Cruel And Unusual - Disrespect For Bears Goes Too Far

For obvious reasons, I’ve always had a soft spot in my heart for stock market bears. Something has been going on recently which compels me to comment on this topic, and it’s probably an event in our little subculture here that you know about: the saga of Citron and GME.

Citron appears to be pretty much a one-man show, that man being Andrew Left, and its specialty seems to be in the most classic tradition of short-sellers, which is to discover frauds (or at least very shaky businesses) which are overvalued and profit from their demise. Their most famous recent target is GameStop (GME), and it hasn’t been demising at all:

GameStop was a $3 stock eight months ago. As I’m typing this, it’s trading at $55, over eighteen-fold higher. As you can see from the volume graph, interest in the stock has exploded lately, and the GME bears have been getting the life squeezed out of them. We are at lifetime highs. And it isn’t because people are lined up down the block in front of every GameStop shop in the country. They aren’t.

On the bearish side, the argument is in the form of a joke: “What’s the difference between Blockbuster and GameStop? About ten years.” On the bullish side, the argument is that GameStop will be the Amazon of gaming. Of course, these days, calling yourself “the Amazon of ________” is a quick way to sell people to your point of view. But it’s working.

Mr. Left has made no secret of his dim view of GME, and the rabble-rousers inhabiting WSB have been merciless. Attacking Citron (which they refer to as “Shitron” – – huh huh). has become a blood sport, so much so that Mr. Left has basically Exited Stage Left since some of the WSB lunatics are actually starting to threaten his children.

This pretty much goes to show just how diseased the “investment” world has become.

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Kate Monroe 1 month ago Member's comment

This is scary!

Terry Caruso 1 month ago Member's comment

Agreed, sometimes people just need to take the loss like men.

Wendell Brown 1 month ago Member's comment

This reminds me of when Michael Arrington felt he had to leave TechCrunch when the threats against him escalated to physical violence. cf https://www.wsj.com/articles/BL-DGB-422

Frank J. Williams 1 month ago Member's comment

Why is the media willing to take Andrew Left's spurious claims of "Twitter hacking and doxing" at face value? He made numerous factual errors in his video and spent half the time insulting Reddit, who he's now claiming threatened him. I don't believe a word he says.

James Madison 1 month ago Member's comment

If Mr. Left was actually threatened that's one thing, but considering his past responses and blatant misinformation on numerous occasions I'm rather inclined to diagnose him as a sociopath.

Texan Hunter 1 month ago Member's comment

Because it’s the other side of the issue from “robinhooders” “day traders” “Reddit kids” “the dumb $”... so the talking heads on CNBC can placate their boomer viewers by sh*t talking the retail traders. It’s so overplayed and annoying but it was a daily thing all 2020, retail ate the streets f**king lunch, mopped the floor with the traditional allocators and every day Cramer and co. “This isn’t right” “this ends badly” “robinhood traders” blah blah fucking blah.

(Don’t take me wrong, I’ve been in the market for 15+, I’m not a YOLO bored on lockdown first timer, it’s just super obvious the narrative they’re rolling with) and taking little Andy’s side fits well