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The Trolls of Wall Street: How the Outcasts and Insurgents Are Hacking the Markets Hardcover – June 11, 2024


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The dramatic story of an improbable gang of self-proclaimed “degenerates” who made WallStreetBets into a cultural movement that moved from the fringes of the internet to the center of Wall Street, upending the global financial markets and changing how an entire generation thinks about money, investing, and themselves.   

Jaime Rogozinski and Jordan Zazzara were not what anyone would mistake for traditional financial power players. But they turned WallStreetBets, a subreddit focused on risky financial trading, into one of the most disruptive forces to bubble up from the fringes of the internet.  This crude and unassuming message board harnessed the power of memes and trolling to create a new kind of online community. The group intertwined with the distrust and turmoil of our times and spoke to a generation of young men who were struggling to find their place in the world.  

Deeply reported and fast moving, The Trolls of Wall Street is the suspenseful story of the people who made and lost millions, battling with each other—and with Wall Street—for power and status. It is a sobering account of how millions of young Americans became obsessed with money and the markets, casting a long and lasting influence over finance, politics, and popular culture.   



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Editorial Reviews

Review

“A smart, unsettling take...ambitious” — Fortune

“Incisive...While other journalists have portrayed WallStreetBets as the David to Wall Street’s Goliath, Popper depicts the subreddit as a refuge for young men starved of connection whose disaffection deteriorated during the Trump presidency into a wellspring of racism and misogyny. Vividly reported and remarkably evenhanded, this stands out as one of the more critical assessments of the GameStop rally.” — Publishers Weekly

*A Next Big Idea Club "Must-Read Book" * —

“A disruptive tour-de-force. The Trolls of Wall Street explores in an elegant and precise narrative the bros and the subculture behind the WallStreetBets phenomenon and how together, they changed Wall Street forever.” — William D. Cohan, author of Money and Power and The Last Tycoons

“Every investor should read this book. Few tell a story like Nathaniel Popper, and The Trolls of Wall Street is a great reminder that markets don't always obey the clean, rational laws of finance: They are driven by people, who occasionally lose their minds.” — Morgan Housel, author of The Psychology of Money

“Popper deftly opens up private chat rooms and late-night screens to tell the story of the very human humans behind a movement to crack the wizardry of Wall Street. An engrossing examination of how one of Reddit’s communities grew from fringe to a force capable of moving markets.” — Christine Lagorio-Chafkin, author of We Are The Nerds and editor-at-large at Inc. magazine

“A vibrant testament to the power of the internet, The Trolls of Wall Street captivates with stories of digital Davids taking on financial Goliaths. Nathaniel Popper's immersive reporting and entertaining storytelling illuminates this unprecedented upheaval in the financial world.” — Bradley Hope, co-author of Billion Dollar Whale and Blood and Oil

“A brilliant exploration of human behavior in the internet age. To most of us, the frenzy surrounding GameStop and other meme stocks seemed like just another financial bubble. Popper shows it was something entirely different and new: stock trading motivated as much or more by anger, loneliness, and a need for male companionship as by the eternal desire to make money.” — Joe Nocera, co-author of The Big Fail and All the Devils Are Here

“Popper has untangled the hyper-complex story of meme stocks and WallStreetBets and spun it into a fascinating, meticulously researched narrative about the lives of the real people involved.” — Dale Beran, author of It Came from Something Awful

About the Author

Nathaniel Popper covered the intersection of finance and technology for the New York Times. He is the author of Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money. Before joining the Times, he worked at the Los Angeles Times and the Forward. Nathaniel grew up in Pittsburgh and is a graduate of Harvard College. He lives in Oakland with his family.

Product details

  • Publisher ‏ : ‎ Dey Street Books (June 11, 2024)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 352 pages
  • ISBN-10 ‏ : ‎ 0063205866
  • ISBN-13 ‏ : ‎ 978-0063205864
  • Item Weight ‏ : ‎ 2.31 pounds
  • Dimensions ‏ : ‎ 6 x 1.04 x 9 inches
  • Customer Reviews:

About the author

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Nathaniel Popper
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Nathaniel Popper is the author of "The Trolls of Wall Street. How the Outcasts and Insurgents Are Hacking the Markets" from Dey Street Press. His previous book, "Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money," was a New York Times Editors Choice and a finalist for the Financial Times Business Book of the Year. He covered the worlds of Wall Street and Silicon Valley for The New York Times, dividing his time between New York City and the Bay Area, for nearly a decade. Before that, he worked at the Forward and the Los Angeles Times. A graduate of Harvard University, Nathaniel grew up in Pittsburgh and makes his home in the San Francisco Bay Area.

