to benefit the rich. much of that seemed to stem from the 2008 financial crash.— seemed to stem from the 2008 financial crash. ., ., , ., financial crash. nothing was learned from 2008- — financial crash. nothing was learned from 2008- no _ financial crash. nothing was learned from 2008. no one _ financial crash. nothing was learned from 2008. no one was _ financial crash. nothing was learned from 2008. no one was held - from 2008. no one was held accountable, the banks were bailed out, i cannot get a job or afford housing at that point. i crashed at my friend's couch. you can kind of see on the posts, between the memes and the jokes, see on the posts, between the memes and thejokes, and the person see on the posts, between the memes and the jokes, and the person who see on the posts, between the memes and thejokes, and the person who is like this is for my immigrant
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parents, the people who bring to my dad's business in 2008. —— ruined my dad's business in 2008. —— ruined my dad's business in 2008. —— ruined my dad's business will stop it is not just socialists who think that. jordan was a vocal supporter of wall street bats. his financial crimes were characterised in the film the wolf of wall street. that is a real life wolf. wolf of wall street. that is a real life wolf. ., ., , ., life wolf. that was there at the time. he went _ life wolf. that was there at the time. he went to _ life wolf. that was there at the time. he went to prison, - life wolf. that was there at the time. he went to prison, but i life wolf. that was there at the - time. he went to prison, but claims now to be reformed. _ time. he went to prison, but claims now to be reformed. when - time. he went to prison, but claims now to be reformed. when i - time. he went to prison, but claims now to be reformed. when i got - now to be reformed. when i got indicted with — now to be reformed. when i got indicted with the _ now to be reformed. when i got indicted with the jail, _ now to be reformed. when i got indicted with the jail, never- now to be reformed. when i got| indicted with the jail, never once did it _ indicted with the jail, never once did it occur— indicted with the jail, never once did it occur to me that i was innocent _ did it occur to me that i was innocent i_ did it occur to me that i was innocent. i neverfelt did it occur to me that i was innocent. i never felt like i was persecuted, got what i deserved, trusted _ persecuted, got what i deserved, trusted the institutions that put me iniaii, _ trusted the institutions that put me iniaii, i_ trusted the institutions that put me iniaii, idid— trusted the institutions that put me injail, i did my time and i got out and i_ injail, ! did my time and i got out and i rebuiii— injail, i did my time and i got out and i rebuilt my life. most people today— and i rebuilt my life. most people today do— and i rebuilt my life. most people today do not trust the institutions that are _ today do not trust the institutions that are essentially netting out justice — that are essentially netting out justice. what what happened in 2008,
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and at _ justice. what what happened in 2008, and at the _ justice. what what happened in 2008, and at the end of the film at the bil and at the end of the film at the big short. — and at the end of the film at the big short, they say all the bad guys that went _ big short, they say all the bad guys that went to jail, just kidding, no one went — that went to jail, just kidding, no one went to jail. and we laugh and smack_ one went to jail. and we laugh and smack because we know it is true, it is not _ smack because we know it is true, it is not right — smack because we know it is true, it is not right -- — smack because we know it is true, it is not right. —— we smirk. i think you _ is not right. —— we smirk. i think you find — is not right. —— we smirk. i think you find a — is not right. —— we smirk. i think you find a lot _ is not right. —— we smirk. i think you find a lot of people right now, they know — you find a lot of people right now, they know it is not right. by you find a lot of people right now, they know it is not right.— they know it is not right. by early fab , they know it is not right. by early fabry. the _ they know it is not right. by early fabry, the share _ they know it is not right. by early fabry, the share price _ they know it is not right. by early fabry, the share price of - they know it is not right. by early fabry, the share price of a - they know it is not right. by early fabry, the share price of a first . fabry, the share price of a first macro was about a tenth of its market high and on the way down, people lost a lot of money. —— the share price of gamestop. casper shares were at one point worth around $1000, he sold a few but hang on to most of them, he said at a principal. 0n the way down, his shares increased in value by more than $6,000. t shares increased in value by more than $6,000-_ shares increased in value by more than $6,000. i could have made a little bit of — than $6,000. i could have made a little bit of money, _ than $6,000. i could have made a little bit of money, but _ than $6,000. i could have made a little bit of money, but i _ than $6,000. i could have made a little bit of money, but i think- than $6,000. i could have made a little bit of money, but i think the | little bit of money, but i think the experience, some people will be mad that i'm saying this, but i think the experience was worth it. i do not really get too attached to the
