Morgan Stanley took $SNAP (Snapchat) public three months ago.
The thesis was future innovation.
Today Morgan Stanley downgraded Snapchat for lack of innovation.
And people wonder why ICO’s, Bitcoins and Tokens are the rage.
Meanwhile, I overheard my father in law grumbling about Amazons lack of profits as I barbecued tonight. I quickly rushed over to sell him a futures contract on my gold fillings.
This has to all be bullish for everything in my portfolio.
Originally published at Howard Lindzon.