Customer reviews

4.9 out of 5 stars
32 global ratings

Customers say

Customers find the content fast-paced and deeply informative, shedding light on the personas. They also say the story is well-researched and sourced, threaded with a compelling narrative.

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3 customers mention "Content"3 positive0 negative

Customers find the book's content deeply informative, thrilling, and well-researched. They also say it's compelling.

"...Popper’s narrative is both fast-paced and deeply informative, shedding light on the personas of Jaime Rogozinski and Jordan Zazzara...." Read more

"...trading and anyone who enjoys a thrilling and incredibly well researched and sourced, threaded with a compelling narrative." Read more

"Just began reading tonight. The content is well written, informative, and engaging...." Read more

3 customers mention "Story"3 positive0 negative

Customers find the story well researched, sourced, and compelling. They also say the narrative is informative and engaging.

"“The Trolls of Wall Street” by Nathan Popper is an exhilarating read that masterfully captures the rise of WallStreetBets, an improbable movement..." Read more

"...a thrilling and incredibly well researched and sourced, threaded with a compelling narrative." Read more

"...The content is well written, informative, and engaging. The paper is thinner and cheaper than what you’d find in a comic book...." Read more

A Gripping Insight into the Chaos and Triumphs of WallStreetBets
5 out of 5 stars
A Gripping Insight into the Chaos and Triumphs of WallStreetBets
“The Trolls of Wall Street” by Nathan Popper is an exhilarating read that masterfully captures the rise of WallStreetBets, an improbable movement that has reshaped the financial landscape. This book delves deep into the world of self-proclaimed “degenerates” who turned a simple subreddit into a cultural phenomenon, moving from the internet’s fringes to the epicenter of Wall Street.Popper’s narrative is both fast-paced and deeply informative, shedding light on the personas of Jaime Rogozinski and Jordan Zazzara. These unconventional figures, far from traditional financial power players, spearheaded WallStreetBets, a community that thrives on risky financial trading, memes, and trolling. Their story is a testament to how a grassroots movement can disrupt global financial markets and influence a generation’s outlook on money and investing.I found several topics particularly valuable: • Payment for Order Flow (p. 41): Insights into how platforms like Robinhood operate. • Call Options and Stock Movements (p. 116 & p. 166): Detailed explanations of how buying call options can drive stock prices up. • Gamma Squeeze Tactics (p. 130): Strategies for playing the infamous “gamma squeeze.” • Trading Classes and Communities (p. 142 & p. 166): Information about True Trading Group and the impact of Reddit shutting down Trump subs. • Bots and Automation (p. 163): The role of petty Reddit bots in trading. • Stock Twits and Open-Source Reddit (p. 183 & p. 170): Exploration of different trading and social platforms. • Behavioral Finance and AMC (p. 195 & p. 236): The dynamics of bullish call options, bearish put options, and the AMC saga. • DeFi and Technis App (p. 280, p. 286 & p. 294): The future of decentralized finance and innovative trading apps.Popper’s work not only chronicles the financial maneuvers but also dives into the socio-cultural factors that propelled WallStreetBets into the mainstream. It’s a sobering account of how young Americans, through their obsession with markets, have left an indelible mark on finance, politics, and popular culture.For anyone interested in understanding the chaotic yet fascinating world of WallStreetBets, “The Trolls of Wall Street” is an essential read. Highly recommended for both finance enthusiasts and casual readers intrigued by the intersection of internet culture and global markets.Rating: 5/5
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Top reviews from the United States

Reviewed in the United States on July 6, 2024
“The Trolls of Wall Street” by Nathan Popper is an exhilarating read that masterfully captures the rise of WallStreetBets, an improbable movement that has reshaped the financial landscape. This book delves deep into the world of self-proclaimed “degenerates” who turned a simple subreddit into a cultural phenomenon, moving from the internet’s fringes to the epicenter of Wall Street.

