Chris Sacca.
Steve Jennings.
Chris Sacca, a billionaire investor, has cheered on meme-stock buyers, warned rookies about the dangers of debt, and trumpeted non-fungible token (NFTs) in a year's time.
The Lowercase Capital founder and former "Shark Tank" star, who shifted his focus to tackling climate change and social-justice issues in 2017, also reflected on his ill-fated day trading as a college student, and revealed he owns a variety of digital token.
Sacca's 12 best tweets about stock markets over the past year.
1. I have a hard truth for everyone who got into trading stocks this year: you're not that good at it. You caught a bull market. Take some money out of the table. December 23, 2020
2. The angry bros who got into trading stocks this year, I was wrong. You're amazing. This has nothing to do with the market. It's all you and your skillz. Don't take profits off the table. On the margin. You should borrow everything you can. "Stocks never go down!" was the reply to the backlash from day traders. December 24, 2020
3. What percentage of retail ownership of cryptocurrencies is supported by leverage? What about the stock market? I'm not worried about the debt lessons that a generation of app traders weren't around to learn. December 26, 2020
4. It's fun to read about home traders. I was one of you 20 years ago. I know I did that, so I'm here to tell you: don't trade with money you don't own. I took out student loans, YOLO gave them $12m, and then I woke up with $4m in debt. January 28, 2021.
5. When the price collapses, debt has no fucks to give. When the music stops, debt doesn't care who gets the last chair. Debt is haunts, linger, and bind. Two weeks later, debt sees the all-red screen that you never post and doesn't care about your green paper gainz screenshot. January 28, 2021.
6. I like to hear about real people stacking chips, and I have axes to grind against a lot of the guys you're destroying. Please, please, please, from someone who has been there, and knows what it's like to be depressed, don't trade what you can't afford to lose. January 28, 2021.
7. I understand what's happening with NFTs. I am a collector and this is cool. Sacca said that he doesn't believe NFTs are in a bubble. February 21, 2021.
8. Wow, a work of purely digital work is worth 69 million dollars. Don't look away from this, no matter how you feel about NFTs. It's okay to not understand why someone would pay that, and it's okay to be upset about the climate impact. Don't be ignorant about what's happening.
9. You should only invest what you can lose. Don't borrow. It should be spread around multiple investments. If you get back more than you put in, you will be pleasantly surprised. Good luck.
10. The climate impact makes me feel bad, but that is the market incentive for a lot of clean energy innovation, it's exciting, and I have a lot more to learn. I own a broad basket that includes early BTC/ETH to shit coin lottery tickets.
11. It would've been impossible for Stanford to accept the likes of me. Those were student loans from Georgetown Law. I lost my face in the end. Seven figures in debt with no one to show for it. He recalled how he traded on margin as a college student. September 20, 2021.
12. I got a lot of shit for this. It's not fun to be wrong. I have been in this market for a long time and have taken it easy. I tried to help people not trade with money they don't own. My inbox is filling up with requests to bail strangers out of margin debt. December 3, 2021.
Business Insider has an original article.
