ALPHABET, MICROSOFT ON
THE DOWNSIDE.
LIMITED BACK TO
GAMESTOP, CURRENTLY UP
85% AT $170 A SHARE.
WE BOWLED CEO, ANTHONY
DENIER IS WITH US NOW.
IS THE RETAIL INVESTOR
ORGANIZED ON SOCIAL
MEDIA AND I WANT TO KNOW
HOW POWERFUL THIS NEW
FORCES IN THE
MARKETPLACE.
>> AS WE CAN SEE IN THE
PRICE IS GOING ON IN
SOME OF THESE REDDIT
NAMES EXTREMELY POWERFUL
RETAIL INVESTOR ONLY A
COUPLE YEARS AGO
REPRESENTED A TINY
FRACTION OF THE VOLUME
IN THE MARKET AND NOW
THE RETAIL INVESTOR IS
TAKEN UPWARDS OF 20% OF
THE TOTAL BIND THE TRADE
OF THE MARKET AND
SPECIFIC NAMES MORE THAN
NOT SO QUITE A BIG
FORCE.
STUART: WHAT ABOUT STOCKS AND
COMPANIES OUTSIDE THE REDDIT
BRIGADE?
I MEAN, WHAT I WOULD
CALL ORDINARY STOCKS, DO
THEY HAVE ANY INFLUENCE
THEIR?
>> OF COURSE THEY DO.
THEM A LOT OF INFLUENCE
AND NOT ONLY IN THE
MOVES THAT INDIVIDUAL
STOCKS TAKE, BUT IN THE
WAY THAT THE STOCKS ARE
TALKED ABOUT ON SOCIAL
MEDIA AND THAT
INFLUENCES THE COMPANY
OF THEMSELVES SO RETAIL
INVESTORS ALWAYS HAD A
HUGE IMPACT, NEVER HAVE
WE SEEN THE CALL FOR THE
FINANCIAL LITERACY AND
SOCIAL MEDIA CAN
TOGETHER LIKE WE’VE HAD
OVER THE PAST SEVERAL
MONTHS.
OF COURSE MOST FAMOUSLY
IN THE LAST COUPLE OF
WEEKS.
STUART: HOW WOULD YOU DEFINE THE
DIFFERENCE BETWEEN SOMEONE OF MY
GENERATION, A BABY BOOMER, AND A
MILLENNIAL WHEN IT COMES TO
INVESTING?
WHAT’S THE DIFFERENCE
BETWEEN THESE TWO
GENERATIONS?
>> QUITE A BIG
DIFFERENCE.
THE TOOLS YOU HAD WHEN
YOU WERE STARTING OUT ON
YOUR FINANCIAL JOURNEY
ARE COMPLETELY DIFFERENT
THAN THE TOOLS TODAY’S
MILLENNIAL TYPE INVESTOR
HAS.
THE TECHNOLOGY HAS
CHANGED, ACCESS HAS
CHANGED AND MOST
IMPORTANT EDUCATION ON
HOW THE MARKETS WORK.
IT’S COMPLETELY
DIFFERENT.
TYPICAL BOOMER WOULD
HAVE GIVEN THEIR ASSETS
TO SOMEONE ELSE TO
MANAGE AND PAY THEM A
FEE NOW IS THE WAY IT
WAS KIND OF ALWAYS DONE.
LIKE YOU GUYS AREN’T
SMART ENOUGH, WE ARE THE
SMART ONES AND WE KNOW
IS GOING ON, GIVE US
YOUR MONEY.
THAT’S TURNED ON ITS
HEAD AND NOW, WE TELL
INVESTORS HAVE THE SAME
INFORMATION THAT
INSTITUTIONAL INVESTORS
HAVE.
MAY HAVE ACCESS TO THE
MARKETS LIKE NEVER
BEFORE AND THEY CONTROL
THAT.
STUART: THEY ALSO HAVE A LOT OF
SPARE CASH, I MEAN, WE JUST
HEARD FROM ED THAT YOU HAVE FOUR
OR $5 TRILLION JUST FLOATING
AROUND OUT THERE.