Popper’s narrative is both fast-paced and deeply informative, shedding light on the personas of Jaime Rogozinski and Jordan Zazzara. These unconventional figures, far from traditional financial power players, spearheaded WallStreetBets, a community that thrives on risky financial trading, memes, and trolling. Their story is a testament to how a grassroots movement can disrupt global financial markets and influence a generation’s outlook on money and investing.

I found several topics particularly valuable:

• Payment for Order Flow (p. 41): Insights into how platforms like Robinhood operate.
• Call Options and Stock Movements (p. 116 & p. 166): Detailed explanations of how buying call options can drive stock prices up.
• Gamma Squeeze Tactics (p. 130): Strategies for playing the infamous “gamma squeeze.”
• Trading Classes and Communities (p. 142 & p. 166): Information about True Trading Group and the impact of Reddit shutting down Trump subs.
• Bots and Automation (p. 163): The role of petty Reddit bots in trading.
• Stock Twits and Open-Source Reddit (p. 183 & p. 170): Exploration of different trading and social platforms.
• Behavioral Finance and AMC (p. 195 & p. 236): The dynamics of bullish call options, bearish put options, and the AMC saga.
• DeFi and Technis App (p. 280, p. 286 & p. 294): The future of decentralized finance and innovative trading apps.

Popper’s work not only chronicles the financial maneuvers but also dives into the socio-cultural factors that propelled WallStreetBets into the mainstream. It’s a sobering account of how young Americans, through their obsession with markets, have left an indelible mark on finance, politics, and popular culture.

For anyone interested in understanding the chaotic yet fascinating world of WallStreetBets, “The Trolls of Wall Street” is an essential read. Highly recommended for both finance enthusiasts and casual readers intrigued by the intersection of internet culture and global markets.

Rating: 5/5
Customer image
5.0 out of 5 stars A Gripping Insight into the Chaos and Triumphs of WallStreetBets
Reviewed in the United States on July 6, 2024
“The Trolls of Wall Street” by Nathan Popper is an exhilarating read that masterfully captures the rise of WallStreetBets, an improbable movement that has reshaped the financial landscape. This book delves deep into the world of self-proclaimed “degenerates” who turned a simple subreddit into a cultural phenomenon, moving from the internet’s fringes to the epicenter of Wall Street.

Popper’s narrative is both fast-paced and deeply informative, shedding light on the personas of Jaime Rogozinski and Jordan Zazzara. These unconventional figures, far from traditional financial power players, spearheaded WallStreetBets, a community that thrives on risky financial trading, memes, and trolling. Their story is a testament to how a grassroots movement can disrupt global financial markets and influence a generation’s outlook on money and investing.

I found several topics particularly valuable:

• Payment for Order Flow (p. 41): Insights into how platforms like Robinhood operate.
• Call Options and Stock Movements (p. 116 & p. 166): Detailed explanations of how buying call options can drive stock prices up.
• Gamma Squeeze Tactics (p. 130): Strategies for playing the infamous “gamma squeeze.”
• Trading Classes and Communities (p. 142 & p. 166): Information about True Trading Group and the impact of Reddit shutting down Trump subs.
• Bots and Automation (p. 163): The role of petty Reddit bots in trading.
• Stock Twits and Open-Source Reddit (p. 183 & p. 170): Exploration of different trading and social platforms.
• Behavioral Finance and AMC (p. 195 & p. 236): The dynamics of bullish call options, bearish put options, and the AMC saga.
• DeFi and Technis App (p. 280, p. 286 & p. 294): The future of decentralized finance and innovative trading apps.

Popper’s work not only chronicles the financial maneuvers but also dives into the socio-cultural factors that propelled WallStreetBets into the mainstream. It’s a sobering account of how young Americans, through their obsession with markets, have left an indelible mark on finance, politics, and popular culture.

For anyone interested in understanding the chaotic yet fascinating world of WallStreetBets, “The Trolls of Wall Street” is an essential read. Highly recommended for both finance enthusiasts and casual readers intrigued by the intersection of internet culture and global markets.

