Some Things I’m OK With Being Boring

“The monotony and solitude of a quiet life stimulates the creative mind.”

• Albert Einstein

Much has been made in some circles about what happened recently in a portion of financial markets.

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Investors/speculators ran up the price of GameStop (GME), a bricks and mortar purveyor of, among other things, video games. Its 52-week low was 2.57. Its 52-week high? 483.

It’s now trading in the 60s.

Considerable sums have been made. And lost.

But not by me.

At least partly at the goading of Wall Street Bets, some people, particularly at the platform Robinhood, sought to squeeze short traders (including those running hedge funds) and perhaps, in the process, enrich themselves. They were outraged when Robinhood suspended buying for the little guy, permitting trades only by larger traders, such as hedge funds managers.

Something didn’t smell right, and it wasn’t because of COVID-19.

Congress got interested and called for investigation. That episode made temporary bedfellows of people as disparate as AOC, Ted Cruz and Donald Trump, Jr.

Then there’s stocks such as Tesla (TSLA). Its 52-week low was 70, high 900. It’s currently trading in the 850s. Again, considerable sums…