This morning on CNBC Worldwide Exchange, a Wedbush analyst took a blowtorch to Cathy Wood and her Ark Funds. Called them complete garbage and that she had the worst strategy as a portfolio manager, trying to catch falling knives by keep buying in as the tech wrecks kept dropping by 30-40-50% or more.
It was the most brutal attack from one Wall Streeter against another since Carl Icahn went after Bill Ackman over Herbalife.
Basically said she did nothing to protect her clients assets in a tough market and made it worse by an overly risky strategy. [Reply]
Originally Posted by Rain Man:
My hunch is that they do reverse stock splits and then people see that the stock is a buck or two and buy it because it seems cheap, and then they reverse split again and the process repeats. It looks more like a psychological trick on penny stock investors than anything else.
It looks like they just do massive stock issues frequently to get people to buy in, even though it's not creating value. It dilutes existing stock holdings and then they reverse-split back to some level of capitalization and everyone who bought stock loses most of their value through dilution: https://www.fool.com/investing/2020/...s-are-buy.aspx
I just found it odd that on 8/1/2013 the closing price was $13,545,600,000
And it ranged from 5B to 8B for over a year with "0" volume. I guess people were too scared to buy at that time. [Reply]
I hedged wheat too early. If you want to look at madness in a market look no further than the Kansas City Wheat. There is a bunch of wacky ass shit going on both on the board and locally. [Reply]
Originally Posted by Buehler445:
I hedged wheat too early. If you want to look at madness in a market look no further than the Kansas City Wheat. There is a bunch of wacky ass shit going on both on the board and locally.
We're reliving 2008, that's the year that did me in with $8 corn. [Reply]
Originally Posted by Hog's Gone Fishin:
We're reliving 2008, that's the year that did me in with $8 corn.
2008 was the year wheat went nutty. 2012 corn went to $12, so be glad you didn't have to stock up on that shit.
But even back in 08, the elevators would still offer a bid on the July contract for wheat. My coop and Garden City Coop are the only elevators still offering bids on the July contract. Everyone else has moved to the Sep (ginormous inverse carry) or offering no bid at all.
A broker told me there was an end user that was trying to buy wheat, delivered like now, of the July 2023 futures. Nevermind that that is 20% off the July market.
Originally Posted by KCUnited:
Not sure who in here was floating the prospect of energy stocks but I took a flier on XLE in the mid 60s.
So thanks!
Yeah, I bought some Oneok that I made a little money on. It wasn't outstanding money, but it was green. Unlike the rest of my brokerage account. [Reply]
