HomeTrading strategies185: The reckless abandon of WallStreetBets—the place brazen risk-taking runs rampant w/...

185: The reckless abandon of WallStreetBets—the place brazen risk-taking runs rampant w/ Jaime Rogozinski

Jaime Rogozinski, a serial entrepreneur who resides in Mexico, is the person chargeable for bringing WallStreetBets to life—the notorious and wildly common subreddit, which proudly boasts the tagline, “Like 4Chan discovered a Bloomberg terminal.”

In different phrases, WSB is an internet discussion board (on Reddit) the place nearly all of it’s 700k+ members aren’t seeking to set up long-term, sustainable buying and selling careers. As an alternative they’re shopping for lotto tickets on commission-free buying and selling apps, taking almighty dangers, and making an attempt to strike it wealthy quick.

This can be a neighborhood, of primarily unsophisticated traders, the place losses of 10’s and 100’s of hundreds of {dollars} are so widespread that it’s thought-about the norm. And though much less widespread, there’s additionally the occasional member who’s handsomely rewarded for his or her audacious risk-taking. It’s type of insane what goes on right here, particularly as a result of it’s real-life—minus the odd trolling stunt.

However make no mistake, I’m not throwing shade at WSB. The brazen tradition is fascinating and you may’t assist however recognize the rawness of all of it, to not point out the feedback present priceless leisure worth. And there simply is likely to be some perception to gleam, should you look exhausting sufficient (even when it’s do the other!)

Talking with Jaime, he tells how the subreddit advanced and took on a lifetime of its personal, highlights from the timeline; that includes a member who uncovered an ‘infinite cash cheat code’ on Robinhood and the infamous ‘Pharma Bro’ Martin Shkreli who was as soon as a moderator, plus the most important features and losses in WSB historical past.

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