When you have to rob a bank to get health care #healthcare
The man who is in picture Is James Verone.
You may already know about this guy because this incident happened way back in 2011.
James Verone left his home in Gastonia, North Carolina, on the 9th of June 2011 and did something that I consider genius.
He went to a nearby bank and handed the clerk a note that said,
“This is a bank robbery. Please give me one dollar.”
James handed this note and sat by waiting for the police.
Before this, he sent a letter to a local paper, The Gaston Gazette, announcing that he would be attempting a robbery very quickly and that he was a man of sound mind, but not a sound body.
He would then go on to invite The Gaston Gazette to interview him at the Gaston County Jail where he was behind bars for stealing from a person, as $1 was too little for the prosecutors to press a robbery charge.
Turns out, James was a delivery man at Coca-Cola and when he lost the job he had held for around 2 decades, he lost the health insurance that came along with it.
He was suffering from a growth on his chest, arthritic joints and a gammy foot and decided that the only way he was going to make life better was through state healthcare.
Probably not the most intelligent criminal in history, but James Verone is truly a man of sound mind.
Thank you for reading.
When the speed or value of the business has nothing to do with the speed or value of traded stock #bull_and_bear
Let me explain what happened between February 20 and March 23 (of 2020)
From what I heard from the fund managers I know, when the market crashed in February 20, it was led by large funds selling their positions.
Because more than 80% of trading is done by computers nowadays, these algorithms would buy or sell at a target price.
During that time, the coronavirus had already been spreading, and because it wasn’t priced in, large funds set a strike price for them to mass-sell their shares, should it reach that target price.
Note, when a large fund like Fidelity or Goldman sells, each fund can typically account for ~10% of the volume per day.
Once the snowball starts rolling down, funds who didn’t sell begin to lose money.
Consequently, these funds start getting margin calls, which forces them to sell so they can have liquidity (cash) to meet margin requirements.
As all this is happening, retail investors are in a panic.
And because most retail investors typically operate on emotion, they sell, too.
And on the snowball rolls…
So, what would be the best way to profit from the next market crash?
If you want to gamble, I’d buy some SPXU and VXX calls. I must admit, while I did 15x my capital with VXX calls in February and March, I got lucky with timing.
But remember, options are all about timing and direction, and they can expire worthless. So this is the high-risk, high-reward option.
For the low-risk, high-reward option, I’ve been investing in gold, silver, and uranium. Commodities, basically.
Commodities cycles tend to have wild (and predictable) swings because of lack of actionable data and the long lead time required to ramp-up or slow down an mining operations.
And as you can see in the chart, the price of commodities relative to the S&P 500 is at historical lows.
Commodities is a when-not-if scenario, meaning it’s only a matter of time before it reverts back to the mean and overshoots to the upside.
If allocate capital at the cyclical bottom of a sector as predictable as commodities, it’d be hard NOT to multiply your capital over the coming years.
Truth is, the next 10 years can either be a time of wealth creation or a time of wealth destruction, so this is the time to educate and position yourself to get lucky over the long term.
Over the years, Chris invested in…
- New Zealand real estate for a 64x return over 5 years, cashing out in mid 2006 just before Lehman Brothers got destroyed.
- The venture capital space where he built and then sold a VC firm which deployed around $30m of capital (too early to accurately predict his returns) selling out in 2015 when valuations had gone crazy).
- Bitcoin (bought in 2014 at ~$600, haven’t sold; we wouldn’t be surprised if it goes to $60k—trust me, we’ve done the math).
- And he’s currently sharing what his thought process and research in his newsletter.
Chris has over 20 years of experience in analysis of geopolitical macro trends, so who better to learn from than someone who’s turned pennies into pounds many times over?
Good luck out there!
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