When people ask what the market was like in early 2021, I will tell the story of shorting a company at a 200% premium to the market value of its only asset (easy to ascertain since that asset was cash), seeing the stock drop 46% two weeks later, and breaking even on the trade.
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See Matt Levine's piece from today. (I shorted it at $30ish, it went up to $60, now down to $35)
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damnit I was being good and concentrating on work so I deleted his email oh well ... back to work!
End of conversation
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