Press "Enter" to skip to content

Newsletter

Hard Money Newsletter sent on November 23rd.

Weekly Commentary

$RIVN production numbers, Ken Griffin trolls the Apes, HMMDP has a down week, Fed Chair doesn’t matter, and it’s time to Short the Holidays for real cash prizes – here are the headlines:

You take an idea, you write up a PowerPoint presentation, and then you have a big party called an IPO: congratulations, you just invented a concept stock! These stocks are so much fun because they don’t need to worry about things like revenues and earnings. The valuation metric is… what can you dream. Take Virgin Galactic ($SPCE) which is supposedly going to launch people into space for fun. That stock was valued as high as $15 billion before people realized that you can’t even breathe in space!
Of course, sometimes a concept stock works out, like Tesla. So, um… the truth is, concept stocks can give you tons of trading opportunities, but you’re trading pure news flow. Once they convert over to a business with real operations, the stock usually suffers little indigestion as investors try to change their valuation ideas from dreams to more traditional concepts like earnings or cash flow. From there, it comes down to how people view the actual business that just got invented.

That constitution didn’t even come with an NFT so does it even exist?
Look, Ken Griffin is a stone-cold genius. He started with a hedge fund but built it into a trading platform that powers the guts of the stock market today. He beat ’em and then he joined ’em and then for his final trick, he fooled ‘em all: He paid paper for a piece of paper. *Chef’s Kiss!*
Take everybody’s favorite holiday… add in arguably the best stock market movie ever… and there’s just one thing to say: https://www.youtube.com/watch?v=gNJlTehNxp0
Happy Thanksgiving from your friends at Hard Money!

HMMDP Portfolio Update

The HMMDP portfolio marked $132,906 as of Monday’s close, up 1,229% since inception – turns out, when crypto drops, bad things can in fact happen again 🙁 The bio stonks provided some stability over the last week while BTC and ETH sold off from ATHs.
In last week’s Stonks pod, Voyager CEO, Steve Ehrlich joined immediately after announcing fiscal-year first-quarter earnings to celebrate HMMDP Portfolio ATHs. Steve dives into Voyager – why he decided to focus on altcoins, the deal with Marc Cuban, working with Sam Bankman-Fried, the business model, and how volatility is actually GOOD for Voyager… If you haven’t listened yet, you absolutely should – the audio is up via buttons below and the video is up on the Hard Money Youtube.
We will be taking a break this week for Thanksgiving and getting back to the grind next week!

Reader Q&A with Enrique Abeyta

Does It Matter Who The Fed Chairman Is?
The last few weeks there was a lot of press about this subject and discussion but our view is it does NOT MATTER at all!
Remember that the media is built to talk about stuff and try to make it seem important so that we will click on it. We think that 90%+ of the “news” that is reported as relevant to the markets is actually not relevant at all. THIS topic is one of the more irrelevant.
NOW there may be a time in our lifetime where we see such a large move in the political spectrum that the makeup of the Federal Reserve makes a difference but think it is unlikely.
Now next week we will briefly address whether the Federal Reserve matters at all! Have to figure out how to cover that in 3 sentences – haha!

If you’re reading but haven’t subscribed, join below!-

Get The Newsletter

Lose-A-Million Contest Update

from John W. Rich (WEALTHY)

Lose-A-Million Contest Update

from John W. Rich (WEALTHY)
As we head into the final stretch of the “Lose a Million” contest, it’s a two-horse race for first place: Crizz265 and Barren Wuffet have both lost over 50% of their portfolios in under a month. Less than $3,000 separates them as we wrap up the contest.
Whoever wins will be dining like a king for Thanksgiving: First prize is $400 plus a $100 gift card to Wendy’s (unless the winner opts for all $500 to be paid in Wendy’s gift cards, like any sensible consumer would).
We’ve seen some truly inspiring money-losing trades. $DWAC is down 66% since we started this contest, while Phunware is down more than 71%. Our top traders really ticked the exact top in many of these names, including DatChat Inc (down 52%) and Grom Social (down 45%).
I’m only down a measly 1% since we started, no thanks to my large gains from shorting Bitcoin names ($MSTR and $GBTC). If my investors heard that I made money shorting Bitcoin for once, they’d be elated.

Now it’s time to “Short the Holidays”

Starting on Monday 11/29 at Market Open, Hard Money‘s next contest with Vig.io will kick-off. This time, the contest will last 5 days, ending at Market Close on 12/3 and putting money in winners’ hands 4x faster.
So, instead of arguing with your family about being a “full-time alt asset trader”, short the holidays all together by signing up for Vig, joining the new game (below) before 11/29, and following HM’s Discord (below), Twitter, and this newsletter to stay up to speed on current and future contests!

Short the Holidays – Mobile
Short the Holidays – Desktop

 

New pods drop each week – Subscribe and Listen

Listen on Apple

Listen on Spotify

Trade Desk (HM Discord)

Follow the HMMDP trades in real-time, talk markets, crypto, and NFTs with HMMDP hosts, and access audio/video podcasts as soon as they’re published… If you’ve wondered what it’s like to sit on a trading desk, the Discord is a weird internet version of that.

Have Questions?

Trading questions you’d like answered in future episodes of Hard Money’s Million Dollar Podcast? Send them to [email protected] – be sure to add “Question” in the subject line.