I like to keep my audience up to date on what's
going on in the world.
So today, I want to talk about how amateur investors have
exploited the stock market to topple hedge fund managers.
[LAUGHTER]
No, I'm kidding.
[LAUGHTER]
I'm going to show you some cute baby goat videos.
[LAUGHTER]
No, I'm double kidding.
I am going to talk about the stock market.
So if you've watched the news lately,
I'm sure you've heard of GameStop.
A bunch of hedge fund managers were short selling its stock,
so some investors on Reddit used an app called Robinhood to buy
shares and drive up the price.
And somehow, Elon Musk is involved.
He's the guy who invents spaceships, and smokes,
refur with Joe Rogan, OK?
[LAUGHTER]
Now, I'll be honest, I don't understand really any of this.
So I did some research.
So first, I Googled what is short selling.
[LAUGHTER]
And then I Googled what is a hedge fund.
And then, I Googled what is GameStop.
[LAUGHTER]
Then I Googled what is Reddit.
[LAUGHTER]
And then, finally I Googled is it true
that Coca-Cola used to have cocaine in it,
just because I was curious.
[LAUGHTER]
Because someone mentioned it.
Anyway, I think I have it figured out.
So here's the thing.
GameStop is a store at a mall.
It's between the Claire's and the Orange Julius.
[LAUGHTER]
And they sell video games like, Pong, or Frogger,
or whatever the kids are playing.
And because their stock wasn't doing well,
billionaires were short selling it.
Short selling is where you borrow a stock,
sell it for a high price, and then buy it back,
and return it for a low price.
Sounds confusing.
But it's kind of like what I do with the China
at Oprah's house.
So what I do is I go over, and I'll
steal a plate or two, maybe some silverware.
And then I'll post it on eBay and say, Oprah own this.
And then, I'll get like 100 bucks for it,
or something like that.
And then I'll go to Target, and I'll
buy the same plate similar for $5.
[LAUGHTER]
And then the next time I'm at Oprah's house,
I'll just put it in the cabinet and then I'll keep the profit.
[LAUGHTER]
That's with the hedge fund managers
were doing with the stocks.
[APPLAUSE]
Thank you.
A simple way to explain it.
But when the people started buying GameStop,
and then the prices went up, the hedge funds
started losing money.
So this app Robinhood stop people
from buying it, which made a lot of people
angry because it might have been illegal,
kind of like stealing me Oprah's plates.
[LAUGHTER]
OK, now you're caught up.
In case anybody brings it up in a conversation,
you know exactly what's going on.
And you're ready to start investing,
and I'm ready to start the show.