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"My elderly father just called. Old-school guy who never wants to "bother" me, so he only calls if something's of real concern.

Turns out he's heard all about buying panics in stores and selling panics in markets. He bragged that he'd already stocked up on enough toilet paper and frozen/canned good to last him weeks.

Then he said we should probably sell his stocks. (I manage his accounts). He'd forgotten that in January I insisted he be net short stocks and long gold & silver going forward "at least until crashing stock markets page front-page news" ... which arguably is now. I've covered some shorts in recent days.

The last time he asked about making a specific change in his investments? He wanted to buy the bitcon THE EXACT DAY IT TOPPED. Of course not only did we not buy the bitcon, thanks to his call I shorted the **** out of it.

Gonna stay very net short stocks going forward of course, nothing to do with elections or viruses just common sense and based on valuations same as before the virus scare and Bernie/Biden developments.

Dad's a great barometer of what the lemming herd is doing though, so that along with idiots telling me they started shorting stocks today and buying "gold" (paper) using levered instruments ... well it's ALWAYS been best to take the opposite sides and I very much doubt it's different this time. "

https://www.zerohedge.com/political/things-get-interesting-will-trump-be-forced-postpone-election?commentId=b9827ec2-dca9-4bb9-8d06-7d339104d494

"My elderly father just called. Old-school guy who never wants to "bother" me, so he only calls if something's of real concern. Turns out he's heard all about buying panics in stores and selling panics in markets. He bragged that he'd already stocked up on enough toilet paper and frozen/canned good to last him weeks. Then he said we should probably sell his stocks. (I manage his accounts). He'd forgotten that in January I insisted he be net short stocks and long gold & silver going forward "at least until crashing stock markets page front-page news" ... which arguably is now. I've covered some shorts in recent days. The last time he asked about making a specific change in his investments? He wanted to buy the bitcon THE EXACT DAY IT TOPPED. Of course not only did we not buy the bitcon, thanks to his call I shorted the **** out of it. Gonna stay very net short stocks going forward of course, nothing to do with elections or viruses just common sense and based on valuations same as before the virus scare and Bernie/Biden developments. Dad's a great barometer of what the lemming herd is doing though, so that along with idiots telling me they started shorting stocks today and buying "gold" (paper) using levered instruments ... well it's ALWAYS been best to take the opposite sides and I very much doubt it's different this time. " https://www.zerohedge.com/political/things-get-interesting-will-trump-be-forced-postpone-election?commentId=b9827ec2-dca9-4bb9-8d06-7d339104d494

(post is archived)

[–] • 1 pt

you are a horrible child to do that to your aged parent.

[–] • 1 pt

I sold two weeks ago, but I'd argue it might still be a good idea to sell.

But the panic isn't over yet. Good deals will be had in the near future, but we have to just wait a little. Let the people see some supply shortages.

[–] • 1 pt

Shit is amazing

Literally (zerohedge.com) worse than the spanish flu

>On the other hand, the World Health Organization (WHO) announced yesterday that the mortality rate from the Wuhan Coronavirus (formally known as 2019 nCoV) is 3.4% globally.The Spanish Flu of 1918 – which killed between tens of millions of people – had a lower mortality rate, estimated by the WHO as between 2 and 3%. But surely, you say, the Coronavirus is not as contagious as the Spanish Flu … Unfortunately, it’s more contagious. The Center for Infectious Disease Research and Policy notes: Based on calculations, the authors of the larger study estimate the novel coronavirus has an R0 of 2.2, meaning each case patient could infect more than 2 other people. If accurate, this makes the 2019 nCoV more infectious than the 1918 influenza pandemic virus, which had an R0 of 1.80 (interquartile range: 1.47 to 2.27).

Needless to mention a world of debts, the so called bubble of everything, derivatives... Economies coming to a halt, super domino defaults... Already I feel like starring at the abyss

And then, I start to imagine mini riots around supermarket reloading... Trucks getting looted... Not going to reload again...

And on, and on, and on...

Rofl

[–] • 1 pt

Just wait for the price gouging.