2020 LEGENDS | Casino Entertainment Awards - hot.playtoprealmoneygame.xyz

Edit 1: More ARKQ buying today (~50k shares). Thank you everyone for the positive feedback and discussion!
Bottom Line Up Front (BLUF) or TL;DR for the non-military types:
LMT is a good target if you want to literally go to the moon, and my PT is $690.26 in two years (more than 2x from current levels). Justification and some possible trade ideas are listed below, just CTRL-F “Trade Ideas”. I hope you guys enjoy this work and would appreciate any discussion or feedback. I hope to catch you in the comments.
Team,
We interrupt today’s regularly scheduled short squeeze coverage to discuss a traditionally boring stock, LMT (Lockheed Martin), with significant upside potential. To be clear, this is NOT a short squeeze target like many reddit posts are keying on. I hope that this piece sparks discussion, but if you are just looking for short squeeze content, all I have to say is BUY, HOLD, and GODSPEED.
The source of inspiration for me writing this piece is threefold; first, retail investors are winning, and I believe that we will continue to win if we continue to identify opportunities in the market. In my view, the stock market has always been a place for the public to shine a light on areas of innovation that real Americans are excited about and proud to be a part of. Online communities have stolen the loudspeaker from hedge fund managers and returned it to decentralized online democracies that quickly and proudly shift their weight behind ideas they believe in. In GME’s case, it was a blatant smear campaign to destroy a struggling business. I think that we should continue this campaign by identifying opportunities in the market and running with them. It may sound overly idealistic, but if reddit can take on the hedge funds, I non-ironically believe that we can quite literally take good companies researching space technology to the moon. I think LMT may be one of several stocks to help get us there.
Second, a video where the Secretary of State of Massachusetts argues that internet boards are full of a bunch of unsophisticated, thoughtless traders really ticked me off. This piece is designed to show that ‘the little guy’ is ready to get into the weeds, understand business plans, and outpace analysts that think companies like Tesla are overvalued by comparing them to Toyota. That is a big reason that I settled on an old, large, slow growth company to do a deep-dive on, and try my best to show some of the abysmal predictive analysis major ‘research firms’ do on even some of the most heavily covered stocks. LMT is making moves, and the suits on wall street are 10 steps behind. At the time of writing this piece, Analyst Estimates range from 330-460 (what an insane range).
Third, and most importantly, I am in the US military, and I think that it is fun to go deep into the financials of the defense sector. I think that it helps me understand the long-term growth plans of the DoD, and I think that I attack these deep-dives with a perspective that a lot of these finance-from-day-one cats do not understand. Even if no one ever looks at this work, I think that taking the time to write pieces like this makes me a better Soldier, and I will continue to do it in my spare time when I am feeling inspired. I wrote a piece on Raytheon Technologies (Ticker: RTX) 6 months ago, and I think it was well-received. I was most convicted about RTX in the defense sector, but I have since shifted to believing LMT is the leader in the defense space. I am long both, though. If this inspires anyone else to do similar research on other companies, or sparks discussion in the community, that is just a bonus. Special shout-out to the folks that read more than just the TL;DR, but if you do just read the TL;DR, I love you too!
Now let us get into it:
Leadership
I generally like to invest in companies that are led by people that seem to have integrity. Jim Taiclet took the reins at LMT in June of last year. While on active duty, he served as a C-141B Starlifter pilot (a retired LMT Aircraft). After getting out he went to work for the American Tower Corporation (Ticker: AMT). His first day at American Tower was September 10, 2001. The following day, AMT lost 13 employees in the World Trade Center attack. He stayed with the company, despite it being decimated by market uncertainty in the wake of 9/11. He was appointed CEO of the very same company in 2004. Over a 16 year tenure as CEO of AMT the company market cap 20x’d. He left his position as CEO of AMT in March of last year, and the stock stagnated since his departure, currently trading at roughly the same market cap as to when he left.
Jim Taiclet was also appointed to be the chairman of the board this week, replacing the previous CEO. Why is it relevant that the CEO came from a massive telecommunications company?
Rightfully, Taiclet’s focus for LMT is bringing military technology into the modern era. He wants LMT to be a first mover in the military 5G space, military application of AI space, the… space space, and the hypersonic glide vehicle (HGV) space. These areas are revolutionary for the boomer defense sector. We will discuss this in more detail later when we cover the company’s P/E multiple and why it is absolute nonsense.
It is not a surprise to me that they brought Taiclet on during the pandemic. He led AMT through adversity before, and LMT’s positioning during the pandemic is tremendous relative to the rest of the sector, thanks in large part to some strong strategic moves and good investments by current and past leadership. I think that Taiclet is the right CEO for the job.
In addition to the new CEO, the new Secretary of Defense, Secretary Lloyd Austin, has strong ties to the defense sector. He was formerly a board member for RTX. He is absolutely above reproach, and a true leader of character, but I bring this up not to suggest that he will inappropriately serve in the best interest of defense contractors, but to suggest that he speaks the language of these companies effectively. I do not anticipate that the current administration poses as significant of a risk to the defense sector as many analysts seem to believe. This will be expanded in the headwinds section below.
SPACE
Cathie Wood and the ARK Invest team brought a lot of attention to the space sector when the ARKX, The ARK Space Exploration ETF, Form N-1A was officially filed through the SEC. More recently, ARK Invest published their Big Ideas 2021 Annual Report and dedicated an entire 7-page chapter to Orbital Aerospace, a new disruptive innovation platform that the ARK Team is investigating. This may have helped energize wall street to re-look their portfolios and their investments in space technology, but it was certainly not the first catalyst that pushed the defense industry in the direction of winning the new space race.
In June 2018, then President Trump announced at the annual National Space Council that “it is not enough to merely have an American presence in space, we must have American dominance in space. So important. Therefore, I am hereby directing the Department of Defense (DoD) and Pentagon to immediately begin the process necessary to establish a Space Force as the sixth branch of the Armed Forces". Historically, Department of Defense space assets were under the control of the Air Force. By creating a separate branch of service for the United States Space Force (USSF), the DoD would allocate a Chairman of Space Operations on the Joint Chiefs of Staff and clearly define the budget for space operations dedicated directly to the USSF. At present, this budget is funneled from the USAF’s budget. The process was formalized in December of 2019, and the DoD has appropriated ~$15B to the USSF in their first full year of existence according to the FY21 budget.
Among the 77 spacecraft that are controlled by the USSF, 29 of them are Lockheed Martin GPS satellites, 6 of them are Lockheed Martin Space-Based Infrared Systems (SBIRS), and LMT had a hand in creating and/or manufacturing for several of the other USSF efforts. The Next Generation Overhead Persistent Infrared Missile Warning Satellites (also known as Next-Gen OPIR) were contracted out to both Northrup Grumman (Ticker: NOC) and LMT. LMT’s contract is currently set at $4.9B, NOC’s contract is set at $2.37B.
Tangentially related to the discussion of space is the discussion of hypersonic glide vehicles (HGVs). HGVs have exoatmospheric and atmospheric implications, but I think that their technology is extremely important to driving margins down for both space exploration and terrestrial point-to-point travel. LMT is leading the charge for military HGV research. They hold contracts with the Navy, Air Force, and Army to develop HGVs and hypersonic precision fires. The priority for HGV technology accelerated significantly when Russia launched their Avangard HGV in December of 2019. Improving the technology for HGVs is a critical next-step in maintaining US hegemony, but also maintaining leadership in both terrestrial and exoatmospheric travel.
LARGE SCALE COMBAT OPERATIONS (LSCO)
The DoD transitioning to Large-Scale Combat Operations (LSCO) as the military’s strategic focus. This is a move away from an emphasis on Counter-Insurgency operations. LSCO requires effective multi-domain operations (MDO), which means effective and integrated strategies regarding land, sea, air, space, and cyberspace. To have effective MDO, the DoD is seeking systems that both expand capabilities against peer threats and increase the ability to track enemy units and communicate internally. This requires a modernizing military strategy that relies heavily on air, missile, and sensor modernization. Put simply, the DoD has decided to start preparing for peer or near-peer adversaries (China, Russia, Iran, North Korea) rather than insurgencies. For this reason, I believe that increased Chinese and Russian tensions are, unfortunate as it may be, a boon to the defense industry. This is particularly true in the missiles/fires and space industry, as peer-to-peer conflicts are won by leveraging technological advantages.
There are too many projects to cover in detail, but some important military technologies that LMT is focusing on to support LSCO include directed energy weapons (lasers) to address enemy drone technology, machine learning / artificial intelligence (most applications fall under LMT’s classified budget, but it is easy to imagine the applications of AI in a military context), and 5G to increase battlefield connectivity. These projects are all nested within the DoD’s LSCO strategy, and position LMT as the leader in emergent military tech. NOC is the other major contractor making a heavy push in the modernization direction, but winners win, and I think a better CEO, balance sheet, and larger market cap make LMT the clear winner for aiding the DoD in a transition toward LSCO.
SECTOR COMPARISON (BACKLOG)
The discussion of LSCO transitions well into the discussion of defense contractor backlogs. Massive defense contracts are not filled overnight, so examining order backlogs is a relatively reliable way to gauge the interest of the DoD in a defense contractor’s existing or emerging products. For my sector comparison, I am using the top 6 holdings of the iShares U.S. Aerospace & Defense ETF (Ticker: ITA). I hate this ETF, and ETFs like it (DFEN) because of their massively outsized exposure to aerospace, and undersized allocation to companies like LMT. LMT is only 18% smaller than Boeing (Ticker: BA) but is only 30.4% of the exposure of BA (18.46% of the fund is BA, only 5.62% of the fund is LMT). Funds of this category are just BA / RTX hacks. I suggest building your own pie on a site like M1 Finance (although they are implicated in the trade restriction BS… please be advised of that… hoping other brokerages that are above board will offer similar UIs like the pie design… just wanted to be clear there) if you are interested in the defense sector.
The top 6 holdings of ITA are:
Boeing Company (Ticker: BA, MKT CAP $110B) at 18.46%
Raytheon Technologies (Ticker: RTX, MKT CAP $101B) at 17.84%
Lockheed Martin (Ticker: LMT, MKT CAP $90B) at 5.62%
General Dynamics Corporation (Ticker: GD, MKT CAP $42B) 4.78%
Teledyne Technologies Incorporated (Ticker: TDY, MKT CAP $13B) at 4.74%
Northrop Grumman Corporation (Ticker: NOC, MKT CAP $48B) at 4.64%
As a brief aside, please look at the breakdowns of ETFs before buying them. The fact that ITA has more exposure to TDY than NOC and L3Harris is wild. Make sector ETFs balanced how you want them to be balanced and it will be more engaging, and you will likely outperform. I digress.
Backlogs for defense companies can easily be pulled from their quarterly reports. Here are the current backlogs in the same order as before, followed by a percentage of their backlog to their current market cap. All numbers are pulled from January earning reports unless otherwise noted with an * because they are still pending.
Boeing Company backlog (Commercial: $282B, Defense: $61B, Foreign Military Sales (FMS, categorized by BA as ‘Global’): 21B, Total Backlog 364B): BA’s backlog to market cap is a ratio of 3.32, which is strong, but most of that backlog comes from the commercial, not the defense side. Airlines have been getting decimated, I am personally not interested in having much of my backlog exposed to commercial pressures when trying to invest in a defense play. Without commercial exposure, their defense only backlog ratio is .748. This is extremely low. I understand that this does not do BA justice, but I am keying in on defense exposure, and I am left thoroughly unsatisfied by that ratio. Also, we have seen several canceled contracts already on the commercial side.
Raytheon Technologies backlog (Defense backlog for all 4 subdivisions: 67.3B): Raytheon only published a defense backlog in this quarter’s report. That is further evidence to me that the commercial aerospace side of the house is getting hammered. They have a relatively week backlog to market cap as well, putting them at a ratio of .664, worse off than the BA defense backlog.
Lockheed Martin backlog (Total Backlog: $147B): This backlog blows our first two defense backlogs out of the water with a current market cap to backlog ratio of 1.63.
General Dynamics Corporation backlog (Total Backlog: $89.5B, $11.6B is primarily business jets, but it is difficult to determine how much of their aerospace business is commercial): Solid 2.13 ratio, still great 1.85 if you do not consider their aerospace business. The curveball here for me is that GD published a consolidated operating profit of $4.1B including commercial aerospace, whereas LMT published a consolidated operating profit of $9.1B. This makes the LMT ratio of profit/market cap slightly in favor of LMT without accounting for the GD commercial aerospace exposure. This research surprised me; I may like GD more than I originally assumed I would. Still prefer LMT.
Teledyne Technologies Incorporated backlog (Found in the earnings transcript, $1.7B): This stock is not quite in the same league as the other major contractors. This is an odd curveball that a lot of the defense ETFs seem to have too much exposure to. They have a weak backlog, but they are a smaller growing company. I am not interested in this at all. It has a backlog ratio of .129.
Northrop Grumman Corporation backlog ($81B): Strong numbers here. I see NOC and LMT as the two front-runners in the defense sector. I like LMT more because I like their exposure to AI, 5G, and HGVs more than NOC, but I think this is a great alternative to LMT if you like the defense sector. Has a ratio of 1.69, slightly edging out LMT on this metric. LMT edges out NOC on margins by ~.9%, though, which has significant implications when considering the depth of the LMT backlog.
The winners here are LMT, GD, and NOC. BA is attractive if you think anyone will have enough money to buy new planes. BA and RTX are both getting hammered by commercial aerospace exposure right now and are much more positioned as recovery plays. That said, LMT and NOC both make money now, and will regardless of the impact of the pandemic. LMT is growing at a slightly faster rate than NOC. Both are profit machines, but I like LMT’s product portfolio and leadership a lot more.
FREE CASH FLOW
Despite the pandemic, LMT had the free cash flow to be able to pay a $2.60 per share dividend. This maintains their ~3% yearly dividend rate. They had a free cash flow of $6.4B. They spent $3.9 of that in share repurchases and dividend payouts. That leaves 40% of that cash to continue to strengthen one of the most stalwart balance sheets outside of big tech on the street. Having this free cash flow allowed them to purchase Aerojet Rocketdyne for $4.4B in December. They seem flexible and willing to expand and take advantage of their relative position during the pandemic. This is a stock that has little downside risk and significant upside potential. It is always reassuring to me to know that at the end of the day, a company is using its profit to continue to grow.
HEADWINDS
New Administration – This is more of an unknown than a headwind. The Obama Administration was not light on military spending, and the newly appointed SecDef is unlikely to shy away from modernizing the force. Military defense budgets may get lost in the political shuffle, but nothing right now suggests that defense budgets are on the chopping block.
Macroeconomic pressure – The markets are tumultuous in the wake of GME. Hedgies are shaking in their boots, and scared money weighed on markets the past week. If scared money continues to exert pressure on the broader equity markets, all boomer stocks are likely weighed down by slumping markets.
Non-meme Status – The stocks that are impervious to macroeconomic pressures in the above paragraph are the stonks that we, the people, have decided to support. From GME to IPOE, there is a slew of stonks that are watching and laughing from the green zone as the broader markets slip deeper into the red zone. Unless sentiment about LMT changes, I see no evidence that LMT will remain unaffected by a broader economic downturn (despite showing growth YoY during a pandemic).
TAILWINDS
Aerojet Rocketdyne to the Moon – Cathie Wood opened up a $39mil position in LMT a few weeks ago, and this was near the announcement of ARKX. The big ideas 2021 article focuses heavily on satellite technology, deep learning, and HGVs. I think that the AR acquisition suggests that vertical integration is a priority for LMT. They even fielded a question in their earnings call about whether they were concerned about being perceived as a monopoly. Their answer was spot on—the USFG and DoD have a vested interest in the success of defense companies. Why would they discourage a defense contractor from vertical integration to optimize margins?
International Tensions – SolarWinds has escalated US-Russia tensions. President Biden wants to look tough on China. LSCO is a DoD-wide priority.
5G.Mil – We still do not have a lot of fidelity on what this looks like, but the military would benefit in a lot of ways if we had world-wide access to the rapid transfer of encrypted data. Many units still rely on Vietnam-era technology signal technology with abysmal data rates. There are a lot of implications if the code can be cracked to win a DoD 5G contract.
TRADE IDEAS
Price Target: LMT is currently at a P/E of ~14. Verizon has roughly the same. LMT’s 5-year P/E ratio average is ~17. NOC is currently at a P/E of ~20. TSLA has a P/E Ratio of 1339 (disappointingly not 1337). P/E is a useless metric because no one seems to care about it. My point is that LMT makes a lot of money, and other companies that are valued at much higher multiples do not make any money at all. LMT’s P/E ratio is that of a boomer stock that has no growth potential. LMT’s P/E is exactly in line with the Aerospace and Defense Industry P/E ratio standard. LMT’s new CEO is pushing the industry in a new direction. I will arbitrarily choose a P/E ratio of 30, because it is half of the software industry average, and it is a nice round number. Plus, stock values are speculative and nonsense anyway.
Share price today: $321.82
Share price based on LMT average 5-year P/E: $384.08 (I see this as a short term PT, reversion to the mean)
Share price with a P/E of 30: $690.26
Buy and Hold: Simple. Doesn’t take much thought. Come back in a year or two and be happy with your tendies (and a few dividends to boot).
LEAPS Call Debit Spread (Based on last trade prices): Buy $375 C 20 JAN 23 for $26.5, Sell $450 C 20 JAN 23 for $12. Total Cost $14.5 for a spread width of $75. Max gain 517% per spread. Higher risk strategy.
LEAPS: Buy $500 C 20 JAN 23 for $7.20. Very high-risk strat. If the price target is hit within two years, these would be in the money $183 per contract for a gain of 2500%. This is the casino strat.
SOURCES
https://www.lockheedmartin.com/en-us/news/features/2020/james-taiclet-from-military-pilot-to-successful-ceo.html
https://www.warren.senate.gov/newsroom/press-releases/in-response-to-senator-warrens-questions-secretary-of-defense-nominee-general-lloyd-austin-commits-to-recusing-himself-from-raytheon-decisions-for-four-years
https://news.lockheedmartin.com/2019-08-30-Lockheed-Martins-Expertise-in-Hypersonic-Flight-Wins-New-Army-Work
https://www.lockheedmartin.com/en-us/capabilities/hypersonics.html
https://research.ark-invest.com/hubfs/1_Download_Files_ARK-Invest/White_Papers/ARK%E2%80%93Invest_BigIdeas_2021.pdf?hsCtaTracking=4e1a031b-7ed7-4fb2-929c-072267eda5fc%7Cee55057a-bc7b-441e-8b96-452ec1efe34c
https://www.deseret.com/2018/6/19/20647309/twitter-reacts-to-trump-s-call-for-a-space-force
https://comptroller.defense.gov/Portals/45/Documents/defbudget/fy2021/fy2021_Budget_Request_Overview_Book.pdf
https://www.airforcemag.com/lockheed-receives-up-to-4-9-billion-for-next-gen-opir-satellites/
https://spacenews.com/northrop-grumman-gets-2-3-billion-space-force-contract-to-develop-missile-warning-satellites/
https://www.lockheedmartin.com/en-us/capabilities/directed-energy/laser-weapon-systems.html
https://emerj.com/ai-sector-overviews/lockheed-martins-ai-applications-for-the-military/
https://www.defenseone.com/business/2020/07/new-ceo-wants-lockheed-become-5g-playe167072/
https://www.wsj.com/articles/defense-firms-expect-higher-spending-11548783988
https://www.etf.com/ITA#efficiency
https://s2.q4cdn.com/661678649/files/doc_financials/2020/q4/4Q20-Presentation.pdf
https://investors.rtx.com/static-files/dfd94ff7-4cca-4540-bc4b-4e3ba92fc646
https://investors.lockheedmartin.com/static-files/64e5aa03-9023-423a-8908-2aae8c7015ac
https://s22.q4cdn.com/891946778/files/doc_financials/2020/q4/GD_4Q20_Earnings_Highlights-Outlook-Final.pdf
https://www.fool.com/earnings/call-transcripts/2021/01/27/teledyne-technologies-inc-tdy-q4-2020-earnings-cal/
https://investor.northropgrumman.com/static-files/6e6e117f-f656-4c68-ba7f-3dc53c2dd13a

