Chris

[Chris @squints_winked]

@CoreyWriting Your city sucks and this is just another example of why the city of Chicago, its policies, and its delusion gets what it deserves.

[Chris @squints_winked]

@TedPillows I don’t understand posts like this. You can’t be serious, right?

[Chris @squints_winked]

@TVietor08 Not to make this about politics but a deep blue city like Chicago that continually votes for ridiculous policies that makes building and zoning impossible reap the reward for their stupidity. That’s it. You should really do better with who you elect and the policies you want.

[Chris @squints_winked]

@WillSommers2 Kansas City is actually in Missouri. Chicago is not in Indiana.

[Chris @squints_winked]

@bashiramd @Investanswers @kyledoops GTFO…James is not the guy to go after. He is one of the most pure dudes here who dies for everyone out there. Take responsibility for your decisions. Even things James was analyzing he had tiny bags in. He is rarely wrong if you know where he is actually investing.

[Chris @squints_winked]

@benjamincowen @0xresurekt I love salty Ben :)

[Chris @squints_winked]

@monster_models @metaronin @saylor Replying here for anyone following the thread. In less than a week someone who invested $1k to earn 11% are down to $930 if you try to sell today. This thing can and will depeg lower and the world doesn’t have to completely fall a part to do it.

[Chris @squints_winked]

@BuckyMcChubbins

[Chris @squints_winked]

@4TaxFairness @SenRubenGallego To be honest, this shouldn’t be that controversial but way more people than just billionaires do this. I have a neighbor who anytime he wants something big takes out a HELOC. Basically the same thing so the question is what will the net worth limits be on this.

[Chris @squints_winked]

@qthomp 💯

[Quinn Thompson @qthomp]

STRC is now approaching one of the worst drawdowns since its launch. The majority of times it traded this low (albeit small sample size) required 50 bps dividend rate increases instead of the usual 25 bps.

It's my view that Strategy will and probably should raise the dividend rate enough to bring STRC back to par. Choosing to let a $10B tranche of preferred equity (now ~1/6th of its total capital structure) go the gulag would send a negative signal to the markets and Saylor would suffer a huge loss of credibility.

The problem is that their debt and preferred equity service burden is approaching a ~5% annual dilution pressure on MSTR. It's really been a strange few months of corporate finance decision making all around. I would imagine most of management and key stakeholders are aligned most with the MSTR price, which started its freefall descent almost to the day STRC was launched - a decidedly negative development for common shareholders since its inception. Which again begs the question - why? It also hasn't helped BTC which is also almost -50% lower since then. So every stakeholder involved is now at a severe loss.

Why? Who did any of this benefit? In normal times, at normal corporations, there would be severe, likely job costing, and often times worse, ramifications for this level of capital destruction and corporate neglect and malfeasance.

[Adam Livingston @AdamBLiv]

If Strategy sells MSTR to pay the dividend, it's a ponzi.

If Strategy sells Bitcoin to pay the dividend, it's a death spiral.

If Strategy sells STRC to buy Bitcoin, the common stockholders are being "diluted".

If Strategy uses the USD reserve to pay off the debt, it's a "fatal error".

At some point you have to realize the bear thesis has become a Choose Your Own Adventure book for people who hate the ending.

[Chris @squints_winked]

@zeroXhope He can do a lot of financial ju jitsu to not get liquidated. The bigger problem is he is the key source of liquidity in the market and if he stops buying trouble is brewing. I am also convinced that STRC is going to depeg at some point and people will freak out.

[Chris @squints_winked]

@DeweyKin @EricSpracklen Buying a home has closing costs and selling a home has closings costs. I bought a house that appreciated 10% from 2015 to 2019. When I sold it I basically broke even because of costs plus repairs. Sure I got a little bit back in tax savings but owning isn’t always a dream

[Chris @squints_winked]

@Vivek4real_

[Chris @squints_winked]

@martypartymusic

[Chris @squints_winked]

@_6signxxx Let’s give it a few years. I suspect the “fixing”
Is just a big deficit that he needs to fill later. Also…he got a MASSIVE bailout to make this all happen. Let’s not pretend he is a wizard.

[Chris @squints_winked]

@benjamincowen @martypartymusic Arguing with Marty is like arguing with a moderately retarded person that has tourette’s. He never stops talking and usually says he knew exactly what would happen the whole time. It isn’t worth your breath.

[Chris @squints_winked]

@monster_models @metaronin @saylor 👍

[Chris @squints_winked]

@monster_models @metaronin @saylor The difference is stocks have an underlying cash flow and might experience a correction, this can depeg to zero. We both have very different perspectives on how risky this is. That’s cool. I am not willing to lose my capital for an extra few % in yield. Sounds like you are.