Bakes' Takes 1/23/21--1) Bitcoin-$500k? 2) SPAC Mania 3) Facebook breakup

Stock Market Authority - A podcast by Kevin Baker

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Bakes’ Takes Podcast Show Notes Saturday January 23, 2021   :27 1) Bitcoin-$500,000? 2) SPAC mania 3) FB breakup   :47 Why I do this—Bobby, Jack, discuss money and markets with my sons, please listen in.   2:07 Not investment advice. Please conduct, and share, your own due diligence.   Bakes’ Take—Fan Mail! Calls! Questions! Mike!   2:45 Jack—What are SPAC’s?   3:13 Why so popular?   Long Term Outlook? 5:42 Depends on sponsor, their incentives, skin in game 6:18 Chamath/SOFI https://www.youtube.com/watch?v=I2qsvAgWnI8 6:40 Full disclosure, I have not studied financials, so investigate EBITDA multiples etc. I like Chamath, good reputation, agree with SOFI’s disrupting position 7:11 Nikola/NKLA fiasco, fumes 7:40 Bakes’ Take—study sponsor, their incentives, first, then wait for deal, examine numbers, invest if you like even after pop 8:00 Anonymous—FFEGX 2030, FFIZX 2040 9:29 Bakes’ Take-Great approach, stay the course, tax-deferred, max company match, like int’l exposure, decrease risk as 2030, 2040 approaches, add Bakes’ Takes on top 10:10 John—Facebook/FB 10:35 1/14/21 broke 200 dma 245.64 on 66% above avg volume, not huge but worrying, normally would sell 1/3, lock in big gain, will go through rest of email, then address how to sell stocks approximately $56B in cash--$19.53/share, $274.50-19.53=254.97/10.48 ‘21=24.3 P/E. agree ok 11b LTD roughly equals FCF, agree ok 25% growth 12:43 Who’s incremental buyer?—1.42 short ratio, 79.77% institutional ownership https://nymag.com/intelligencer/2020/12/scott-galloway-on-ftc-antitrust-lawsuit-against-facebook.html   13:28 Scott Galloway thinks stock goes up if broken up, WhatsApp would already be making Zoom miserable etc. if not inside FB. 14:46 Bakes’ Take—Valuation ok, advertisers love them, many others hate them, breakup assumed? Sum of parts likely greater, IG, WhatsApp, hold for now, break of 250 on big volume, problem 16:00 How to SELL stocks $111 close below $117 200 dma, $19 low -82%, $71 still down -36% John, Tim Ferriss, hope this helps Bakes’ Takes—My Themes/Groups   18:20 The Grayscale Bitcoin Trust (GBTC ), the vehicle I use, has risen from the buy point of $15 or so in October of last year to $48, up 220%, in three months. The pull back to this level is a 1/3 retracement, very standard. Taking profits in a new tax year makes a great deal of sense. Yellen noise. Many skeptics call this a bubble. I disagree.   19:35 My guess is we stop at around the 50-dma and support at $27. 59, if we get there.   19:50 Another thing to consider--Michael Saylor, CEO of MicroStrategy, who famously invested half a billion dollars of corporate treasury cash in bitcoin, is teaching a course to his peers February 3-4. I will be astonished If that doesn’t generate a wave of fresh buying.   https://www.linkedin.com/feed/update/urn:li:activity:6755884801271582720/   20:30 URNM (Uranium)-40%+, 73%+ yoy   COPX-10%+, 65%+ yoy   21:15 Bakes’ Take— Bitcoin, uranium, cannabis, gaming and esports, copper, ag. Inflation will be an issue. Silver?                            Bakes’ Take—Podcasts of the Week!   https://www.businesscasual.fm/bitcoin-to-500000-the-winklevoss-twins-think-so/ 22:25 Kinsey Grant, Winkelvii--$9T Gold/21M bitcoins=$428 mil, round up, checking out Gemini card, bitcoin rewards, beats airline miles   https://www.businesscasual.fm/should-you-invest-in-bitcoin/ 24:25 Pomp, last 3 minutes   https://tim.blog/2021/01/19/the-random-show-bitcoin-pros-and-cons-2021-resolutions-fave-books-lucid-dreaming-couples-therapy/ 24:49 Kevin Rose, 29 minutes, Tether, “shit show for a few days” for Bitcoin   26:24 Bakes’ Take—Reporters of the Week!   27:00 Bakes’ Take—Bitcoin down this week on regulation concerns, doubt it lasts, buyers lining up   Bakes’ Take—Charts/Tweets of the Week!   27:09 Jim Bianco, Copper, other industrial commodities going north   Bakes’ Takes--Newsletters of the Week   28:00 Bear Traps Report   John—FB #3, 4.26% of the QQQ’s, bearish RSI divergence   Murph—rene