18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,533 Blog Posts


All of the foibles lie in Silicon Valley. Even their banks are stupid. These are vacuous, evil people and they should be sold short. I know it’s not possible to sell short a human being — but the closest you can come to that is to identify the evil of Silicon Valley and to bet against their industry: tech.

I am not suggesting tech is finished — far from it. But what I am saying, if anything should go down — it will be tech that goes down the most. These are companies that were started via VC Ponzi schemes, kept alive with an abundance of cash and then dumped onto the proles and sold to them by their media as the next big thing. We have come to realize over the years that maybe 10% of what they dump on the proles is any good. And here we are betwixt a crisis and the lunatics running the asylums with juice bars and personal chefs keep tossing good money after bad in their SAAS models — aka cash burners and pretenders of wealth creation.

Meanwhile, the reviled oil sector, mostly filled with conservatards, just recently survived NEGATIVE $35 per barrel crude, are on sale. If it were me, and thank god I am not, I would REDUCE my tech holdings in favor or oil and gas.

Since I do the quant I have no need to even think about where I am allocated, since my brain only focuses on hedging and overnight trades. But for you, the layman worker inside the coal mines, do yourselves a favor and avoid high growth tech — maybe down to 10% of holdings.

If you enjoy the content at iBankCoin, please follow us on Twitter

One comment

  1. flea

    “If it were me, and thank god I am not…”

    • 0
    • 0
    • 0 Deem this to be "Fake News"