The Daily View: GameStop Falls, Bitcoin Falls (again), Test-Optional Struck Down

Item 1: Closed out GME at profit. It could have been more, but profits are better than losses. It began to crash this morning as the luster faded.

We see the mainstream financial media and social media (as if there is a distinction between the two anymore) working in concert to create as much hype as possible. And then the rug is pulled, as the price crashed 30% today.

Meanwhile the SEC is either powerless or unwilling to do anything. If and when the SEC takes action, it’s only to clean up after the mess and provide the post-hoc justification for its existence. The SEC protects investors after the money is gone, which is like operating on a dead patient. The SEC has and always will be a joke.

The lessons from the 2021, when Mr. Gill first pumped GME, is that you can get away with blatant market manipulation provided a fine line of illegality is not crossed, and that memories are short: there will always be new (and repeat) suckers seeking quick riches, and most will lose.

Item 2: Bitcoin falls again, cannot stay above $70k. Yet again, my Bitcoin Method® keeps killing it. Ash shown below, Bitcoin crashed this Friday as Nvidia and TQQQ are flat. I profited from this in accordance with my method. Combined with GME and other tech gains, this was one of my most profitable weeks ever. It does not profit all the time but it’s days like today where it works.

As Bitcoin continues to fall–to $20k as I predict within the next 2 years–I expect my method to continue to profit.

Item #3:: Stanford Follows Harvard, Yale in Reinstating Standardized Tests

Not a surprise. As it turns out, extracurriculars and ‘holistic admissions’ has a stronger selection effect for SES-status compared to standardized tests. Even if such tests can be coached, the student still has to take it under supervised conditions. Second, the quality of the incoming student body under the test-optional regime may have been noticeably worse, which was to be expected. The SATs are useful at not just assessing baseline competence, but, additionally, outlier ability, which GPAs fail to capture due to grade inflation. Test-optional in the short-run may increase revenues from donations by wealthy parents, but in the long-run hurts the prestige of the institution, which is bad in the long-run for donations. There was a 3-year window when getting into an Ivy League school may have been easier than usual by not submitting a score, but not anymore.