prolly nothing...
https://www.cnbc.com/2022/03/03/bil...tocks-and-is-a-small-investor-in-bitcoin.html
Bill Gross says he’s trading meme stocks and is a small investor in bitcoin
PUBLISHED THU, MAR 3 20228:49 AM ESTUPDATED THU, MAR 3 20228:54 AM EST
Yun Li@YUNLI626
Bill Gross
Kevin Flynn | CNBC
Longtime investor Bill Gross said Thursday he’s still trading meme stocks for quick profits, and he’s also dabbling in cryptocurrencies even though he believes they are in a bubble.
“I am still trading GameStop and AMC. These are lottery-ticket stocks,” the 77-year-old investor said Thursday in a wide-ranging interview with Brian Sullivan.
“The volatility on these options that I’m dealing with is so high that if you sell the options out of the money, which take GameStop around $120. Now, I’m selling four-month calls at $200 and capturing $12 or $13 per option of because the volatility’s like 120%,” Gross added.
The trading mania in GameStop and AMC shocked Wall Street in 2021 as a band of retail investors piled into those stocks and call options, causing massive short squeezes that burned many short-selling hedge funds.
As for cryptocurrencies, another asset class widely viewed as speculative, Gross said overall they are in a bubble, but he’s trying to pick out the winners.
“I simply think that you know, the crypto coins are a bubble. I do think there are survivors,” Gross said. “I do think we need an alternative to the dollar as we’ve seen in the last week or two and that you know, there will be several survivors and I’m invested to a small extent in bitcoin.”
Cryptocurrencies have become a prominent feature of the war between Russia and Ukraine. The Ukrainian government has raised $35 million through more than 35,000 cryptoasset donations since the start of the Russian invasion.
The co-founder of fixed-income giant Pimco also said he doesn’t believe in the hype in NFTs, or nonfungible tokens.
“The phenomena of NFTs is the same way and reminds me of when my kids were collecting Beanie Babies,” Gross said.
https://www.cnbc.com/2022/03/03/bil...tocks-and-is-a-small-investor-in-bitcoin.html
Bill Gross says he’s trading meme stocks and is a small investor in bitcoin
PUBLISHED THU, MAR 3 20228:49 AM ESTUPDATED THU, MAR 3 20228:54 AM EST
Yun Li@YUNLI626
Bill Gross
Kevin Flynn | CNBC
Longtime investor Bill Gross said Thursday he’s still trading meme stocks for quick profits, and he’s also dabbling in cryptocurrencies even though he believes they are in a bubble.
“I am still trading GameStop and AMC. These are lottery-ticket stocks,” the 77-year-old investor said Thursday in a wide-ranging interview with Brian Sullivan.
“The volatility on these options that I’m dealing with is so high that if you sell the options out of the money, which take GameStop around $120. Now, I’m selling four-month calls at $200 and capturing $12 or $13 per option of because the volatility’s like 120%,” Gross added.
The trading mania in GameStop and AMC shocked Wall Street in 2021 as a band of retail investors piled into those stocks and call options, causing massive short squeezes that burned many short-selling hedge funds.
As for cryptocurrencies, another asset class widely viewed as speculative, Gross said overall they are in a bubble, but he’s trying to pick out the winners.
“I simply think that you know, the crypto coins are a bubble. I do think there are survivors,” Gross said. “I do think we need an alternative to the dollar as we’ve seen in the last week or two and that you know, there will be several survivors and I’m invested to a small extent in bitcoin.”
Cryptocurrencies have become a prominent feature of the war between Russia and Ukraine. The Ukrainian government has raised $35 million through more than 35,000 cryptoasset donations since the start of the Russian invasion.
The co-founder of fixed-income giant Pimco also said he doesn’t believe in the hype in NFTs, or nonfungible tokens.
“The phenomena of NFTs is the same way and reminds me of when my kids were collecting Beanie Babies,” Gross said.
