Macro Man Vs. YOLO Boy

Like a lot of parents these days, Cameron Crise is dealing with a teenager at home who wants to get into day-trading and reap the type of the windfalls boasted about by the WallStreetBets crowd. Crise, a former hedge-fund trader and now a strategist at Bloomberg who writes the “Macro Man” column, had a novel way of handling the situation. Inspired by the classic movie “Trading Places,” he proposed a $1 bet on where GameStop shares were headed and another wager that his son Patrick could not double his money in three days with some Reddit-inspired paper trading that didn’t actually put any of the son’s – or more importantly, father’s -- money at risk in the market. Who won this battle of Macro Man vs. YOLO Boy? Tune in to find out! Mentioned in this podcast: Meme Stocks Lose $167 Billion as Reddit Crowd Preaches Defiance Reddit’s Market ‘Hype Machine’ Is in a Quest to Drive Out Bots Learn more about your ad-choices at https://www.iheartpodcastnetwork.com