Are you a stock investor like Jonathan? What topped the local news this week might've caught your eye. Prior to Covid, Gamestop was already suffering from slow sales due to online gaming and when Covid hit, that was almost the final proverbial nail to its coffin. So it was not surprising that some hedge fund managers thought it was a sure “bet” to short the stock. However, the tables turned on them when a chat group on reddit took it personally and started buying the stock boosting the price by almost 600% at one point. Hedge fund managers who went short lost 100% (and possibly more to this day) of their money. Obviously, news outlets went viral on this story. The case of David vs. Goliath, justice from the mob as per this news article from CTV News
https://www.ctvnews.ca/.../fight-the-man-what-gamestop-s...
However, this also brings up the age old question about the fine line between investing and gambling. In an interesting podcast from NEWS 1130 , senior business editor Mike Eppel said that investing in stocks IS gambling in his podcast below:
https://thebigstorypodcast.ca/.../what-the-heck-just.../
In this week’s live IMCO, Jonathan provides his Christian opinion on investing in stocks since he too invests in stocks. Is it gambling? Is it just another way of being good stewards? Or is it just another practical way to save for retirement and a rainy day?
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