What's up! It’s episode 23 of Payne Points of Wealth and Wall Street's gone bananas in a crazy twist. We've got hedge fund managers being taken out by Reddit traders in chat rooms! It goes back to one of our old sayings here at Payne Capital Management “Wall Street’s made up of ordinary people trying to do extraordinary things.” We're going to break this craziness down for you and talk about exactly what happened with the Game Stop trade, what to make of it, and what to do with your portfolio in light of all the market speculation. As an added bonus we're going to talk about Bob's renovation. We know you care about it, his house in Florida, but wait until you hear how that relates to your financial plan. Let's hop to it!  You will want to hear this episode if you are interested in...This Game Stop thing… Reddit vs The Hedge Fund [1:13]Scarcity of capital overabundance of capital [5:02]Buy the stock not the story [7:22]The Tipping Point [11:13]Diversified opinions do not equal a diversified portfolio [12:09]Is your investment strategy in line with your goals? [18:10]Hidden Facts of Finance [23:05]Are you buying the stock or the story?You're hearing about innovation. Innovation is going to change the world. It's already happening, but you're paying up for those earnings. It's what happened in ‘99 and ‘00 when you had these companies selling exorbitant PE ratios. They were selling at ridiculous valuations, like Cisco at 200 times its earnings. The story was right, everything that the tech companies promised in ‘99 came true, but not for 10 or 15 years. Meanwhile, the stocks didn't do anything but go down. Tesla has this huge opportunity and it's probably 100% correct that we're all going to be driving electric vehicles, eventually. They're probably going to corner the market in batteries and they'll have all these other great services that complement their core business. But the point is, it's all being priced in today. This week on the tipping point: Renovating your financial plansDoing any type of renovation is expensive and you've got to be careful that you get the best discounts you can while still getting quality work. If you hire 10 contractors to do 10 different jobs, then you're paying 10 different people a retail price. It’s wiser to get one contractor who gives you a wholesale price on all 10 jobs and you save on the overall cost and only have to deal with one person. Saves you time. Saves you money. It's no different when it comes to working with one financial advisor rather than working with several different advisors. You have your assets spread around because you think you don't want to have all of your eggs in one basket. However, you’re paying fees to everyone. You are a small client with 10 different advisors so you're not getting the overall discount that you would as a larger client with one advisor. Not only that but each of those advisors is bound to have some overlap so while you're not’ putting all of your eggs in one basket you are putting the same eggs in several baskets. This week’s hidden facts of financeApple reported a record $111 billion in revenue this past quarter! Up 21% from a year ago. Apple now generates $50 million in sales EVERY. SINGLE. HOUR. Bob met Steve Jobs way back in the ’80s after he had just been fired by Apple and he was working for NeXT. Just goes to show you how smart these management teams are. They got rid of the guy who was responsible for creating the first trillion-dollar capitalization company. So $111 billion in one quarter is a record quarter, it’s the first time anybody's done a hundred billion dollars in one quarter. EVER. Check out the episode for more hidden facts of finance! See if you qualify for a complimentary financial review from the PaynesConnect With Ryan, Bob, and Chrishttp://PayneCM.com Follow on TwitterFollow on FacebookFollow on LinkedInSubscribe on YouTubeFollow on InstagramSubscribe to Payne Points of WealthOn Apple Podcasts, On Google Podcasts, On Spotif