Barry already gave his own head-shaking perspective about charlatans and wannabe-teachers, via his post titled How To Be a “Fake” Online Guru. The below meanderings, from Tim Knight, however, will take you further down the rabbit hole of the self-obsessed, irrational… and, yes, just plain ol’ delusional.
He’s a “YouTube sensation” and, one would assume, some kind of stock market wizard who is printing money left, right, and sideways.
Let’s catch up with something more recent…….from days ago……..here is the young stock trading genius YouTube sensation, straight from a storage center:
There’s a lot to unpack here. Let me save you the time, As this young fellow declares, he…….
Before I go even one step further, allow me to express my horror and astonishment that I, Tim Knight, who has credentials and bona fides up the yin-yang, and an awesome, well-respected website with fantastic tools, has to get on my knees regularly and plead with free Slopers to pull a few bucks out and subscribe – – while this clown actually has had tons of people throw $370 subscription fees at him in what is widely declared to be a total scam – – and now people can’t get their money back! Incredible! God damn it, sign up!
But I digress.
I had never heard of this clown in my life. Looking at his ridiculous unibrow, his gross facial hair, and listening to his unhinged verbal meanderings, I just want to rush to the closest sink and scrub my hands with soap vigorously. This guy is so smarmy and repellent, he just grosses me out.
Then I remembered who he reminded me of: Casey Serin.
Casey’s thing wasn’t stocks, like the kid described earlier. Casey’s thing was real estate. As I described it in a post from 2008:
By “activities,” I mean the purchase of over $2 million in various houses the then-24 year old individual with no meaningful income had purchased. In retrospect, the article about Casey was the most fantastic canary-in-a-coalmine story ever, because it showed how this completely unremarkable person was able to easily get loans (which he himself called “liar’s loans”) to buy properties, all with the hope of “flipping” them for a profit. Now, at this point, those of you familiar with Casey are probably interested that I’m even mentioning him (the rest of you are probably wondering where the charts are). The reason this is such an interesting topic to me is, one, how indicative Casey’s experience was in the context of the “Emperor has no clothes” mentality of real estate investing during 2002-2006, and two, because of the astonishing subculture that grew up around Casey.
Simply stated, Casey spent his early 20s acquiring millions of dollars in real estate, hoping to become a very rich young man. Instead, he wound up bankrupt with ruined credit and a reputation as, and I quote, “the world’s most hated blogger.” There was honestly an entire subculture built around hating the guy, including one of the most hilarious and thorough Wiki sites (over 700 articles!) I’ve ever seen.
Anyway, after the housing bubble collapsed, Casey was last seen parking cars (hence the photo of him above, in the cheap bow tie). But during his manic get-rich-quick days, he floated dozens of insane ideas including a personal favorite, buying an island of his own by 2012:
I hadn’t thought about Casey in many years. I did have a ‘Kennedy moment” when Casey finally gave up on his crazy real estate dreams. I remember precisely where I was and what I was doing, and it was at that moment I realized the ridiculous 2007 bull market was going to get destroyed. Casey was, for me, the poster child of the insanity. As I described above, “the canary in the coal mine.”
I guess some things never change. And I further suppose that I’ve been around long enough to actually see cycles repeat themselves in the form of human characters playing out the same tragic games on their tiny, doomed playhouses of their lives.
Trader, Software Developer, Charting Geek, Bloggger
Tim Knight has been charting and trading since 1987. His first stock trade was, in fact, on October 19, 1987 – the day of the crash – which perhaps goes a long way explaining his disposition toward bearishness. He has been involved in personal computers since late 1979 and, starting at age 16, began writing a couple dozen books about using and programming computers. His most recent writing has been focused on charting and the history of financial markets, including his newest books, Panic, Prosperity, and Progress, and, more recently, Silicon Valley Babble On.
He has been running Slope since March 29 2005 and has, during that time, written more than 20,000 posts on the site.
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