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Portnoy slams Buffett


wescobrk
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Some frat guy (that is worth over $500 million) slams Buffett for being washed up, Ackman said he is more nimble (which is true since he manages less than 10% of Buffett in assets) and the retail investors bidding up bankrupt stocks by 600% and bankrupt stocks (hertz) being approved by the bankruptcy court to issue $1 billion in shares while Icahn sold his 40% stake at 70 cents a share, does anyone else feel like this is a Lewis Carroll story?

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As I wrote in an earlier post, the effect on stocks after a strong force of deflation is stopped is always like this.

 

In 2000-2002 there was a strong multi-year deflation/economic contraction, but starting at the end of Oct 2002 til end of 2003 reflation starts, and the median, non-S&P 500 stock was up +114%.

 

In late 2008 we saw another great deflation due to the mortgage crisis, but starting in March 2009 til the end of 2009, the actions of the Fed and US Treasury stop the debt deflation/bank crisis, and the median, non-S&P 500 stock was up +117%.

 

This year, the Fed and US Treasury acted much more quickly and basically stopped the economic contraction/deflation that started in early March by March 23rd.  So its not a surprise that stocks are rising quickly.  And as has been shown before, the lower-quality, more indebted companies recover faster and higher because they fell the most.

 

Twas ever thus.  We are seeing the same effect now and probably for the rest of the year.

 

The cast of characters may change - but we are seeing the same underlying effect except the ducks that think they are great swimmers because of the huge rise in water levels in the lake are on social media these days and crowing about their swimming skills.

 

Just my 2-cents. FWIW.

 

wabuffo

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Some frat guy (that is worth over $500 million) slams Buffett for being washed up, Ackman said he is more nimble (which is true since he manages less than 10% of Buffett in assets) and the retail investors bidding up bankrupt stocks by 600% and bankrupt stocks (hertz) being approved by the bankruptcy court to issue $1 billion in shares while Icahn sold his 40% stake at 70 cents a share, does anyone else feel like this is a Lewis Carroll story?

 

Yes indeed, well covered here and elsewhere.  Also his net worth is not over $500 million.  At his day-trading high he was claiming $118m or something like that.  Not that it matters (to me - it obviously matters to him quite a bit).

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Some frat guy (that is worth over $500 million) slams Buffett for being washed up, Ackman said he is more nimble (which is true since he manages less than 10% of Buffett in assets) and the retail investors bidding up bankrupt stocks by 600% and bankrupt stocks (hertz) being approved by the bankruptcy court to issue $1 billion in shares while Icahn sold his 40% stake at 70 cents a share, does anyone else feel like this is a Lewis Carroll story?

 

Yes indeed, well covered here and elsewhere.  Also his net worth is not over $500 million.  At his day-trading high he was claiming $118m or something like that.  Not that it matters (to me - it obviously matters to him quite a bit).

 

I stand corrected regarding net worth. I read he made $450 million selling barstools or whatever it is. He is being smart only investing $5 million out of his $118/450million (Portnoy) I don't see how this guy doesn't lose more than 50% of his money.

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Yes, it is Lewis Carroll story: we had threads for all the above already.  ::)

 

Oh, I haven't read the board for the past few days.

I need to get caught up!

Is there general sense on this board the market is overvalued or closer to fairly valued?

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In a spirit of continued ridiculousness & rather than post this nonsense in a BRK thread, here you go.

 

https://www.businessinsider.com/warren-buffett-acme-brick-battles-conspiracies-planted-supplied-protests-2020-6

 

Umm, I don't understand retard that well so maybe someone can help me out. What does Bill Gates have to do with it?

 

You have to get with the program - Bill Gates and Huawei have caused Covid with their vaccines and 5G towers and are well on the path to killing off a large part of the world's population and controlling the rest etc etc.

 

(That is obviously sarcasm, but not really that far off from the conspiracy theories that I have seen being sent around Whatsapp, FB etc. - it is kind of scary that some people I know actually buy into this stuff.)