Playboy going public: Porn, Gambling, and Cannabis

NEW INFO 5 Results from share redemption are posted. Less than .2% redeemed. Very bullish as investors are showing extreme confidence in the future of PLBY.
https://finance.yahoo.com/news/playboy-mountain-crest-acquisition-corp-120000721.html
NEW INFO 4 Definitive Agreement to purchase 100% of Lovers brand stores announced 2/1.
https://www.streetinsider.com/Corporate+News/Playboy+%28MCAC%29+Confirms+Deal+to+Acquire+Lovers/17892359.html
NEW INFO 3 I bought more on the dip today. 5081 total. Price rose AH to $12.38 (2.15%)
NEW INFO 2 Here is the full webinar.
https://icrinc.zoom.us/rec/play/9GWKdmOYumjWfZuufW3QXpe_FW_g--qeNbg6PnTjTMbnNTgLmCbWjeRFpQga1iPc-elpGap8dnDv8Zww.yD7DjUwuPmapeEdP?continueMode=true&tk=lEYc4F_FkKlgsmCIs6w0gtGHT2kbgVGbUju3cIRBSjk.DQIAAAAV8NK49xZWdldRM2xNSFNQcTBmcE00UzM3bXh3AAAAAAAAAAAAAAAAAAAAAAAAAAAA&uuid=WN_GKWqbHkeSyuWetJmLFkj4g&_x_zm_rtaid=kR45-uuqRE-L65AxLjpbQw.1611967079119.2c054e3d3f8d8e63339273d9175939ed&_x_zm_rhtaid=866
NEW INFO 1 Live merger webinar with PLBY and MCAC on Friday January 29, 2021 at 12:00 NOON EST link below
https://mcacquisition.com/investor-relations/press-release-details/2021/Playboy-Enterprises-Inc.-and-Mountain-Crest-Acquisition-Corp-Participate-in-SPACInsider-ICR-Webinar-on-January-29th-at-12pm-ET/default.aspx
Playboy going public: Porn, Gambling, and Cannabis
!!!WARNING READING AHEAD!!! TL;DR at the end. It will take some time to sort through all the links and read/watch everything, but you should.
In the next couple weeks, Mountain Crest Acquisition Corp is taking Playboy public. The existing ticker MCAC will become PLBY. Special purpose acquisition companies have taken private companies public in recent months with great success. I believe this will be no exception. Notably, Playboy is profitable and has skyrocketing revenue going into a transformational growth phase.
Porn - First and foremost, let's talk about porn. I know what you guys are thinking. “Porno mags are dead. Why would I want to invest in something like that? I can get porn for free online.” Guess what? You are absolutely right. And that’s exactly why Playboy doesn’t do that anymore. That’s right, they eliminated their print division. And yet they somehow STILL make money from porn that people (see: boomers) pay for on their website through PlayboyTV, Playboy Plus, and iPlayboy. Here’s the thing: Playboy has international, multi-generational name recognition from porn. They have content available in 180 countries. It will be the only publicly traded adult entertainment (porn) company. But that is not where this company is going. It will help support them along the way. You can see every Playboy magazine through iPlayboy if you’re interested. NSFW links below:
https://www.playboy.com/
https://www.playboytv.com/
https://www.playboyplus.com/
https://www.iplayboy.com/
Gambling - Some of you might recognize the Playboy brand from gambling trips to places like Las Vegas, Atlantic City, Cancun, London or Macau. They’ve been in the gambling biz for decades through their casinos, clubs, and licensed gaming products. They see the writing on the wall. COVID is accelerating the transition to digital, application based GAMBLING. That’s right. What we are doing on Robinhood with risky options is gambling, and the only reason regulators might give a shit anymore is because we are making too much money. There may be some restrictions put in place, but gambling from your phone on your couch is not going anywhere. More and more states are allowing things like Draftkings, poker, state ‘lottery” apps, hell - even political betting. Michigan and Virginia just ok’d gambling apps. They won’t be the last. This is all from your couch and any 18 year old with a cracked iphone can access it. Wouldn’t it be cool if Playboy was going to do something like that? They’re already working on it. As per CEO Ben Kohn who we will get to later, “...the company’s casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth.” Honestly, I stopped researching Scientific Games' sports betting segment when I saw the word ‘omni-channel’. That told me all I needed to know about it’s success.
“Our SG Sports™ platform is an enhanced, omni-channel solution for online, self-service and retail fixed odds sports betting – from soccer to tennis, basketball, football, baseball, hockey, motor sports, racing and more.”
https://www.scientificgames.com/
https://www.microgaming.co.uk/
“This latter segment has become increasingly enticing for Playboy, and it said last week that it is considering new tie-ups that could include gaming operators like PointsBet and 888Holdings.”
https://calvinayre.com/2020/10/05/business/playboys-gaming-ops-could-get-a-boost-from-spac-purchase/
As per their SEC filing:
“Significant consumer engagement and spend with Playboy-branded gaming properties around the world, including with leading partners such as Microgaming, Scientific Games, and Caesar’s Entertainment, steers our investment in digital gaming, sports betting and other digital offerings to further support our commercial strategy to expand consumer spend with minimal marginal cost, and gain consumer data to inform go-to-market plans across categories.”
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tMDAA1
They are expanding into more areas of gaming/gambling, working with international players in the digital gaming/gambling arena, and a Playboy sportsbook is on the horizon.
https://www.playboy.com/read/the-pleasure-of-playing-with-yourself-mobile-gaming-in-the-covid-era
Cannabis - If you’ve ever read through a Playboy magazine, you know they’ve had a positive relationship with cannabis for many years. As of September 2020, Playboy has made a major shift into the cannabis space. Too good to be true you say? Check their website. Playboy currently sells a range of CBD products. This is a good sign. Federal hemp products, which these most likely are, can be mailed across state lines and most importantly for a company like Playboy, can operate through a traditional banking institution. CBD products are usually the first step towards the cannabis space for large companies. Playboy didn’t make these products themselves meaning they are working with a processor in the cannabis industry. Another good sign for future expansion. What else do they have for sale? Pipes, grinders, ashtrays, rolling trays, joint holders. Hmm. Ok. So it looks like they want to sell some shit. They probably don’t have an active interest in cannabis right? Think again:
https://www.forbes.com/sites/javierhasse/2020/09/24/playboy-gets-serious-about-cannabis-law-reform-advocacy-with-new-partnership-grants/?sh=62f044a65cea
“Taking yet another step into the cannabis space, Playboy will be announcing later on Thursday (September, 2020) that it is launching a cannabis law reform and advocacy campaign in partnership with National Organization for the Reform of Marijuana Laws (NORML), Last Prisoner Project, Marijuana Policy Project, the Veterans Cannabis Project, and the Eaze Momentum Program.”
“According to information procured exclusively, the three-pronged campaign will focus on calling for federal legalization. The program also includes the creation of a mentorship plan, through which the Playboy Foundation will support entrepreneurs from groups that are underrepresented in the industry.” Remember that CEO Kohn from earlier? He wrote this recently:
https://medium.com/naked-open-letters-from-playboy/congress-must-pass-the-more-act-c867c35239ae
Seems like he really wants weed to be legal? Hmm wonder why? The writing's on the wall my friends. Playboy wants into the cannabis industry, they are making steps towards this end, and we have favorable conditions for legislative progress.
Don’t think branding your own cannabis line is profitable or worthwhile? Tell me why these 41 celebrity millionaires and billionaires are dummies. I’ll wait.
https://www.celebstoner.com/news/celebstoner-news/2019/07/12/top-celebrity-cannabis-brands/
Confirmation: I hear you. “This all seems pretty speculative. It would be wildly profitable if they pull this shift off. But how do we really know?” Watch this whole video:
https://finance.yahoo.com/video/playboy-ceo-telling-story-female-154907068.html
Man - this interview just gets my juices flowing. And highlights one of my favorite reasons for this play. They have so many different business avenues from which a catalyst could appear. I think paying attention, holding shares, and options on these staggered announcements over the next year is the way I am going to go about it. "There's definitely been a shift to direct-to-consumer," he (Kohn) said. "About 50 percent of our revenue today is direct-to-consumer, and that will continue to grow going forward.” “Kohn touted Playboy's portfolio of both digital and consumer products, with casino-style gaming, in particular, serving a crucial role under the company's new business model. Playboy also has its sights on the emerging cannabis market, from CBD products to marijuana products geared toward sexual health and pleasure.” "If THC does become legal in the United States, we have developed certain strains to enhance your sex life that we will launch," Kohn said. https://cheddar.com/media/playboy-goes-public-health-gaming-lifestyle-focus Oh? The CEO actually said it? Ok then. “We have developed certain strains…” They’re already working with growers on strains and genetics? Ok. There are several legal cannabis markets for those products right now, international and stateside. I expect Playboy licensed hemp and THC pre-rolls by EOY. Something like this: https://www.etsy.com/listing/842996758/10-playboy-pre-roll-tubes-limited?ga_order=most_relevant&ga_search_type=all&ga_view_type=gallery&ga_search_query=pre+roll+playboy&ref=sr_gallery-1-2&organic_search_click=1 Maintaining cannabis operations can be costly and a regulatory headache. Playboy’s licensing strategy allows them to pick successful, established partners and sidestep traditional barriers to entry. You know what I like about these new markets? They’re expanding. Worldwide. And they are going to be a bigger deal than they already are with or without Playboy. Who thinks weed and gambling are going away? Too many people like that stuff. These are easy markets. And Playboy is early enough to carve out their spot in each. Fuck it, read this too: https://www.forbes.com/sites/jimosman/2020/10/20/playboy-could-be-the-king-of-spacs-here-are-three-picks/?sh=2e13dcaa3e05
Numbers: You want numbers? I got numbers. As per the company’s most recent SEC filing:
“For the year ended December 31, 2019, and the nine months ended September 30, 2020, Playboy’s historical consolidated revenue was $78.1 million and $101.3 million, respectively, historical consolidated net income (loss) was $(23.6) million and $(4.8) million, respectively, and Adjusted EBITDA was $13.1 million and $21.8 million, respectively.”
“In the nine months ended September 30, 2020, Playboy’s Licensing segment contributed $44.2 million in revenue and $31.1 million in net income.”
“In the ninth months ended September 30, 2020, Playboy’s Direct-to-Consumer segment contributed $40.2 million in revenue and net income of $0.1 million.”
“In the nine months ended September 30, 2020, Playboy’s Digital Subscriptions and Content segment contributed $15.4 million in revenue and net income of $7.4 million.”
They are profitable across all three of their current business segments.
“Playboy’s return to the public markets presents a transformed, streamlined and high-growth business. The Company has over $400 million in cash flows contracted through 2029, sexual wellness products available for sale online and in over 10,000 major retail stores in the US, and a growing variety of clothing and branded lifestyle and digital gaming products.”
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF
Growth: Playboy has massive growth in China and massive growth potential in India. “In China, where Playboy has spent more than 25 years building its business, our licensees have an enormous footprint of nearly 2,500 brick and mortar stores and 1,000 ecommerce stores selling high quality, Playboy-branded men’s casual wear, shoes/footwear, sleepwear, swimwear, formal suits, leather & non-leather goods, sweaters, active wear, and accessories. We have achieved significant growth in China licensing revenues over the past several years in partnership with strong licensees and high-quality manufacturers, and we are planning for increased growth through updates to our men’s fashion lines and expansion into adjacent categories in men’s skincare and grooming, sexual wellness, and women’s fashion, a category where recent launches have been well received.” The men’s market in China is about the same size as the entire population of the United States and European Union combined. Playboy is a leading brand in this market. They are expanding into the women’s market too. Did you know CBD toothpaste is huge in China? China loves CBD products and has hemp fields that dwarf those in the US. If Playboy expands their CBD line China it will be huge. Did you know the gambling money in Macau absolutely puts Las Vegas to shame? Technically, it's illegal on the mainland, but in reality, there is a lot of gambling going on in China. https://www.forbes.com/sites/javierhasse/2020/10/19/magic-johnson-and-uncle-buds-cbd-brand-enter-china-via-tmall-partnership/?sh=271776ca411e “In India, Playboy today has a presence through select apparel licensees and hospitality establishments. Consumer research suggests significant growth opportunities in the territory with Playboy’s brand and categories of focus.” “Playboy Enterprises has announced the expansion of its global consumer products business into India as part of a partnership with Jay Jay Iconic Brands, a leading fashion and lifestyle Company in India.” “The Indian market today is dominated by consumers under the age of 35, who represent more than 65 percent of the country’s total population and are driving India’s significant online shopping growth. The Playboy brand’s core values of playfulness and exploration resonate strongly with the expressed desires of today’s younger millennial consumers. For us, Playboy was the perfect fit.” “The Playboy international portfolio has been flourishing for more than 25 years in several South Asian markets such as China and Japan. In particular, it has strategically targeted the millennial and gen-Z audiences across categories such as apparel, footwear, home textiles, eyewear and watches.” https://www.licenseglobal.com/industry-news/playboy-expands-global-footprint-india It looks like they gave COVID the heisman in terms of net damage sustained: “Although Playboy has not suffered any material adverse consequences to date from the COVID-19 pandemic, the business has been impacted both negatively and positively. The remote working and stay-at-home orders resulted in the closure of the London Playboy Club and retail stores of Playboy’s licensees, decreasing licensing revenues in the second quarter, as well as causing supply chain disruption and less efficient product development thereby slowing the launch of new products. However, these negative impacts were offset by an increase in Yandy’s direct-to-consumer sales, which have benefited in part from overall increases in online retail sales so far during the pandemic.” Looks like the positives are long term (Yandy acquisition) and the negatives are temporary (stay-at-home orders).
