I’ve been waiting to watch “Dumb Money” on YouTube, I’m not sure what took me so long.
Come watch it with me.
Unfortunately, you will have to buy the movie on YouTube, or watch it on Netflix.
I don’t make the rules.
“Dumb Money” is about the GameStop short squeeze of 2021.
We all remember it.
And we pretty much know what the message is going to be, but you’ve spent your time on way worse things this week, so suck it up and let’s get after it!
It may be a bit awkward, but stay with the blog here and follow with my commentary if you like. Obvious spoilers ahead.
At the end, we’ll go over it properly.
Here we go!!
2:00 – They made Steve Cohen fat, LOL
2:20 – So this is what we’re doing with the soundtrack huh? Ok
3:25 – Okay, why is Nick Offerman playing Ken Griffin? What planet are we on? >-D
4:15 – Bro I swear to Christ I thought that was Crypto Lark for a good two seconds. I’m having way too much fun with this movie already.
6:40 – The ol TradFi vs contrarian debate. Boy have we all been there
8:11 – Okay, no. Do you know how many waitresses I’ve known in my day? Not one of them would be the least bit interested in something like this.
12:10 – Why people make live videos with chat on I’ve never understand. 99% of people in chat are complete dingdongs. And you’re responding to them live while actual intelligent people are trying to watch you! I could never.
12:50 – I never watched Roaring Kitty videos, was he ever this awkward and unsure of himself?
17:58 – This is the perfect archetype of a male mask nazi
26:05 – I do like how they’re not holding back with all the language they were using on the forums. They kept it authentic.
30:05 – Interesting scene there. It got so lonely out there, girls were dry-approaching guys. But it was so unusual, most guys didn’t pick up on the cues and just thought the women may have been crazy or awkward. Good scene.
33:45 – Oh they made Vlad suuuper slimy on here, didn’t they? Pretty on-brand actually. Anytime a founder starts talking about upbringing, family, religion etc, run for the hills.
35:25 – She backseat drives EXACTLY like my mother does. Creates panic where there is none. I can’t drive with her anymore. Ohhhh, that’s how the daughter died, okay. I still don’t take it back.
37:50 – The help wears masks while the rich people don’t, we all remember that. It continues on to really highlight the differences between us and them.
40:25 – Again, so on-brand
42:45 – Okay, this was under-the-radar great right here. It never feels real until you officially turn it into fiat, does it?
43:15 – So WTF is wrong with scaling out a bit at this point? Why is this option not on the table??? Pay off the house at the very least
44:25 – That is NOT the signal for Diamond Hands, LMAO
45:30 – So nobody has an exit strategy. They’re just going to wait until Kitty sells. Sigh. They’re trying to make these people the heroes, but they are all the walking definition of “Dumb Money”, Kitty included
48:35 – Sorry, nobody with a head that big is running a 4 minute mile
50:05 – Foreshadowing!
52:45 – He knows they’re not actually rich yet
56:30 – Another great scene. The uber-rich are so disaffected by all of this. Why? Because they’re not over-leveraged into anything. Everyone else in the movie is, including Melvin.
59:21 – The family scene. So good. I’ve been here. They don’t think somebody who did something stupid as a kid is capable of any kind of greatness whatsoever because they never get those images out of their heads. Soooo familiar. Little do they know, it’s kids like that, not the straight A students, who create mini-revolutions. And real revolutions.
59:35 – Mom actually made a really great point there
59:45 – “Don’t do this on your own, you’re not capable. Call the Trad-Fi guy and ask him what to do.” Man this scene is so good. And in all fairness, the Trad-Fi guy would have sold. But how do you convince somebody to do something conventional, when it was his avant-garde ways that got him here in the first place? Good luck with that.
101:20 – Why is everything binary with these people?!! It’s ether hold everything or sell everything, like there are no options in-between.
103:15 – Wow, Mooch looks so young there. Have you seen him lately?
104:00 – How do you even sell knowing what announcing it would likely do at this point?
105:00 – “Hateful and discriminitory content” — the ultimate crutch. Use whenever convenient.
106:30 – His wife is so even-tempered and supportive. What a gem
106:45 – Perfect explanation of the ethos behind a panic-sell. “Nobody is going to hold if they can’t see what he’s doing.” Yet ANOTHER great scene.
107:15 – The music does not match that party at all. Calling BS
109:30 – Bro you’re a billionaire get a nanny
111:05 – Is “Good Time” real? Never heard of it
117:55 – People hate on Pete Davidson, but he’s been good in every movie I’ve seen him in
119:15 – Oh no. This is not female behavior by the way, I don’t believe this part. They wouldn’t be dumb enough to double down here
120:50 – The lawyers are definitely not wrong
124:20 – Oh Jesus, Maxine Waters. She can barely read
127:00 – AOC actually sounds quite lucid and intelligent here
127:45 – I was waiting for him to say this. I do remember that part. If anyone has forgotten, he was trolling, and referencing this video which happened not long before the trial
133:15 – Well look who scaled out! The last guy we would have expected to. When you learn how to take profit, you get to tell the corporate world to fuck off, it’s great. Ask me how I know.
133:30 – So wait, they sold too? All of it? I need to know this!!
134:45 – But a lot of people still use it unfortunately
135:15 – Good lawyers and political connections will do that for you
135:55 – That was the smartest move he ever made
136:10 – Have they? It’s only a matter of time before they go back to their old ways — with new fail-safes in place
What a movie! Perfectly cast, with so many great scenes we can (should) al relate to. I can see why every financial podcaster and YouTuber I like was raving about it.
Biggest lesson of the movie is to take profit. You don’t have to sell it all. I feel like this is an obvious thing to say, but I also think how a lot of people in the movie weren’t aware of this option is apropos as well.
If you know any of this, you are already in the top .1% of human beings, I keep telling you this. Don’t be afraid to actually use this knowledge, and ascend to the .1%. It only works if you apply it.
The only investor who got rekt was the nurse lady who didn’t sell anything.
Crypto people, take note. If you’re in debt, for the love of God sell some crypto and get out of it. It’s the biggest W out there.
NFA
But anyway, thanks for watching “Dumb Money” with me this morning. Hope you enjoyed it too.
— VP