Have you guys seen the company's stock price chart? It only dropped 6 bucks from 17 to 11 after the CNBC expose. But it dropped from almost 40 when Bitcoin topped in December to the same 11 bucks WITHOUT CNBC. CNBC comes in, CNBC goes out, price is still falling, you can't explain that.
Word is gartman is suffering from dementia and this proves it. He's at that age when the brain cells atrophy and the first sign is doing the opposite of what you say you'll do. He'll probable announce his retirement soon. I averaged down to 10 on Riot from 45. Didn't everyone?
Don't attribute bad judgement to age when there's a simpler explanation. Many famous fund managers (Greenlight / Ackman's Fund) barely had a positive return or negative return in 2017 when S&P was up over 20%. https://seekingalpha.com/article/4137793-greenlight-capitals-david-einhorn-q4-2017-letter https://www.bloomberg.com/news/arti...square-s-total-assets-fell-20-percent-in-2017 Making money is difficult. Getting a return on a lot of money is even more difficult. He might not actually be worse than the average fund manager. Not sure, I don't follow him.
I have far more respect for Dennis Garman who willingly discloses losing positions and isn't afraid to change his mind, despite the critics, than 99% of people on twitter, blogs and forums who somehow always nail tops and bottoms and claim to make huge money
1. He said they took a hit but we don't know his cost basis for the position. He might still be up. 2. He never said he was changing his mind. He is a crypto bull. Also he was talking his book, basically trying to convince you and me to get on board and push the price up.
1. No he did disclose it was a loss https://www.zerohedge.com/news/2018-02-20/gartman-blows-riot-blockchain "adding to positions that have gone badly against us" 2. He is known for 'flip flopping' which is a trait that people like Paul Tudor Jones actually praise. Anyone that makes money trading for a living (so ZH and idiots on the internet don't count) would agree.