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games until i have sold. john bought hith. he games until i have sold. john bought high- he said — games until i have sold. john bought high. he said he _ games until i have sold. john bought high. he said he only _ games until i have sold. john bought high. he said he only bested - games until i have sold. john bought high. he said he only bested what i games until i have sold. john bought| high. he said he only bested what he could afford to lose, but many others bought high thinking gamestop was go to the moon and lost a big. but i do think there were many who strongly— but i do think there were many who strongly believed that they could drive _ strongly believed that they could drive the — strongly believed that they could drive the price up and it would just stay there — drive the price up and it would just stay there and it would stay up forever~ — stay there and it would stay up forever. the only thing i can think of that— forever. the only thing i can think of that function that way has been hitcoin _ of that function that way has been bitcoin. ,, ., , ., , ., bitcoin. gamestop did not behave like bitcoin and _ bitcoin. gamestop did not behave like bitcoin and many— bitcoin. gamestop did not behave like bitcoin and many people - bitcoin. gamestop did not behave i like bitcoin and many people holding onto their shares were being egged onto their shares were being egged on by other reddit users whilst others were selling.— others were selling. there are definitely people _ others were selling. there are definitely people trying - others were selling. there are definitely people trying to - others were selling. there are definitely people trying to get| definitely people trying to get everyone into a frenzy so they can cash _ everyone into a frenzy so they can cash out, — everyone into a frenzy so they can cash out, as— everyone into a frenzy so they can cash out, as you are constantly saying — cash out, as you are constantly saying you _ cash out, as you are constantly saying you are taking it to the moon, — saying you are taking it to the moon, while at the same time you are setting, _ moon, while at the same time you are selling, trying to divest. it is eas to selling, trying to divest. it is easy to forget _ selling, trying to divest. it is easy to forget there - selling, trying to divest. tit 3 easy to forget there are millions of people who are not commenting, all they have is a username and they are
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just reading along, making their own decisions. , ~ decisions. reddit is like the definition _ decisions. reddit is like the definition of _ decisions. reddit is like the definition of confirmation i decisions. reddit is like the i definition of confirmation bias, because — definition of confirmation bias, because the _ definition of confirmation bias, because the way— definition of confirmation bias, because the way the _ definition of confirmation bias, because the way the platform i definition of confirmation bias, - because the way the platform works is a content — because the way the platform works is a content gets— because the way the platform works is a content gets said _ because the way the platform works is a content gets said to _ because the way the platform works is a content gets said to you - because the way the platform works is a content gets said to you based i is a content gets said to you based on the _ is a content gets said to you based on the uploads— is a content gets said to you based on the uploads it _ is a content gets said to you based on the uploads it gets, _ is a content gets said to you based on the uploads it gets, so- is a content gets said to you based on the uploads it gets, so people i on the uploads it gets, so people have _ on the uploads it gets, so people have to _ on the uploads it gets, so people have to agree _ on the uploads it gets, so people have to agree with _ on the uploads it gets, so people have to agree with you _ on the uploads it gets, so people have to agree with you for- on the uploads it gets, so people have to agree with you for your . have to agree with you for your content — have to agree with you for your content to _ have to agree with you for your content to reach _ have to agree with you for your content to reach the _ have to agree with you for your content to reach the front - have to agree with you for yourl content to reach the front page, have to agree with you for your. content to reach the front page, so that means — content to reach the front page, so that means you _ content to reach the front page, so that means you are _ content to reach the front page, so that means you are only— content to reach the front page, so that means you are only going - content to reach the front page, so that means you are only