Today i watched one of the stupidest things i think i've ever seen in my entire life, ken griffin went on uh the news to talk about the meme phenomenon of phenomena and how it is retail's fault that you've witnessed teachers. Pension plans uh get completely obliterated as melvin capital has gone under. I want to go over this today because this is obviously drastically different than uh the reality of the situation, guys one of the trades trades where we can talk faster. Those complaints like by saying that i'm going to finish advising our expert, so they would say the green assault.

Let's get into it, we're going to start off with this right. We got to watch this video, so you guys have some context behind uh what this is uh and how how ludicrous that it really is and we're going to dissect each of the the things that he says uh within this video. What's the overall thinking on these retail investors, though, is it? Are they back? Was it a black swan? Is it something you mean the whole sort of means phenomenon? It's probably a moment in time. You know we i mean replay the history.

You've got these. This enormous stimulus program from the federal government sending checks to to tens of millions of american households and a fair number of those households did not need the cash they put it in the stock market and and people were looking for connection. They were looking for. Somebody involved in you had the rise of the wall street bets and the whole reddit phenomena, and i don't want to say our stock market devolved into entertainment.

But there was certainly an entertainment dimension that came into play with money that that was, in some sense, just dropped out of the skies into people's walls and and they took a run at the stock market and gamestop and amc and dozens of other meme stocks. I'd like to think it was a moment in time, so i'd like to think that's the case. It's not how capital information works best and, frankly, a lot of it came from a place that i don't think it was very healthy, which is like. Let's, try to you know, take a firm like melbourne and put them into bankruptcy like great, so you you basically help wipe out the pension plans of teachers.

You feel good about that. It's like gabe's money that you're taking down you're, taking down the money for a pension plan that belongs to a teacher. So i don't, i don't think was a very. It wasn't a very good moment in american capital markets history, but i think you have to replay history and go where were we as a country and people were locked up in their basements kind of losing their minds.

So it's a covert phenomenon. It's a co-phenomena. Have you been on wall street, but of course i have, and there are some great videos from trying to attack citadel. I noticed that we always seem to stand in the end, but there's some really great videos done such as such as everyone's going to google.

Instead of listening to what you have to say, go google and have fun on wall street bats entertain yourself. So there's a couple key things that you talked about. Essentially, if we were to draw out a road map of what took place according to ken griffin, when retail investors came to the stock market, there's a piece of it that i think he's he's right about and then there's a large portion of it. That, i think he's wrong about.

I think you go back uh to to covert 19 and when everything really hit the fan - and you finally got stimulus money that started hitting people's banks, account bank accounts right. What do you think happened there? Uh? It's! It's pretty straightforward people had some extra money, the people who did put it into stocks right lots of new money came into the stock market, and this is not just retail investors by the way to say that this is just retail. Investors is just a flat out. Lie uh, but some of it sure was from retail.

A large portion of it, however, was from banks and institutions, and you can see this by looking at the reverse repurchase agreement market and how much new money the banks are holding on to in case. You don't believe me, let me just pull this up. You can check out the chart for yourself. It's pretty egregious how much money uh banks currently hold right margin.

Debt is hit all-time highs, margin, debt coming from uh leveraged capital, coming from lots of money being printed. Uh coming from banks so sure we can. We can almost say that that piece of it's right, lots of new money came in from retail lots of new money came in from banks and institutions, whatever back when gamestop made its first run from five dollars all the way up to 500., what happened is melvin Capital happened to be short on a very large portion of it. The stock was sorted over 100 and ortix data verifies it.

They can say themselves that over 100 of the company was shorted uh compared to how many shares actually exist. They got squeezed melvin, who happened to be a part of that over 100 shorted stock got smoked. You can see this. You can come back over to some uh, some different articles and read up and what you're going to find is melvin capital hedge fund, that bet against gamestop lost more than 50 in january.

This is looking back uh to 2021, when melvin got absolutely steamrolled. Now the important thing to note here what ken griffin said, which is just flat out egregious and stupid and honestly maddening - is that apparently it's retail's fault that melvin capitals, clients so to speak. The teachers with pension plans, the people with 401ks uh got smoked right now. If i was to make an argument, if i was to make some sort of uh uh comparison or or an analogy for this, it's like if somebody stole your money right, somebody steals your money and then uh they come up to you.

You don't know that they stole your money and they say: hey man, i heard you got your money stolen you mind. If i help you look because it just makes, you look the least suspect the easiest way to shift blame to. Somebody else is to say that it wasn't your fault. It was this person's fault to claim that retail is the reason why teachers are losing their pension plan.

Funds is just ridiculous. I mean honestly, it's it's it's maddening, because what did retail do? They bought a stock that they liked? They tried saving a company that they liked that melvin capital was trying to bankrupt. What about the people that worked the game? Stop we do we going to talk about that, we're going to talk about putting people that have living jobs out of commission because 401ks are important sure they absolutely are. Everyone wants to retire, but you can't retire.

If you don't have any money to begin with, you can't even put money into a retirement plan. If you don't have money, what about those guys? What about the blue collar workers about the guys at gamestop that are trying to make ends meet yeah yeah yeah gamestop is going to go bankrupt, but that's not up for hedge funds to decide that's up to the market to decide not up to them right. What about that, at the end of the day, this is what happened very simply: put melvin capital decided they wanted to over leverage themselves short, a stock over 100 percent, and they got busted and they played with ego. They didn't play by the rules that apparently we were supposed to follow because us retailers so stupid and they lost 50 percent of all value across all their accounts.

And what that comes down to is one simple thing: they were playing with their damn ego: they're gambling, the money there's no way to put it when you go bankrupt right. This is the best way i can say it is when you are in the market you're. Getting smoked right, there's always a buy button and there's always a sell button. At the end of the day, you choose yourself whether you want to buy, or you want to sell anything the market's always going to do what the market's going to do, and what you're going to find is that people every single day across the market are making Money every single day, you know why? Because it's all about how you react to the market, it's a tool, it's an instrument and melvin capital up and they lost a bunch of money and they put teachers out of their pension plans.

They did just like other hedge funds and institutions that banks did back in 2008. Just like happened back in the 1930s. I don't understand, what's so complicated about that and honestly it's just it pisses you off man, it pisses you off, because these are good everyday working. People that are unsuspecting and after they're they're doing what they're told from a young age.

They tell you, put your money into a 401k or a roth ira, or put it into this hedge fund, because you're too stupid to do it yourself, which in reality actually meant hey. Let us manage your money, even though we're not much smarter than you and rely on computers that apparently making this override at any point in time. So we can do whatever the we want. Anyways nah man such a cold, take such a cold.

Take man! It's it's! Frustrating to see this, and i really wanted to double down on that uh and remind you guys there are things that are different. Now right stimulus money has certainly it's done bad things for the economy. I think we can all agree on that. The short term is a good band-aid uh, but it was a band-aid to uh, a shutdown uh that ultimately flushed the economy right and most of the money that should have been sent to us as people for the people who actually needed it got sent to banks.

They didn't even get sent to you, not your fault. You are reacting you're, trying to surf the wave of these guys and, at the end of the day, melvin capital was in charge of their own stupid decisions and ken griffin uh. At the end of this video, i i want you guys to remember this. He pays attention to wall street bets.

He pays attention to to reddit pays attention to twitter. He watches what we talk about. So i'll. Tell you what ken griffin, if you're, watching my video you that's what i got.