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Imprint: Penguin Business
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Published: 26/01/2023
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ISBN: 9780241572566
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Length: 320 Pages
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Dimensions: 198mm x 35mm x 129mm
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Weight: 500g
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RRP: £10.99
The Revolution That Wasn't
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How GameStop and Reddit Made Wall Street Even Richer
The definitive story of the GameStop short squeeze and the real architects - and winners - of a rigged game.
'Jakab adeptly skewers the popular but dangerously wrong narrative of Reddit's David thumping Wall Street's Goliath' Robin Wigglesworth, author of Trillions
Wall Street Journal columnist Spencer Jakab tells the dizzying story of how, in January 2021, a motley crew of retail traders on Reddit's r/wallstreetbets forum seemingly achieved the impossible - bringing some of the biggest, richest players in finance to their knees.
And yet, as this book shows, the GameStop short squeeze, which made headlines around the world, ultimately exposed a powerful truth: what appeared to be a watershed moment - a revolution that stripped the ultra-powerful hedge funds of their market influence - only increased the chances of the house winning.
The Revolution That Wasn't is a gripping account of how a group of small-time investors took on the might of Wall Street, and nearly won.
'An unputdownable post-mortem of the freakiest tale of pandemic-age finance' Gian Volpicelli, Senior Editor, Wired
'The saga of GameStop and other meme stocks is revealed with the skill of a thrilling whodunit' Burton G. Malkiel, author of A Random Walk Down Wall Street
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Imprint: Penguin Business
-
Published: 26/01/2023
-
ISBN: 9780241572566
-
Length: 320 Pages
-
Dimensions: 198mm x 35mm x 129mm
-
Weight: 500g
-
RRP: £10.99
Reviews
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Jakab adeptly skewers the popular but dangerously wrong narrative of Reddit's David thumping Wall Street's Goliath, and shows how the casino always wins in the end.
Robin Wigglesworth, author of Trillions
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Ever since the GameStop saga erupted into the headlines in the winter of 2021, we've all been waiting for the definitive take. This book is it.
Bethany McLean, bestselling co-author of The Smartest Guys in the Room and All The Devils Are Here
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The saga of GameStop and other meme stocks is revealed with the skill of a thrilling whodunit. Jakab writes with an anti-Midas touch. If he touched gold, he would bring it to life.
Burton G. Malkiel, author of A Random Walk Down Wall Street
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The real story of the GameStop short squeeze. Jakab walks us through every twist and turn with nuanced insight and sheds a clarifying light on the shifts happening in today's retail revolution.
Jaime Rogozinski, founder of Reddit’s WallStreetBets
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An unputdownable post-mortem of the freakiest tale of pandemic-age finance - and of how investing became gamified. Jakab speaks with the key characters and highlights the structural issues, deploys the nihilistic "degen" jargon and recounts priceless anecdotes, cutting through the narrative to tell us what really happened during the GameStop short squeeze
Gian M. Volpicelli, Senior Writer, Wired
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A gripping account of the social movement that took over the investing world in 2020-2021. The heroes here thought they were sticking it to the man, but became the man's stick. Jakab tells this story with warmth and humor, making financial concepts accessible to a lay audience. You will be entertained.
Scott Galloway, Professor of Marketing at NYU Stern School of Business, and New York Times bestselling author of The Four and Post Corona
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A timely and hugely important book. The GameStop saga shows what happens when the little guy takes on Wall Street at its own game: there can only be one winner. Spencer Jakab is a top-drawer journalist who understands this industry inside out. I can't recommend this book highly enough.
Robin Powell, journalist, author and editor of The Evidence-Based Investor
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An important look at how markets - and people - defy prediction and occasionally lose their minds.
Morgan Housel, bestselling author of The Psychology of Money
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When an ailing video games retailer saw its shares soar into the stratosphere for no reason other than that newbie traders wanted to put one over on arrogant hedge funds, it was hard not to cheer David's felling of Goliath. But in this meticulous examination of the Gamestop saga, Spencer Jakab reminds us of a simple truth - the house, or in this case Wall Street, always wins in the end.
Rory Cellan-Jones, former BBC technology correspondent
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Thrumming narrative ... Anybody who buys and sells stocks, and anyone who "invests" in anything old or new, should read this book.
Los Angeles Times
