Who’s a boomer now, Dogetards?
For a few months there, a legion of newly minted investors, convinced they invented daytrading with their stimulus cheques and chicken tendies, watched their $500 investments run to new heights, taking AMC Cinemas (AMC.Q) to a $28 billion valuation, and driving Bitcoin and Dogecoin to stupid new highs.
It was good while it lasted. Now the TikTok investor influencer crowd are telling folks to hang in as their portfolio loses digits every day, claiming it’ll all come back sometime soon. Meanwhile, the meme holdings shred daily..
Smart investing involves knowing when the tide is against you, and not letting it drag you under. It’s not about picking a team and hanging in all year, bitching that other people are weak for taking profits. It’s about being smarter than the others repeating that same excuse you are.
- AMC worth $28 billion? TAKE YOUR PROFITS.
- Dogecoin irrationally up from $0.07 to $0.68? LOCK IN THE WIN.
- Bitcoin up to $70k per? CASH IT IN.
Here’s the thing:
I hear you shrugging and saying you’re buying on the dips. I hear you calling me a Monday morning quarterback. I hear you claiming ‘nobody can time the markets.’
EXCEPT I DID. TO THE FREAKING DAY.
When the markets dip because everyone is buying crypto, that’s a good time to buy stocks and, like, wait two weeks.
— 🆒EquityGuruCP (@ChrisParry) April 19, 2021
Bitcoin topped the day after that tweet, and has torpedoed downward since. Dogecoin hung in for a week, then did same. Most folks caught up in that game didn’t sell a damn thing through the down move because all they’d ever known was stonks going up. Between Robinhood and WealthSimple ads and a few dozen creaking crypto exchanges offering handies for anyone who joined and The Fed printing money as fast as they could keep the ink cartridges full, the markets managed to convince another generation that it’s irresponsible to sell.
Hell, Robinhood even made it impossible to sell when it was convenient for their bottom line.
Y’all been played, bois. They told you Coinbase (COIN.Q) was going to rocket, and it’s been bled out by insiders since the day it hit the markets.
AMC Cinemas are sitting on that high and folks are on Reddit yelling that 100k is coming rather than raking profits. Dogecoin went from $0.69 down to $0.25 and the true believers are still blaming ‘weak hands.’ Bitcoin has halved and still has no actual use in modern life that can’t be replicated with baseball cards and beanie babies.
Meanwhile, we bought into Marvel Discovery (MARV.V) at $0.08. While your crypto ate dirt, MARV doubled.
You’re damn right I’m taking a victory lap. New readers don’t know I called two marijuana market catastrophe drops – to the day – in years previous, so y’all out there thinking the boomer got lucky on this one…
Nah. We saw. We knew. We called our shot.
And we rode winners in the smallcap space hard while your crypto smeared the walls in its own waste.
- Arizona Metals (AMC.V) to an 8-bagger!
- Globex Mining (GMX.T) to a double!
- Cybin (CYBN.C) to a double!
- Golden Lake Mining (GLM.C) to a double!
- Gold Mountain Mining (GMTN.V) to a double!
- Perimeter Medical Imaging (PINK.V) to a double!
Of course, not everything went hyperbolic. Everything never does. But the greater point here is, if you try to be the last guy to sell before things go bad, you’ll always miss. I’d rather miss some of the last days of a huge rise and lock my profits in than treat my portfolio like lottery tickets and justify it all the way down.
You wanna get rich on the markets? It doesn’t come with one bet. It comes with lots of smart bets, timed well on the exits, taking your wins and moving on while the crowd is still chasing. If I don’t miss some profits because I sold too early, I consider it a bad trade.
Those companies above are all good, smart deals performing exactly as we said they might, and if you followed us in, well done.
Here’s the thing: If you sell them today, you’re not betraying the team. You’re not ‘weak hands’. You’re a smart investor taking free money.
YES YES, I KNOW, CRYPTO WILL COME BACK.
Of course it will. So will oil and gas. So will baseball cards. But if you’re hanging on underwater waiting for that day, you’re doing it wrong.
Marvel Discovery is a small mineral explorer that you could buy outright at the cost of 1/3 of a single Bitcoin.
Why would you buy it instead of a Bitcoin? Assuming you’re looking for a double on your investment, which is more likely to happen first -Bitcoin rises to from $48k to $90k, or Marvel rises from $0.15 to $0.30?
I’m betting on Marvel, because it’s picking up land like your drunk uncle picks up Pilsner, it’s executing moves and raising money and only needs to do basic mineral exploration work in quick time to make that double likely, and its market cap is low enough that a double isn’t heavy lifting. To get an 8-bagger, like we did on Arizona Metals, you’d need Bitcoin to rise to $320k before MARV rose to $1.20.
Look, I get it, it’s fun to fantasize that crypto is going to ‘break Wall Street’ or that buying 100 shares of AMC will cause hedge fund shortsellers to tremble in their shoes, but the idea here should be to make your money multiply, not use it for lulz.
Act like you’ve been there before. Act like an investor, bois.
— Chris Parry
FULL DISCLOSURE: All the companies mentioned, other than AMC Cinemas, are Equity.Guru marketing clients.