Who Will Win The Election…
Good morning…
It seems like the surest winner of the election – if one must wager – is BITCOIN (I continue to be long).
Larry (Hostile Charts) points out how it is a proxy for patience.
Despite current narratives about which presidential candidate is ‘pro-Bitcoin,’ every election resolution—Democrat or Republican—has ignited the next leg higher for Bitcoin. So why would I expect this time to be any different?
I’m a perma-optimist (for reasons I won’t get into today), so I refuse to believe people are as consumed by the election as the media makes it seem. After all it’s literally media’s job to make every election feel monumental, so you consume their content.
Humans naturally tend to think their own time in history is the most pivotal ever, and that’s okay. When it comes to the markets, though, I agree with Bitcoin: let’s just get it over with and move forward.
The biggest winner of this election outside of Bitcoin will continue to be ‘degeneracy’.
Though I have no idea who will be our next President, Robinhood made it very easy to bet on the election…so I did.
wow wow wow
i’ve never traded futures directly and @RobinhoodApp made it simple which makes me a tad nervous
I faded the Fat Nixon momentum as my first futures trade.
Betting markets will never be same.
This is THE DEGENERATE ECONOMY
— Coronado ‘Porch’ Lindzon (@howardlindzon)
3:28 PM • Oct 31, 2024
When it comes to stocks and markets I like to bet with the direction of the trend, but when it comes to betting on an event, I decided to bet against the momentum.
Post election, I imagine Robinhood uses their futures brokerage to offer up 10-20 prop bets a month on big games and events. I will not be able to resist participating. This will be very profitable for Robinhood.
In a world of stocks and markets and zero dated options, DraftKings, Coinbase and Pump.fun (Memecoins), Robinhood is in the best position to dominate mindshare and wallet share of this degenerate economy.
I NEVER saw this economy/world when we made a seed investment in Robinhood back in 2014. Even though I was 48 years old and thought Robinhood would be a massive hit if they could just deliver free trading to the masses, I had rarely used options, had never traded/used futures and had not placed a bet on my mobile phone.
Lucky me!
Luck won’t help you much though if you trade options, futures and place prop bets all day every day.
The language of the degenerate economy is the markets. The sooner people learn it – by participating, studying behavior and risk management – the better.
Have a great Saturday.
