The rich got richer during the pandemic!

Ahhh no.

 

Yeah, not every rich got richer. Some have gone through major losses too.

 

Like ... who?

 

Exactly!
Their diversified portfolios are making them richer no matter how the economy is moving.

 

like this Melvin guy who just got burned for shorting GME. He will bounce back of course but right now he's got some losses. Apparently he was shorting the stock when it was just $4 thinking he could drive it to bankruptcy and he got out at $90. Dunno how many shares he actually shorted.

 

He's a hedgie so how much was he short his money and how much was OPM money as well as where he entered, where he exited is the question and I'm sure he had other positions during pandemic. Until anything becomes public, if it does at all at some point, who really knows if he personally lost ... during the pandemic.

 

And what about the poor?

 

likely a lot of his money is in his fund.... after all, i'm sure he believes in himself and he was generating 30% returns/year. There's no reason for him or his investors to think his idea generation process is broken because of GME.

 

One of my friends lost his job, business firms were unable to meet their financial needs.

 

Well that has happened with a lot of people, the situations were worse for many of them.