https://www.sec.gov/Archives/edgadata/1803914/000110465921006093/tm213766-1_defa14a.htm
This speaks to their ability to maintain a financially solvent company throughout the transition phase to the aforementioned areas. They’d say some fancy shit like “expanded business model to encompass four key revenue streams: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming.” I hear “we’re just biding our time with these trinkets until those dollar dollar bill y’all markets are fully up and running.” But the truth is these existing revenue streams are profitable, scalable, and rapidly expanding Playboy’s e-commerce segment around the world.
"Even in the face of COVID this year, we've been able to grow EBITDA over 100 percent and revenue over 68 percent, and I expect that to accelerate going into 2021," he said. “Playboy is accelerating its growth in company-owned and branded consumer products in attractive and expanding markets in which it has a proven history of brand affinity and consumer spend.”
Also in the SEC filing, the Time Frame:
“As we detailed in the definitive proxy statement, the SPAC stockholder meeting to vote on the transaction has been set for February 9th, and, subject to stockholder approval and satisfaction of the other closing conditions, we expect to complete the merger and begin trading on NASDAQ under ticker PLBY shortly thereafter,” concluded Kohn.
The Players: Suhail “The Whale” Rizvi (HMFIC), Ben “The Bridge” Kohn (CEO), “lil” Suying Liu & “Big” Dong Liu (Young-gun China gang). I encourage you to look these folks up. The real OG here is Suhail Rizvi. He’s from India originally and Chairman of the Board for the new PLBY company. He was an early investor in Twitter, Square, Facebook and others. His firm, Rizvi Traverse, currently invests in Instacart, Pinterest, Snapchat, Playboy, and SpaceX. Maybe you’ve heard of them. “Rizvi, who owns a sprawling three-home compound in Greenwich, Connecticut, and a 1.65-acre estate in Palm Beach, Florida, near Bill Gates and Michael Bloomberg, moved to Iowa Falls when he was five. His father was a professor of psychology at Iowa. Along with his older brother Ashraf, a hedge fund manager, Rizvi graduated from Wharton business school.” “Suhail Rizvi: the 47-year-old 'unsocial' social media baron: When Twitter goes public in the coming weeks (2013), one of the biggest winners will be a 47-year-old financier who guards his secrecy so zealously that he employs a person to take down his Wikipedia entry and scrub his photos from the internet. In IPO, Twitter seeks to be 'anti-FB'” “Prince Alwaleed bin Talal of Saudi Arabia looks like a big Twitter winner. So do the moneyed clients of Jamie Dimon. But as you’ve-got-to-be-joking wealth washed over Twitter on Thursday — a company that didn’t exist eight years ago was worth $31.7 billion after its first day on the stock market — the non-boldface name of the moment is Suhail R. Rizvi. Mr. Rizvi, 47, runs a private investment company that is the largest outside investor in Twitter with a 15.6 percent stake worth $3.8 billion at the end of trading on Thursday (November, 2013). Using a web of connections in the tech industry and in finance, as well as a hearty dose of good timing, he brought many prominent names in at the ground floor, including the Saudi prince and some of JPMorgan’s wealthiest clients.” https://www.nytimes.com/2013/11/08/technology/at-twitter-working-behind-the-scenes-toward-a-billion-dollar-payday.html Y’all like that Arab money? How about a dude that can call up Saudi Princes and convince them to spend? Funniest shit about I read about him: “Rizvi was able to buy only $100 million in Facebook shortly before its IPO, thus limiting his returns, according to people with knowledge of the matter.” Poor guy :(
He should be fine with the 16 million PLBY shares he's going to have though :)
Shuhail also has experience in the entertainment industry. He’s invested in companies like SESAC, ICM, and Summit Entertainment. He’s got Hollywood connections to blast this stuff post-merger. And he’s at least partially responsible for that whole Twilight thing. I’m team Edward btw.
I really like what Suhail has done so far. He’s lurked in the shadows while Kohn is consolidating the company, trimming the fat, making Playboy profitable, and aiming the ship at modern growing markets.
https://www.reuters.com/article/us-twitter-ipo-rizvi-insight/insight-little-known-hollywood-investor-poised-to-score-with-twitter-ipo-idUSBRE9920VW20131003
Ben “The Bridge” Kohn is an interesting guy. He’s the connection between Rizvi Traverse and Playboy. He’s both CEO of Playboy and was previously Managing Partner at Rizvi Traverse. Ben seems to be the voice of the Playboy-Rizvi partnership, which makes sense with Suhail’s privacy concerns. Kohn said this:
“Today is a very big day for all of us at Playboy and for all our partners globally. I stepped into the CEO role at Playboy in 2017 because I saw the biggest opportunity of my career. Playboy is a brand and platform that could not be replicated today. It has massive global reach, with more than $3B of global consumer spend and products sold in over 180 countries. Our mission – to create a culture where all people can pursue pleasure – is rooted in our 67-year history and creates a clear focus for our business and role we play in people’s lives, providing them with the products, services and experiences that create a lifestyle of pleasure. We are taking this step into the public markets because the committed capital will enable us to accelerate our product development and go-to-market strategies and to more rapidly build our direct to consumer capabilities,” said Ben Kohn, CEO of Playboy.
“Playboy today is a highly profitable commerce business with a total addressable market projected in the trillions of dollars,” Mr. Kohn continued, “We are actively selling into the Sexual Wellness consumer category, projected to be approximately $400 billion in size by 2024, where our recently launched intimacy products have rolled out to more than 10,000 stores at major US retailers in the United States. Combined with our owned & operated ecommerce Sexual Wellness initiatives, the category will contribute more than 40% of our revenue this year. In our Apparel and Beauty categories, our collaborations with high-end fashion brands including Missguided and PacSun are projected to achieve over $50M in retail sales across the US and UK this year, our leading men’s apparel lines in China expanded to nearly 2500 brick and mortar stores and almost 1000 digital stores, and our new men’s and women’s fragrance line recently launched in Europe. In Gaming, our casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth. Our product strategy is informed by years of consumer data as we actively expand from a purely licensing model into owning and operating key high-growth product lines focused on driving profitability and consumer lifetime value. We are thrilled about the future of Playboy. Our foundation has been set to drive further growth and margin, and with the committed capital from this transaction and our more than $180M in NOLs, we will take advantage of the opportunity in front of us, building to our goal of $100M of adjusted EBITDA in 2025.”
https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company
Also, according to their Form 4s, “Big” Dong Liu and “lil” Suying Liu just loaded up with shares last week. These guys are brothers and seem like the Chinese market connection. They are only 32 & 35 years old. I don’t even know what that means, but it's provocative.
https://www.secform4.com/insider-trading/1832415.htm
https://finance.yahoo.com/news/mountain-crest-acquisition-corp-ii-002600994.html
Y’all like that China money?
“Mr. Liu has been the Chief Financial Officer of Dongguan Zhishang Photoelectric Technology Co., Ltd., a regional designer, manufacturer and distributor of LED lights serving commercial customers throughout Southern China since November 2016, at which time he led a syndicate of investments into the firm. Mr. Liu has since overseen the financials of Dongguan Zhishang as well as provided strategic guidance to its board of directors, advising on operational efficiency and cash flow performance. From March 2010 to October 2016, Mr. Liu was the Head of Finance at Feidiao Electrical Group Co., Ltd., a leading Chinese manufacturer of electrical outlets headquartered in Shanghai and with businesses in the greater China region as well as Europe.”
Dr. Suying Liu, Chairman and Chief Executive Officer of Mountain Crest Acquisition Corp., commented, “Playboy is a unique and compelling investment opportunity, with one of the world’s largest and most recognized brands, its proven consumer affinity and spend, and its enormous future growth potential in its four product segments and new and existing geographic regions. I am thrilled to be partnering with Ben and his exceptional team to bring his vision to fruition.”
https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company
These guys are good. They have a proven track record of success across multiple industries. Connections and money run deep with all of these guys. I don’t think they’re in the game to lose.
I was going to write a couple more paragraphs about why you should have a look at this but really the best thing you can do is read this SEC filing from a couple days ago. It explains the situation in far better detail. Specifically, look to page 137 and read through their strategy. Also, look at their ownership percentages and compensation plans including the stock options and their prices. The financials look great, revenue is up 90% Q3, and it looks like a bright future.
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF
I’m hesitant to attach this because his position seems short term, but I’m going to with a warning because he does hit on some good points (two are below his link) and he’s got a sizable position in this thing (500k+ on margin, I think). I don’t know this guy but he did look at the same publicly available info and make roughly the same prediction, albeit without the in depth gambling or cannabis mention. You can also search reddit for ‘MCAC’ and very few relevant results come up and none of them even come close to really looking at this thing.
https://docs.google.com/document/d/1gOvAd6lebs452hFlWWbxVjQ3VMsjGBkbJeXRwDwIJfM/edit?usp=sharing
“Also, before you people start making claims that Playboy is a “boomer” company, STOP RIGHT THERE. This is not a good argument. Simply put. The only thing that matters is Playboy’s name recognition, not their archaic business model which doesn’t even exist anymore as they have completely repurposed their business.”
“Imagine not buying $MCAC at a 400M valuation lol. Streetwear department is worth 1B alone imo.”
Considering the ridiculous Chinese growth as a lifestyle brand, he’s not wrong.
Current Cultural Significance and Meme Value: A year ago I wouldn’t have included this section but the events from the last several weeks (even going back to tsla) have proven that a company’s ability to meme and/or gain social network popularity can have an effect. Tik-tok, Snapchat, Twitch, Reddit, Youtube, Facebook, Twitter. They all have Playboy stuff on them. Kids in middle and highschool know what Playboy is but will likely never see or touch one of the magazines in person. They’ll have a Playboy hoodie though. Crazy huh? A lot like GME, PLBY would hugely benefit from meme-value stock interest to drive engagement towards their new business model while also building strategic coffers. This interest may not directly and/or significantly move the stock price but can generate significant interest from larger players who will.
Bull Case: The year is 2025. Playboy is now the world leader pleasure brand. They began by offering Playboy licensed gaming products, including gambling products, direct to consumers through existing names. By 2022, demand has skyrocketed and Playboy has designed and released their own gambling platforms. In 2025, they are also a leading cannabis brand in the United States and Canada with proprietary strains and products geared towards sexual wellness. Cannabis was legalized in the US in 2023 when President Biden got glaucoma but had success with cannabis treatment. He personally pushes for cannabis legalization as he steps out of office after his first term. Playboy has also grown their brand in China and India to multi-billion per year markets. The stock goes up from 11ish to 100ish and everyone makes big gains buying somewhere along the way.
Bear Case: The United States does a complete 180 on marijuana and gambling. President Biden overdoses on marijuana in the Lincoln bedroom when his FDs go tits up and he loses a ton of money in his sports book app after the Fighting Blue Hens narrowly lose the National Championship to Bama. Playboy is unable to expand their cannabis and gambling brands but still does well with their worldwide lifestyle brand. They gain and lose some interest in China and India but the markets are too large to ignore them completely. The stock goes up from 11ish to 13ish and everyone makes 15-20% gains.
TL;DR: Successful technology/e-commerce investment firm took over Playboy to turn it into a porn, online gambling/gaming, sports book, cannabis company, worldwide lifestyle brand that promotes sexual wellness, vetern access, women-ownership, minority-ownership, and “pleasure for all”. Does a successful online team reinventing an antiquated physical copy giant sound familiar? No options yet, shares only for now. $11.38 per share at time of writing. My guess? $20 by the end of February. $50 by EOY. This is not financial advice. I am not qualified to give financial advice. I’m just sayin’ I would personally use a Playboy sports book app while smoking a Playboy strain specific joint and it would be cool if they did that. Do your own research. You’d probably want to start here:
WARNING - POTENTIALLY NSFW - SEXY MODELS AHEAD - no actual nudity though
https://s26.q4cdn.com/895475556/files/doc_presentations/Playboy-Craig-Hallum-Conference-Investor-Presentation-11_17_20-compressed.pdf
Or here:
https://www.mcacquisition.com/investor-relations/default.aspx
Jimmy Chill: “Get into any SPAC at $10 or $11 and you are going to make money.”
STL;DR: Buy MCAC. MCAC > PLBY couple weeks. Rocketship. Moon.
Position: 5000 shares. I will buy short, medium, and long-dated calls once available.

