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POSTED ON February 8, 2021  - POSTED IN Original Analysis

The tale of GameStop has much more to say about the current state of investing.”

The central idea in the classic Mel Brooks comedy “The Producers” is that unscrupulous Broadway impresarios could succeed fabulously by creating a play so uniquely awful that it would close on its first day.  Their idea was to oversubscribe shares to investors, to the point where hundreds of percentages of ownership could be claimed. But if the show failed spectacularly, there would be no proceeds to fight over, all the investors would accept that their shares were worthless, and no one would know that they had been conned. The producers could pocket the excess money. The only way they could fail would be by producing a hit.

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