‘ I’m better than he is. That’s a fact’.
Did we simply witness “an epic signal of a blow-off top” …?
Yes, says Gary Evans of the Worldwide Macro Display blog site, who pointed to the recent action on Barstool Sports creator Dave Portnoy’s Twitter feed as the reason that.
On Monday, Portnoy slammed Berkshire Hathaway’s.
Warren Buffett for dumping airline stocks as the coronavirus epidemic took its toll. He likewise went off on how he made nearly $300,00 0 on the day but missed out on an even bigger number by going out prematurely.
” I’m just printing money,” Portnoy stated. “Why take earnings when every airline company increases 20%every day. Losers take profits. Winners push the chips to the middle … I should be up a billion dollars.”
View the clip:
Evans compared Portnoy’s rant Monday to one of the most-quoted market top signals in history.
Back in the fall of 1929, Yale financial expert Irving Fisher notoriously stated “Stock costs have reached what looks like a permanently high plateau.” We all understand what took place in October of that year.
” Frame it,” Evans said of Portnoy’s take. “Then run like hell.”
After Portnoy’s tweet spread throughout Finance Twitter.
, he doubled down on his Buffett-bashing on Tuesday, calling him a “washed up” financier who’s no longer relevant.
” I’m not saying I had a much better profession … He’s one of the best ever to do it,” he said. There’s no one who can argue that Warren Buffett is much better at the stock market than I am right now.
Watch Out, below?
Meanwhile, the stock exchange is taking a breather on Tuesday, with the Dow Jones Industrial Average’s.
six-day winning streak at danger. The S&P500
was also lower while the tech-heavy Nasdaq.
managed to break into favorable territory.