instead is the revolt of the public how they're looking at the whole situation we've seen with wall street bets taking on reviving on practically dead company called game stop and using that zombie to against the zombie if a kid zim the zombified the people who's on the fight they conned me the hedge funds the private equity and stuff like that so let's look at this have like the game stop reckoning was a long time coming this week gleeful online hordes turned the stock market upside down this shouldn't come as a surprise while watching the game stop drama i've been reflecting on what the author martin gurrey calls the revolt of the public mr gurrey writes that the internet has empowered ordinary citizens by giving them new information and tools which they then use to discover the flaws in the systems and institutions that govern their lives once they discovered these shortcomings he writes the citizens often rebel tearing down elites and dominant institutions out of anger and haven't been light to and withheld from we've been ahead of this curve we invented karma bank which was a way to u

up next to the cause report with the latest on the revolt against wall street and more and it will be right here in this she did to get you up to speed on the morning global news headlines in just about an hour's time join us again that. max kaiser this is the kaiser report max and stacey have been talking about the global insurrection against banker occupation now for more than 15 years it's coming to a head. right the new york times doesn't use giago the global insurrection against banker occupation what they use instead is the revolt of the public how they're looking at the whole situation we've seen with wall street bets taking on reviving on practically dead company called game stop and using that zombie to against the zombie if a kid at the zombified hires the people who is on the 5 con me the hedge funds the private equity and stuff like that so let's look at this have buy the game stop reckoning was a long time coming this week gleeful online hordes turned the stock market upside down this shouldn't come as a surprise while watching the game stop drama i've been reflecting on

2008 when who got rescued for their shock orrible mistakes and their outright obvious fraud but wall street and we everybody saw everybody in the world and they're all doing that now. max is doing right now it's like ok now we see if this is going to be a rigged game that we're going to look for any of your vulnerabilities within this game and we get back against you right the new york times says the wall street was one of the last bastions of power to be overrun by the populist movement because of the high barriers to entry yes and that's right those barriers to entry have been eliminated because of free online trading because of all the stimulus checks made a lot of people lots of free cash to have available to do something like this there is a call apparently $65000000000.00 in the war chest of the biggest has fun in the world which is reddit and wall street bets so they've got a lot of cash and energy and expertise to go after targets out there that they perceived to have stolen their money in 2008 agree that's true they are now impacting retribution in more power to them the new york t

people are driven by a real anger at wall street. that for too long they have shaped the rules in their favor and nobody else's. on the one hand, you have very influential people calling for further deregulation of the financial sector. the minute they stop losing money, they go crying to legislators say -- can you make this stop? you can see how underhanded this could be when you look at the reactions of the robinhood trading at. there is a -- trading app. there is a sense that they had their head sat on by various capital firms and they changed the rules in order to disadvantage their users. they were restricted from buying stock. i could only sell it. there were also complaints about stock being sold off without their explicit consent. you can see how these rules are very much tilted in the favor of establishment players. i think this is going to result in a feedback loop. the more you see platforms taking this action, the more it will motivate people to see these very -- to take these very aggressive, anti-short positions in the

week and many posters on wall street pointed out that quote one hedged. the suffering i'm in the game stop surge was melvin capital management which another hedge for and citadel has since bailed out in these losses so that those founders can grip and who also founded so they'll securities a big investor in robin hood up that also works with t.d. ameritrade and charles robb the companies that were cutting these people out and saying you cannot buy game stop on our apps anymore. are companies that actually have connections to to melvin management who is losing money because of what was happening and it all comes full circle i think that what this goes to show is that one there is the mechanisation behind all of this drive to shut people out and once they saw that so many people had gotten involved and engaged in that raid it had basically taken over to a certain extent and they were a to stop it immediately and now you know these organizations as well as those who actually bought the stocks are calling on congress for 2 very different things one you know t

