I've been relentlessly calling out the grifter @ericjackson. He has led the $OPEN army to slaughter.
The $OPEN army has been routed. Destroyed. Obliterated. The casualties have been enormous.
If only someone had sounded the alarm ;)
The profanity, the ad hominem attacks, the hate - that has been the response of the $OPEN army since September when I first called BS on @ericjackson.
The haters have not attempted to justify the valuation. Because they can't.
They have not attempted to make a fundamental case based on numbers. Because they can't.
They have not attempted to understand the limitations of GAAP accounting and why it must be used with care in analyzing $OPEN. Because they won't.
They have not attempted to understand that $OPEN was valued at 8x book value and 25x revenues. Because they could not handle the truth.
Instead they cling to the narrative of 83, then 500. They want to pretend that this is 2021 and $OPEN will do an $AMC or $GME. They worship at the altar of narrative, not fundamentals.
Peter Lynch would not approve.
I tried to help you.
I tried to warn you.
I come here not to praise the odious charlatan @ericjackson, but to bury him.
I will not relent.
This is much bigger than Jackson.
He epitomizes everything that is wrong with markets.
A financially illiterate, unscrupulous charlatan promoting an endless stream of wildly speculative garbage - $OPEN $SRXH $BETR $ABTC $NXDR $BTQ $DEFT $HUT $CIFR $IREN $BRR $SANA
Eric is financially illiterate, unethical, irresponsible, and dishonest.
History will not be kind to him.
Eric, have you no shame?
Have you no decency?
Have you no honor?
Have you no basic knowledge of finance?
I call on all people of good conscience to rise up and just say no to all the grifters and charlatans. You know the names: @CathieDWood @APompliano @dilipsinh_barad among many others.
The media and podcast world is complicit in all of this as they continue to aid and abet these clowns:
@andrewrsorkin @gnoble79 @saraeisen @SullyCNBC @ScottWapnerCNBC @carlquintanilla @cnbcfastmoney @HalftimeReport @SamofAmerica @guyadami @tomkeene @business @ferrotv @lisaabramowicz1 @natbrunell @philrosenn @APompliano @cvpayne @Downtown @baystreetamber @FoxBusiness @JonErlichman @twistartups @CNBC @TheCompoundNews @podcasts @davidlin_TV @YahooFinance @juleshyman @opinion @TheStalwart @brewmarkets @THERUNDOWN
The feckless @SECGov has abdicated its responsibility. We must band together to put an end to this nonsense. We must try to restore integrity to markets. There is so much work to be done, but let's start NOW.
@DougKass and I have had ENOUGH. We will not relent.
This post is not about @ericjackson. Mr. Market is punishing him. Eric Jackson will fall into irrelevancy.
This is about living in your integrity.
DO SOMETHING ONLY BECAUSE IT IS THE RIGHT THING TO DO, NOT JUST BECAUSE YOU CAN GET AWAY WITH IT.
Finally, this work of art is priceless. This is about the best rebuttal the haters can offer. That should tell you all you need to know about the $OPEN army.
PS - Rabois has aided and abetted the $OPEN pump with his documented lies.
