A simple technique:
After spending half an hour on WhatsApp with a mining pal who, for some reason, still prefers to waste hours of his day on Twitter instead of enjoying life, I’d like to offer some advice to those of you still addicted to mining fintwit. The best advice would be to do like I did, leave Twitter and delete your account once and for all, but as that would traumatize most of you too much let’s go for the babysteps approach:
- Go through your feed, noting the names of anyone who’s been talking up Gatos Silver (GATO) as “cheap”, “oversold”, a “speculative buy”, a “good risk/reward opportunity” or any other variety of speech that made it sound like a reasonable trade in the last day and a half, i.e. since the stock fell off its cliff. Note that we’re talking about people who saw the drop and then started talking up the stock as a potential trade, not anyone unlucky enough to be caught long by the news from the unholy criminals running the company.
- Once you have your list of people who now think GATO is a buy, block them, or mute them, put them on ignore, or whatever you have to do these days to remove them from your timeline permanently. Anyone who spends their day talking about mining stocks that thought GATO a buy/spec buy/cheap/whatever doesn’t know what they are talking about. And that’s not a figure of speech, those people literally do not have a clue.
- Your timeline may lose quantity, but its quality will improve immensely.
Would you buy a car from a salesperson who knows nothing about cars? Would you eat at a restaurant where nobody knows how to cook? Pay money to listen to an orchestra whose members don’t know how to play their instruments? Anyone on social media calling buy on GATO in the last day and a half simply does not understand what equity is and, as that’s exactly the thing you get when buying shares in a company, they are in essence telling you to do something from sheer ignorance. They don’t understand company financials, it’s that simple.