Remarks
Hey, GameStop Traders, Buying to Push the Price Doesn’t Work
Better to buy early and let others push the price for you, says Lasse Pedersen.
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The investment newbies who lost money speculating on GameStop Corp. shares made a classic mistake: They tried to push up the share price through their own purchases.
That did not work and never has, says Lasse Pedersen, a finance professor at Copenhagen Business School and a principal at AQR Capital Management, the big Greenwich, Conn.-based investment manager. He spoke in his academic capacity on Feb. 19 in a webinar hosted by Princeton University economist Markus Brunnermeier.