03-11 Politically Incorrect Daily

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bathroom doors no balls at birth
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message biggest cancers of society george soros bill gates klaus schwab
quote bertrand russell fascism first fascinate the fools muzzle the intelligent

Starting the Dump Phase?

A few days ago I wrote in a blog about Wall Street & the financial press’s tendency to pump-n-dump stocks; I specifically mentioned Nvidia, now a $2.2 trillion dollar company. Could they be starting the “dump” phase?

headline cnbc nvidias terrible friday momentum
headline cnbc nvidias massively overbought stocks

This is not to say that Nvidia isn’t a great company. I’m simply stating that the financial industry & media love to make themselves rich by overpumping good companies to insane levels that have no reasonable connection with profits & cash flow-based valuation models. Then, as they jump ship, they save their credibility by coming up with reasons why they must now sell, beginning the “dump” phase. In my blog I specifically mentioned Cisco as an example of a great company that was pump’n’dumped. Here’s a Yahoo Finance chart of Cisco’s stock price the past 35 years. See if you can spot the pump’n’dump phase. 🤔

cisco yahoo finance stock chart

If you want more recent examples, look at charts for Zoom or Tesla. Maybe I’m wrong though. Maybe Nvidia is bid up to a $3 or $4 trillion dollar company, surpassing Apple & Microsoft. You never know how high a stock will get before enough investing pros figure out the numbers just don’t add up, or if they find enough other reasons to dump the stock. Case in point–Tesla, one of the most overhyped companies ever based on profit & cash flow projections. When Elon Musk stood up for free speech by buying Twitter in 2022, he became an enemy of CNBC and the rest of the financial media, meaning there was no longer any reason to overhype the company. Check out its chart up to and after 2022.  Spot any pattern? Oh, they’ll say it’s based on disappointing profits or growth, as if the valuation was based on any of that in the first place. 🙄

tesla stock chart yahoo finance 2023

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11-29 Politically Incorrect Daily

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Dipshit Ass Clown with Zero Understanding of Economics

cnbc biden price gouging corporations

A commonality of EVERY communist dictator is the redirecting of anger at their failed policies to other convenient targets.

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Never Held Accountable

The stock market as a whole is up lately, but if you drill into it a little, almost all the gains can be traced to a few large stocks such as Nvidia, Amazon, and Microsoft. The vast majority of individual companies are down for the year, especially ones that sell fundamental necessities like food and gas. This disparity is partially driven by higher costs and a shaky economy, but also with the all too common practice on financial channels of “pump’n’dump.” This is where advisors & commentators oversell stocks they own, driving the price up (pump), then sell for a large profit, starting a spiral down of prices (dump). Financial personalities like Jim Cramer are never held accountable for wrong stock picks, and his success rate is obscured by short-term gains he himself brings on with pump’n’dump techniques. As long as you jump on the bandwagon at the right time, you might be alright in the short run, but look out if you’re at the other end of it. If you watch some advisors regularly, it’s almost comical how they switch their allegiances on certain stocks from quarter to quarter.

The latest pump’n’dump craze is Artificial Intelligence, which is why you see AI-heavy companies like Nvidia and Microsoft soaring, Anyone who’s worked in AI can tell you these financial commentators really don’t have a clue how the technology actually works, and however amazing certain technology is, there often isn’t a clear way to turn it into actual profits. Ask IBM how much they’ve made from Watson, an AI technology that’s been around for decades. I expect a crash of certain stocks when this reality sets in, but don’t worry, your favorite financial TV personalities will be fine, as they will have dumped their positions well before the downward slide, and they’ll be on to the next great pump phase.

jim cramer like svb silicon valley bank still cheap
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Quote of the Day

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