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Dave Portnoy: Why It’s Not Always Easy to Profit in the Market

Dave Portnoy: Why It’s Not Always Easy to Profit in the Market

Posted On May 19, 2020 3:00 pm
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So, how do you create a stock market bubble in the midst of a global pandemic in four easy steps?

  1. Take interest rates to 0.00. Creating more debt to solve a debt problem, causing deflation and inflicting economic repression on savers, people dependent on yield, and other fiscally responsible parties is a good start.
  2. Cut trading commissions to 0.00. What we lose in margin we make up in volume. See below for additional comments on why this has become the best of times for fintech-focused firms.
  3. Make the printing press go Brrrrr, creating trillions of dollars, see how that just rolls off the tongue, into not only market plumbing but also directly into people’s bank accounts. The Obama Phone program ain’t got nothing on this administration currently ‘we’re all in this together’ largess.  Me, I’m still waiting for my $1,200 smackers
  4.  Shut down all the offices and sports and force everyone to sit at home. Hmmm, where does a junkie fix his or just make a damn honest living?

The poster child for the last item is… Continue reading at StockNews.com

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About author

Steve Smith
Steve Smith

Steve Smith have been involved in all facets of the investment industry in a variety of roles ranging from speculator, educator, manager and advisor. This has taken him from the trading floors of Chicago to hedge funds on Wall Street to the world online. From 1987 to 1996, he served as a market maker at the Chicago Board of Options Exchange (CBOE) and Chicago Board of Trade (CBOT). From 1997 to 2007, he was a Senior Columnist and Managing Editor for TheStreet.com, handling their Option Alert and Short Report newsletters. The Option Alert was awarded the MIN “best business newsletter” in 2006. From 2009 to 2013, Smith was a Senior Columnist and Managing Editor for Minyanville’s OptionSmith newsletter, as well as a Risk Manager Consultant for New Vernon Capital LLC. Smith acted as an advisor to build models and option strategies to reduce portfolio exposure and enhance returns for the four main funds. Since 2015, he has worked for Adam Mesh Trading Group. There, he has managed Options360 and Earning 360, been co-leader of Option Academy, and contributed to The Option Specialist website.

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