Matched Betting Extra Place Horse Racing - January 21 Profits - £4,707 on top of Full Time Job

Hi all,
I thought I would share my profits for Matched Betting Extra Place Horse Racing for Jan 21. January 2021 has turned into my best month of Matched Betting since I started way back in Summer 2018. This months profits are roughly £4,707. A life changing figure for many and a great figure seeing this is achievable on top of a full time job. Matched Betting is the only decent side hustle I have actually found, compared to doing hundreds of boring online surveys...yuck! (Unless you are a good business person / have 5 lodgers / lots of family money etc.) To see some of my other Matched Betting profits you visit my site: https://cashontheside.co.uk/
I will be investing some of my profits this month in ETF/Shares and putting into house improvements like a new drive way. In addition with Cheltenham horse festival coming up in March, I will be increasing my bank to cover liabilities.
The bulk of my profits came from Extra Place racing, large underlayed winners and BOG (best offer garuntee). Variance was certainly on my side this month and I must have had at least 10 large winners which won upwards of £1600 pounds per bet. As I underlay my bets I made more profit than If I had fully layed of the bets. About 5% of these profits came from low risk casino. After you have completed all welcome offers...in Matched Betting. Ep's become a gold mine...and I truly recommend them to anyone.
Some more of my bets this month illustrating underlayed bets and ep:
https://cashonthesidecouk.files.wordpress.com/2021/02/winnings4.jpg
https://cashonthesidecouk.files.wordpress.com/2021/02/winnings.jpg
https://cashonthesidecouk.files.wordpress.com/2021/02/another-winner.jpg

Images of one of my bets illustrative of Best offer guarantee: https://cashonthesidecouk.files.wordpress.com/2021/01/136707133_10159536662702922_8507610622687908137_o-1.jpg?w=544
For those who are starting out on their Match Betting journey in 2021 these sort of figures are achievable to you once you have experience….unfortunately this will not come overnight! I do put a lot of time into it..between 2-5 hours a day, 7 days a week sometimes. For the average person you could earn at least £500 a month.
To learn more about Match Betting please visit my article Boost Your Income with Matched Betting. Alternatively you can start an Odds Monkey free trial where they will teach you step by step and give you the calculators you need: odds monkey trial https://www.oddsmonkey.com/affiliates/affiliate.php?id=64754(affiliate) or www.oddsmonkey.com. (non affiliate)
To those with a little more experience who want to learn about Matched Betting Extra Places you can visit my guide here Extra Place Match Betting tips here or I have copied and pasted it all below.
For those with Matched Betting Experience - my guide and tips to Extra Places:
What is Extra Place Matched Betting?
Extra Places can be a very lucrative technique to learn. Extra Places are available for us to do pretty much every day, increasing the appeal. Extra Place Offers are available to all customers. This means that even if you get gubbed with a bookmaker, in most cases, you can still make money with them by Matched Betting on their Extra Place Offers.
Extra Places are considered an advanced reload offer, as they not risk-free. However once you have gained some experience on more basic horse racing offers, you can start to take advantage of the lucrative profits available. It may sound complicated but as soon as it ‘clicks’, it becomes simple. Essentially we are taking advantage of the bookies and exchanges paying out if the horse you have backed comes a certain ‘place’ in a race e.g. 4th.
Extra Places combined with additional offers such as BOG (Best Offer Guarantee) can mean additional profits. For example, you back a horse at odds of 15 and then the starting odds move up to 23. If that horse wins you win an extra x8 on your bet. You can see some real life scenarios I found of Extra Place combined with BOG below. Depending on the size of the underlay, profits below would range up to £3,000+

What is a ‘place’ in horse racing?

Quite simply a ‘place’ is the position the horse finishes a race in. For example if a horse wins a race it comes 1st, if a horse comes 2nd its 2nd. In some races with a large number of horses some bookies will pay out if a horse finishes the race in 1st, 2nd, 3rd, 4th, 5th and 6th position. Horse Racing festivals such as Cheltenham or Ascot are particularly well known for this.

What is an ‘Extra Place’ in horse racing?

Now we’ve understood what a place is in horse racing you may have probably already guessed what an ‘extra place’ is going to be! An ‘extra place’ is where the bookies add one (or more) additional places to their standard place classification on a particular race. For example they may offer to ‘pay 7 places on a race’ instead of the standard 3 places. The ‘extra place’ in this instance cover 4th, 5th, 6th and 7th.
What are my Extra Place top tips?

Some of my biggest profits have come from big underlayed winners and BOG. I typically underlay most of my bets by about 20% sometimes more. If you are starting out I would underlay on the place only by about 10% to play it safe until you learn more.
Don’t bet on more places than a bookmaker is offering. E.g. If the bookmaker is offering 4 places don’t bet on more than that.
Whilst your learning, take horses on implied odds of at least 12 or more on a match of 80%+.
Look to keep qualifying losses down. E.g. for £100 profit, £5 ql.
Please note, the best odds are typically found between 10 minutes up and to race time. You have to be quick on your ‘toes’…learn to walk before you run etc. Start out on easy horse racing officers before doing extra places.
You will need a bank of at least £1000+ for your exchanges, ideally more. The more you have the more of the field you can cover. You can do EP with several hundred in your exchange but you won’t be able to make bigger profits.
Be consistent, don’t take risks, don’t chase your losses and learn from matched betting extra place forums.
Keep the Odds Monkey up throughout the day...and check for good matches.
Use Bookies Boosts to increase your odds and matches.
Do not give in to your fear of missing out on offers…Tomorrow is another day.
Have at least a dual monitoscreen setup. It is important to be able to see exchange, books and calcs.

How do I find Extra Places offers?
I use the the Odds Monkey Extra Place Matcher to find the best opportunities for profit. The Matcher is explained in the below video.
https://youtu.be/oOKAdiSJidg
I am also a regular visitor of the active Odds Monkey community forums. You can sign up for an Odds Monkey free trial today here today https://www.oddsmonkey.com/affiliates/affiliate.php?id=64754 www.oddsmonkey.com (non affiliate). Odds Monkey provide you with the all guides, calculators etc. I have been a member for over 2.4 years now.
Feel free to get in touch or ask below if any questions.

Race Thread: NXS Desert Diamond Casino West Valley 200 at Phoenix Raceway, starting at 5:15pm EST on NBCSN (NXS33)

Race Thread: NCS Hollywood Casino 400 at Kansas Speedway, starting at 2:46pm EDT on NBC (NCS33)

[OC] The Best MLS Player from Each Country That's Fielded One: Part 1 (UEFA)

Row: 1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19
(P) 7	22	20	10	18	39	51	21	44	13	36	08	15	78	07	47	74	93	66
98	11	9	19	1	02	68	92	8	4	0	26	90	6	52	5	61	99

Row: 1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20
(P) 9	1	19	11	12	20	41	8	3	37	17	47	13	96	32	00	53	15	66	7
22	4	88	2	24	14	48	10	21	18	95	43	34	6	42	38	27	77	51	49

