One Thing: Day 334: My GameStop / Robinhood Explanation
Day 334: My GameStop / Robinhood Explanation
Last week I ended with what happened when my Mom stomped on a cockroach in front of my Dad.
It weirdly ended in no bedroom action for a while.
Speaking of weird conversations…
When I was playing hockey overseas, I met a cute Asian girl outside a hockey rink and asked for her phone number.
“Sex! Sex! Sex! Free Sex Tonight”
“Wow… I wasn’t expecting that response but sounds great.”
Her friend says…
“Hey Romeo, she said 666 – 3629”
In other news…
There isn’t a person you wouldn’t love if you could read their story.
Your ONE COACHING THING Today Is:
‘GameStop / Robinhood Explained’
No doubt you’ve heard about Gamestop… but unless you understand the stock market you likely don’t really understand what actually happened.
If you’ve ever heard of a guy jumping off a building due to a loss in the stock market… they likely didn’t lose money on a stock ‘they bet on’…
They were likely what you call “short”.
You can’t sell a car you don’t own.
You can’t sell a boat you don’t own.
You can sell a house you don’t own.
But you can sell a stock you don’t own…
Sounds like trouble to me.
In a nutshell, your downside risk is capped when you bet on a stock.
That means you can only lose what you put in.
When you go ‘short’, it’s possible to have no limit to your downside risk… as in there is no limit to the amount of money you can lose.
You’d think betting against (going short) on a retail business during a pandemic when no one wants to go to the mall, is a safe bet.
Moral Of The Story:
So… the bullies got bullied and here’s a play by play of a conversation I had with my 7-year-old daughter to explain it to her:
Sajey Poo: Daddy, What Happened with GameStop and Robinhood?
Daddy: Well, *sigh* Sajey Poo… remember when I asked if I could borrow your overpriced ‘American Girl’ doll and said that I’d give it back to you in 2 weeks?
Sajey Poo: Ya…
Daddy: Well, my plan was to sell it for $250 to another, sucker, parent like me…
… and then, in a week, when they realized it’s a totally useless, overpriced doll, and their kid would have more fun with an empty cardboard box…. I’d buy it back for $175.
I’d return it to you in 2 weeks like I said and I would and make an easy $75 for doing nothing.
Sajey Poo: *Hands on hips like she learned to do from her Mother* Huh…
Dad: The PROBLEM is, some local parents that I’ve been bullying and taking advantage of for years… met on an online chat room… heard what I was doing and they decided to pool their money together to buy the damn, already overpriced doll, for $500!
Now to honor my commitments I need to match their price and pay $500 for your doll… which means I’ll lose $250 instead of making an easy $75 which I’m used to.
I also need to make sure the price doesn’t keep going up or I stand to lose more and more… maybe everything?!?
Sajey Poo: *hands on hips, one leg straight, and her head is now slightly tilted like she learned to do from her Mother* Well…
Daddy: It’s OK baby I have a solution….
I’m going to wear a black ski mask, go over to each of their houses at night, cut their internet connections so they can no longer log into pool their money together, and raise the price of your ‘American Girl’ doll.
Sajey Poo: *Look of total disappointment and about to give me the silent treatment for a week like she learned to do from her Mother* Well, I hope you learned a lesson, Daddy.
Daddy: Yes, I did baby… I will go to my room now.
But first I need to ensure they’re cut off so I don’t need to pay anymore than $500 for a second-hand doll that I think is only worth $200!
There you have it… that’s what happened to GameStop and why Robinhood halted trading.
MARK MY WORDS…
This story will end with ‘new regulations’ that protect the bullies from this happening again.
When the bullies start getting bullied, they don’t fight fair, they change the rules of the game so they can keep bullying the little guy.
That’s The Establishment.
*Hands on hips like I was taught by my 7-year-old*
Have I told you how much I hate The Establishment lately?
You heard it here first…
FYI if you’re using Robinhood to invest, you are not their customer… you’re their product.
Obsessed with your business coaching success,
Karl Bryan aka King Karl
PS. Learn to sit back and observe… not everything needs a reaction.
PPS. Marriages break up from lack of money… over lack of love X 100.
Business failures lead to destruction, addiction, depression, anxiety, suicides, and unfortunately, far more.
As good business coaches we save marriages, save families, save kids from self-destruction… we save lives!
A true life of purpose.
PPPS. If you’re looking for a proven system to follow for your coaching…. I created business coaching software and high-end step by step training to support it…
It’ll teach you ‘How to find any small business owner $100,000 in 45 minutes without them spending an extra dollar on marketing or advertising.’
Imagine finding your annual $12,000 to $50,000 coaching fees BEFORE you started coaching your new clients?! And a proven coaching system created for you to follow with your new coaching client.
Reply to this post if you want to start following a proven coaching system.
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Karl Bryan gets clients for Business Coaches...period. He is the Founder and Editor-in-Chief of The Six-Figure Coach Magazine and Chairman of Leader Publishing Worldwide, home of the largest private community of Business Coaches (24 countries and counting) in the world.
His goal is straight forward… to help serious coaches/consultants get more clients.