MGM Resorts International is up over 7% this morning, as certain Credit Suisse analysts get taken to task for trying to corner wounded animals.
That’s a massive run on the back of a less than expected loss.
That’s where things have come to. MGM has been so thoroughly discounted out of the fight that their share price can push up almost double digits in a single trading day while they’re losing money.
I have said before, do not underestimate the power of survival in the face of certain demise. If MGM lives while continuing to pay off debt, the mere fact of its continuation will facilitate exponential stock market gains that thoroughly put to shame its competitors over the next years; just like the stock performance of MGM’s competitors have put MGM to shame up to now.
Silly Swiss bankers will not sway that reality.
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MGM now up 11% for the day, while all other casinos are down multiple percentage points.
I feel like asking MGM’s detractors, how’s it feel you vermin?
Deployed my entire 10% cash position to buy up SLV. This is a forced liquidation of a highly desirable asset in a secular bull market. Yeah, no way I’m passing that up.
Gobble up the happless sales of the unwilling!
However, I am a believer in cash, right now, so I’ll probably be raising more in the next week or so, and will look to sell silver at the first, most convenient time.
Thanks for sharing Thaler.
You are welcome.