wall street knows that.t will be great to have all the monetary supply flowing free in the market. inflation is staying in check. that is all wall street and the fed cares about right now. charles: michael lee, what are your thoughts? >> charles, i echo david's sentiments. when all the short squeezes came in last week. there was a capital crunch across the prime brokerage desks across wall street. you are seeing massive sortages in hedge funds to create liquidity, you created a tremendous amount of forced sellers. never did many think that the retail trader could force a systemic move like this but in the events of last week i think you saw that and i think what you're seeing in the moves of gamestop is also that there are a lot of hedge funds and other institutional investors piggyback the trade up and pushing the stock back down, ready to move on. now that we collected our chips, the shakeout and great short squeeze of 2021 the market can get back to normal. they're looking at things like earnings and liqu

digitised yes the new revolution is taking place on line this week when users of the sub read a group wall street bad have put it all on the line in an effort to tear down the walls of wall street they're doing this by going along and buying up the one struggling stock a brick and mortar videogame retailer game stop you see big time wall street hedge funders like melvin capital were short selling the struggling retailer stocks essentially making piles of money betting against the company's success hoping hoping that the game stop would eventually declare bankruptcy and all those visions of dollar bills were dancing in those short sellers heads and that my friends is when the more than $2000000.00 subscribers on wall street bet stepped in and they started buying up game stop stock in droves driving the price of the stock way up forcing these short selling vultures to start bleeding money as c m b c reports a mid game stops explosive rally short sellers have accumulated losses of more than 5000000000 dollars this year to date in the stock including a loss of $917000000.00 on monday and $1600000000.

you want to open up wall street to retail investors.ou say that robin hood's mission is to democratize finance for all. so let's talk about that so yes or no, can a robin hood customer invest in robin hood the company? >> robin ood's currently a private company, so that's not possible no >> and so you mean to tell me that the people that use your platform that make you a successful company and i would say directly contribute to your company's exponential growth and success, they don't get the same access to equity shares as a robin hood employee or your institutional investors, is that correct? >> currently that is correct, yes. >> all right miss schult, let me pivot to you. why is that? why is it that every day investors on the robin hood app, people i would argue contribute to its success, can't invest in robin hood, itself >> the sec limits a lot of investment in private companies to those folks that are known as accredit investors and to become an accredit investor you have to meet a wealth test of earning at least $200,000 a year o

we are going to focus on how fintech and wall street approach this new breed of wall street trader.he u.s. treasury secretary janet yellen has called a meeting of regulators to deal into the events of the past week. on the platform side, robinhood and other silicon valley companies looking to disrupt finance are learning the hard way they need to stress-test the business world financial goals. one committee that poses regulatory liens longer than the others, successful history for paypal, reported earnings after the bell. joe: absolutely. paypal along with crypto, anything like this, fintech, phenomenal window that is part of the story, but not doing a whole lot after hours. romaine: if you care about the numbers, but total payment volume is slightly above estimates. forecast is relatively in line with the midst, nothing earth shattering. when interesting thing, a lot of people were looking at what was going on with crypto and the strategy there. joe: joining us with more insight, the cofounder of the open money initiative and a principal of the venture capital firm slow ventures. t

maria, ilan omar talks about wall street.ed anything, it's that wall street is people who have regular jobs who are sitting at home. trading is everything and what is her idea that she will tax every trade and pay for college and cancel student debt. that means essentially that those people aren't going to have job when they get out of their free college. >> and it doesn't cancel student debt. maria: that too. what about those -- what about the pension fund managers and big-money managers that are handling accounts for the small investor? who do you think will swallow the tax, not the big institutional investor. they will just raise cost on individual investor. the whole thing is obviously not thought out and coming from someone who doesn't understand what beauty and what positive advantages being able to invest in the stock market has done for the average guy in terms of raising their savings and -- and raising creating wealth. >> right. one more thing -- maria: that's always the idea, go to taxes. go ahead, nancy, final wor

