ARB Letter- Deal Sleds and NFTs
004 - Deal Sled Giveaway and NFTs
EXOTIC MARKET INTELLIGENCE.
Friday - August 27th 2021
EXOTIC MARKETS
S&P 500 has managed to hold near all-time highs this week despite signs of volatility on the horizon - futures moved higher Thursday night after closing lower during the regular trading day amid Afghanistan plight and Fed Friday meeting
A NFT of a rock sold for $1.3M in ETH this week
Boomers are mad af the worlds changing fast “That’s how Wall Street sees the Taliban takeover: There’s no relationship” - Jim Cramer
Multiple suicide bombing’s outside Kabul's airport in Afghanistan on Thursday killed at least 13 U.S. Marines and soldiers according to the Pentagon. Dozens of Afghan civilians killed and injured. This will happen again in coming days I bet.
Dead civilians at the Kabul Airport Fed officials meet for the Jackson Hole Economic Policy Symposium today, to discuss tapering, rates, inflation, and fall plans
Point 72, Bridgewater, and Millenium to require Covid 19 Vaccines to work in office
Steve Cohen of Point72 asset Management reportedly has positions in ENB and CNQ
PTON shares fell in late trading (-15%) yesterday after the company warned that a price cut would hurt its bottom line this year and that it found a problem with the way it accounts for inventory and its child sucking treadmills
PTON had less than impressive results
Hedge Funds
Hedge funds have had a volatile run through Covid.
Short selling is booming again after almost being left for dead due to the GameStop mania, reviving hope that hedge funds could turn things around in 2021.
Hedge funds’ short book generated in July the best alpha since 2010, and now it’s outperforming the long side of their strategies, according to Morgan Stanley prime brokerage data.
The rebound came after a tough start to the year when the monstrous GameStop short squeeze inflicted huge pain for short sellers. As the meme stock phenomenon spread, it caused hedge funds to cover short positions.
Hedge funds have gained about 9.2% in 2021 through the end of July, according to HFR. They are trailing the market significantly, as the S&P 500 climbed 17% during the same period. (CNBC).
NFT/Deal Sleds Intro
NFT’s (Non Fungible Tokens) have had an insane several weeks as it stands here are some of the hotter collections on OpenSea. CryptoPunks, Apes, and even Rocks this week performed extremely well. New retail buying NFTs may soon get thirsted by a local top of a few projects.
If you didn’t know a non fungible token or NFT is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be most any types of files (JPG, MP4, etc. (Wikipedia). I just got involved recently with NFTs. I made memes for 5 years, why not mint NFTs? At a bare minimum you will need a MetaMask Wallet to hold Ethereum, and an OpenSea account to participate in NFT markets. Important to note that there are other blockchains to utilize for NFT minting and trading (SOL, etc.)
I listed my first NFT “Tulip Mania” on the Arbitrage Andy OpenSea. Somehow it has several bids already. The concept of NFTs is exciting for digital creators. We’re talking an absolute digital gold rush of unlimited potential. It does seem frothy at present but it would seem that NFTs are here to stay in some form. The gaming, social, and art sectors will drastically change as a result of this technology. We plan on building out an NFT collection that captures our interests in financial markets and history. We’ve added two Arbitrage Andy Deal Sled NFTS for sale as well, check them out below.
Arbitrage Andy is a Deal Sled Savant, I love them and own 12+ pairs. Iconic, versatile, sleek, fu-nance, regal, aristocratic, iconic. I’ve likely received tens of thousands of screenshots and DMs of every type imaginable over the past 4 years. Arbitrage Andy & Co. helped provide analysis of Deal Sled markets in 2018 and 2019 when the term exploded on finance social media. You gotta love Deal Sleds. Gucci, Ferragamo, Cole Haan, Peter Millar, etc.
They’re elite and an absolute power play. Are they aggressive, douchey, and potentially offensive? Yeah likely, but the upside to close fat deals and pull milfs cancels that out. You will be seen as a confident young lord looking to originate deals and size. Good shoes are worth it. My most prized pair is a Darth Vader Black pair of Ferragamos, absolutely elite fucking sleds (below)
We pioneered the Deal Sled giveaway on instagram and we will continue it here as we grow to one day offer our own Deal Sleds to market. This offering is in collaboration with Horatio - London. They’ve been kind of enough to sleeve us 2 pairs of Bit Loafers to put on offer. Winners announced Saturday Night on Instagram. Details will be posted to Instagram today.