Investing General Discussion

Flobee

Flobee

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Sanrith Descartes said:
Flobee Flobee it might seem as I come off as anti-crypto but I am not. I am anti-bad investment. Doesn't matter if its a bond, stock, SPAC, meme stock or coin (metal or ethereal). What began as a good investment has turned into a financial clown show under Saylor.
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I mean I don't disagree with the general point here. Buying Bitcoin is infinitely better than holding a financial instrument that represents the price of Bitcoin in some way. My main argument is that MSTR should at least be represented appropriately if its going to be attacked. I've been pretty clear from the jump that IMO they're either going to be huge or explode in spectacular fashion.

Either they successfully speculatively attack the USD and buy BTC, or they fail.

They're not highly leveraged as commonly stated. They have over a year of cash reserved for dividend payments, and an incentive to make them for as long as possible. They are absolutely building a ridiculous financial weapon that may very well blow up in their face, I just think if you're going to talk about it, at least be accurate. MSTR is an outlet for the volatility they're piping OUT of their preferreds. Its mostly useful for vol traders honestly and he says that himself.

I tend to think the preferreds are more interesting than MSTR itself. I'm keen to see if they can keep them up
 
Sanrith Descartes

Sanrith Descartes

I was forced to self-deport from the /pol thread
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Blazin said:
I think I'm done talking about MSTR at this point, people should be able to watch this see the giant ass gaping holes in the thought process and make decisions accordingly. If not , caveat emptor
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If you want to save yourself 8 minutes.

"Paying the dividend is the right thing to do, in the short term".
"Even if the board has the right to suspend the dividend, we plan to pay it in perpetuity."
"We are 27% leveraged when counting in the preferreds."
"I understand the concern that the balance sheet needs to cover the preferred payments so we just issued stock to generate $1.88b in payments."
"We will keep 2-3 years of cash reverses to pay the dividends."
"Everyone thinks we need to have a 1MNav but we aren't an ETF we are an operating company, we dont need to maintain 1MNAV."
"We are an operating company, if you want to just buy BTC then go buy BTC."
"We might lend out BTC down the road."
 
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Flobee

Flobee

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Sanrith Descartes said:
If you want to save yourself 8 minutes.

"Paying the dividend is the right thing to do, in the short term".
"Even if the board has the right to suspend the dividend, we plan to pay it in perpetuity."
"We are 27% leveraged when counting in the preferreds."
"I understand the concern that the balance sheet needs to cover the preferred payments so we just issued stock to generate $1.88b in payments."
"We will keep 2-3 years of cash reverses to pay the dividends."
"Everyone thinks we need to have a 1MNav but we aren't an ETF we are an operating company, we dont need to maintain 1MNAV."
"We are an operating company, if you want to just buy BTC then go buy BTC."
"We might lend out BTC down the road."
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They're building a bank. It may be hilariously stupid but that's what they're doing. There is a thread here between BTC price, Tether, GENIUS act, and treasury issuance that I won't bother sperging out about in this thread, but there is a real through-line in the activities of the current administration and Bitcoin. There is a reason the Fed recently flipped on banks holding BTC and they're all scrambling to get set up for custody and rushing their own products. They're in the batters box and Tether / Strategy / etc are rounding 2nd base. We gotta print money, who's gunna buy the debt? We gotta print money, how can we mitigate inflation?

It is retarded until you start to see what they may very well be trying to do. I'm not saying that its actually going to gain traction, but there is an element of the government working on this. See The BITCOIN Act of 2025 (S.954) for example. Conversation doesn't belong here and its highly speculative and to be frank, unlikely.
 
Sanrith Descartes

Sanrith Descartes

I was forced to self-deport from the /pol thread
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Flobee said:
I mean I don't disagree with the general point here. Buying Bitcoin is infinitely better than holding a financial instrument that represents the price of Bitcoin in some way. My main argument is that MSTR should at least be represented appropriately if its going to be attacked. I've been pretty clear from the jump that IMO they're either going to be huge or explode in spectacular fashion.

Either they successfully speculatively attack the USD and buy BTC, or they fail.

They're not highly leveraged as commonly stated. They have over a year of cash reserved for dividend payments, and an incentive to make them for as long as possible. They are absolutely building a ridiculous financial weapon that may very well blow up in their face, I just think if you're going to talk about it, at least be accurate. MSTR is an outlet for the volatility they're piping OUT of their preferreds. Its mostly useful for vol traders honestly and he says that himself.

I tend to think the preferreds are more interesting than MSTR itself. I'm keen to see if they can keep them up
Click to expand...
Perfectly honest here. I look at MSTR through the lens of an investor. Not a Crypto aficionado.
They began as a BTC holding company. This was 100% fine as long as that was what they were. Its why their stock was over $400 for a time.
Then Saylor morphed the strategy (no pun). He began debasing the stock price to buy more BTC. This fucked existing investors. Its a straight up gamble on Saylor's part. If BTC goes flat for a period of time his investors lost.
Then he issued notes paying preferred dividends when he has no cash income to pay the dividends. His cash raising options are issue more equity, issue more notes, sell BTC. There are zero other options for cashflows to pay the preferreds and to buy more BTC.
My opinion is MSTR is no longer an investment, its a gamble. And I am ok gambling. I made some decent alpha during the SPAC craze. but I always knew it was a gamble.
The trick is, as mainstream brokerages allow direct BTC trading and holding, MSTR gets more and higher quality completion for investor alternatives.

Everything above is focused on MSTR the company and not BTC the underlying asset..
 
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Sanrith Descartes

Sanrith Descartes

I was forced to self-deport from the /pol thread
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UNH +5% because...

The Summer I Turned Pretty Prime Video GIF by BuzzFeed
 
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Arden

Arden

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Sanrith Descartes said:
Serious question. If you can buy/sell BTC directly through your broker, what purpose does MSTR serve?


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A better question is if you can buy/sell BTC through your broker for *free* like you can with stock trades, is there a point to Coinbase?

I guess I'll answer my own question and say Coinbase and the other crypto platforms will still probably be the only place you can buy/sell degen coins. Somehow doubt that Schwab is going to let you buy fartcoin, but I could be wrong.
 
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Burnem Wizfyre

Burnem Wizfyre

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fris said:
i shop religiously at HEB and didn't get that card last time I considered it. maybe I need to reassess. is all the butchered mean considered heb brand? at least once a quarter, sometimes 2, you get 5% on all grocery stores w/ discover it or chase freedom, that's probably way I didn't bother. if either of those don't have a gas or grocery bonus, they aren't in my wallet. 99% of the time, i'm using my fidelity card for 2%. probably not the best return, but the return actually goes into savings vs just spending it into the ether.
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Yes the butchered meat is Heb brand from my understanding and so is the gas.
 
Sanrith Descartes

Sanrith Descartes

I was forced to self-deport from the /pol thread
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Michael Lewis gets Michael Burry on his podcast. Only 2nd interview Burry has done since the movie. About 45 minutes long.

Michael Burry Speaks - Against the Rules with Michael Lewis

Of all the characters in The Big Short, fund manager Michael Burry (depicted by Christian Bale in the movie version) seemed the least likely to grant Michael Lewis a follow-up interview. Burry was one of the first to see the subprime housing market crisis coming, and he actually helped Wall...
www.pushkin.fm www.pushkin.fm
 
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