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hedge funds extremely wealthy what the wall street bets guys did was they unmasked a lot of that by moving forward does that mean everyone who was part of this wall street bets group was a good person no and this is part of the problem that media plays into is that we try to create a 0 sum game where it's like either you're all good or you're all bad everyone on one side is good and everyone on the other side is bad and it depends on how you view the situation and in the case of robin hood you know when when the c.e.o. sitting there saying we're sorry this happened we're taking steps to make sure it never happens again now you're way too late robin hood as a company should absolutely die it should become a cautionary tale in the future for when you are set up to say we're going to help the little guy and then you screw the little guy you don't deserve to be in business anymore i think that's ultimately what happened to robin hood but is it should be a cautionary tale for all of these kinds of systems that are being set up to decent realize and take power away from from those who are

deutsche bank is beating wall street with a 20% jump in debt trading, double the average of 10%, at walls biggest banks. the german lenders traded 1.4 trillion euros in the final quarter of last year, with liens on the unit to drive growth. the pandemic is hitting oil giant bp with its fourth-quarter sales falling short of expectations. it managed to eke out a modest profit, but it was just a fraction of what it made before the pandemic. refining weighing down the company's performance but ceo bernard looney is predicting better days in 2021. carson block of muddy waters, the short-sellers seller famous for targeting chinese firms, is recognizing familiar behavior in the rally of shares like gamestop. to him, it looks less like the product of reddit-driven traders, and more like hedge funds targeting other hedge funds with a short squeeze. >> this is effectively what happened with gamestop, a democratization of this tactic. i have wondered, especially as we were getting squeezed on gsx, i wonder, is there coordination with these hedge funds? leigh-ann: that is your bloomberg business fla

obviously, wall street bets is not a, not for the faint of heart.oing on there, and the stock is coming off its highs, i notice. but it's still up today. but we should point out that look at the language there, liz. if we get gm if e to 1,000. gme to 1,000. it's not saying this is a company with great business prospects, it's not saying that, you know, the turn-around that has been somewhat spoken about, trying to move it from a retailer in walls to more of an online retailer, that that's going to work. it's not saying any of that. it's talking about if we get. and i think that gets to the heart of the problem here, that this -- the markets, as i've been saying in the past, there are many more touts than there are short sellers. short selling is, is a minority in the markets marley in this market that's -- particularly in this market that's fuel by low interest rates, massive speculation. robinhood free trading apps and the reddit message board that has supplanted wall street research and research in general. i mean, put all that together and you've

has been doing and frankly for the history of wall street really. any brand thanks for having me on i got to tell you i don't think this is wrong and off i have got diamond hands just like all of the reddit people out there on wall street bets and this is got to be the most fun i've ever had trading ever i've been trading since 2009 and in the last week i have had higher heartbeats of excitement and dismay at the same time but i got to tell you being able to watch this as it happens is is so much fun and to participate as well you've got that what used to be around a 1000000 peoples in the reddit wall street gets member community is now over 8000000 people and collectively they are showing the depair of small accounts when combined i mean you really have all these people with who just got their or their stimulus checks and hopefully more in the near future who are banding together and they're buying a stock collectively making the hedge funds who maybe a small portion of them were actually manipulating prices before feel the heat of what it would ta

because guys are getting in because they're trying to play the game that wall street plays as a decent realized mass of people as opposed to one or 2 hedge funds that's what they're doing so it is a totally different game and i know in response to the last time around we saw a lot of censorship hitting reddit hitting some nice facebook pages all of these places where these people are getting together and congregating and sort of conspiring to go and do this much like a hedge fund but on their own we saw a lot of censorship there is a concern then that we're going to continue to see that if they keep doing this so what's interesting about that and glad you bring that up because what happened yesterday was that as game stop shares were being sold in the end the value started going up again because it was being bought right to hurt those short sellers as the value was going up read it and the group the wall street bets group on reddit was positive and locked up so that new messages could not be posted there it happened twice yesterday reddit pretended it was some kind of a technical glitc

