There are only two priorities:

Grift + Griftmore
"Let's expand inequality by giving tax cuts to the rich." - Cham, UNIRONICALLY

Notable how 'Cham the scam' doesn't address inequality between ordinary income vs capital gain tax rates (don't get me started on the inequality versus HF/PE 'carry').

If you're serious, you address reducing ordinary income, or at least eliminating differences between these.
or what about the inequality in rent vs mortgage tax treatment? See a common pattern here? #ChamTheScam and other grifters are advocating additional wealth redistribution from labor to capital. From the poor to the rich.
If #ChamTheScam were serious about "reducing inequality" he would address these structural problems. OR, he would advocate capital gains tax cuts only applicable to those with net worth below certain threshholds.

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More from @LongShortTrader

31 Jan
-53%

That could be you or me ... markets humble all.
Also, there’s another fund that is -49% YTD, mentioned in that same article. Barely talked about in public forums!
Everyone has a plan until they get punched in the face
Read 4 tweets
30 Jan
Thus, long $GME is like a synthetic short Robinhood position (at least, currently).
Long $GME was a synthetic short Melvin position just until about Tuesday as of this week. It’s morphed into a short Robinhood position.
Exactly, it’s currently more like a macro knife fight, speculators vs speculators. Those citing revenue multiples, valuation, etc are either missing that or willfully omitting it.
Read 6 tweets
30 Jan
“Casino-like swings in stock prices of GameStop reflect wild levels of speculation that don’t help GameStop’s workers or customers and could lead to market instability.”

The inconvenient truth is that should GameStop issue capital, this false as it would help workers + customers
And actually, my assessment was way too conservative: actually, the skyrocketing stock price has given the business free publicity, which benefits the company, its employees, and customers. I think the $30 billion question is why the company hasn’t issued equity yet.
So as counterintuitive as it may seem, the massive losses for short sellers has benefited the company, and may permanently alter its trajectory in a manner that benefits employees and customers. We shall see.
Read 7 tweets
30 Jan
I don’t personally know Melvin/Plotkin, and I don’t know if this is true, but if it is, it would partly explain why @StevenACohen2 backed him earlier this week. Not to mention that Plotkin probably made a lot of money for Cohen over the years.
Unfortunately, looks like Steve Cohen is no longer on twitter @StevenACohen2
Agree 💯 Twitter was much better with him on here, oh well
Read 8 tweets
29 Jan
Less profitable than -50%?

"Short-biased funds lost 47.59 percent through November 2020"

If losing -50% is your idea of profitable? what's your idea of unprofitable?

You're entitled to your own opinions but not to your facts.
"man, short selling funds don't lose enough money: we gotta punish them even more!" - @balajis
Read 4 tweets
29 Jan
In light of Robinhood lying about its liquidity position and then subsequently raising capital, lets take a stroll down memory lane:

“Lehman raises $4 billion of capital to hush critics” - April 2008

reuters.com/article/us-leh…
Washington Mutual to Get $7 Billion in Fresh Capital - April 2008 cnbc.com/id/24011140?__…
“Deutsche Bank raises capital, and changes course” - March 2017 economist.com/finance-and-ec…
Read 6 tweets

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