As much as BarStool's Dave Portnoy has become a punching bag for the commission-rakers (or sellers of quote traffic to HFTs) and asset-gatherers across America of all that is unholy about the speculative excess in the stock market, he has also done more than anyone before him to expose the real absurdity of the Fed-fueled farce that CNBC still likes to call a 'market' while helping retail investors crush both hedge funds the and the S&P500.
Today's 'performance' pushed him to '11' on the amplifier of daytrading largesse when, in response to derogatory comments by former CNBC anchor and former hedge fund manager (or something like that) Ron Insana on CNBC this afternoon, Portnoy rage-tweeted:
"Imagine a talking head who tried to start his own hedge fund only to go bust instantly and then he runs back to Tv acting like an expert? Ron Insana is a punchline. Google him. He is a documented failure. Why even put him on Tv @CNBC ? Is he teaching classes on how to fail?"
And then proceeded to choose his next trading target through the CAPM recommended optimal asset selection process of picking Scrabble letters from a bag.
He picked out R-T-X... Raytheon.
We'll see how the stock does, although we fully expect it to soar premarket on Monday just because.
For now, we are sending this along to relevant parties to ensure they are fully aware of what they have done in the name of "saving" us all.
Joking aside, and with the recent suicide of one such speculatively-challenged young man, the fact of the matter is that the dollars being levered into worthless stocks (and options) are real to many people and when this devil ether-chugging casino finally ends, there will be hell to pay, only this time everyone will know The Fed is responsible for enabling it and who knows: maybe one day street protests will finally appear before the Marriner Eccles building.