Rating: 5/5
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2 people found this helpful
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Reviewed in the United States on June 20, 2024
Extremely timely look at how online communities fueled by Reddit challenged Wall Street in the run up to the Gamestop boom in 2021. Going beyond the headlines and hysteria of other texts that focus on the conflict between Wall Street and Reddit, Popper does an incredible drive tracing the origins of these communities and the analogs between the more polarizing pieces of the internet. Highly recommend for those enmeshed in online communities, trading and anyone who enjoys a thrilling and incredibly well researched and sourced, threaded with a compelling narrative.
One person found this helpful
Report
Reviewed in the United States on June 12, 2024
Just began reading tonight. The content is well written, informative, and engaging. The paper is thinner and cheaper than what you’d find in a comic book. Distracting to read, with the print of subsequent page(s) bleeding right through. Should have just gotten the Kindle version.
Customer image
5.0 out of 5 stars Already Frustrated
Reviewed in the United States on June 12, 2024
Just began reading tonight. The content is well written, informative, and engaging. The paper is thinner and cheaper than what you’d find in a comic book. Distracting to read, with the print of subsequent page(s) bleeding right through. Should have just gotten the Kindle version.
Images in this review
Customer image
Customer image
2 people found this helpful
Report
Reviewed in the United States on July 6, 2024
The newsweek review below is the worst quote in history

Incisive...While other journalists have portrayed WallStreetBets as the David to Wall Street’s Goliath, Popper depicts the subreddit as a refuge for young men starved of connection whose disaffection deteriorated during the Trump presidency into a wellspring of racism and misogyny. Vividly reported and remarkably evenhanded, this stands out as one of the more critical assessments of the GameStop rally.” — Publishers Weekly
Reviewed in the United States on July 15, 2024
I had dismissed the GameStop runup as little more than a group of crazy youngsters that briefly manipulated the markets. After reading this book, I came to understand the social movement behind it, the people who shaped it, and they way their social networks outsmarted the hedge funds and changed investing. Nathaniel Popper's writing turns what could be dry subject matter into a riveting story. A great read!
2 people found this helpful
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Reviewed in the United States on June 15, 2024
My guess is some forum posted this book and told everyone to post one star reviews. The best part about all the one star reviews is that they talk about how poorly researched the book is when they clearly haven’t read it. Ah the irony. Anyway I liked it. The online communities self identify as trolls and there is so much great stuff there you won’t read in a news article or see elsewhere. Easy five stars. Well done!
2 people found this helpful
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Reviewed in the United States on June 23, 2024
Nathaniel Popper is an astute observer and a skilled writer. His new book deserves serious attention. He explores an online community surprisingly dedicated to financial risk taking. What he reveals and explains is important to anyone concerned about the level of distrust and cynicism in society today, especially online society. He reveals a complicated and important reality beneath what looks superficially like financial lunacy. With insight and plain English, he explains how online mania over “meme stocks” and cryptocurrencies have arisen from thoughtful, if alienated online communities, only to be driven over the cliff by enthusiasm, euphoria, or anger, sometimes aided by the unseen, un-understood mechanics of financial markets. I highly recommend this insightful, engaging book.
2 people found this helpful
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Top reviews from other countries

Andy
5.0 out of 5 stars A perfect encapsulation of the meme stock saga
Reviewed in Canada on July 24, 2024
What led up to the GameStop short squeeze? Chalk it up to a combination of Robinhood, the WallStreetBets forum on Reddit, Covid-19, Trumpism and a myriad of other factors so perfectly encapsulated in “The Trolls of Wall Street” by former New York Times reporter Nathaniel Popper. This is a financial story for our times.

During the meme stock craze WSB suddenly rocketed to fame as young men stuck at home during the COVID-19 pandemic started to trade stocks on commission free brokerages like Robinhood en masse using their stimulus cheques. While this book is more about the fight behind the scenes of WSB than the GameStop short squeeze per say Popper is able to expertly tie all the loose ends together to give us an understanding of what led up to the capitulation of hedge funds like Melvin Capital.