IT HAS TO GO SOMEWHERE
AND SOME OF IT’S GOING
INTO THE MILLENNIAL’S
POCKETS AND INTO THESE
STOCKS, I MEAN, WITH
THIS WE HAPPENING IF WE
DIDN’T HAVE SO MUCH CASH
FLOATING AROUND?
>> THAT’S HARD TO
SPECULATE, BUT OBVIOUSLY
WITH THE STIMULUS AND
THE STAY-AT-HOME ECONOMY
PEOPLE ARE SPENDING LESS
MONEY ON TRAVEL AND
LEISURE.
THEY HAVE MORE TIME ON
THEIR HANDS SALON
MOORE’S GOING INTO THE
MARKET WE ALSO HAVE A
FEDERAL RESERVE SYSTEM
WITH INTEREST RATES AT
NEARLY ZERO, SELECT IS
THE POINT OF PUTTING
YOUR MONEY IN A SAVINGS
ACCOUNT TO GET ZERO
INTEREST CRACKS WE SEE
THE STOCK MARKET MAKING
NEW ALL-TIME HIGHS FOR
THE LAST 12 YEARS
STRAIGHT.
YOU ARE MISSING OUT ON
WEALTH CREATION IN THIS
NEW GENERATION SAYS WE
ARE NOT MISSING OUT
ANYMORE THEY’RE GETTING
INVOLVED IN THE MARKET.
STUART: HOW DO YOU PUT A VALUE
OF STOCKS LIKE GAMESTOP, THOUGH?
IN MY GENERATION, LOOKS
TO THE COMPANY IN THIS
UNDERLYING BUSINESS, IS
THERE VALUE THEIR, THE
CURRENT GENERATION,
MILLENNIAL’S, THEY SEEM
TO LOOK AT GAMESTOP AND
SAY EVERYONE WANTS TO
BUY IT SO I WILL INVEST.
HAD TO ESTABLISH REAL
VALUE HERE?
>> I THINK EVERYONE KIND
DEGREES THAT
FUNDAMENTALS HAVE KIND
OF WALKED OUT OF THE
GAMESTOP STORY.
THIS IS MORE OF A
TRENDING SCENARIO.
I DON’T SEE HOW LONG IT
WILL LAST, BUT IT’S IN
THE NEWS AND IT’S
HAPPENING NOW AND
MOMENTUM IS MOMENTUM AND
YOU DON’T FIGHT THAT.
STUART: WHAT TO DO YOU SAY TO
THE IDEA THAT SOONER OR LATER
THE LITTLE GUY, THE RETAIL
INVESTOR, GETS LEFT HOLDING THE
BAG AND LOSES, WHAT’S YOUR
RESPONSE TO THAT?
>> WE HEAR THAT A LOT
ESPECIALLY IN OUR
BUSINESS AND I THINK
THAT KIND OF IS
SHORTSIGHTED.
WHAT THESE NEW RETAIL
INVESTORS-- AND WE CALL
THE NEW BECAUSE WE JUST
HAVEN’T SEEN THIS
BEFORE, THEY ARE GETTING
EDUCATED ON HOW THE
MARKETS WORK WITH HER
STACK OF IT PLUS TWO
WERE TALKING ABOUT
FUNDAMENTALS OF A
COMPANY OR DIVIDEND
REINVESTMENT PROGRAMS.
THESE ARE THINGS THAT MY
GENERATION, 10, 15 YEARS
AGO NOTHING ABOUT AND
NOW IT’S GETTING LEARNED
, SO IF THERE IS
ANY SORT OF BUBBLE BURST
OR SOME SORT OF CRASH
AND PEOPLE LIKE YOU SAY
IN UPHOLDING THE BAD,
THEY GET TO WALK AWAY
WITH A GREAT EDUCATION
AND WE HAVE BEEN DOING
THAT IN THE UNIVERSITY
SYSTEM FOR THE LAST 200
YEARS.
STUART: YOU GOT THAT RIGHT.
ANTHONY DENIER, COME
BACK SOON PLEASE BECAUSE