Dad Uses ‘Trading Places’ to Teach His Son a GameStop Lesson
Like a lot of parents these days, Cameron Crise is dealing with a teenager at home who wants to get into day-trading and reap the type of the windfalls boasted about by the WallStreetBets crowd.
Crise, a former hedge-fund trader and now a strategist at Bloomberg who writes the “Macro Man” column, had a novel way of handling the situation. Inspired by the classic movie “Trading Places,” he proposed a $1 bet on where GameStop shares were headed and another wager that his son Patrick could not double his money in three days with some Reddit-inspired paper trading that didn’t actually put any of the son’s – or more importantly, father’s – money at risk in the market.
Who won this battle of Macro Man vs. YOLO Boy? Tune in to the latest episode of the “What Goes Up” podcast to find out. The elder Crise also discusses whether macro-oriented assets could be susceptible to the Reddit treatment, and the younger Crise shares his insights as an avid reader of WallStreetBets as well as the lessons learned going up against his veteran trader father. Also an invitation for listeners to share their old-man movie recommendations on the podcast hotline (call us 646-324-3490) so Sarah can finally make sense of whatever it is Mike is babbling about this time.
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