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Wow! that is some of the DUMBEST stuff I have heard in my life. And I've heard some whoppers.

 

I know I'm gonna be sorry for it, but I must still ask, if he's so busy causing covid? Why is he planting bricks?

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Wow! that is some of the DUMBEST stuff I have heard in my life. And I've heard some whoppers.

 

I know I'm gonna be sorry for it, but I must still ask, if he's so busy causing covid? Why is he planting bricks?

 

Duh...  The race riots and COVID-19 "pandemic" were both manufactured by the elite to distract the main stream media from covering their pedophilia and human trafficking.  Its the great awakening and Trump is in on it and speaking in secret codes to the chosen few.  I mean, you must have noticed the hidden messaging with George Floyd being held down for 8:46 when the first plane "hit" the world trade center at 8:46am right?  C'mon sheeple!

 

;)

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Wow! that is some of the DUMBEST stuff I have heard in my life. And I've heard some whoppers.

 

I know I'm gonna be sorry for it, but I must still ask, if he's so busy causing covid? Why is he planting bricks?

 

Yup, I know it is absolutely crazy but something like 44% of republicans have been found to believe Bill Gates is planning to implant microchips in everyone via vaccines. Don't know whether to laugh or cry at that one. See https://www.bbc.com/news/52847648 and https://www.businessinsider.com/bill-gates-vaccine-conspiracy-theories-are-stupid-2020-6 for some of the craziness.

 

The bricks come in within all these theories because Bill Gates apparently hates and is scared of Trump (who might expose and counter him as the story goes) and wants to damage him by making the protests violent. That is about as far as I can figure out since they don't make much sense overall (some claim that Bill Gates wants to kill 15% of all people via vaccinations but some don't so there is quite a bit of variation to this nonsense).

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Wow! that is some of the DUMBEST stuff I have heard in my life. And I've heard some whoppers.

 

I know I'm gonna be sorry for it, but I must still ask, if he's so busy causing covid? Why is he planting bricks?

 

Yup, I know it is absolutely crazy but something like 44% of republicans have been found to believe Bill Gates is planning to implant microchips in everyone via vaccines. Don't know whether to laugh or cry at that one. See https://www.bbc.com/news/52847648 and https://www.businessinsider.com/bill-gates-vaccine-conspiracy-theories-are-stupid-2020-6 for some of the craziness.

 

The bricks come in within all these theories because Bill Gates apparently hates and is scared of Trump (who might expose and counter him as the story goes) and wants to damage him by making the protests violent. That is about as far as I can figure out since they don't make much sense overall (some claim that Bill Gates wants to kill 15% of all people via vaccinations but some don't so there is quite a bit of variation to this nonsense).

 

This sh!t is so f&cked up that...

 

 

I don't have anything to add

 

for now

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Wow! that is some of the DUMBEST stuff I have heard in my life. And I've heard some whoppers.

 

I know I'm gonna be sorry for it, but I must still ask, if he's so busy causing covid? Why is he planting bricks?

 

Yup, I know it is absolutely crazy but something like 44% of republicans have been found to believe Bill Gates is planning to implant microchips in everyone via vaccines. Don't know whether to laugh or cry at that one. See https://www.bbc.com/news/52847648 and https://www.businessinsider.com/bill-gates-vaccine-conspiracy-theories-are-stupid-2020-6 for some of the craziness.

 

The bricks come in within all these theories because Bill Gates apparently hates and is scared of Trump (who might expose and counter him as the story goes) and wants to damage him by making the protests violent. That is about as far as I can figure out since they don't make much sense overall (some claim that Bill Gates wants to kill 15% of all people via vaccinations but some don't so there is quite a bit of variation to this nonsense).

 

Pity them. Imagine if someone believes these kinds of things. How are their relationships going to be with their family members? How effective would they be at work? How much anger and frustration must be boiling over in their minds?

 

They are likely frustrated every waking minute. This frustration oozes out of every post they make for example.

 

Count your blessings that you are not them.

 

 

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