going to l that means you are only going to hear— that means you are only going to hear from — that means you are only going to hear from the _ that means you are only going to hear from the people _ that means you are only going to hear from the people who - that means you are only going to hear from the people who are . that means you are only going to - hear from the people who are saying what people — hear from the people who are saying what people want _ hear from the people who are saying what people want to _ hear from the people who are saying what people want to hear. _ hear from the people who are saying what people want to hear. only - hear from the people who are saying j what people want to hear. only from those _ what people want to hear. only from those people — what people want to hear. only from those people. so _ what people want to hear. only from those petiole-— what people want to hear. only from those people-— what people want to hear. only from those --eole. ., ., those people. so someone said do you know what guys. _ those people. so someone said do you know what guys. we — those people. so someone said do you know what guys, we should _ those people. so someone said do you know what guys, we should sell - those people. so someone said do you know what guys, we should sell now. i know what guys, we should sell now. so it is the more extreme, funny stuff that gets updated.- so it is the more extreme, funny stuff that gets updated. exactly. -- u voted. stuff that gets updated. exactly. -- uvoted. i stuff that gets updated. exactly. -- upvoted. i asked _ stuff that gets updated. exactly. -- upvoted. i asked reddit's_ stuff that gets updated. exactly. -- upvoted. i asked reddit's boss - stuff that gets updated. exactly. --| upvoted. i asked reddit's boss when he felt any response ability for those who lost out? t he felt any response ability for those who lost out?— he felt any response ability for those who lost out? i think any trade, those who lost out? i think any trade. not _ those who lost out? i think any trade, notjust _ those who lost out? i think any trade, notjust a _ those who lost out? i think any trade, notjust a risky - those who lost out? i think any trade, notjust a risky one, - those who lost out? i think any trade, notjust a risky one, hasi those who lost out? i think any i trade, notjust a risky one, has at risk _ trade, notjust a risky one, has at risk but— trade, notjust a risky one, has at risk but it — trade, notjust a risky one, has at risk. but it also has opportunity. i think— risk. but it also has opportunity. i think it _ risk. but it also has opportunity. i think it is — risk. but it also has opportunity. i think it is important to individuals
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to have _ think it is important to individuals to have that opportunity. i do not think— to have that opportunity. i do not think we — to have that opportunity. i do not think we as — to have that opportunity. i do not think we as a society should be so paternal— think we as a society should be so paternal to — think we as a society should be so paternal to say that this group is smart— paternal to say that this group is smart enough to make these decisions, but this group, we should keep them _ decisions, but this group, we should keep them out. nobody goes to wallstreetbets thinking this is a safe place to spend money. gamestop have been characterised _ safe place to spend money. gamestop have been characterised as _ have been characterised as wallstreetbets versus wall street battle. but we did not interview anyone who thought it was as simple as that. i suppose the question is was this a people's revolution? it was this a people's revolution? tit most certainly started as a people's revolution and then i am sure it would only be logical that any shrewd large investor would say look what they are doing it, let's jump on that bandwagon and the important thing, and what makes this dangerous, is those sophisticated investors that got in on the back are smart enough and sophisticated enough to know when to get out of
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the situation, while the little guy is typically the one that gets in the bag and that is sad. this narrative — the bag and that is sad. this narrative that _ the bag and that is sad. this narrative that it _ the bag and that is sad. this narrative that it was - the bag and that is sad. this narrative that it was just wallstreetbets that moved it, a lot of other people think no, it must have been a much biggerforces at play. obviously there was a short squeeze, it could well have been hedge funds against other headphones.