Episode #28 “The Lasting Impacts of Game Stop”

With Preet Banerjee and David Lewis Preet's Bio: Originally trained as a neuroscientist, Preet now excels within the world of finance. Preet has been featured on the CBC’s National, The Morning Show on Global, the Globe and Mail, his own youtube channel and his own podcast mostly money. Preet is the founder of a Fintech company called MoneyGaps. David's Bio: David Lewis is the President of Research Institute at BEworks. He earned his PhD in Marketing (Consumer Behavior) from the Lazaridis School of Business and Economics at Wilfrid Laurier University. He completed his MBA in Finance and Strategy at the Schulich School of Business at York University, and is also a Chartered Financial Analyst. Highlights: What is a short squeeze? What impact does it have?Why Game Stop’s short squeeze gained so much attentionThe effect of zero cost trading on our behavioursHow the gamification is investor behavioursHow the sub-Reddit groups celebrate lossesThe parallels between Game Stop and the insurrection at the capitol buildingThe impact our behavioural biases have on our financial livesThe importance of a financial process to combat behavioural biases Behavioural Finance Terms: Overconfidence biasConfirmation biasEndowment effectDunning Kruger EffectThe Illusion of Explanatory DepthThe Muller Lyer Illusion Quotes: “This is not investing; this is gambling” Preet Banerjee“It’s like being tossed around in a canoe in a tsunami,” Preet Banerjee“It’s not a fair game on Wall Street” David Lewis“87% of people don’t have an advisor or ignore their advisor” David Lewis Links: Preet’s Game Stop Video on Shorts and Short Squeezes explained CLICK HEREPreet’s Podcast Mostly Money CLICK HEREPreet's Personal Finance BookDavid Lewis' site BEworks CLICK HERE