As GameStop Stalls, Will Regulators Start?

Outside a GameStop store in New York City, January 29, 2021 (Carlo Allegri/Reuters)
Regulators should refrain from imposing their valuations on markets.

NRPLUS MEMBER ARTICLE B loomberg’s Matt Levine continues to be a tremendous source of insight into the GameStop saga, but one possible response to what has happened, which is set out in one of his must-read articles on this stock’s excellent adventure/bogus journey (take your pick) and buried within the following not-to-be-taken-literally passage, should be treated with caution:

We have discussed before the sort of creaky U.S. rules around who can buy what sorts of risky investments, and I have proposed a simple standard. I call it the “Certificate of Dumb Investment.” Under this standard, anyone can buy diversified low-fee mutual funds to their heart’s


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