The memes are over, they‘re all behind me!
Bakes’ Takes Podcast Show Notes Friday, October 8, 2021 :26 Why I do this—Bobby, Jack, please listen in. ‘87 crash, journey, technical analysis first, fundamentals second, not right or wrong, just works for me. read WSJ, Barron’s Economist, listen to podcasts, devour relevant newsletters, monitor what Google alerts bring. Point you to them, but if you don’t want to do that, please know that I’ll do it for you and I eat home cooking, I have no conflicts. What are your pain points? Problems you’d like solved? Topics I should cover? Thank you. 1:42 Thank you especially Charlie, Justin, Murph from this Luddite. 1:49 Supercast/Patreon levels. Weekly call with me on Discord, teach technical analysis, etc. You help me design the show. Guests I should reach out to. Text like I send to my sons. 610-331-4283. 2:39 Not investment advice. Please conduct, and share, your own due diligence. 2:50 Bakes’ Take—Fan Mail! Calls! Questions! Mike! Jack—SOFI, 10-year yield 2:55 SOFI--$18.58, watch for big volume, plug into Google Alerts 4:20 Agree with thesis—student loans, restart in January, refi opportunity 4:59 Higher rates good for them, NIM widen? 5:30 Cross selling. Makes sense 5:34 Noto—Chamath, high praise 5:55 Compete with Robinhood, crypto? 6:09 JPM, etc. sick of fintech eating lunch 6:32 Bakes’ Take--$18.58 close! Big volume? 7;26 10-year 1.57% CLOSE, 1.7%, 1.765%, wait for close but seems likely 8:12 Charlie, NYC, SPCE—Virgin, dead money, SpaceX private widely regarded as the best, all losing money, early imo, Momentus/MNTS, Maxar/MAXR, Rocket Lab/RKLB, Ark Space/ARKX 9:39 SPCE—space tourism? Not where want to be, Chamath has sold lot of stock 10:33 ARKX—Close below $19.12, very bad, Close above $21.19, very good 11:13 Rocket Lab/RKLB—best looking chart imo, do more work 12:03 LMT—old space, nothing going on 12:26 Bakes’ Take—I encourage you to let markets point you to opportunity, rather than news, etc. RKLB possible, but rest of space is avoid. SPACEX goes public different story. 13:54 Square/SQ—close below 200 dma, big volume, great company, 144 P/E 15:18 Bakes’ Take—If you have a DDM you would bet your life on different story. Sell discipline kicked in works very well, if hit new highs so be it. 16:00 BUT…Good example for Bakes’ Takes+--I will monitor your stocks/ETF’s alert you of buy and sell points. What else would you like? 16:20 Charlie again-- very long-term secular bull market as a result of the democratization of finance and the stock market? Seems like there has never been so much dry power and new entrants into the market…doesn’t this mean (all things being equal) there are more people coming into the market which structurally over the long-term will lift asset levels? 16:32 “Increased retail activity could be contributing to record inflows into Equities this year so far—the annualized inflow of $1 trillion to global stocks in 2021 is greater than the cumulative inflow of the prior 20 years, according to BofA Global Research.” 16:56 Free trading, access over cell phones (which are now being put in the hands of billions of people world-wide) and a broader adoption/mass movement of financial education seems like the perfect cocktail of a worldwide buying spree…right? 17:28 These extrapolations, linear thinking, appear at the right arrow not the left, up 7x, you have only seen up, first time Fed can’t prop up market, all the above reverses 19:01 SPY—daily, gap down, close below 50, so far low volume rally to underside/resistance, just warning sign for now 19:50 Bakes’ Take—very long term, up and to the right, do that with 401(k) etc. But we are humans not robots, will panic at some point, I think I can help https://www.youtube.com/watch?v=PBFd0tZsQzs&t=1s 20:58 Generation Gamble, Melissa Lee, CNBC, docs will be different in bear market 21:31 GameStop/GME--$212 to $344 good call, now $173, $161.41 rising 200 dma, leaning to downside, what are fu