YouSaid · the spoken record

Jeff Walton

lines on the record: 57
first: 2024-03-27
most recent: 2024-03-27
sittings or episodes: 1
sources: podcast

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“It made people think what is this company actually worth? And you start to zoom out, right? And you're looking at a market cap of, I don't know what it was at, but like 30 billion or something like that. And you start to look at over the weekend, I was totally ruined a vacation when my wife is still over one for that. But over the weekend, I was looking at what their assets were. I was trying to value the company, almost doing the opposite of what I've done in this micro strategy trade. And, you know, starting to realize that there were other players in the game like these large hedge funds. I don't know who they were, but I did, I was watching the order book and the blocks of trades that were occurring in the order book over time were 20,000 shares, 50,000 shares. And that's not retail. Retail moves two, three, four, five shares here and there, not 50,000 shares.”
2024-03-27 · We Study Billionaires · BTC175: MicroStrategy Deep Dive w/ Jeff Walton (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“The GameStop trade was incredibly interesting. So I was following it go from 20 to 30 to 40 to 70 in a week. I purchased put options on a Friday. I realized I was screwed over the weekend. I sold the put options for a profit on Monday morning and liquidated my entire portfolio and I bought Spot GameStop shares on Monday morning. And then kind of rode that way from 70 bucks all the way up to 300 or whatever that happened on a Wednesday or Thursday. Robin Hood turned the buy button off on Thursday. And that was, I will never forget this. I still had free capital. I think I just got my bonus or something. And I wanted to double down. I was like, I'm buying today. I'm buying more of this phenomenon still exists. And I realized I couldn't buy anymore. And I could only sell. And at that point, sentiment had kind of, in my mind, had kind of been broken.”
2024-03-27 · We Study Billionaires · BTC175: MicroStrategy Deep Dive w/ Jeff Walton (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I'm curious Definitely not. I'm certainly not a trader. I was a trader for the GameStop play because that was a dynamic that I was seeing in the market that it felt like wasn't going to break. And I felt like I was at the front end of it. And I went through that whole process. And I had to think through the game theory associated with the GameStop trade. And the game theory associated with that was that there were more players in the game than just retail. Retail was not moving the trade. Retail compressed the trade, but there were also large hedge funds in the trade that were burying Citadel and Melvin Capital. And knowing that there were other players in the game. Influence how I made decisions.”
2024-03-27 · We Study Billionaires · BTC175: MicroStrategy Deep Dive w/ Jeff Walton (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Given me a unique perspective on how the stock market works and how all of the capital I think that's why I might have a different perspective or a unique perspective compared to other people because I'm seeing the big money moves from the top down and looking at it almost like a chessboard. Opposed to being from the bottom up, looking at trying to understand what's going on.”
2024-03-27 · We Study Billionaires · BTC175: MicroStrategy Deep Dive w/ Jeff Walton (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I am a reinsurance broker, so I sell insurance to insurance companies. And so what that effectively does is it diversifies whether risk and insurance risk across the globe. So we take tranches of weather risk from large insurance companies and diversify those. So we'll have anywhere from 10 to 50 reinsurers on any one individual restranch, and we're outselling those to individual reinsurers across the globe. Okay, a unique perspective on how big money kind of moves, really, because it's insurance for insurance companies. And the reinsurance market is highly dependent on current rate environment, opportunity cost of capital. There's different types of insurance and reinsurance to allocate to different locations, different regions. And so that understanding of the insurance market and the reinsurance market and how insurance and reinsurance market cycles work has”
2024-03-27 · We Study Billionaires · BTC175: MicroStrategy Deep Dive w/ Jeff Walton (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, absolutely. I think that's a fabulous context. I had a similar situation where I purchased micro strategy for the first time in 2021, except I was at the very peak. I bought it at the very peak. So I kind of rode the GameStop wave. I made a crazy investment decision where I liquidated my entire portfolio. I bought GameStop shares. I rode that wave to the top, exited when sentiment broke, and ended up having to figure out where to put that money over the next couple of weeks after that. So part of it was in Bitcoin. I was still in that period where I was trading Bitcoin and I didn't really understand what it was. And, you know, there was a lot of volatility. I didn't really know what was going on, but I was also fascinated by the fact that there was a company that moved 100% of their cash assets over to Bitcoin. I was like, wow, this is incredible. What's going on? I've never seen anybody do this before. This is just so strange.”
2024-03-27 · We Study Billionaires · BTC175: MicroStrategy Deep Dive w/ Jeff Walton (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Welcome to the show. Thank you. Thank you. Thanks for having me. Yeah, excited to be here. Excited to share some game theory, some analysis, and a little bit of off-the-wall thinking.”
2024-03-27 · We Study Billionaires · BTC175: MicroStrategy Deep Dive w/ Jeff Walton (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT