Matt Masur Show Clips
Wall St Bets, #Stonks?! What is this all about?
Gravy Dangerfield (Greg) joins us to help explain it all. But in curious fashion his connection was cut when he started speaking about the elite. Interesting…
Really tho, it’s a great segment that sadly got cut short. We’ll bring Greg back soon to answer more questions!
Full Text Transcript Available at 315Live.FM
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Explain it Like I’m 5: Wall St Bets | The Matt Masur Show Clips | The Matt Masur Show CLIPS
Computer Generated Transcript:
Explain it Like I’m 5: Wall St. Bets
[00:00:00] Matt Masur: [00:00:00] Oh, we got him. This is going to be good. Yeah. Let’s say we’ll get you on the screen. My friend, make sure everybody can hear you. Let’s see if this works. I can hit the right view window. Fuck. Is it there? He is.
There he is. What’s going on, man. Hey, good morning. How you doing? Good, huh. So listen, I got it. Before we get too crazy. I got to ask you, and this is going to be the wildest question of an interview ever. W what the fuck is your name?
Gravy Dangerfield: [00:00:39] My name’s Greg. I liked that you Greg, but a gravy Dangerfield, something I came up with in the depths of an acid trip a while back and it kinda stuck.
Matt Masur: [00:00:50] Okay. I like it. It’s a, it’s definitely a throwback to the, great Rodney danger.
[00:01:00] Gravy Dangerfield: [00:00:59] Yeah. When we were in some grave danger in the midst of some Rodney Dangerfield impersonations the the wonders of language, jumbled it all together into gravy Dangerfield.
Matt Masur: [00:01:15] I love it, man. I love it. So listen, we got you on to talk about this wall street bets this whole thing that popped off and you’re a guy you obviously, you’re not a stock trader or a, stockbroker on wall street, but. You are a guy who definitely has been into this a little more than me and a lot, more than a lot of other people.
So if you could, as we say explain this to me, like I’m five what the hell is this thing all about what is even going on?
Gravy Dangerfield: [00:01:52] Yeah I’m definitely no financial professional, but I am a long time degenerate of wall [00:02:00] street bats. And like you said, the systems raped the, hedge funds have their, offices right next door to the stock exchange where there’s there’s no latency between their computers and they’re, their trades are going through and a millisecond as they’re all discussing what they’re doing in, these private rooms.
And. Yep. Then when they do release their information, we’re getting it two, three weeks after the fact, we just there’s really no way for us to compete with the, information advantage that they have. So wall street bets is a subreddit where a bunch of people came together and just used the, brain power of the 2 million members or so at the time there to crowdsource their Their stock picks.
And [00:03:00] about a year and a half ago, there was a guy goes by deep fucking value, a legend. Now I’m sure he’s going to be showing up in plenty of movies. They just sold his story. But he he posted about a year and a half while the stop was was being shorted. To just an impossible extent meaning that the there were hedge funds that were trying to profit off a fall in the stock price.
So they were driving the stock price down. And this guy discovered that just based off the numbers he had, he was pretty sure that they were doing it by creating. Counterfeit shares and selling them on the market to the point that there were about twice as many shares [00:04:00] out there that should out there on the market then should even, yeah.
So he shared that with the rest of us and everybody told him he was a moron. He didn’t know what he was talking about. And he stuck to his guns. He just said okay, I’m I’m going to stick with this. And he just it was, great. He was, he just responded to the Seinfeld gift and all right, I’m fine.
Matt Masur: [00:04:24] Losing all that. And he put his money where his mouth was
Gravy Dangerfield: [00:04:27] right? Yeah. He put $50,000 in there and every week or so he would post an update with a screenshot, just as proof that he was still in it. Yeah. And everybody told them all along for the whole last year, what an idiot he was until No, maybe a couple of weeks ago, he he got the moment.
I don’t know what you saw
Matt Masur: [00:04:50] and I’m a very rich idiot.
Gravy Dangerfield: [00:04:53] Yeah. He he was up to about 50 million at one
Matt Masur: [00:04:56] point. Yeah. From 50,000. [00:05:00] Now, did he hold through the whole thing and has he gone through the whole ride or did he ever cash out? Do we know
Gravy Dangerfield: [00:05:07] he cashed out 13
Matt Masur: [00:05:09] million. A while back a couple months ago, I believe
Gravy Dangerfield: [00:05:16] so.
He’s got he’s got that. He’s a millionaire.
Matt Masur: [00:05:20] He’s been making bank on this long before. It was a big story.
Gravy Dangerfield: [00:05:25] Yeah. He’s been doing this since about
Matt Masur: [00:05:27] 2019 and that’s in this whole group has been active in just under the radar all that time.
Gravy Dangerfield: [00:05:37] Yeah. It’s a, there’s a lot of misconceptions about what it is.
A lot of people think that it’s a group of people who pool their money together and use it to inflate the price of a certainty. Sure. All right. My cats are now on the walls. That’s just not possible. If, [00:06:00] even if you manage to get. All you know, several million people on the same page, we just don’t have the money to compete with hedge funds.
Nevermind. Getting a few million people to all operate as one. Sure. It’s really just, all of this momentum was us piggyback feeding off of hedge fund versus hedge fund really once once this kind of got exposed as correct information Yeah, there’s always been financial professionals creeping around wall street guys.
Matt Masur: [00:06:39] And that would make sense, right? If you’re actually serious about this stuff, you should have your eyes on these things. And it seems like I know a lot of these everyday Reddit, trolls have been made out to be the big players, but there’s no doubt, big money, traditional investors who jumped right in this train.
[00:07:00] ’cause it, was a legitimate opportunity for profit, right?
Gravy Dangerfield: [00:07:06] Oh,
Matt Masur: [00:07:06] absolutely. I want to say, talk shit on TV, about
Gravy Dangerfield: [00:07:09] going to get did with them having to freeze the market if it weren’t. Yeah. If, it were really just a bunch of idiots who didn’t know what they were talking about, then the hedge funds would have been more than happy to just let us lose our money.
And never mentioned
Matt Masur: [00:07:23] that. Now, let me ask you at the root of this, like you talked about is, a I, would think fraud if, these guys are dealing in all these counterfeit shares, but set that aside for a minute, tell us about this, whole concept of shorting. What is this, deal where investors have figured out how to make money as a business fails.
Gravy Dangerfield: [00:07:50] In the most basic sense we think of innovation. The thing is buying a stock and holding it until it becomes more valuable. You can also make [00:08:00] money as a stock becomes less valuable by borrowing a share when the price is high, waiting for the price to go down and then buying it to repay that borrowed share and keeping the difference in price as your profits.
Matt Masur: [00:08:18] It’s and that’s an interesting concept because, and I’ve seen it explained a few times, I didn’t know what it was before all of this. And you think about it, it’s really about like screw in the guy holding the bag. Cause, like I borrow it from you, but I don’t pay you. And it’s not like you think about gasoline, right?
The reason the gas price changes all the time is. Cause it, it fluctuates in. And even though they put the gas in the ground from the delivery truck at a dollar, a gallon, it now goes for a dollar 50. I pay a dollar 50. It doesn’t work that way with this, the way it works with this is I got that gas from you for a buck, a piece.
[00:09:00] But then the market drops down to 50 cents a piece. I only got to pay you that 50 cents. And you, the guy that started this the guy that lent out the shares to be shorted. I don’t know, man, it just seems I get that there’s money to be made for these folks. I don’t understand how that’s, it’s legitimate business but, then again that’s, where my capitalism has its limits.
Gravy Dangerfield: [00:09:31] I
can see the argument made for short selling. I’m on the fence myself, but it’s in an of itself. It’s not. I E corrupt concept too, is that these hedge funds have the ability because of their relationships.
Matt Masur: [00:09:49] Oh, I think he broke up.
Gravy Dangerfield: [00:09:53] You still there, man.
Matt Masur: [00:09:54] We’ll see if we can get him back.
We were going so well, too.
It’s an [00:10:00] interesting thing. All of this stuff, when real people start getting involved, and then we start learning about all these different worlds, all these this, whole concept to me again, still this, whole shorting thing where these guys have figured out a way to make money.
Bye when a business fails. Great. Cool. But who would have ever imagined such a thing? I apologize to Greg I don’t, know I figured first live show. I’m definitely gonna have things break and that is the case. I don’t honestly know why.
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