Throughout its first 25 years, Major League Soccer has seen players from all different corners of the globe, each with their own career story. Whether it be a guy like Tim Melia or Chris Wondolowski who were scrappy guys that came out of nowhere to be stars in this league, or world famous names such as Zlatan, Beckham, and Henry, the league's history of big names is as diverse as they come.
Let's take a look at the best player from each country around the globe. This will be based on national team allegiance. Today, we'll be leading with Europe!
Please note that this is my opinion, and in some cases the decisions were tough; I'll be sure to add in honorable mentions where I can, or add notes.
Albania: Shkëlzen Gashi ( COL 2016-18)
Short list to pick from here, as Gashi's only competition is Jahmir Hyka and Hamdi Salihi. Gashi gets the nod, if nothing else, for his huge 2016 season, where he scored 10 regular season goals (one of which was that year's Goal of the Year) as the Rapids damn near won the Shield. The madlad then went and one-upped that with his absurd equalizer in the playoffs against the Galaxy.
His last two years weren't as fruitful, but man, when he was on he could pull something out of nowhere.
Armenia: Yura Movsisyan ( KC 2006-07, RSL 2007-09 & 2016-18, CHI 2018)
Four choices here, although in the end it's Movsisyan winning out over Harut Karapetyan, who played a couple seasons in the 90s for the Galaxy, San Jose, and Tampa Bay. The fourth pick in a strong 2006 MLS SuperDraft out of Pasadena City College, Movsisyan is mostly associated with RSL, who acquired him in a 2007 trade. With the Claret and Cobalt, he would tally 15 goals in 53 regular season appearances, and in 2009 he'd hoist the club's first MLS Cup. That'd be his last game with RSL until 2016 after some time in Europe with Randers, Krasnodar, and Spartak Moscow (even sharing the Russian PL Golden Boot in 2012/13 with Wanderson). He'd put up a similar clip of 16 in 57 before being waived and finishing his MLS career with four scoreless games with Chicago.
Austria: Daniel Royer ( NYRB 2016-pres.)
The choice here was largely Royer vs. Andreas Ivanschitz, who was a regular starter for Seattle's first MLS Cup, but I can't say no to a man with over 100 MLS matches played and three straight 10-goal seasons. In all comps, the former Austria Vienna man is just two goals behind Thierry Henry for third on the Red Bulls' all time goal scoring list.
Belarus: Sasha Gotsmanov ( COL 2005)
Gotsmanov qualifies by default as the only Belarusian player in MLS history. The Minsk native (and son of former Soviet and Belarusian international Sergei Gotsmanov) played one (1) single game for Colorado in October 2005, against RSL.
Belgium: Laurent Ciman ( MTL 2015-17, LAFC 2018, TFC 2019-pres.)
Shouts to Roland Lamah, who had his moments in Dallas, and Jelle van Damme, who played a season and a half for the Galaxy, but Ciman is the obvious choice. While he's fallen off a cliff as he's gotten older, he's a three-time All-Star and won Defender of the Year in his first MLS season; in his second, he played for Belgium at Euro 2016. At 35, he's lost a step and probably should only be used in emergencies, but at his best he was an elite MLS center back that could also be deployed at right back.
Bosnia & Herzegovina: Haris Medunjanin ( PHI 2017-19, CIN 2020-pres.)
The first one where I'm not totally confident in my pick, as Baggio Hušidić made this tricky (and as a Union fan I'm afraid of bias). But at his best, Haris is an assist machine (30 in four MLS seasons so far), and a threat on set pieces; the madlad even scored an Olimpico this year. His left foot is probably the best the Union have ever had. While his commitment to defense was nonexistent, give him the ball and he could spray a pass anywhere.
Bulgaria: Hristo Stoichkov ( CHI 2000-02, DC 2003)
One of three former Ballon d'Or winners to play in MLS (the others being Lothar Matthaus and Kaka, although "playing" is generous for the former), Stoichkov spent the last four seasons of his career in MLS, scoring 22 goals in 72 regular season matches for Chicago and DC. In his first season, a 9 goal in 18 match outing for the Fire, he also won the US Open Cup, scoring the opening goal of the final, a 2-1 win over Miami. (The winning goal, by the way, was scored by our old friend Owen Goal.)
Croatia: Damir Kreilach ( RSL 2018-pres.)
Mr. Miyagi's favorite MLS player for his crane kick equalizer in the playoffs, the former Rijeka and Union Berlin man has proven to be an excellent utility piece and core part of RSL throughout his time there, scoring 26 goals and chipping in 14 assists in 86 regular season matches and playing all over the damn place (naturally a central midfielder, he's probably still RSL's best forward). At 31, he still has a lot to give.
MLS has seen a huge influx of Croats lately, though; before Kreilach's 2018 signing there had only been four Croatian players in MLS history, two of whom barely played. Currently, there are five on active rosters.
Czechia: Luboš Kubík ( CHI 1998-2001, DAL 2001)
Czech players have had a good hit rate in MLS. In his lone MLS season, Bořek Dočkal led the league in assists, and Zdeněk Ondrášek was a very solid piece for Dallas, albeit one whose MLS time was brief.
But no. We have to go with Kubik. The sweeper was Best XI twice, in 1998 and 1999, and won Defender of the Year in 1998 helping Chicago to a MLS Cup-Open Cup double. He'd win another Open Cup two years later, before being traded to Dallas in 2001 and retiring due to injury.
So many lethal counterattacks started on the foot of this man, and he is rightfully seen as one of the greatest defenders the league has ever seen.
Denmark: Jimmy Nielsen ( KC 2010-13)
I debated going WAYYYYYYY off the board here and throwing out Miklos Molnar. His time in MLS was brief, just the 2000 season before he retired, but the man was the best attacking piece on a Cup winner. He could have balled out if he didn't retire early.
But nah. We're going with Casino Jimmy, one of the keys towards Kansas City's early 2010s turnaround. A two time All-Star, Nielsen was Goalkeeper of the Year in 2012, a year that also saw him win the Open Cup with the Wiz (on penalties, because KC and penalties, name a more iconic duo at this point). In 2013, he capped off his career by winning MLS Cup, again on penalties, while playing with broken ribs.
England: Bradley Wright-Phillips ( 2013-2019, LAFC 2020)
This league, man.
The list of English players to have represented in MLS is a long one, full of iconic names. Ashley Cole. David Beckham. Frank Lampard. Steven Gerrard. Jermain Defoe. Wayne Rooney. Hell, even Bradley's brother Shaun.
But nope. Many of those guys are the butt of many MLS jokes. BWP, on the other hand, is one of the greatest goal scorers the league has ever seen, with two Golden Boots to his name and well over a century of league goals. He was a part of 3 Shield winning teams, and made CONCACAF's Best XI in 2018.
And it all started with a quiet trial in 2013 after Charlton dumped him. This. League.
And This. Man. Even as a fan of Philly who doesn't care much for the Red Bulls, I respect this dude and everything he's done. I hope he gets another year after winning Comeback Player of the Year this year.
Estonia: Joel Lindpere ( NYRB 2010-12, CHI 2013)
The only other option here was Erik Sorga, who could dethrone Lindpere as he came to MLS at a very young age. But it's unlikely, as Lindpere was quietly very solid for the Red Bulls during his time. The Tallinn native was a two-time All-Star, and in 2010 he was named the Red Bulls' team MVP.
Finland: Alex Ring ( NYC 2017-2020, AUS pres.)
T O P I C A L
There's a few fairly talented Finns in MLS right now that could make this interesting (I really like Robin Lod's game, and Lassi Lappelainen would be excellent for Montreal if he'd stop getting hurt). Ring however has proven his worth across 4 seasons, including time as NYC's captain. Over 10,000 MLS minutes, mostly for good teams, as a defensive anchor, he will be a fantastic tone-setter for the new Austin team.
France: Thierry Henry ( NYRB 2010-14)
Oh man, as an Ireland fan I wanted to give this to literally anyone else. I am still bitter, dammit.
His best competition is probably Aurelien Collin, who has a closetful of trophies (including a Best XI and MLS Cup MVP). But no...it's Henry.
When a big name comes to MLS, what people want to see is someone who treats the league with respect. Henry did that. Not only was he dominant on the pitch, a three-time Best XI nomination, he also respected the history of the club he played for and gave 100%, even though he was getting up there in the years. He's a Red Bulls and MLS legend...as much as I curse that godforsaken hand
Georgia: Valeri "Vako" Qazaishvili ( SJ 2017-20)
It looks like the San Jose chapter of Vako's career is done and dusted. While the former Vitesse man struggled for consistency, he did put up 26 goals and 13 assists across four MLS seasons for the Quakes, including 10 while being coached by Mikael Stahre, which should probably get him and Wondo some sort of award.
We'll see what's next for him, if he leaves MLS or goes back to Europe. His only competition was Quakes teammate Guram Kashia.
Germany: Bastian Schweinsteiger ( CHI 2017-19)
I'm...actually not sure about this one. I actually changed this while writing, as I very nearly chose Julian Gressel; the former Rookie of the Year has two 10-assist seasons under his belt, and Kai Wagner has also been one of the league's better fullbacks for Philadelphia; Schweinsteiger was solid enough for Chicago in his advanced age for some very frustrating teams (and even moved positions to center back!)...but man, I don't know.
Germany is weird. For a country with such a great footballing tradition, the pickings are fairly slim. Arne Friedrich had one good year for Chicago before injuries claimed his career. Lottar Matthaus was as committed to this league as Schalke are to winning football matches. Stefan Aigner was stifled by Anthony Hudson going galaxy brain. Torsten Frings...existed.
I dunno.
Greece: Alexandros Tabakis ( ATL 2017)
The only Greek in MLS history...and our second one game wonder. Atlanta's FOURTH string keeper in 2017, he managed to sneak into a game against Minnesota with Brad Guzan on international duty, Alec Kann injured, and Kyle Reynish sent off during the match.
Atlanta lost 3-2. He's now in USL.
Hungary: Nemanja Nikolić ( CHI 2017-19)
Dániel Sallói and Krisztián Németh had their moments, but the winner is Nikolić, who came to MLS from the Ekstraklasa and immediately won the Golden Boot. His totals diminished in the three seasons he spent with Chicago, but 51 goals in 96 appearances isn't too shabby at all - it's second in Fire history behind Ante Razov.
Iceland - Guðmundur Þórarinsson ( NYC 2020-pres.)
Not much choice, 3 guys, all of whom were mostly bench guys. I almost went with Kristinn Steindorsson here on the merits of "he didn't have a penalty saved by Rodrigo Schlegel."
Israel: Gadi Kinda ( SKC 2020-pres.)
It was either him or Dedi Ben Dayan, really. And I nearly went with the former Colorado left back, but nah, Kinda is very much the superior player. The midfielder born in Ethiopia, Kinda shone brightly in his first season in KC, with 6 goals and 4 assists in his debut season. He'll be a DP next season.
Italy: Sebastian Giovinco ( TOR 2015-18)
A signing that changed an entire club.
Before Giovinco, the Reds were a laughingstock. He came in, won a Golden Boot and MVP right away, led the league in assists, made Best XI three years in a row, led them to their first playoff game, their first MLS Cup final, their first MLS Cup win, and a historic treble. And they damn near won CCL too.
The Atomic Ant was must-see from Day 1. It's not just because of him that Toronto is now one of MLS's elite...but he was a huge part of changing that culture. 83 goals in 142 games in all comps. And he dished out his fair share of assists too, with a telepathic partnership with Jozy.
Latvia: Raivis Hščanovičs ( TOR 2010)
Not much to write about here. 14 games for a bad Reds team. Gets in by default with no other Latvian MLS players.
Liechtenstein: Nicholas Hasler ( TOR 2017-18, CHI 2018-19, SKC 2019)
Another one by default. 66 games as a utilityman. Won MLS Cup and the Shield, though.
Lithuania: Vytautas Andriuškevičius ( POR 2016-18, DC 2018)
Only other choice was Edgaras Jankauskas, a forward who played 14 games for the Revs. Vytas played 37 for Portland and zero for DC.
Luxembourg: Maxime Chanot ( NYC 2016-pres.)
Another one by default but this one's an actually really solid player that finished fourth in Defender of the Year voting in 2019. We take those.
Malta: Etienne Barbera ( VAN 2012)
2 games in 2012. Only Maltese player in MLS.
Montenegro: Branko Bošković ( DC 2010-12)
Pretty much every other Montenegrin player played less than 20 games in MLS. Bošković played 43 before returning to Europe for family reasons. 7 assists in his final season though, which is technically something.
Netherlands: Johan Kappelhof ( CHI 2016-pres.)
Much like Germany, bright footballing tradition, very shaky MLS history. Which is weird because the Eredivisie exports a lot of guys to MLS.
Also, I'm excluding Kelvin Leerdam, as he is probably changing his international allegiance to Suriname.
So I'm going with 2017 All-Star Kappelhof, who I think is still fairly solid.
But really the choices aren't great. Dave van den Burgh? Roland Alberg scored a hat trick once I guess? Danny Koevermans was decent but injured all the time?
Maybe it's a hot take. It probably is.
North Macedonia: Oka Nikolov ( PHI 2013)
Never actually played, only in a friendly. Watch this space though as North Macedonia is apparently courting LAFC's Danny Musovski.
Northern Ireland: Johnny Steele ( RSL 2012, NYRB 2013-14)
Another case of shaky opposition, it was either Steele or Steve Morrow, who played 41 games for Dallas in the aughts.
Steele played regularly for a Shield winner, the 2013 Red Bulls. Easy peasy.
Norway: ~~Vadim Demidov~~ Ola Kamara ( CLB 2016-17, LAG 2018, DC 2019-pres.)
Adama Diomande is the main competition here. Kamara's first stint in MLS was a smashing success, scoring 48 goals in 90 regular season matches for Columbus and the Galaxy (he was traded for Gyasi Zardes before 2018). A brief foray to China followed, and while he's back in MLS with DC he hasn't quite been the same.
Still a good player on his day, maybe just the Bennyball effect.
Poland: Piotr Nowak ( CHI 1998-2002)
When I think of early Chicago, Nowak and the earlier-mentioned Kubik are the first two names that come to mind. Kubik held down the back while Nowak was the chief creator in the midfield. Three-time best XI, three-time All-Star, and MLS Cup MVP.
...can I drink my water now?
Portugal: José Gonçalves ( NE 2013-16)
Gonçalves fell off a cliff in his latter years, but in his first MLS season he won Defender of the Year and in his second he was a key part of a team that made the MLS Cup final and damn near won the thing.
Runner up here is Nani who is probably closing in.
EDIT: I also forgot to mention Pedro Santos, thanks to the Crew fans who pointed that one out. I still think Gonçalves pips him for his 2013 if nothing else, but Santos is probably closer than Nani.
Republic of Ireland: Robbie Keane ( LAG 2011-16)
A LOT closer than you think; ~~Time Person of the Century~~ ~~Juventus legend~~ Ronnie O'Brien was two-time best XI himself.
But nonono. This is Robbie freaking Keane. When we see these big name Euro guys interested in MLS, this is the man we want them to be.
Hypercompetitive and holding guys accountable on and off the pitch, and scoring for fun. 83 goals in 125 MLS regular season appearances. Best XI four times. 2014 MVP. MLS Cup MVP in 2014. A closetful of team awards including 3 MLS Cups.
This man was a baller, and frankly his departure was the beginning of the Galaxy decline into irrelevance, but that's a story for another time.
Romania: Alexandru Mitriță ( NYC 2019-pres.?)
Question mark because he's on loan and I have no idea if it'll be permanent, ~~but he was punted out by the Pigeons just as he was really starting to break out~~. He scored 12 goals in his debut season last year but filled in nicely this year while Maxi Moralez was injured. EDIT: NYC fans have informed me he wasn't punted out, but was loaned out to be closer to his pregnant wife. My apologies.
Honorable mention: Alex Zotincă, who played for the Wizards and Chivas USA in the aughts. Brave man.
Russia: Igor Simutenkov ( KC 2002-04)
Not a lot to pick from here either. 49 games, 12 goals for this forward from Moscow, who now serves as an assistant coach at Zenit.
Scotland: John Spencer ( COL, 2001-04)
Give Johnny Russell another few years and he'll pass Spencer, but for now I'm leaning the latter. Spencer as a coach was frustrating as hell, but as a player he was Best XI twice and an MVP finalist once. Dude could score goals despite battling injuries in his time in MLS.
Just don't let him sign Kris Boyd. Then you lose to Cal FC. No one wants that.
Serbia: Aleksandar Katai ( 2018-19, 2020)
FROM A SPORTING PERSPECTIVE.
And mostly due to a weak pool. Runner up was probably someone like Miloš Kocić.
18 goals in 62 games for Chicago before getting yeeted back to Serbia for Bad People Reasons
Slovakia: Albert Rusnák ( RSL 2017-pres.)
He has tenure on Ján Greguš, who's the closest competitor, but Rusnák is also good. He followed up a 14-assist debut season (4th in the league) with back to back 10 goal seasons before struggling this year with injury.
Slovenia: Robert Berić ( CHI 2020-pres.)
Once he got acclimated to MLS, the goals came, and Chicago has its successor to Nikolić up top. He finished with 12 goals in his debut season, tied for second in the league with Ruidiaz and Zardes.
Also, from what I saw early on, seems like he's a dark-arts type of guy that gets in your head. That's fun.
Spain: David Villa ( NYC 2015-18)
I really didn't want to put him here due to recent allegations, and the fact that Pozuelo has already matched his MVP and two Best XI performances....
77 goals in 117 games though, that's tough to pass on.
Sweden: Zlatan Ibrahimović ( LAG 2018-19)
It's Zlatan.
He pretty much dragged a sorry LA organization to something resembling competitiveness.
What the hell did you expect?
(Anton Tinnerholm made this hard, though)
EDIT: Forgot Gustav Svensson as well in my honorable mentions.
Switzerland: Stefan Frei ( TOR 2009-13, SEA 2014-pres.)
Pretty self-explanatory, one of the most accomplished keepers in MLS history and with a closetful of hardware. And all it took Seattle to get him was a late first round pick that pinged around so much that it was eventually traded for a coach.
Turkey: Sercan Güvenışık ( SJ 2012)
5 games that year. No one else has flown the Turkish flag in MLS.
Ukraine: Dema Kovalenko ( CHI 1999-2002, DC 2002-05, NYRB 2006-08, RSL 2008, LAG 2008-10)
I'm afraid he'd break my legs if I didn't. One of the most physical and downright dirty players the league has ever seen. Made nearly 300 appearances though, and has one each of the 3 major US trophies (MLS Cup, USOC, Shield), all with a different team.
Wales: Andy Dorman ( NE 2004-07, 2013-15)
Dorman was a key part of that real good Revs team from the mid-aughts, and just beats out Carl Robinson. He made 112 appearances in his first stint, and played in 3 MLS Cup finals, though they famously lost all three. The Revs brought him back in 2013 after some time in Scotland and England, and was playing semipro in the area as recently as 2018.

