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 find out!
Mentioned in this podcast:
Meme Stocks Lose $167 Billion as Reddit Crowd Preaches Defiance
Reddit’s Market ‘Hype Machine’ Is in a Quest to Drive Out Bots
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