— hedge funds against other headphones. hedge funds against other headhones. , ., ., , headphones. absolutely. -- against other headphones. _ headphones. absolutely. -- against other headphones. it _ headphones. absolutely. -- against other headphones. it is _ headphones. absolutely. -- against other headphones. it is an - headphones. absolutely. -- against other headphones. it is an open - other headphones. it is an open market. ~ . , other headphones. it is an open market. ~ ., , ., ., , other headphones. it is an open market. ., , ., ., , market. what is without doubt as wallstreetbets _ market. what is without doubt as wallstreetbets helped _ market. what is without doubt as wallstreetbets helped to - market. what is without doubt as wallstreetbets helped to start i wallstreetbets helped to start things rolling, but much larger financial players were also heavily involved. ., , , ., , financial players were also heavily involved. , involved. people using robin hood and --eole involved. people using robin hood and people who — involved. people using robin hood and people who are _ involved. people using robin hood and people who are not _ involved. people using robin hood and people who are not large i and people who are not large institutions, are bigger part of the market— institutions, are bigger part of the market than they have ever been,
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about _ market than they have ever been, about a _ market than they have ever been, about a quarter. but they are still about a quarter. but they are still a small— about a quarter. but they are still a small player relative to the biggest — a small player relative to the biggest institutions, so when you see a _ biggest institutions, so when you see a price — biggest institutions, so when you see a price coming from gamestop from _ see a price coming from gamestop from $18— see a price coming from gamestop from $18 on the way up to $325, it is very— from $18 on the way up to $325, it is very unlikely that the only people — is very unlikely that the only people who are buying and driving that price — people who are buying and driving that price up are the retail traders, _ that price up are the retail traders, just by virtue of their size _ traders, just by virtue of their size in— traders, just by virtue of their size in the _ traders, just by virtue of their size in the marketplace. what 'ust happened? — size in the marketplace. what 'ust happened? what i size in the marketplace. what 'ust happened? what is i size in the marketplace. what 'ust happened? what is this i size in the marketplace. whatjust| happened? what is this something extraordinary? did something change? could it happen again? you extraordinary? did something change? could it happen again?— could it happen again? you will find that the large _ could it happen again? you will find that the large institutions _ could it happen again? you will find that the large institutions have i that the large institutions have already made changes in at their policies that pretty much prevent these extreme situations from happening. i would these extreme situations from happening. iwould be these extreme situations from happening. i would be certain that right now there is not a chat board out there that any hedge fund does not have their people in there in every single chat watching everything that is going on. andrew sa s he everything that is going on. andrew says he will — everything that is going on. andrew says he will think _ everything that is going on. andrew says he will think twice _ everything that is going on. andrew says he will think twice about i says he will think twice about shorting in the future. did says he will think twice about shorting in the future.- says he will think twice about shorting in the future. did i lose mone ?
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shorting in the future. did i lose money? gas- — shorting in the future. did i lose money? gas- i— shorting in the future. did i lose money? gas. i move _ shorting in the future. did i lose money? gas. i move on. -- i shorting in the future. did i lose | money? gas. i move on. -- yes, shorting in the future. did i lose - money? gas. i move on. -- yes, move on. do money? gas. i move on. -- yes, move on- do you _ money? gas. i move on. -- yes, move on- do you think— money? gas. i move on. -- yes, move on. do you think that _ money? gas. i move on. -- yes, move on. do you think that what _ money? gas. i move on. -- yes, move on. do you think that what happened i on. do you think that what happened will make people more nervous about shorting in the future? qt will make people more nervous about shorting in the future?— shorting in the future? of course. and as for — shorting in the future? of course. and as for gamestop, _ shorting in the future? of course. and as for gamestop, it - shorting in the future? of course. and as for gamestop, it is - shorting in the future? of course. and as for gamestop, it is now i and as for gamestop, it is now looking to move its operations digitally. its share price is still incredibly variable. in february, it has been between $40 and $200. casper and matt believe what happened shows what the internet can do through collective action. t do through collective action. i think from now on, hedge do through collective action. t think from now on, hedge funds are going to have in their risk models, prediction models, there will be a new line item in there like watch out for everyone at ganging up on us and grouping together that scenario. that has never happened before. without the internet that would be impossible to accomplish that. john's investment was relatively small, but he lost most of it. t do small, but he lost most of it. i do not think any _ small, but he lost most of it. i do not think any change _ small, but he lost most of it. i do not think any change has come out of