on wall street and "squawk alley" is live sn♪ >>> happy tuesday. welcome to "squawk alley."s it game over for the gamestop rally? shares getting crushed this morning. down about 58% along with several other stocks while the major averages are surging. silicon valley, congressman and the dean of evaluations all weighing in on the gamestop and related trades and the continued disconnect in the markets. but that's not all we're watching deidre >> john, we are watching valuation at large over the last few years, startups in this space have raised money at a dizzying space. robinhood and financial services second but the robinhood slowback could raise a question has regulation been an overlooked risk and coulso evals tweeting about his ask me anything on reddit talking about wall street bets right now we will get to that in a moment as we watched gamestop collapse today. dig coslow is with us. dick, always good to see you good morning >> good to hear you guys i would love to be in the studio with you maybe some day soon. >> we are looking forward to that day we are watching gme o

they beat the street, wall street.ouble the average increase of wall street's five biggest banks. double what wall street did. that is spectacular by anybody's benchmark. how did they win? >> it seems like that. yes, they had a good quarter. especially since the last quarter, of 2019 was also pretty good. it seems they were able to extend market share gains they already had and it is looking pretty good for them. annmarie: the last time i saw you, we were at the agm together . there was a lot of anger towards management. what does this mean for the ceo? >> that was fun. it has been an important quarter for him. he has staked a lot of his turnaround success on success in that trading unit. and for them to show a second consecutive quarter of market share gains, that is helpful. he said he is going to carry this over into 2021. if he can pull this off, that will really help him. manus: this will build the story if the price continues to improve that they could be a better and more equitable bed partner with ubs. >> yes,

emily: wall street is cozying up to amazon sellers.nvestors increasingly eyeing popular mom-and-pop brands on the marketplace in hopes of scaling the company or acting as a lifeline for sellers who just don't have the resources to grow businesses outside of their garage. the so-called amazon aggregators have surged in the last quarter as more and more venture capitalists are betting big on the average joe or jane's homemade business. i am joined by the cofounder and president of branded. thank you so much for joining us. you've got money pouring in to these mom-and-pop shops, not just from folks like you. what is so appealing about this idea? >> i think what is appealing is a vast marketplace amazon has invested in and made vibrant and a massive community building businesses and growing. the market place in the u.s. alone is $200 billion and growing year on year. it is really crying for help from companies that can help scale it further. these entrepreneurs have done a great job getting from zero to one. folks like us can help them get

for more on why that stock is wall street's pick and why wall street is a big fan, just go over to cnbc.com>>> coming up and the show, charles charles schwab is cashing in on the beauty boom, and not so sweet for one sweet that new york residents know well. "the ehae"s ckn xcng iba itwo minutes. obsession has many names. this is ours. the new lexus is. all in on the sports sedan. lease the 2021 is 300 for $359 a month for thirty nine months. experience amazing at your lexus dealer. to defend against dark forces attacking your organization, you need to see in the dark. to have the wisdom to understand multiple cyber threats. the precision focus to end attacks instantly. on computers, mobile devices, servers and the cloud. join the world's leading companies in our mission to defend. cybereason. end cyber attacks. from endpoints to everywhere. >> welcome back. and i want to catch you up on a few stories on active fire, and here to catch you up is raheh frank and michael santoli, and pop stocks and retailers can't get enough, and this retail frenzy is boosting the online brokerages not named ro

you can say it's childish to take money you saved on wall street to dunk on wall street, but in the wordsnd very satisfying! when we come back, ibram x. kendi will talk about african-american history that you might have missed. so don't go away. ha. hey, tracee, you can't say no to a classic. oh. i can't hear you over this flamin' hot crunch. girl, you know, wavy chips are way better for dippin'. ♪crispy, airy, tasty poppables.♪ hmm, hmm. i thought we talked about talking to the chips. i can't help it. i love me some lay's. all right, i'm taking these. lay's a little joy with every bag. ♪ i've got some lay's potato chips.♪ check out this one. long hair, loves to hike and plays frisbee... what is he, a labrador? (laughing) so, should i meet him? you're not that adventurous. yes i am! try me. ok... ...jump into that lake. i'll do it. let's all do it! i'm in. this is crazy! (laughing) you coming? seriously? it is way too comfortable in here. the all-new sienna. toyota. let's go places. yeah, i mean the thing is, people like geico because it's just easy. bundling for example. you've got car i

