Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Until the FOMC tomorrow, the market’s machinations are largely just going to be marking time, so there will be silly posts on occasion, like this one. So here goes, with two simple images: these were published EIGHT MINUTES APART. So I guess CNBC has finally figured out a way to point to their predictions and know with certainty they can claim to being accurate? Honestly, this is beyond my ability to parody at this point.
As you’re surely aware by now, the most widely-followed earnings report after the close on Wednesday was Facebook (umm, Meta), and they’re getting destroyed after hours. I first gained awareness of “The Facebook” years before most people, since their first real office was literally one block from my own in Palo Alto. Many times I would see Zuck walking around the streets, talking to employees one-on-one or, occasionally, jogging. I even remember their chalkboard sign propped up on the sidewalk encouraging applicants to come in to get a job at TheFacebook.com. Little did any of us know that it would (briefly) be a trillion dollar company. Here are some thoughts I have on the matter………..
The stock has already had a wretched year before today, but they’re getting torched by another 20% after hours (and what idiot jumped in immediately after the close and paid $142 for this thing, hoping to get in cheaply?)
It’s been said for years that no real bear market can happen until Zerohedge goes bullish. I guess it’s finally happened. See, ZH opened its doors in February 2009, almost to the exact day of the market bottom. They spent the next dozen years talking about how the market should go down, all while it kept going up. Well, they’ve changed their tune, big time. They’ve become more and more stridently bullish, and in just the past few hours, there’s been this maelstrom of Jim Cramer-level buy/buy/buy vibes:
I happened to see on Twitter that Cramer had recommended SNAP in July of last year. As I always took, I took a screenshot, highlighted the date, slapped it on the chart, and har-de-har-har, this guy sucks.
But, for once, I actually took the time to listen to the clip. Oh my GOD. I seriously overestimated the guy. Just listen to him. Hear his “rationale” for buying it. Simply stated, it’s because SNAP is worth a lot of Evan Spiegel is working hard. That’s seriously it. Jesus CHRIST, where can I get paid $5 million for being the biggest fool in the world?
