*

Big gains in the most heavily shorted stocks like Game Stop.



*

Robinhood traders buying Game Stop think they’re smarter than the hedge funds shorting it. 



*

Markets can stay irrational longer than you can stay solvent.



*

In the short-run, stocks are a voting machine. In the long-run, stocks are a weighing machine.



*

Price is what you pay. Value is what you get.



*

When it comes to bubbles, the markets first bankrupt everyone who bet against them, and then bankrupts everyone who bet on them.



*

Premium for Grayscale Bitcoin Trust is collapsing along with the demand.



*

If you’re at the poker table and you don’t know who the patsy is, it’s you.





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