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this. not think any change has come out of this that— not think any change has come out of this. that has been pretty apparent. i this. that has been pretty apparent. i hope _ this. that has been pretty apparent. i hope people see that, everyone who .ets i hope people see that, everyone who gets screwed over doesn't see that. no one _ gets screwed over doesn't see that. no one is— gets screwed over doesn't see that. no one is coming to bail them out. changes— no one is coming to bail them out. changes are — no one is coming to bail them out. changes are being made. —— everyone who gets _ changes are being made. —— everyone who gets screwed over doesn't see that _ who gets screwed over doesn't see that. , , , ., ~' that. gavin says he ended up making $40,000. there — that. gavin says he ended up making $40,000. there were _ that. gavin says he ended up making $40,000. there were lots _ that. gavin says he ended up making $40,000. there were lots of - that. gavin says he ended up making $40,000. there were lots of retail. $40,000. there were lots of retail investors that were there to make money. investors that were there to make mone . , , ., .,, investors that were there to make mone., , ., , money. definitely, and most people sa the money. definitely, and most people say they want _ money. definitely, and most people say they want to _ money. definitely, and most people say they want to make _ money. definitely, and most people say they want to make a _ money. definitely, and most people say they want to make a point i money. definitely, and most peoplej say they want to make a point about hedge fund, but they all wanted to make some money.— hedge fund, but they all wanted to make some money. what is clear is that trading — make some money. what is clear is that trading apps — make some money. what is clear is that trading apps have _ make some money. what is clear is that trading apps have transformed| that trading apps have transformed the financial system. trading has become a more democratic, but conversely, it has also become more risky. exaggerating the highs and the lows. the story of a gamestop is both inspirational and
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precautionary. if this was a revelation, it was one that had its casualties. investors that reach for the moon and did not quite make it. hello. after a real battering in the last week with strong winds across the uk and low pressure in charge of everything, the week ahead brings us a different story. lighter winds certainly initially, and a tale of high pressure trying to make its way across us. it's not an entirely straightforward story, however. there will be some weather fronts running into the north of our area of high pressure and just how that area of high pressure builds will govern what things look and feel like through the remainder of the week. overnight, the tail end of a weather
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front brings some showery rain into parts of england and wales. across scotland and northern ireland, clear skies and light winds — a frost here to start us off on monday. a bit more cloud getting into the west will keep the temperatures up in northern ireland through the small hours. we will see some rain here through monday morning. elsewhere, some sunshine to start the day and then rain getting into wales and the south west by lunchtime and cloud generally building from the west as the hours go by. eastern counties keeping the sunshine, i think, there until the evening. lighter winds across the board. temperatures, around average or slightly above for the time of year. we could see up to 13 in the south—east of england. now, through monday evening and overnight into tuesday, that band of cloud and rain which is this warm weather front will work its way eastwards across the uk and a cold weather front follows in behind it. don't be too concerned though by the name "cold front" because actually, we're still originating some fairly mild air from the atlantic. so the temperatures won't fall away too sharply. we start the day with the cloud
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and rain across england and wales but much brighter by the afternoon, and a fairly healthy array of temperatures widely in the lower end of double figures. it's from midweek onwards though that we have to keep a close eye on what this high does next. looks like it'll build quite well across the uk, but this low that dives down into the continent leaves us with a northerly or north—easterly airstream — the milder air sitting to the west of the uk. our temperatures won't look too bad on into wednesday but come thursday and friday as that northerly or north—easterly establishes itself, we will see our temperatures falling away but also, the strength of the wind will add a significant wind—chill. so, i think colder for all of us again by the end of the week and some quite strong gusty winds for easterly reaches.
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