GameStop, Tolkien, and Re-booted TWE
The GameStop short game has been great fun.
But it opened my eyes to the Byzantine relationships on Wall Street, relationships and dealings so complex that the average guy can’t even take the time to try to understand them. It opened my eyes to see that I don’t get it myself.
ZeroHedge broke it down the best it could figure. It’s complicated, but it appears to come down to this: Due to regulations put in place by Dodd Frank, Robin Hood had to post proof of liquidity that it didn’t have due to the short squeeze, and at least one of its backers was one of the hedge funds getting squeezed and couldn’t help them, so Robin Hood was (is?) in trouble.
So, it wasn’t a case of Wall Street protecting their own. It was a case of Robin Hood trying to survive.
But that doesn’t explain why TD Ameritrade and other platforms suspended trading as well.
I’d love to get to the bottom of it, but I’m afraid it’s beyond my pay scale. If anyone sees a cogent explanation, please send it along.
If you didn’t notice, the re-booted Weekly Eudemon podcast is back.
I launched three episodes this week, but that won’t continue.
The plan is . . . not to have a plan. I will post episodes when mood, sobriety, and time permits.
That being said, I suspect I’ll release a new episode every Sunday, just like I used to.
The podcast is “rebooted” in the sense that I don’t do multiple segments and I don’t edit the audio (besides doing a few basic things to eliminate “tinny” sounds and such). It’s much more like a radio show, with all the speaker’s faults and such.
I found the process of editing simply arduous and exhausting. There was something about listening to my voice and editing out flaws that drained me. I hated that part of the production.
The splicing of segments also took a fair amount of time, but it wasn’t hard like editing. I suspect future episodes will consist of two segments: an introduction/weekly wrap-up, followed by the feature segment.
But not always.
Like I said, the plan is not to have a plan. We’ll see how it evolves, but the reception to the re-booted podcast has been positive so I’m encouraged.
Listening: Episodes 161-163 of National Review’s “Great Books” podcast. They feature Tolkien biographer Brad Birzer, talking about The Lord of the Rings trilogy. I’ve only gotten through the first episode, but I’m really enjoying it. I’m learning a lot but, more importantly, remembering a lot of things I forgot.
Reading: J.R.R. Tolkien, The Fellowship of the Ring. That podcast made me miss those Tolkien books, which occupied so much of my time and attention from age 10-16. I read all Tolkien’s Middle Earth (prose) books (including Unfinished Tales), but only once straight-through. The rest of my hours (and hours and hours) of Tolkien reading came from perusing Tolkien dictionaries and other third-party works (the best one). I’d forgotten the sheer joy of reading Tolkien for fun.