digitised yes the new revolution is taking place online this week when users of the sub read a group wall street bad have put it all on the line in an effort to tear down the walls of wall street they're doing this by going along and buying up the one struggling stock of the. brick and mortar video game retailer game stop is the big time wall street hedge funders like melvin capital were short selling the struggling retailers stocks essentially making piles of money betting against the company's success hoping hoping that the game stop would eventually declare bankruptcy and all those visions of dollar bills were dancing in those short sellers heads and that my friends is when the more than $2000000.00 subscribers on wall street bet stepped in and they started buying up game stop stock in droves driving the price of the stock way up forcing these short selling vultures to start bleeding money as c m b c reports a mid game stops explosive rally short sellers have accumulated losses of more than 5000000000 dollars this year to date in the stock including a loss of night $117000000.00 on monday and

is generated through fraud on wall street just to the uninitiated like myself. is it too simplistic to say that this lawsuit is simply those professionals who incurred enormous losses short trading lashing out at amateurs who made big profits . i think it's about deflecting attention from their underlying lawbreaking and this is a show trial this is meant to distract and to get the headline is to put this guy keith guillen from the cameras and to make it into focus on him that has nothing to do with him the problem is that we've got the major guys on wall street engaged in what's called naked short selling the mid to to engaging in naked short selling that's not disputed and naked short selling means you're counterfeiting stock that doesn't exist and selling it for cash for the sole purpose for the express purpose of manipulating that stock price down and this is the case this is systematic you know hundreds of cases of this and it's a way for hedge funds to make very easy money i would say that melvin capital and citadel capital by comparison they make bernie m

not just wall street." what can congress do and should they be getting involved with reddit and robinhood shortselling? is that something congress to get involved in? guest: i don't know. there are regulations. fair disclosure. you have to come out and offer -- you can't get anybody first dibs material information. it has to be released in one fell swoop. what are they going to regulate? free speech issue. a bunch of people on a reddit community want to risk their own money and take on a group of adult investors who are out there with a riskier than usual behavior in shortselling. as long as there isn't misrepresentation or calling a broker in boca raton to pump this and have mom-and-pop investors on the other side of the trade, i don't see what congress can do. congress wants to have its say and call hearings and say we have to get down to the bottom of it, they try to do it with a flash crash in 2010, markets will market. what can i say? host: let's let viewers take part in the conversation. veronica call

first of all, wall street is always risky.get these markets usually get frothy, a lot of folks say at the end of the big bold moves. this is not unusual. i've been in the business 50 plus years. i've seen this kind of action over and over again. what is different this time is that the government, the sec and congress changed the ground rules about 15 or 16 years ago. they took away the tech rule. we went to december -- dicimels and then pennies. these seeds were planted a long time ago and now we're seeing the end results. it's interesting to see senators or congressmen saying we have to look at this. they created this monster when they changed the entire market structure. you know, i guess it's a case of unintended consequences, maybe 15 or 10 years ago they didn't think they would see this. what we're seeing is just investor interest, which is personified. i don't think quite frankly there's anything wrong with it. this is the market structure. people take a chance. obviously it's risky. it's a big boy's game. you need to pu

wall street hoping they beat, but shares continue to rally.onstellation research founder ray wang. for all the hype over the rally broadening out at the beginning of the year i got to tell you at the end of last week there were far more winners than losers in the s&p, ray but the index we know it can hold up because of those megagrowth names. two of them report this week. will they deliver? >> i think so. i think we're watching amazon. they will have 100 billion-dollar quarter just like apple. one of the areas to look for is their cloud revenues. they have gone from 12 to $50 billion in five years. also look at their ad business. it has gone from nothing to almost 13 billion. it is very interesting to watch that. google has done a great job, watching cloud revenues. forecast for what digital advertising what looks like rest of the year. looks like they will be good. we see what they had to say. they had a ford-google partnership which is sign to come of retail, not retail but industry type partnerships google will be making over the next 12 mo

