Trump announced this Wednesday October 20th that his new company called Trump Media & Technology Group (TMTG) would merge with a SPAC called Digital World Acquisition Company (DWAC), with the purpose of creating a new social media (similar to Twitter) called “Truth”.

I saw this news early on Thursday morning, on Twitter. Some people also shared on Twitter how shitty the whole thing looks, whether is it the CEO of Digital World Patrick Orlando, who also happens to be CEO of Yunhong International, another SPAC located in an office building in Wuhan, China. The same address happens to be shared by Yunhong Group, which sells an array of supplements such as “Natural Brain Booster Capsules” and “Bitter Gourd Peptides”.

There were also reports that TRUTH Social is using open source platform Mastadon’s code base without credit. Add to this the fun fact that DWAC disclosed that it has no full-time employees (not even the CEO or CFO).

So I saw all of this, and decided, “Meh…this looks idiotic. Not worth my time”.

Then this shit-ball flew to the sky, more than quadrupling on the first day, and then some more on the second day.

The warrants, on the other hand, went from $0.50 to $60, before settling at $29 at the end of Friday. So a 60-bagger in two days.

When I see things like this, I can’t help but be overwhelmed with envy and anger.

Envy because the last time any of my investments multiplied by 60 was…never. Let alone in two days. I’m we’re talking about litterally getting rich in two days!

Anger because it doesn’t make ANY sense. No one deserved to make money here. It’s insane: all Trump had to do was announce he’d create a social media platform, and voila! He and his accolytes made hundreds of millions of dollars based on an announcement. There is no company, no product. And yet the retail frenzy swarmed on this stock like it was the most precious thing of all time. The greed has reached such stupid levels that nothing makes sense anymore.

Of course I wish I took part in it. I wish I was dumb enough (or smart enough) to think that it would fly just because Trump’s name is associated with it, and that it would become a meme stock. But I didn’t. I missed the opportunity. I was asleep at the wheel.

At the very least, I could have monitored it. I could have reacted, if I wasn’t able to predict it.

But I didn’t.

I made a judgement, and I didn’t think twice about it.

Who’s the idiot now?

How does one purify his heart from envy? Is it possible to build walls so that it doesn’t enter in the first place? Or should we instead have a high-tech mega vacuum cleaner that we can use at will once the beast is inside? Or maybe we can just sit down, stop everything we’re doing, and try to have a conversation with it. I don’t know. I might try this.

When something like this happens, when I make a mistake of omission and miss such a huge opportunity that was in my radar, I go on an emotional twister. It affects me, and it can last several days.

It’s a very dangerous spot for me, as it pushes me to be 10x more reckless than usual, because I feel that I was so close to massive gains. I can’t let it go. I’ve made big mistakes in the past when I was in this state, following a similar missed opportunity (namely $GME).

Charlie Munger has said some stuff on envy, now would probably a good time for me to revisit that. I wish this stuff just didn’t get to me, but I can’t control it. It pisses me off.

Talking about Munger, I guess if I pretend to be a follower of his and of the value investing philosophy, I shouldn’t feel entitled to gains I could have made from weird set-ups like $DWAC. But look at this guy:

Scrolling through his twitter, he seems to be making 5 to 6 digit profits on a daily basis. I don’t have proof that he’s legit, but let’s assume that he is. What would it say about the game I’m trying to play, versus the game he is playing. Am I in the right game? Should I try playing another one? Can I play another one?

Reminds me of the time I switched from No-limit Holdem to Omaha. I was a successfull no-limit player. Never managed to turn a profit in Omaha, ever. So maybe I should stick to my lane and what I know how to do. Maybe I have no right to win in day trading.

That being said I’m still an emotional being and I know those emotions can make me to do do stupid things. Here’s what I’m going to do. I’m gonna have a big red square on the wall in front of my desk, like the flag they put up when the sea is dangerous. The flag will stay RED until I feel I more at peace, then I’ll transition to YELLOW, and when I feel positive, calm and strong again, I’ll put a GREEN square.

The RED square will mean, “DANGER - DON’T GO IN THE WATER - DO NOT MAKE A SINGLE TRADE”.

The YELLOW one will mean, “CAREFUL - IF YOU GO IN THE WATER, BE EXTRA CAUTIOUS, AND DON’T GO DEEP - ONLY SMALL INFREQUENT TRADES ALLOWED”.

The GREEN one will mean, “HAVE FUN - WATER IS GOOD FOR SWIMMING - BIG TRADES ALLOWED”.

Closing words: it could be worse.

Update (2021-10-25)

The fucking thing has moved even higher pre-market today (Monday). It has now 10x in less than a week, and I think the warrants have 80x. Kill me now.

I do feel the impulse to DO SOMETHING. It’s as if I had lost that money and wanted to find a way to make it back, just like the old days when I was playing poker and just got a bad beat.

So…I will respect my system and not put in any trade today.

I hate myself.