Found at MarketWatch…
Listen to this dangerous man who I guess started some company that talks about sports.
— Dave Portnoy (@stoolpresidente) June 8, 2020
Angrily: “I sold so much of my Airlines because of you ‘take profits’ people.”
He was mad at himself (or pretending to be) on June 8 for selling his airline stocks before the top, blaming “old man Buffett” and bitching on a day these stocks were up another 15% or more. I guess he’s the new breed, here to obsolete we old fogies with outmoded notions of risk management and whatnot. The herds of sheep he is emblematic of have been sheared since that very day.
The day of the rant JBLU (a bounce vehicle I flew to a 43% profit) topped right at the down trending 200 day moving average. I realize Dave Portnoy must be some sort of outrageous self-promoter prone to ridiculous outbursts and hyperbole to have accumulated legions of dopey sports talk fans with nothing better to do, but that is one dangerous video. The Airlines were a great bounce trade. But the trend is down.