I mentioned this in an earlier post. Michael Saylor has a company Micro Strategy, now called just Strategy. During the Tech Bubble he blew up investors on suspect investments. In the recent iteration Strategy is a Bitcoin Reserve, buying the crypto currency, raising money through a preferred stock issuance. Things were looking good a couple months ago when Bitcoin was at $125,000. However, at $86,000 and a preferred dividend payment late month end he has been forced to sell Bitcoin to create a cash reserve. The market cap of Strategy is now worth $45 Billion, with Bitcoin holdings of $55 Billion. It is reminiscent of Charles Mitchell’s predicament as head of National City Bank in the book 1929.
I mentioned this in an earlier post. Michael Saylor has a company Micro Strategy, now called just Strategy. During the Tech Bubble he blew up investors on suspect investments. In the recent iteration Strategy is a Bitcoin Reserve, buying the crypto currency, raising money through a preferred stock issuance. Things were looking good a couple months ago when Bitcoin was at $125,000. However, at $86,000 and a preferred dividend payment late month end he has been forced to sell Bitcoin to create a cash reserve. The market cap of Strategy is now worth $45 Billion, with Bitcoin holdings of $55 Billion. It is reminiscent of Charles Mitchell’s predicament as head of National City Bank in the book 1929.
45 B. market cap is astounding.
I guess that is favorable for those of us looking to short it. There's plenty of it out there to continue eroding....
I was comfortable shorting when Strategy was higher, and Bitcoin higher. A little too risky for me at this level, though I do think Saylor is delusional.
Forget Bitcoin: If you had invested a mere $10,000 in Nvidia’s IPO, you could not only buy Jeff Bezos’ plush private jet and a 1,800 hp Bugatti Tourbillon, but still have $55 million quietly compounding in the bank
Forget Bitcoin: If you had invested a mere $10,000 in Nvidia’s IPO, you could not only buy Jeff Bezos’ plush private jet and a 1,800 hp Bugatti Tourbillon, but still have $55 million quietly compounding in the bank
You could get a date with a Mrs. Bezos look-a-like, fake boobs, BJ lip implants, and Botox eyes?
Forget Bitcoin: If you had invested a mere $10,000 in Nvidia’s IPO, you could not only buy Jeff Bezos’ plush private jet and a 1,800 hp Bugatti Tourbillon, but still have $55 million quietly compounding in the bank
You could get a date with a Mrs. Bezos look-a-like, fake boobs, BJ lip implants, and Botox eyes?
Bitcoin back above $90,000….adding to my SOXS and SPSX shorts….will revisit SMST below $50, if we get there…
Even with a sizable 11 point drop today, SMST still well above your -$50 entry point. Maybe in a few more sessions.
Why do people think that Michael Saylor is going to tell you what he is going to do next with Strategy. this guy has nine lives because he is a master poker player and we are all knaves. I think he could engineer a squeeze of a lifetime by going the opposite of what he says
Not sure if this was posted yet, but Michael Burry gave an interview with Michael Lewis recently. Some things he said I thought were interesting are that 1) Bitcoin is worth nothing and he laughed that anyone thinks it's worth anything (I agree with this), and 2) he said timing the market is impossible but that we are currently at, at present, a level equivalent to the top of bubbles in the past and said the bubble will burst within two years max. He said things are very different today than 2000 because almost all money in the market today is passively invested, so basically everyone is going to lose (during the dip anyway).
He said other interesting things, but those were two big ones for me.
Not sure if this was posted yet, but Michael Burry gave an interview with Michael Lewis recently. Some things he said I thought were interesting are that 1) Bitcoin is worth nothing and he laughed that anyone thinks it's worth anything (I agree with this), and 2) he said timing the market is impossible but that we are currently at, at present, a level equivalent to the top of bubbles in the past and said the bubble will burst within two years max. He said things are very different today than 2000 because almost all money in the market today is passively invested, so basically everyone is going to lose (during the dip anyway).
He said other interesting things, but those were two big ones for me.
2) Trusting any "expert" is foolish. They have no idea what is going to happen. Most of them have called for a market collapse during that last 15 years and instead it has skyrocketed.
Do not trust any "experts." They have no idea what is going on. Diversify and be in the market for the long haul.
Good interview with Burry. I agree with his view that companies have wrapped themselves with AI. Madison Avenue marketing. Now you have Morgan Stanley attempting to save the overburden AI debt space by unloading the loans to unsuspecting retail investors.
Muh 'port is still hovering around ATH. Mostly SPY with extra in Tech. Made $4500 on Bitcoin today alone. I can't complain - we'll see about this "Crash" I keep hearing about.
Muh 'port is still hovering around ATH. Mostly SPY with extra in Tech. Made $4500 on Bitcoin today alone. I can't complain - we'll see about this "Crash" I keep hearing about.
If I am a so=called market "expert" and for 15 years keep claiming the market is collapsing and instead it skyrockets - would you call me an expert. No - you would call me a dunce. John Hussman is a dunce.
Muh 'port is still hovering around ATH. Mostly SPY with extra in Tech. Made $4500 on Bitcoin today alone. I can't complain - we'll see about this "Crash" I keep hearing about.
If I am a so=called market "expert" and for 15 years keep claiming the market is collapsing and instead it skyrockets - would you call me an expert. No - you would call me a dunce. John Hussman is a dunce.
It will be comforting for you to know no one selects the weightings of the S&P 500. No experts, no John Hussman, or Michael Burry. The top ten stocks make up 40% of the 500 stock index. The marvels of market mania on autopilot.
If I am a so=called market "expert" and for 15 years keep claiming the market is collapsing and instead it skyrockets - would you call me an expert. No - you would call me a dunce. John Hussman is a dunce.
It will be comforting for you to know no one selects the weightings of the S&P 500. No experts, no John Hussman, or Michael Burry. The top ten stocks make up 40% of the 500 stock index. The marvels of market mania on autopilot.
So you would say you would never rely on John Hussman's predictions?
Not sure if this was posted yet, but Michael Burry gave an interview with Michael Lewis recently. Some things he said I thought were interesting are that 1) Bitcoin is worth nothing and he laughed that anyone thinks it's worth anything (I agree with this), and 2) he said timing the market is impossible but that we are currently at, at present, a level equivalent to the top of bubbles in the past and said the bubble will burst within two years max. He said things are very different today than 2000 because almost all money in the market today is passively invested, so basically everyone is going to lose (during the dip anyway).
He said other interesting things, but those were two big ones for me.
2) Trusting any "expert" is foolish. They have no idea what is going to happen. Most of them have called for a market collapse during that last 15 years and instead it has skyrocketed.
Do not trust any "experts." They have no idea what is going on. Diversify and be in the market for the long haul.
Nobody said to try to time the markets.
It is worthwhile to listen to smart people talk about areas of their expertise. You can learn things by doing this. Part of what threads like this are about is for people to share their thoughts so that we can collectively get a better idea of what's going on. Same thing goes for listening to smart people like Michael Burry. Even for those of us who are very long in the market, it's still advantageous and at least interesting to have some idea about things like valuations, bubbles, and whether we might see bear market in the next 6-18 months. Nobody on this thread is telling anyone to blindly follow anyone.
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