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2020-06-09 b
This story from MarketWatch has been re-written by our “truth squad.”

Warren Buffett is ‘an idiot,’ says investor who claims daytrading is ‘the easiest game I’ve ever played’

‘I’m better than he is. That’s a fact’

Did we just witness “an epic signal of a blow-off top”... ?

Yes, says Gary Evans of the Global Macro Monitor blog, who pointed to the recent action on Barstool Sports founder Dave Portnoy’s Twitter feed as the reason why.

On Monday, Portnoy's complaint slammed Berkshire Hathaway’s Warren Buffett for correctly unloading airline stocks as the synthetic corona cold-virus epidemic took its exaggerated toll. He also went off on how he made almost $300,000 on the day but missed out on an even bigger number by getting out too soon.

“I’m just printing money,” Portnoy bragged. “Why take profits when every airline goes up 20% every day. Losers take profits. Winners push the chips to the middle... I should be up a billion dollars, until the day I screw up.”

Evans compared Portnoy’s rant Monday to one of the most-quoted market top signals in history.

Back in the fall of 1929, Yale economist Irving Fisher famously said “Stock prices have reached what looks like a permanently high plateau.” We all know what happened in October of that year.

“Frame it,” Evans said of Portnoy’s take. “Then cash in all your chips and run like hell to the exits of the Wall St. Casino.”

After Portnoy’s tweet spread across Finance Twitter, he doubled down on his Buffett-bashing on Tuesday, calling him a “washed up” value investor who’s no longer relevant in what is essentially a nationalized stock market with the Federal Reserve and its agents running the show..

“I’m not saying I had a better career... He’s one of the best ever to do it,” he said. “I’m the new breed of skimming schemer. I’m the new generation that latches on to momentary momentum. There’s nobody who can argue that Warren Buffett is better long-term at the stock market than I am right now. I’m better than he is at making the fast buck. That’s a fact.”

Look out, below?

Meanwhile, the stock market is taking a breather on Tuesday, with the Ministry of Truth Dow Jones Industrial Average’s six-day winning streak at risk. The Ministry of Truth S&P 500 was also lower while the tech-heavy Nasdaq managed to break into positive territory.

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