james freeman, "wall street journal." here is the "fox business alert" on robinhood, the ceo of the company, the "politico" of has the report, ceo is expected to testify before the house financial services committee february the 18th. that should be quite a show. i said we'll talk to ken paxton later on. the financial services committee in the house led by none other than congresswoman maxine waters. vlad, the ceo, will testify on the hill february 18th. >>> the weather today, more than 80 million people are under extreme storm watchinges as the northeast is weighed under snow. a looming strike over chicago schools on a plan to return to in-person learning. we'll have the plans details ahead. a growing push to out of governor gavin newsom is facing a recall vote over his handling of the state's pandemic. the fallout from that later in the hour. nicorette knows, quitting smoking is freaking hard. you get advice like: try hypnosis... or... quit cold turkey. kidding me?! instead, start small. with nicorette. which can lead t

beat wall street.cutives from big hedge funds like melvin capitol being quizzed by lawmakers alongside retail investors. and waters message was there needs to be robust protections for investors and accountability for wall street. find accountability for wall street. and let's no accountability for wall street. and let's go back _ accountability for wall street. and let's go back to come up with your particle had on sir keir starmer has been given his policy agenda commit was meant to kind of shake—up this to well what will be a post covid world, along the lines of the beverage reforms that we heard about. bonds. yes beverage reforms that we heard about. bonds.— beverage reforms that we heard about. bonds. , , . , about. bonds. yes this was a big day for keir starmer. _ about. bonds. yes this was a big day for keir starmer. he _ about. bonds. yes this was a big day for keir starmer. he is _ about. bonds. yes this was a big day for keir starmer. he is had _ about. bonds. yes this was a big day for keir s

that the elites got bailed out the wall street got bailed out in 2008 and now they see the same thing they see what happened in 2020 yes certainly they got a lot of money in ordinary person got sent all sorts of checks and free unemployment benefits and stuff like that but they saw that even more went to wall street and thus the gap between the wealthiest and the rest of us blew wider that's right to money printing created the gap yes and the solution as a print more money which is going to create a bigger gap which is going to drive standoff in miller to go very very short the us dollar if he's going very very short the u.s. dollar and he's also betting on the fastest horse in the very very short dollar bet you know that everybody else is going to fall like we're just telling you you're going to look back on this in a year from now next year i guarantee you you're going to watch this episode 1658 you know. they told me i should have should have listened to them yeah exactly there are more data. than sake of break don't go away recovering back. no insulin would see that and there coul

wall street hedge funds who bet against the companies losing billions.hedge fund even down 53% in january. >> it's really a weird time we're living in. i had never thought i would invest in stocks casually like that. i saw the opportunity. and downloaded the app and did it. >> reporter: they're now criticizing online brokers robinhood which plans to limit the trading of eight stocks to only one share per customer. they claim robinhood, which markets itself a champion of small investors, is favoring wall street titans over small-time traders. but experts say the free trading app got in over its head and couldn't come up with the capital of the trading spree. >> there's nothing unusual or nefarious about how the regulatory rules are kicking in, requiring robinhood to put up more capital. that is all totally normal standard. >> over the weekend the ceo said the trading restrictions are only temporary. kenneth, mona. >> all right, megan, thank you. >>> for the first time the arrest of man who spent living inside chicago o'hare airport. the man is seen here i

who exerted pressure on reddit and discord to take down wall street bets? manipulation to try and accuse your competitors of a bogus, you know, speech claim, disinformation in order to disrupt their lines of communication so that your side of the trade can win that is manipulation so, of course, there's no disinformation here and steve even has to go up there to explain that and we need who tried to weaponize these free speech rules and who succeeded in the case of discord, and it's really too bad that the discord ceo isn't up there, as well to explain what happened. >> david, great to have you back it's john ford it seems to me there is a thintech opportunity here, too, and i'm interested in the idea of democratization, and i'm not sure that's what robinhood represents and there's a gameification of trading versus a democratization of investing, but do you see opportunities in what would be, perhaps more solidly democratization of investing products, innovations that would help there. >> i think robinhood's going to be on the hot seat today because the thi