USA Today article

'Looking down their nose at you': GameStop frenzy showed a fresh contempt for hedge funds. Why do Americans hate them? Updated 2:25 pm EST Feb. 11, 2021 In the middle of a pandemic and slow economic recovery, Americans think they’ve identified their Wall Street villain: hedge funds. Their nemesis is summed up in a few searing images: a hedge fund manager who makes millions betting that the subprime mortgage market will collapse, without warning them. Or another relaxing on a yacht as the economy tanks. Years of anger culminated late last month when a group of angry small-time investors on Reddit took on a few of those firms in the GameStop “short squeeze” frenzy. That spurred millions of others to join in, as their effort to drive up the price of a stock perceived as undervalued soon shifted to a campaign to “Stick it to Wall Street." They used the "squeeze" to rally the share price and make profits for themselves while forcing the hedge funds who had bet it would fall to buy it to prevent greater losses. What are these funds, and where does this resentment come from? Hedge funds, known for using higher risk investing strategies, are private investment vehicles that typically wealthy individuals use to get higher returns. They control more than $3 trillion in assets globally. They've angered many Americans by gutting companies such as former American retail icon Sears, causing layoffs and engaging in questionable financial practices that contributed to the near collapse of the U.S. financial system in 2008, experts say. 'This is life changing': Meet the Redditors behind the GameStop saga “Most people see it as guys in suits looking down their nose at you,” says Adam Bixler, 28, an active user on the WallStreetBets Reddit forum, whose members led the charge against the funds. “How I feel is probably how a lot of people feel when thinking about the financial crisis and the massive wealth inequality that exists in this country.” Radio Shack, Toys ‘R’ Us and Payless ShoeSource, along with mall-based retailers such as the Limited, Wet Seal, Claire’s and Aeropostale faced further financial woes after hedge funds and private equity firms loaded them up with debt. A fight is raging in the stock market: Should you worry about your 401(k)? Where to get vaccines: CVS, Walgreens to begin delivering COVID-19 vaccines on Friday “The idea that you can crack open a hedge fund like a piñata and redistribute all this money to people in the form of a short squeeze is very appealing,” says Bixler, who lives in Boonton, New Jersey, and works as a product manager for a company that makes software and tools for the advertising industry. “These are the stimulus checks that everyone wanted.” Proponents of hedge funds say the firms identify and support distressed industries such as retailers and newspapers. These funds are owned by groups of big investors pooling the savings of millions of unionized workers, such as teachers and firefighters, who count on hedge funds to grow and protect their nest eggs. Even so, hedge funds are viewed as vultures by many Americans. Kaysha Apodaca, an emergency room nurse in Dallas, was furious last summer when she lost thousands of dollars after CytoDyn, a biotechnology company she owns, was hammered following a negative report from a “short selling” research firm, about one of CytroDyn's drugs in clinical trials. The post with the research was later pulled. This year, Apodaca thought she missed the opportunity to jump in and buy GameStop or AMC, so she supported the Reddit campaign against hedge funds by investing a few thousand dollars into shares of Nokia, another beaten-down stock discussed on the forum. “I hate hedge funds. Even if this goes to zero, I’m OK with it. I’m not selling, just to prove a point,” Apodaca said. “Hedge funds have unfairly made money off retail investors for years. Now they’re getting a taste of their own medicine.” For Iris Findlay of Orlando, Florida, joining the movement was a way for Americans to show their strength in numbers. “I’m definitely not OK that there are so many billionaires hoarding their wealth while people are struggling, especially during the pandemic,” said Findlay, 31, who is disabled and retired from the Air Force. A large portion of hedge-fund assets are owned by institutional investors, such as pension funds and endowments. Hedge fund research has been critical in exposing an array of accounting fraud scandals in recent decades, including the one involving energy firm Enron. “Hedge funds do play a very important role in the financial ecosystem, but at the same time, they have a PR problem,” says Andrew Lo, a finance professor at MIT Sloan School of Management. They are an easy target, experts say, because some high-profile managers' massive wealth offends Americans who struggle to make ends meet. Michael Burry, founder of Scion Asset Management, is an investor whose billion-dollar bet against the housing market was chronicled in Michael Lewis' book "The Big Short." He personally collected $100 million and made $750 million in profits for his investors. These managers “are seen as multibillionaires that really don’t care about the public good and are focused on enriching themselves and their investors,” Lo says. “But I think that’s a caricature, especially given that hedge funds now have become much more institutionalized as pension funds and endowments are investing in these financial vehicles.” Who do Americans blame? When asked who was the “most in the wrong” in the trading mania that set off one of the biggest short squeezes in history, nearly half of Americans polled said it was either hedge funds (27%) or online brokerage Robinhood (22%), according to a Harris Poll survey conducted Jan 29-31 that was given to USA TODAY exclusively. Just 8% said it was the Reddit retail investors on the WallStreetBets forum, who angered hedge funds that had bet GameStop's stock would remain low. The small-time investors used the forum to help drive up the prices for shares such as GameStop, theater chain AMC Entertainment and several other companies. Many respondents were angry that hedge funds were shorting stocks – betting that the share prices would fall – of companies that average people use and love, according to John Gerzema, CEO of the Harris Poll. “This wasn’t just an attack on a few weak companies,” Gerzema says. “These are companies that are a part of middle-class America and ordinary people’s lives.” How did these funds begin, and how did they grow into such big villains in the minds of so many? What are hedge funds? Hedge funds are financial partnerships between a professional fund manager and investors who pool their money into the fund to earn active returns. Hedge funds can be traced back to the 1940s when Alfred Winslow Jones, an investor, sociologist and former Fortune magazine writer, created a "hedge" by “shorting" stocks he thought were poised to fall. The "hedge" was meant to reduce risk and protect against market fluctuations. It was unconventional at the time but remains the basic strategy for these funds. Hedge fund strategies today are more diverse and run the gamut of extremely risky to fairly conservative. There's another theory about the origin of hedge funds, and this one is connected to a more beloved figure. Some people credit the founding of hedge funds to Benjamin Graham, a mentor to Warren Buffett and the author of "The Intelligent Investor" – the bible of everyone who loves Buffett's method of investing. Buffett, one of the world's richest people and a folksy inspiration to small-time investors, argued that Graham managed a fund with a "hedge"-like strategy in the 1920s. So you made a bundle on GameStop: Get ready to pay the taxes How did hedge funds evolve? Hedge funds have gained in popularity over the past two decades after many of them delivered hefty outsize returns in either up or down markets, an attractive selling point for savvy investors. Some of the world's largest hedge funds include Bridgewater Associates, founded by billionaire Ray Dalio; Renaissance Technologies, founded by billionaire Jim Simons; and Pershing Square, run by Wall Street billionaire Bill Ackman. They have historically charged much higher fees than mutual funds, which are professionally managed funds that invest in stocks, bonds or money market instruments. Since hedge fund managers are nearly always paid a performance fee, or percentage of the gains they create, they have a strong incentive to make money for their investors. For the hedge fund managers to earn performance fees, their investors have to make money first. Hedge funds charge an expense ratio and a performance fee. The common fee structure is known as two and twenty – a 2% asset management fee and a 20% cut of generated gains. How did they become villains? While many Americans lost money during the depths of the financial crisis, some big-time investors did astonishingly well, including those who predicted and profited from the buildup and collapse of the housing and credit bubble in 2007 and 2008. For those Americans who had their livelihoods upended in the financial crisis, it left a bad taste in their mouths, experts say. “They’re associated with ruthless financial institutions that are out there to make money and not care where it’s coming from,” says Itay Goldstein, a professor of finance and economics at the University of Pennsylvania's Wharton School of Business. A big winner from that time is billionaire investor John Paulson, a hedge fund manager who netted $20 billion in profits when he bet against subprime mortgages at the peak of the credit bubble in 2007. In general, short sellers keep stock prices in check by voicing their opinion on where they believe a stock is valued, says Dennis Dick, head of markets structure and a proprietary trader at Bright Trading in Las Vegas. “I’m concerned with this public image that ‘evil short sellers are betting against America’ and that it’s ‘un-American to short stocks,’” Dick says. “It’s not like every short seller is making bets against America. They’re making calls on whether a stock is overvalued or not.” GameStop: Reddit ran a 5-second Super Bowl ad in honor of WallStreetBets, GameStop stock volatility The hedge fund industry has faced a rough stretch in recent years and underperformed the broader stock market but produced its best return in a decade at 11.6% in 2020, according to data provider Hedge Fund Research. Some received a boost from shares of technology firms and companies that focused on goods that people used when stuck at home during the pandemic. Americans who don’t invest directly in hedge funds still receive a benefit from the returns that hedge funds generate, according to Daniel Smith, a partner at ACA Compliance Group, an advisory firm for financial services. Of the $4.5 trillion in state and local pension plans, about 6.9% is allocated to hedge funds, according to data published by the Center for Retirement Research at Boston College, the Center for State and Local Government Excellence and the National Association of State Retirement Administrators. ”Hedge funds help secure the retirement of more than 26 million teachers, firefighters and other public employees by helping pensions navigate all market conditions and meet long-term financial obligations,” says Bryan Corbett, president and CEO at Managed Funds Association, a hedge fund lobby group. GameStop and questions of power The rollercoaster involving GameStop, Reddit and Robinhood has prompted Capitol Hill’s harshest criticisms of Wall Street in years. Several prominent lawmakers on Capitol Hill have warned of such moments, cautioning that companies and hedge funds have too much power. One of these lawmakers, Sen. Elizabeth Warren, D-Mass., who is well known for her disapproval of Wall Street, called on the Securities and Exchange Commission (SEC) to address the dramatic swings surrounding these companies. Warren wrote in a letter that it is “long beyond time for the SEC to act” and asked it to investigate the rallies in GameStop, AMC Entertainment and others that “have seen huge shifts in their share price driven by similar internet reading schemes.” "These wild fluctuations are just the latest indication that many private equity firms, hedge funds, and other investors, big and small, are treating the stock market like a casino, giving little consideration to the companies, communities, workers, and consumers that may be affected by these risky bets," she wrote. The House Financial Services Committee will hold a virtual hearing Feb. 18 regarding “recent market volatility” involving GameStop and the other companies. According to Politico, the CEO of Robinhood, Vlad Tenev, is likely to testify. GameStop-Robinhood stock revolution: Not a secure retirement plan Does the movement have legs? Questions have been raised as to whether the populist movement threatening to disrupt the financial system will be sustained. It’s too early to tell, experts say. “It has the potential to gather momentum. It depends on whether we see other related episodes in the next few weeks that show the same kind of patterns in the financial markets," Goldstein says. "We live in a period of so many unusual things going on that it will probably take the edge off this event." Hedge funds such as Melvin Capital Management took the brunt of losses from soaring stock prices of GameStop and other heavily shorted stocks. Others made a ton of money on the rally, including Senvest Management, which had a profit of nearly $700 million, The Wall Street Journal reported. “Is it sticking it to Wall Street? Only temporarily, but in the long term probably not,” Goldstein says. “At the end of the day, the sophisticated financial institutions will find ways to recuperate and make money out of this.” Lo of MIT agrees. “This incident highlights the growing dissatisfaction, distrust and dislocation that many people feel with respect to the financial sector,” Lo says. “It suggests that people are sick and tired of being disenfranchised and being pushed around by large financial institutions.” Contributing: Savannah Behrmann

Lost in the Sauce: Barr's DOJ shut down investigations of Trump and admin officials

Welcome to Lost in the Sauce, keeping you caught up on political and legal news that often gets buried in distractions and theater… or a global health crisis.
Housekeeping:

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Post-election

On Saturday, Trump announced on Twitter that he has put his personal lawyer Rudy Giuliani in charge of his campaign's long-shot post-election legal challenges. Other people on the team include Joseph diGenova, Victoria Toensing, Sidney Powell, and Jenna Ellis.

