EXCELSIOR CAPITAL PRESENTS

The Revolution That Wasn't

How has technology impacted modern finance and created an asymmetrical relationship between Wall Street and individual investors? In this episode, we speak with Spencer Jakab, the author of The Revolution That Wasn’t and editor of the Wall Street Journal’s Heard on the Street column.
Go Beyond Marketing and Create a Better Customer Experience

Podcast: The Revolution That Wasn’t

How has technology impacted modern finance and created an asymmetrical relationship between Wall Street and individual investors? In this episode, we speak with Spencer Jakab, the author of The Revolution That Wasn’t and editor of the Wall Street Journal’s Heard on the Street column. Spencer dives into the differences between Wall Street and a casino, outlines the risks of being an active investor on Wall Street, and looks at how technology has created an environment where trading stocks is no longer expensive. He emphasizes the importance of long-term investing with tools such as index funds or compound interest to build wealth without playing ‘the game’.

Key Highlights

[00:01 – 07:00] Opening Segment

  • From Wall Street Trader to Financial Journalist: Spencer Jacob’s Journey
  • How he learned about finance and got a job in emerging markets
  • Introducing The Revolution That Wasn’t

[07:01 – 13:40] Examining the GameStop Revolution

  • How the pandemic provided Spencer an excellent opportunity to start a side project
  • The genesis of the book
  • The GameStop stock surge
  • The initial headlines about the GameStop surge

[13:41 – 20:37] Exploring the ‘Meme Stock’ Phenomenon

  • The story about meme stocks
  • Meme stocks went way beyond their fundamental value
  • Examining the meme stock squeeze
  • Short selling is a legitimate practice where people bet against stocks without owning them

[20:38 – 27:44] Wall Street: Not a Casino, But a Place to Build Wealth

  • Young Reddit traders made money, but they were net contributors to already rich people
  • Wall Street is mainly made up of intermediaries who are not taking risks with their own money
  • Wall Street is not a casino, but it can be marketed as one
  • The correlation between the level of activity and returns

[27:45 – 35:01] The Revolution That Wasn’t

  • Trading used to be expensive, but technological change has democratized finance
  • The “zero price effect.”
  • People consume more of something when it is free
  • The pandemic caused record volatility in the stock market, leading to an increase in trading activity

[35:02 – 42:16] The Missed Opportunity

  • From the bear market low to one year after, 96% of American stocks rose
  • Stocks that were popular in Robinhood did better than more established stocks
  • The credibility of older, wiser investors vs. the success of younger, social media-savvy investors
  • The gamification of investing

[42:17 – 52:20] Closing Segment

  • How to beat Wall Street and participate without playing the game
  • Technology has lowered the cost of investing, allowing for more market participants
  • Wall Street can be a place to build wealth over the decades with the right approach.

Additional Links:

Brian’s Linkedin: https://www.linkedin.com/in/brian-c-adams/

Previous Articles

the-ultimate-guide-to-commercial-real-estate-investing

The Ultimate Guide to Commercial Real Estate Investing

Learn everything you need to know to assess the benefits of a commercial real estate investment and make the best decisions to get started.

Navigating Interest Rate Uncertainty Strategies for Institutional Real Estate Joint Ventures JVs

Navigating Interest Rate Uncertainty: Strategies for Institutional Real Estate Joint Ventures (JVs)

The Federal Reserve’s 2025 policy will balance economic growth and inflation control. Factors influencing policy include tariff-driven inflation…

Trumps Tariffs in 2025 A Game Changer for Industrial and Shallow Bay Real Estate

Trump’s Tariffs in 2025: A Game Changer for Industrial and Shallow Bay Real Estate?

As the U.S. economy adapts to a broad round of tariffs under the Trump administration in 2025, industrial (bulk and shallow bay) real estate are poised for significant changes.

Emerging Trends in Real Estate Investment for Institutional Portfolios

Emerging Trends in Real Estate Investment for Institutional Portfolios

As the first few months of 2025 have shown, the real estate investment landscape for institutional portfolios is undergoing significant transformation.

Tax Season Preparation for Real Estate Investors

Tax Season Preparation for Real Estate Investors

Whether you’re an individual filer, a business owner, or managing investments like real estate, proper preparation can help you maximize deductions and stay ahead of key deadlines.

From Challenge to Opportunity 2025 Commercial Real Estate Outlook

From Challenge to Opportunity: 2025 Commercial Real Estate Outlook

As we move into 2025, investors are entering the new year with cautious optimism. While the last two years have presented challenges, there’s a growing sense…

Why Industrial Outdoor Storage IOS Is the Next Big Trend in Commercial Real Estate

Why Industrial Outdoor Storage (IOS) Is the Next Big Trend in Commercial Real Estate

The Industrial Outdoor Storage (IOS) asset class has rapidly emerged as a key player in 2024. With a market valuation of $200 billion…

Does Real Estate Deserve a Larger Role in the Ideal Future Portfolio

Does Real Estate Deserve a Larger Role in the Ideal Future Portfolio?

Investors should be prepared for equity returns during the next decade that are towards the lower end of their typical performance distribution relative to bonds and inflation.

Understanding Common Real Estate Investment Structures

Understanding Common Real Estate Investment Structures

A Guide for Accredited Investors. Explore some of the most common real estate investment structures and how they work.

Excelsior Capital

A real estate private equity firm that owns and operates high quality multi-tenant office assets in emerging secondary markets.

Interested in learning more about Excelsior's investment opportunities?

Excelsior Capital

104 Woodmont Blvd, Suite 120
Nashville, TN 37205

investors@excelsiorgp.com

Disclaimer: Under no circumstances should any information presented on this website be construed as an offer to sell, or solicitation of an offer to purchase any securities or other investments. This website does not contain the information that an investor should consider or evaluate to make a potential investment. Other materials related to investments in entities managed by Excelsior Capital are not available to the general public.

Share This