Dear Reader,
I saw an article about Amazon forcing all its employees back to work, and I thought to myself, “good. It’s about time.”
— Biotech Trade Alert —
NVIDIA buys 7 million shares of AI-biotech.
There’s an AI biotech selling for under $10 a share that seems poised to soar in 2024…
ARK Investment recently bought 6.8 million shares…
Bayer just signed a deal worth as much as $1.5 billion to have them develop new drugs…
And NVIDIA has just partnered with them.
Get the name of the stock here.
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I thought back to when I started working on Wall Street.
You have to remember, I grew up poor – welfare, food stamps, single mom. We were really tight for money.
My mom worked during the day and went to school at night, so I was always taught the value of hard work.
I remember when I got my first job on Wall Street…
I had a couple pairs of nice pants, a few shirts. I had shoes that had a hole in the bottom and the sole was starting to pop off.
The first opportunity I got was to work with a guy who was worth a whole bunch of money – a real legend on Wall Street.
That was before I went into analysis and then sales and then owned my own firm.
Those early days I used to get into the office before sunup, and I’d talk to everybody I could– especially the elders that had all this experience.
I mean, I would go up to anyone who was in early and ask a million questions – about the markets, about their history.
I learned so much from those old timers. To me, that was my way out of being broke.
So I’d get to work early when it was still dark outside, and I’d leave at night when it was dark again.
I was burning for success.
Maybe it was fear of being as broke as I was growing up.
I was so tight for money – they paid us a pittance, of course – I took the trains to work, and I remember every two days I’d save $1.25 and I would have enough every other day to buy either a pretzel at the pretzel stand or a hot dog – what we’d call in New York “a dirty water dog.”
And I would eat that. That was the food that I could afford.
The days when I didn’t have that money what I would do was in the lunchroom at the firm they’d have this Cup O’ Noodles soup and I’d go there and that was my lunch.
I couldn’t afford to buy lunch. I was really broke living in New York. It was really tight.
But I knew that my path forward was through learning everything I could learn with those people that I worked with.
And you don’t get that same kind of situation in a remote work environment. You just don’t.
You have to be at the office to talk to the elders – to pick their brains.
Even little conversations down a hallway have enlightened me – changed the way I think about certain things.
I mean, my goodness, having the opportunity to pick the brains of the elders at the first firm I worked for – I mean, it set me on the path. They taught me lessons I still use to this day.
I remember one lesson from an old-timer Mickey – he was a very, very old guy (I mean, I was 19 or 20 – he seemed very old to me)…
He started on Wall Street 50 or 60 years before I started.
He said that back then ticker tapes were still being used and he said, whenever there was a market crash, you know how you could tell the bottom was near?
You’d see a bunch of old people walking around with canes. They would go to their brokers – come down to Wall Street to place their buy orders.
And that’s how you knew the bear market was almost over.
Because all the old people with canes walking over to their brokerage firms had the experience. They knew.
That’s the great gift of getting older – you have this experience. And I actually understand that now.
I’m not an elderly person yet – God-willing I get to be – but I understand now what people like Mickey told me…
What other friends like Mark taught me about trading.
About how Wall Street can manipulate things.
About how if anybody puts a research report out you have to see if that bank has any ties or is trying win investment banking business.
If someone puts out a buy report on a company you’ve got to look deep – to see if they own the stock or if they’re shorting the stock. Maybe they’re just trying to get people to buy it to get one of their big clients out of a large position.
These are conversations that happened walking down hallways.
I got to learn the game from people who had been playing it for decades.
And that really changed my life. It was a great gift.
So I am happy to learn that Amazon is ending this work from home nonsense.
I think that for any young, enterprising, ambitious person this is a great opportunity.
They used to say about me, “Oh, Dylan, he’ll just stick a straw in your brain, suck out all the knowledge he wants and go to the next one.”
That was the reputation I got as someone who wanted to learn so bad that I would just listen to all kinds of crazy stories and filter them through, many of which I only understood as I got older, years later.
And I LOVE being able to pass along this information, this wisdom I gained from people who are no longer on this earth.
I love being able to share their experience with you.
The “bear market playbook” I’ve developed over a lifetime started with Mickey. And it culminated in my new book and documentary, Midnight in America.
Sharing this with you is my joy in life and I’m grateful.
If you haven’t seen it, watch Midnight in America and please, let me know what you think.
I’ve made most of my wealth in life from calling bear markets, preparing for them, and then loading up on great stocks at the bottom.
I wish that for you and your family.
Thanks, Mickey.
“The Buck Stops Here,”
P.S. I wrote this for my children. But I want to share it with my Members, too.
Because $10,000 taken before the market crash and invested after the crash could turn into $100,000.
That $100,000 into the next crash could become $1 million…
You could take that $1 million and turn it into $5 million.