Giuliani worked with a Russian agent to smear Biden. diGenova and Toensing tried to get the Justice Department to drop charges against corrupt Ukraine oligarch Dmytro Firtash. Powell represents Michael Flynn and champions "deep state" conspiracies. Ellis said gay marriage leads to pedophilia.

NYT: Mr. Trump turned to Mr. Giuliani earlier on Friday in reaction to the latest setback he faced in court, this one relating to votes in Maricopa County, Arizona… A half-dozen other Trump advisers have described Mr. Giuliani’s efforts as counterproductive and said that he was giving the president unwarranted optimism about what could happen… In an Oval Office meeting with aides on Thursday, Mr. Trump put Mr. Giuliani on speakerphone so the others could hear him. He angrily accused the aides of not telling the president the truth

Giuliani’s conspiracy-riddled rant at Four Seasons Total Landscaping was so disastrous that it “scared off many of the lawyers” recruited to argue election-related lawsuits. Politico: “Campaign officials described the episode as disastrous...there are widespread concerns within Trumpworld and GOP circles that Giuliani’s antics are thwarting the president’s legal machinery from within.”
Two major law firms have withdrawn from Trump campaign cases as his legal challenges crumble. Arizona’s largest law firm Snell & Wilmer dumped the RNC and Trump campaign effort to challenge votes in Maricopa County. Porter Wright Morris & Arthur is abandoning Trump’s attempt to block Pennsylvania's popular vote for Joe Biden.

In one day (Friday), nine cases meant to attack President-elect Joe Biden's win in key states were denied or dropped - seven in Pennsylvania, one in Arizona, and one in Michigan.

The new federal chief information security officer, Camilo Sandoval, has already taken leave from his day job to participate in a pro-Trump effort to hunt for evidence of voter fraud in the battleground states. The group, Voter Integrity Fund, is a newly formed Virginia-based group that is analyzing ballot data and cold-calling voters. Sandoval was officially appointed on Nov. 4, 2020, but lists his starting date at October on his personal LinkedIn page.

WaPo: Sandoval is part of a hastily convened team led by Matthew Braynard, a data specialist who worked on Trump’s 2016 campaign. Another participant is Thomas Baptiste, an adviser to the deputy secretary of the Interior Department who also took a leave to work on the project. Braynard said in an interview that several other government officials on leave are also assisting the effort, but he declined to identify them.

Media’s role:

Facebook Cut Traffic To Leading Liberal Pages Just Before The Election: Liberal page administrators who spoke with BuzzFeed News said that their reach declined by as much as 70%, and still hasn’t recovered.
Facebook Live Spread Election Conspiracies And Russian State-Controlled Content Despite Employee Fears: The social network’s live video tool has recommended videos featuring misinformation and the hyperpartisan views of Trump allies leading up to and following election day in the US.
In the week after the election, Trump’s postings dominated Facebook, accounting for the 10 most engaged status updates in the United States, and 22 of the top 25. “I WON THIS ELECTION, BY A LOT!” was his top post.
YouTube Is Doing Very Little to Stop Election Misinformation From Spreading
Social media app Parler receives financial backing from conservative hedge-fund investor Robert Mercer and his daughter Rebekah, The Wall Street Journal reported. Parler turned into a kind of de facto home for conservatives’ protests against the election— including the persistent “Stop the Steal” campaign— after the race was called for former Vice President Joe Biden. Several high-profile conservative social media personalities encouraged people to abandon Twitter and Facebook because of their moderation policies, and instead follow them on Parler.

Transition

Emily Murphy, the head of the General Services Administration, still hasn’t signed the official letter that would allow the incoming Biden team to formally begin the transition. House Democrats are assessing options to force the GSA’s hand, which could include summoning Murphy to the Hill to testify or suing her. “Obviously, Congress could file suit against the GSA administrator for failing to do her duty. We could seek to get a court to, in fact, issue an order

Her ascertainment is the legally necessary precursor to the government’s assistance to the Biden-Harris Presidential Transition Team. It releases $6.3 million dollars to the team, which is funded by public and private money; a loan of expanded federal office space and equipment; access to government agencies that will begin sharing information and records about ongoing activities, plans and vulnerabilities; national security briefings for the president; and other support.

The Office of the Director of National Intelligence recently confirmed that it is not providing national security briefings to the president-elect. The Defense Department has also reportedly indicated that it will not meet with the Biden-Harris transition team until Murphy formally affirms the apparent winner.

One of the officials fired in Trump’s latest purge was helping prepare for the transition to the new administration. USAID Deputy Administrator Bonnie Glick was removed abruptly to make way for a Trump loyalist after she had been supportive of transition planning, including the preparation of a 440-page manual for the next administration.
The GSA’s refusal to enact the transition has locked Biden’s team out of crucial Covid-19 pandemic data and government agency contacts. The president-elect’s Covid-19 task force has been trying to work around the federal government by connecting with governors and the health community.

The head of Operation Warp Speed, Moncef Slaoui, called on the White House to allow contact with the Biden team, saying “It is a matter of life and death for thousands of people.”

White House’s Office of Management and Budget is considering 145 new regulations and other policy changes they could enact before Biden’s inauguration - rules that will be challenging to undo once they are finalized. Critics and supporters of the administration say they expect a final burst of regulations to be finalized in the weeks before Jan. 20.

The rules under development include policies that the incoming Biden administration would probably oppose, such as new caps on the length of foreign student visas; restrictions on the Environmental Protection Agency’s use of scientific research; limits on the EPA’s consideration of the benefits of regulating air pollutants; and a change that would make it easier for companies to treat workers as independent contractors, rather than employees with more robust wage protections.

Last week, both Secretary of State Mike Pompeo and White House trade adviser Peter Navarro said they’re preparing for a second Trump term. “There will be a smooth transition to a second Trump administration,” Pompeo said during a news conference Tuesday afternoon (clip). Pompeo then doubled down on Fox News (clip). “We are moving forward here at the White House under the assumption there will be a second Trump term,” Navarro said on Fox Business Friday (clip).

DOJ interference

Attorney General William Barr stopped career prosecutors in DOJ’s Public Integrity Section from investigating whether President Trump broke any laws related to his conduct with Ukraine last year. The section was initially given the green light to pursue “a potentially explosive inquiry” into Trump, but after the Senate acquitted the president during impeachment proceedings, Barr sent the case to the U.S. attorney’s office in Brooklyn.
Prosecutors in DOJ’s Public Integrity Section were also prevented from bringing charges against former interior secretary Ryan Zinke by political appointees atop the Justice Department. Deputy Attorney General Jeffrey Rosen told prosecutors that they needed to gather more evidence and refine the case against Zinke for lying to Interior investigators.

The investigation into Zinke stemmed from his decision to block two Native American tribes—the Mashantucket Pequot and Mohegan—from opening a casino in Connecticut. Zinke’s office had been lobbied heavily by MGM Resorts International, which had been planning to open its own casino very close to where the tribes intended to break ground.

Sixteen assistant U.S. attorneys specially assigned to monitor malfeasance in the 2020 election urged Barr on Friday to rescind his memo allowing election-fraud investigations before results are certified. "It was developed and announced without consulting non-partisan career professionals in the field and at the Department. Finally, the timing of the Memorandum's release thrusts career prosecutors into partisan politics," the prosecutors wrote.
An internal Justice Department investigation found that federal prosecutors who oversaw a controversial non-prosecution deal with Jeffrey Epstein in 2008 exercised “poor judgment” but did not break the law. “They just say he used poor judgment, and that's their way of basically letting everyone off the hook while offering some sort of an olive branch to the victims that we acknowledge weren't treated perfectly,” said Brad Edwards, who sued the DOJ in 2008 on behalf of Epstein accusers.

Immigration news

Eastern District of New York Judge Nicholas Garaufis (Clinton-appointee) ruled that Chad Wolf was not legally serving as acting Homeland Security secretary when he signed rules limiting DACA program applications and renewals. Therefore, in a win for Dreamers and immigration activists, Garaufis said the changes were invalid.

The judge described an illegitimate shuffling of leadership chairs at the Department of Homeland Security, the agency responsible for immigration enforcement, for the predicament of Wolf's leadership and that of his predecessor, Kevin McAleenan.
"Based on the plain text of the operative order of succession," Garaufis wrote in the Saturday ruling, "neither Mr. McAleenan nor, in turn, Mr. Wolf, possessed statutory authority to serve as Acting Secretary. Therefore the Wolf Memorandum was not an exercise of legal authority."

There's a renewed push to get Chad Wolf confirmed as Homeland Security secretary -- a position in which he's been serving in an acting capacity for a yearr -- before Inauguration Day. In the past week, Homeland Security officials spoke to Senate Majority Leader Mitch McConnell's office about bringing the nomination to a floor vote in the coming weeks.

Within the last six months, as the coronavirus pandemic gripped the US, the Trump administration filed 75 lawsuits to seize private land along the US-Mexico border for the border wall." People right now are having to choose between their health and their homes," said Ricky Garza, a staff attorney at the Texas Civil Rights Project, a legal advocacy group.
After a series of price increases, Trump’s border project will cost taxpayers $20 million per mile of border fence. A review of federal spending data shows more than 200 contract modifications, at times awarded within just weeks or months after the original contracts, have increased the cost of the border wall project by billions of dollars since late 2017.
DHS has expelled unaccompanied immigrant children from the US border more than 13,000 times since March, using the coronavirus as an excuse to deny children their right to asylum. Previously, unaccompanied children were sent to government-run shelters as they attempted to pursue their asylum cases.
Migrant children from Central America are being expelled to Mexico, where they have no family connections. The expulsions not only put children in danger - the policy violates a diplomatic agreement with Mexico that only Mexican children and others who had adult supervision could be pushed back into Mexico after attempting to cross the border.
The House Judiciary Committee released a report on the Trump administration’s policy of separating families at the border, revealing that the federal agency that cares for migrant children was not told about the policy. The chaos contributed to the inability to later reunite parents and children.
The Trump administration is trying to deport several women who allege they were mistreated by a Georgia gynecologist at an immigration detention center. Hours after one detained woman spoke to federal investigators about forced hysterectomies at a Georgia detention center, she said ICE told her that it had lifted a hold on her deportation and she faced “imminent” removal. Six former patients who complained about Dr. Mahendra Amin had already been deported.
Northern District of Illinois Judge Gary Feinerman (Obama-appointee) blocked a key Trump administration policy that allowed officials to deny green cards to immigrants who might need public assistance Advocates who had feared that the policy would harm tens of thousands of poor people, particularly those affected by widespread job loss because of the coronavirus pandemic.

Miscellaneous

Microsoft said it has detected attempts by state-backed Russian and North Korean hackers to steal valuable data from leading pharmaceutical companies and vaccine researchers. “Among the targets, the majority are vaccine makers that have COVID-19 vaccines in various stages of clinical trials.”
Two census takers told The AP that their supervisors pressured them to enter false information into a computer system about homes they had not visited so they could close cases during the waning days of the once-a-decade national headcount.
The Supreme Court on Tuesday signaled it’s unlikely to tear down Obamacare over a Republican-backed lawsuit challenging the landmark health care law. Chief Justice John Roberts and Trump appointee Justice Brett Kavanaugh strongly questioned whether the elimination of the mandate penalty made the rest of the law invalid. Kavanaugh appeared to signal on several occasions that he favored leaving the rest of the law intact if the mandate is struck.
Texas Attorney General Ken Paxton (R) was sued last week by four whistleblowers claiming that he abused his office to benefit himself, a woman with whom he was said to have had an affair, and the wealthy donor who employs her before retaliating against the members of his staff who reported him to the FBI.
The Trump administration is rushing plans to auction drilling rights in the U.S. Arctic National Wildlife Refuge before the inauguration of Biden, who has vowed to block oil exploration in the rugged Alaska wilderness. Biden’s efforts could be complicated if the Trump administration sells drilling rights first. Formally issued oil and gas leases on federal land are government contracts that can’t be easily yanked.

Looking back on a year of Nano development - Presented by NanoLinks

My opinion is that buying 10 shares at a time is better than buying in bulk, prove me wrong.

