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The Media and the LYFT Pump-and-Dump

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Transcript:

Welcome to another Friday fireside chatnot in front of the fire, in front of the whiteboard,but I want to do the whiteboard'cause I want to map out pretty much the whole talking pointthat I want to go over, and that isessentially the media does think you're an idiot.I don't mean that in a political sense.I'm not talking aboutwhether you consider somebody a liberal media source,or a conservative media source or somebody right.They all think we're absolute idiots,and a week ago today we had a perfect example of thatwith the Lyft pump and dump, I mean the Lyft IPO.So what do I mean the media thinks we're idiots?Well, the media is really good at not really lyingbut taking a truth and then twisting it.So what do I mean?Well there's two things out there.We have what I'll just call textbook knowledge, theory.So I mean, yeah, that is true,from a textbook perspective it's accurate.And then you have real world meaning,okay, but how do things actually play out in the real world?How do things play out in more of a practical setting?And sometimes, as you're about to see here,that translation is not, it's not very smooth.And what do I mean by that?Well Lyft had, L-Y-F-T, like a said a week ago today,assuming you're watching this video when it's released,so ticker symbol L-Y-F-T had their IPO.And again, from the textbook perspective,the IPO and all that, it opened up, it was pricedat $72.Again, textbookwise, the IPO price, $72.But, where the price actually opened up was,let's change the colors, all the way up here,give or take, right around, we'll call it $85.Now, it was higher than that slightly,but this illustrates the point.So that's where it actually opened up.And then from there, this happened.And if you were watching Lyft when it,you know where I'm gonna go with thisif you were watching it trade,but it was up around this general areaand literally straight down it went.And it went down and down and down.In fact, I'm gonna put a screenshot up on the screen.So right now you're looking at,I usually don't use line charts,but that's not an error,that line that's going literally straight downis what Lyft has donesince that's basically going public.So the question now becomes,well, you just saw how nasty it got.But then it's always curious to see,well, what exactly is going onfrom that perspectivein terms of, well, what is the media sayingabout all of this when it's going down?Now you see on the screen, from CNBC, Lyft up 20%.Now, now, that's not wrong because,from a textbook perspective, yes,from where the IPO price was, it was up 20%,so they're not lying from a textbook perspective.It was up that amount.But, let's transition to the real world perspectivemeaning to you, to me, to normal people as traders.How am I defining normal?Basically anybody that wasn't an insider,that wasn't an investment banker,that wasn't some sort of early investor into the company.Any of those people, this textbook definition would apply.For them, it was up 20% from,for some of them even more that that.But, for anybody outside of that AKA the normal people,this thing was never up 20%.You, myself, none of us had an opportunity at allto ever make 20%.Yet, you saw that headline.There's the media trying to proclaim that,literally, when this price action was going up,when the price was dumping and dumping and dumping,you could have gone onto CNBCand maybe you saw that exact same headline,hey hey, 20% up, hey, and everybody's all excitedand saying that it's 20% up.That is true, again textbook, but real worldwise,no, people are getting absolutely slaughtered.Anybody that bought it,after it opened up to us normal people,got absolutely slaughteredand, as of the recording of this video,they are still getting slaughtered.In fact, it's down even,and finally it eventually dropped below 72.I don't know where it is right now, but I know for surethat, at one point, it went even down below 70.So now, at that point, the news media can't even saythat it's up from a textbook perspective.But do you see how, it's not a lie,but it's also very deceiving?And this brings it full circle.This is why knowledge is power.This is why, if you want to get into the market,you can't rely on the headlines,you can't rely on what other people are telling you,you can't rely on social media.You have to rely on, yes, textbook stuff, that is important,don't get me wrong, you have to relyon the theory of things.That is important.But you also have to know,well, how does that apply in the real world though?Because there is definitely a difference,and this Lyft IPO illustrates exactly that.It was a glorified pump and dump.And, while this pump and dump was going on,to see the media,it basically leaves you speechless to say,really, you're a financial network,you know a lot of traders follow you,do you think that, and I don't know, I guess my question,did you look at 20% and say, oh wow, Lyft's up 20%?Were you thinking, what are you talking about, up 20%?People are getting slaughtered,this thing's been getting hammered all day long,what are you talking about 20%?Because that would tell methat you will have a good understandingbetween textbook and real world information.So just remember, if you're playing,and this doesn't even pertain to tradingor financial markets, but just life in general,if you depend on the news media,if you depend on the mainstream media,if you depend on external forces to try to tell youand inform you on things, like I said,I'm not saying they are lying to you, but what I'm sayingis there is always that difference wherewhat they're saying could be true,maybe it is true in one sense,but in more of the real world, practical sense,it's totally not what's going on at all.So just keep that in mind,and I don't know, did you trade Lyft?Were you part of that, did you see the carnagethat unfolded while it was absolutely getting hammeredthat the news media was proclaiming it was up 20%?Crazy, crazy stuff, but, if anything,please don't let the media play you like a little puppet.If you are out there trading alone currentlyand maybe are in the market looking for a community to jointo assist you in your trading, or to just help you,give you another set of eyeballs,then I do have a private trading communitywhere you can trade alongside meand other experienced traders.So, what you see popping up on the screen right nowis both an information link,so if you click on the inner circle one,that is going to take you to the pagewhere I explain all the details of what exactly comewith the community, both the chatroom and the newsletter.And then the other image that has popped upis a behind the scenes tour where you can see exactlywhat is going to be contained within the community.I take you through, like I said, a behind the scenes tourof everything, and that way you'll knowprecisely what you are getting when you join.So, definitely check that stuff out, if you are interestedand thinking about wanting to join a community,and let me know if you have any questions.

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