that is the real wolf of wall street.you would see here on the bbc. a major winter storm has hit the northeastern united states, bringing heavy snowfalls and blizzard—like conditions to new york state, pennsylvania and new england. thousands of flights have been cancelled, schools have been closed and coronavirus vaccinations have been postponed. mark lobel reports. heavy snow and high winds force the state of emergency in new jersey in new york city. flights grounded, vaccination sites shut. with up to 22 inches of snow expected and coastal flooding, inches of snow expected and coastalflooding, the mayor inches of snow expected and coastal flooding, the mayor of new york warns of a new reason to stay—at—home. blizzard conditions. stay off the road, stay off the seeds —— streets and sidewalks. if you can avoid travelling, please do. is this curtain of snow lifts the mood on broadway it is most definitely snow time. in central park, as in europe recently, americans now savouring snow days at a time of otherwise virtual lif

it is sort of a wall street story.is also kind of a tech story because of the way some of these new fintech companies, many of them in your district, started to get into trading. are you concerned about the idea that companies with a move fast, break things in those -- break things ethos may pose a danger when it comes to the handling of their actual money? >> i am in that they need to be regulated. this is not just with fintech. it is more broadly. it has value, but we have seen technology have unintended consequences. my concern is these companies have proper disclosure and proper reserves. robin heard basically had a liquidity problem. they did not provide proper disclosure and they did not have any planning for what would happen if they had missed demand they could not handle. caroline: it is interesting. you put out a statement saying we are done letting hedge fund millionaires treat the stock market like their playground. some of the capital requirements -- do you think it is anything untoward? is there anything

wall street i think will be fine with it.rles: eddie, you like that as opposed to flooding the zone? >> look the market short term will reward this flood of money. i don't think the government will be able to target the stimulus. they should have been doing that from the beginning. they haven't. the bottom line we have two dynamics right now. risk assets get rewarded as money floods in. make no mistake the government is adding fuel to this massive bubble being created. investors need to make sure they have a plan b for when that bubble starts to show signs of cracking. we told our clients possibly fourth quarter, we would be risked, right now risk on trade for the next two quarters because these gdp numbers, the spending numbers are going to blow the roof off. charles: i see #riskon, baby. i see that on a bumper sticker. semiconductors already way off the lows. eddie, i know you're a buyer on the dips. you talked about it. how do you go about deciding hey, this is what i want to buy? i made a list already. i have 25 stocks in

what is the opportunity to change wall street? ipo's have been the model for so long.ow will this add change? howard: it lets private equity investment come in a public wrapper. a public investor can have access to really cool technology early, whether that is auto or bio tech, property text, all of these high-growth opportunities present themselves to the public investor. then they can decide, do they want to invest? they have been excluded from the private equity market, the ipo market, and this is an inclusive model. that is the opportunity. if you have a lidar company, when can the public invest early before they are in cars in 2024? that is what is exciting about the spac market. it democratize us the ipo and private equity market. i think it will do it really well. vonnie: one more question on markets before we move on. you said that this is like tesla, has been around a long time, but i do think there was something different about last week and the momentum. i am curious, is there nothing about the excessive leverage or positioning, retail, hedge fund, or otherw

we have seen improvements in wall street. i am concerned these hearings are going to lead us down the path of additional regulations before we fully investigate the facts. it was stated earlier that may not be the case. i would like to have inserted a bloomberg article daniel waited -- dated january 28 titled gamestop aids show more need for regulations. i think it will be helpful for everyone with the concerns we will be drifting away from the democratization of the finance system. i am a bit disappointed we do not have representation from the sec, especially in the early days of the biden administration. i think that would be helpful and hopefully we will have their per dissipation in future hearing. if i can direct my first question to gabe plotkin, there is a lot of information that came pouring in on gamestop that you held a short position in. people were tweeting about it. do you have any information as to uniquely why folks on twitter and on reddit and others uniquely targeted that stock? mr. plotkin: first of all, tha