Every ten episodes, the WHOA GNV podcast creates a mastermind episode to dive into a topic with multiple people and a little more time. After recent guests fueling Collin and Mike’s fire for money management, it was clear what the 140th episode would be — investing.
Joining them for their mastermind on all things money (investing, day trading, cryptocurrency, etc) is Eric Lenasbunt, James Di Virgilio, Alex Quintero, and Stephen Courson. The group has a wide range of expertise; wealth management, food truck ownership, podcast hosting, entertainment business, and property investment. But ultimately, what they all have in common is a desire to learn and grow in their personal (and professional) investment abilities.
“Anyone who’s been investing for two years and says they’ve got it all figured out is either extremely lucky or an idiot.”
Of course, a group of like-minded individuals who are all active within the investment space can’t sit around a table and not discuss the recent happenings regarding Game Stop and Robinhood. James compared the situation to a poker game, analyzing how putting pressure on a weak position, while maybe not foolproof, is often how these large moves are made. Bold? Absolutely, but it can work.
Stephen touched on market manipulation, pointing out how interesting the entire Game Stop and Robinhood scenario was socially, from both the investors’ side of things and Robinhood’s handling of the circumstance.
“You can’t really rely on these systems. Socially, this was a kind of awakening.”
Alex, admittedly “not an industry guy,” noted the social revolution that occurred when millions latched onto the concept on Reddit.
“You go on these threads, after hours, and the community that’s going on — you’ve got people cheering themselves on for holding hundreds of thousands of dollars.”
Eric, who started trading more seriously when the pandemic began last spring, has personally experienced the weight of each stock in the market. The volume of individuals who have turned their focus on trading has made each day fascinating, resulting in billions of shares sold within a day instead of hundreds.
“It’s like going to your local grocery store and instead of seeing the normal amount of people there, you see a stadium full of people buying groceries.”
Everyone could agree that the COVID-19 pandemic, with less predictability regarding stable jobs and income, gave individuals a chance to dive into aspects of investing that interested them. Even if they weren’t particularly drawn to a niche, a group mentality is quick to shift gears and stir excitement, bringing new players into the investment world every day.
“None of this is new — there have been manias in every culture, every country, ever…people are prone to getting excited and running into these movements.”
Listen to the 140th episode of the WHOA GNV podcast to hear more insight from these financial experts and entrepreneurs.
