Read on Twitter
It could be easy to assume that I& #39;m just another grumpy bear mad about losing money shorting.
No one could begrudge you for that opinion. I did lose $ shorting yesterday, but all in all, have had 2 of the best weeks in my history as a trader.
1/n
No one could begrudge you for that opinion. I did lose $ shorting yesterday, but all in all, have had 2 of the best weeks in my history as a trader.
1/n
This is not about long/short bias either. Look to my Jan->Feb tweets to see lots of bullish calls and wins. As my bio says, I& #39;m agnostic when it come to trades.
2/n
2/n
So why so fucking grumpy?
Let me tell you about my past...
In 2000 I had a wife and son, but we were broke. I couldn& #39;t find solid work, and we were constantly falling behind on rent/payments/etc.
We lived off of food stamps and odd jobs.
3/n
Let me tell you about my past...
In 2000 I had a wife and son, but we were broke. I couldn& #39;t find solid work, and we were constantly falling behind on rent/payments/etc.
We lived off of food stamps and odd jobs.
3/n
Then we built a real estate empire from nothing. It changed our lives. We were cruising and living the life! We finally allowed ourselves to have hopes and dreams.
Unfortunately, everything went to shit and the business closed, leaving us with debt, obligations, etc.
4/n
Unfortunately, everything went to shit and the business closed, leaving us with debt, obligations, etc.
4/n
We were back to zero again, and now had a few kids. No time for self-pity. Joined the military (I was the oldest guy in boot camp), joined a SOCOM unit, and deployed to Afghanistan.
Wasn& #39;t the best family life, but we were stable again.
5/n
Wasn& #39;t the best family life, but we were stable again.
5/n
I built my 2nd business while I was deployed and continued it after I got out and move to Florida. Created an e-commerce empire that generated millions in revenue. Life was great.
6/n
6/n
Eventually noticed some recessionary indicators that worried me. Revenue was dwindling despite harder work on a better product. Had offers to sell, but passed. Felt could get more.
Eventually sold for a fraction of what it was worth, but I was ready to get out.
7/n
Eventually sold for a fraction of what it was worth, but I was ready to get out.
7/n
Meanwhile, also built a multi-location food and beverage business. Noticed similar recessionary indicators in 18-19. Banks wouldn& #39;t lend, so Invested tons of my own cash in order to prop it up and weather the decline.
8/n
8/n
2-3 years of battle as a CEO, especially after a decade of running another business, will eventually wear you out. But you fight because you believe in it.
Then March 2020 came, and we were forced to close like everyone else.
9/n
Then March 2020 came, and we were forced to close like everyone else.
9/n
So now market has sold off, politicians are feeding at the trough, and my business is forced to close.
Half of my team is out of work, to-go sales dwindling by the day, and it& #39;s likely we& #39;ll be socially distanced into 2021.
That means half capacity, bartender masks, etc
10/n
Half of my team is out of work, to-go sales dwindling by the day, and it& #39;s likely we& #39;ll be socially distanced into 2021.
That means half capacity, bartender masks, etc
10/n
It& #39;s unlikely we& #39;ll be back to where we were in 2019 anytime soon, let alone where we were in 2017. This is not just me. This is the entire F&B industry.
Yet, bills keep coming due, and I have zero answers for my team.
11/n
Yet, bills keep coming due, and I have zero answers for my team.
11/n
My entire life I& #39;ve built everyone on my own, from scratch...
I& #39;ve been reset to zero too many times to count.
Every time they do it, I built it back up.
But nobody EVER gave me a helping hand, let alone a bailout.
Banks wouldn& #39;t even lend. Too small for VC.
12/n
I& #39;ve been reset to zero too many times to count.
Every time they do it, I built it back up.
But nobody EVER gave me a helping hand, let alone a bailout.
Banks wouldn& #39;t even lend. Too small for VC.
12/n
But I never complained about it because that& #39;s the world we live in, and everyone had to play by the same rules.
But now we see that this isn& #39;t the case.
1. The crash was fake. It hurt people. Especially shorts from 2018-2019.
13/n
But now we see that this isn& #39;t the case.
1. The crash was fake. It hurt people. Especially shorts from 2018-2019.
13/n
2. The rally is fake. It& #39;s going to hurt more people when it gives out.
3. The Fed and gov are bailing out everyone except people like you and I, the people that deserve it most.
14/n
3. The Fed and gov are bailing out everyone except people like you and I, the people that deserve it most.
14/n
Now, instead of being able to buy into this rally, we are forced to deplete cash reserves in order to keep our teams employed and businesses operational.
Every 1%er gets an instant free deposit from the Fed, while the rest of us wait in line like beggars.
15/n
Every 1%er gets an instant free deposit from the Fed, while the rest of us wait in line like beggars.
15/n
The fucking POTUS spends more time tweeting about his ratings than about helping the country. He manipulates the market to take your money. Politicians get insider info and take your money.
Now it& #39;s just become obscene.
16/n
Now it& #39;s just become obscene.
16/n
Meanwhile we& #39;re all stuck at home, losing one civil liberty after another, and getting arrested for being in public with a watchful eye. To make matters worse, the bulk of the sheep embrace this new reality because they still have Netflix and Internet.
17/n
17/n
Those of us that are awake, will continue to be marginalized until we too embrace this reality, or go broke fighting it.
They have pulled the wool over our eyes, and unless things change, this WILL BE the new permanent paradigm.
18/n
They have pulled the wool over our eyes, and unless things change, this WILL BE the new permanent paradigm.
18/n
The only way this changes, and people in even worse shape than us get a fair shot, is if this all goes to shit and we have a total economic collapse. This is painful, but it& #39;s the only way.
We must have a reset. We must evict these pigs from ivory towers and throne rooms.
19/n
We must have a reset. We must evict these pigs from ivory towers and throne rooms.
19/n