Hey guys, this post is not intended to tell you what to do. I'm not a financial advisor. This isn't my day job. I am not even a day trader. I learned the difference between call and put options like 3 months ago. I don't trade options. I don't even know how yet, to be frank. I recently got an RH account to try to learn how and then this shit blew up. This post is viewable to the general public and is not "insider knowledge". Everything I am about to say, I have gleaned from PUBLICLY ACCESSIBLE DATA. That Hedge funds and other people in the media, the government, and in the general public ALL have access to. This is MORE VISIBLE than even Facebook. Let alone a country club or private "dinner party". Just saying. I am a real person. I am not a bot. I am not trying to screw anyone over. I like the stock I am choosing to gamble my disposable income on and think it will be a good investment regardless of the action over the next few weeks. 💎🙌
I CAN earn it back if I have to. I didn't stake my entire savings. I don't advise people to gamble with money they don't have. Not for financial reasons, solely, but more for mental health reasons.
Bias disclosure: I currently have 1882 shares of AMC at an average price of 9.27$ and I occupied Wall Street for a bit after the financial crisis, mostly on reddit as I was in medical school at the time, and supported occupy the SEC. Please see my post history. It's all there in the top posts. I have nothing to hide as I know I am a valued member of our society, I pay my taxes, I treat mental illness, I follow the law, and I don't normally gamble. This is not about the money for me personally, it's about principle. It's my token of rememberance for the failed actions of our government to hold these types of people accountable for the great recession and the subprime mortgage crisis. Also, WSB just happened to stumble upon these criminal vulture firms, in the act of active company rape and decided to give them a licking. If you were interested in GME and were one of the people on the other side [IE at one of these firms] reading the discussion over at WSB should have been your job as a form of market research. If you missed the warning, it's not Reddit's fault. If you suck at your job, it's not Reddit's fault. I don't see how pinning them in that position was illegal. It wasn't planned, it wasn't private. It developed organically like a movement. It continues to grow. Silencing us will only make it louder. You need to level the playing field and regulate the markets. What they did to defend themselves was illegal. The manipulation of the market and the media was illegal. The restriction of buying was illegal. The algorithmic ladder attacks were illegal. Thus I will hold the line, as I HAVE been since Tuesday. It's been a wild ride and I'm tired of this shitshow. I want to get back to normal investing after this fiasco. It's much better for my sleep.
*So here goes my theoretical question. AGAIN, I AM NOT saying you SHOULD do this. What you do is your call. I am asking if this has been done before or if it even can be done. I'm a n00b. Educate me. I'm trying to learn how the arena works. Like how it really works.
If short ladders by algorithms are being used to artificially deflate the stock price. IE: tanking the price of AMC with low trade volumes that they simply pass amongst themselves. I think yesterday it was 5% buy and hold and 95% sell for AMC but each time with low volumes in a very predictable pattern. (Trey from the link below explained it very well several times better than me.)...
What prevents retail traders from spacing out their purchase orders to 1-10 shares at a time and holding. Wouldn't that be better than just impulse buying 100 shares because you want in and you like the stock? Would it do the same thing as short laddering but in converse? Just curious. Would like to hear your opinions.

I've been watching this channel to learn about AMC action and markets in general and it has been super educational.

*I am not investing in AMC to make a quick buck. I am not a day trader or a pump and dumper. I am doing this because I think AMC will not die from the pandemic, was artificially deflated by vulture hedge funds, almost to the point of bankruptcy, and will NOW be able to pivot into a better business model with fresher screens, Hollywood exclusive releases, fancier theaters, pent up demand, etc., with the new capital and public interest. People LIKE the MOVIES. I grew up in NJ and movie theaters were a HUGE part of my life and many of my most memorable moments occurred at the movies. They make me warm and fuzzy. They have a certain nostalgia for me personally and I like supporting local business when I can. [I know AMC was bought by China, but the staff are all local]. In my opinion GME has an antiquated business model bc I buy games on STEAM and online. AMC was only struggling because of COVID and I don't think that otherwise people would completely stop going to the movies. We Americans LOVE going to the movies. I love going to the movies. That's just my opinion. Don't hate on me for it. I think that the "real value" of AMC is AT LEAST about 10-20$ which is what they were at before 2020 and it wasn't even their peak value. Even if the real value is closer to 5$, according to the arguments of experts, that's just their fucking opinion. It's a different situation now and I don't agree. Is that my right to disagree with them and pick my own stocks? Or can I only bet on what Fox Business tells me to. Or Jim Cramer. As an individual investor, am I free in this country to spend my money how I want on the stock market, or am I not? Am I free to make my own choices about whether to buy a stock or not? At least I think I should be. If I am not, it will solidify my opinion [and the watching world's opinion] that "free market" capitalism is indeed a farce. It will highly depreciate the value of the American dream and my respect for our current government. Which I was Ecstatic about during Election Day. [Disclosure, Bernie/Liz Bro, who voted for Biden and abstained from voting in 2016 due to bitterness about the primaries. Damn you DWS, you know what you did.] We all know the hedge funds sure are free to buy as much stock as they want to. Apparently even to buy stock that doesn't exist. WTF is that? Glad I found out now. Even if I lost 8k by betting it will be 10$ in 2022 rather than 5$ isn't it my CHOICE when to sell? Am I not free to HOLD the damn stock if in my opinion, I'm willing to consider it a tax on sending a giant reddit shaped middle finger into space to these people that rape companies regardless of the consequences to local staff? These parasites who prefer profit to morality and decency? Who sold their souls in the search of...what?...private islands and yachts? Let THIS MOMENT be your Memento Mori, you soulless motherfuckers. If you have any of it left, now is your time to search for it. Your actions will leave behind a husk of an economy and earth if left unchecked. We the Reddit "Retards" stumbled upon our teeth. For the first time the MARKET BITES BACK AND WE ARE NOT LETTING GO. WE ARE MAKING A STAND. FUCK YOU. We all know that the American Citizens will end up footing the bill anyway in taxes when all those people start relying on the government for survival after you motherfuckers artificially drive their employer into bankrupcy. FUCK YOU. You're already taking my money and you know it. I pay 47% in taxes due to my income and living in NYC. FUCK YOU for evading them with offshore accounts you GREEDY FUCKS. I am willing to lose 8k to do that (send you a message) and to rapidly learn about what is going on to manipulate markets. It's also partially the cost of education in my calculus. I have learned more in one week riding this wave, than in 4 years of getting my Economics degree. Either way, my current buy in as at 9.27 so I will hold at least until I make my initial investment back. I am also disclosing that if the stock goes up to 30$ I will likely SELL enough shares to cover half of my position because I am not a degenerate gambler and have been holding the line since Tuesday and it has taken a toll on my sleep and my sanity. I know I might lose some money and this is a crazy roller coaster. I want to get out most of my investment ASAP and then ride the wave to then END with you all. IF it happens. I know it may not. I don't care. The message seems to have been sent. Seems like they received it. But we don't know who will be regulated and how yet. I am tired of this fight. I don't like it. I don't want to do it anymore. But I stayed in for the principle not the principal, and for the people just finding out about this now to still be able to make a choice about what to do before we release them from the HOLD. This is a constantly evolving situation. Will they censor the media from talking about stocks? Why target Reddit? Reddit is LIKE the media. It's not a private chat room. THESE WORDS CAN BE READ BY ANYONE WITH AN INTERNET CONNECTION AND WE ARE AWARE OF THIS. If it falls, and I lose my money, I don't think the government will come in and save me. I don't expect them to. I EXPECT them to let this play out and not SIDE with these assholes. It upsets me that they seem to have decided to save Vulture capitalists. Anyway, despite my fear of posting this question and the associated rant, I really want to know the answer. Has it been done before by Algorithms pushing stocks higher? Is it possible to make a crowdsourced one? Is it legal?
If this gets removed or censored in some way. You have your answer I guess.
facta non verba.
Thanks.

****IMPORTANT ADDENDUM****: I want to add that I was quite revved up when I wrote this and have had some time to reflect. I want to stress that it is not my intention to lay blame or judge any individual person or organization for the current situation [Of stacked odds in the retail investor vs hedge fund battle]. Emotions run high in the stock market. I know this through experience now. I was angry when I wrote this post. [I am leaving it unedited for posterity and since whoever needed to see it already saw it so removing it would be pointless] This should not become a witch hunt or be personal. These guys and girls are people too. They work for a corporation. They earn a paycheck. They have friends, partners, and families too. I am a person. You, reader, are a person. Don't make this personal. They didn't invent algorithms and weren't the ones that necessarily wanted to take these short positions. The market calculus at the time, dictated that this was a good call for them, it wasn't. We accidentally stumbled upon it on WSB and shit-posted about it until it blew up and they were really in a bind. I understand their calculus to a degree, but I am a "smooth brained" "retard" when it comes to these things. I am learning fast though. I understand that certain companies are likely to fail and it is possible to make a profit off that. My moral views about it are irrelevant as the situation they're in dictates their actions, not my personal views about that. I understand that they're getting screwed at the moment and I'm sorry. I truly hope most of them do not get too damaged by this and have had time to change their positions. But I also believe in the American dream, and think that the people that were able to find a good position in the stock market [the retail investors] should be rewarded. I sincerely hope this doesn't trigger a massive systemic issue and we don't accidentally BREAK the stock market with this action on those stocks. It doesn't seem like that would happen, but again smooth brain here. WE NEED THE MARKET TO STAY ALIVE to have peace and stability in this country. Reddit crew, I beseech you, please understand that the individuals involved are also playing by the rules given to them by the market. The problem I personally have is that the rules are different for the retail investors vs. the big institutions. I don't have a problem with them as people. I don't want to destroy anything or any institutions. That was never my goal as an activist nor as an investor-activist and I can only speak about myself. I just hope they could find it in their hearts to try to understand our outrage and consider playing by the rules or at least letting us play by the same rules. We are attacking them and they don't like it. I get it. In either case, please understand that I am not vested too strongly in either outcome anymore. I am tired and want to return to my regular life and will not be on reddit for a while, nor will I be investing any more money into the stock market for a while... The whole thing has taken it's toll on me and I am going back to my regular life. This is not my war.
On the government's side, I also understand that their goal is to enforce the rules. I hope I'm not breaking any here and will remove my posts if I am. I am not trying to cause a revolution. This country has been through too much and we finally have a shot at beating COVID and have a competent administration that can guide us back on the right track. I truly believe that the people in charge now are decent people and will do good for this country. If Biden says no more diamond hands, I will listen to Biden. What I do further with my shares shall remain my business otherwise. I will no longer tell anyone what I am doing with my shares. I realize now that this is not always a good idea and should be done with tact and experience. I am not a financial advisor. But also, financial advice and being one is not a joke. I realize this now. MEMEing about stocks is like MEMEing about drinking bleach. People might listen to you and sacrifice their lives on a losing battle. Not everyone knows the stakes and not everyone knows what they're doing. Now that this is blowing up, people can get really hurt financially. Reddit, we could be putting people in danger. I see this now. So you all, too, reading this, PLEASE be careful. About investing and about what you say on social media. INVEST but INVEST RESPONSIBLY and not with money you can not bear to lose. I pledge that I will personally no longer post any inflammatory shit on Reddit. Because now I'm afraid that WE are suddenly some form of weird market makers and I don't have as many lawyers as the hedge funds. I am tapping out from posting any more about the current battle. I wish you all luck on both sides, truly. In the next round tomorrow.
Dear Government: If you want this to end, don't you have the power to delist these "Meme" companies and distribute the shares somehow? If not, the the system is truly stronger than our institutions. If you do this, please make sure people don't lose their life savings somehow. That would be nice. Then, please try to make sure this won't happen again and that the SEC actually regulates and prosecutes people so their calculus isn't that the fines are too low to justify following the rules. [Just my humble opinion as a smooth brain with limited experience of markets. Do what you think is best and I will obey the laws as an individual]. Sorry you might disagree hedge fund guys and girls, but I am entitle to my opinion in a free country. This is my platform. You can have CNN and Fox News. Sorry for saying something. I promise this is the end of it. But also, a lot of market makers on TV seem to assert that the market will self correct and I don't see how this should be a large risk for overall wealth. Who knows, none of us can predict the future. But I think if a bunch of Reddit "retards" get a couple hundred thousand bucks, it won't change the overall situation or necessarily be a net negative; and may in fact trigger a renaissance in this country. You'll still be the biggest fish, just in a more biodiverse pond. It may just create a new class of petite bourgeoise in this country. But it is not likely that if they win, it will cause something like the French Revolution. There will be losers and winners, but in the end, it will be a good story for Hollywood. [Hopefully played on an AMC screen in a post covid world] But what do I know, I'm a just another "retard" on reddit.
I hope that after this, you are all decent humans at the end and don't break any law on all sides. [Reddit, Retail investors, Government, Hedge fund investors, etc] I hope we don't break the market over this. If that is a true risk we need to make the market unbreakable or this WILL keep happening. If anyone is resentful about losing future gains on a good position so the government can fix the market, don't be a fucking greedy idiot and look at what we've achieved so far. This is already a big win for the small guy. And if our markets are vulnerable, the next winners will not be idiots on reddit. But will likely be our enemies from abroad. Not to name names. We will ALL benefit more from long term stability than short term gains. We MUST come together as a country so we can spend that money in the future for things. If we break the stock market, we will not be able to buy things with all that worthless money. But if the system isn't at risk, I don't understand what all the hullabaloo is about. There have been countless bubbles before. Why weren't those regulated as much. Maybe they were and I'm an ignorant smooth brain. In any case, I hope that we can stop fighting over carcasses for greed. This was always about making the rules of the casino fair for me, personally. It's not life or death. I'm not an extremist or an ideologue. It's not about burning down the casino. I hope that the government will intervene if they think it is going to short circuit the whole thing and that people reading this gamble responsibly.
This will be my last post about this as I have a life to live.
-Tememachine OUT.

EDIT 2: Now they're making fun of the movement. Fuck Wall Street. I hope they get what's coming to them one day. [In terms of regulation and prison sentences] I'm still out of this war. But seriously. Fuck them.

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