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Dave Portnoy Launches Social Media Driven ETF

“According to Portnoy, BUZZ index beat the S&P 500 by 40% in 2020.”

Brandon Contes

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Dave Portnoy

Barstool Sports founder Dave Portnoy continues to display an immense interest in the stock market since launching Davey Day Trader Global last year. He regularly tweets about daily stock trades and was very vocal about GameStop’s recent market volatility. 

Now Portnoy has announced his next venture, an exchange-traded fund (ETF). ETF’s are a publicly traded investment fund, bought and sold on the market just like a regular stock. To do this, Portnoy is partnering with VanEck and providing his marketing prowess to launch the VanEck Social Sentiment ETF, which will be referred to by the New York Stock Exchange as BUZZ. 

https://twitter.com/stoolpresidente/status/1366757688542191619?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1366757688542191619%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fpublish.twitter.com%2F%3Fquery%3Dhttps3A2F2Ftwitter.com2Fstoolpresidente2Fstatus2F1366757688542191619widget%3DTweet

As explained by Portnoy in his recent “Emergency Press Conference,” BUZZ will invest in stocks that are garnering the most interest from social media. Launching March 4, BUZZ will hold stock in 75 companies with a market cap of $5 billion, and it will rotate stocks based on social media interest. 

When you invest in BUZZ, it redistributes your money to the top 75 stocks using its algorithm. According to Portnoy, BUZZ index beat the S&P 500 by 40% in 2020.

Recently, social media has been an influencer of stock market performance, as seen by what happened when Redditors targeted GameStop, AMC and others last month. It drove stock prices higher and negatively impacted some large hedge funds. BUZZ will seemingly use that sentiment to follow social media trends as part of its algorithm which will use traditional data as well.

An ETF based on social trends was launched in 2016, called BUZ. It closed in 2019 after struggling to build assets because of a lack of buzz. That’s where Portnoy comes in as the wild card. If the ETF performed well but failed to gain traction because it wasn’t noticed, Portnoy’s marketability should fix that.

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John Skipper: Media Has Not Treated Adam Silver Like He’s Teflon

“I don’t think anyone has hesitated to criticize him when he has done things that are controversial or difficult. Certainly, our friends at FOX News have not provided him with a Teflon coating.”

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Dan Le Batard hosted an interesting conversation on his Thursday show examining the performance of NBA commissioner Adam Silver during the press conference in which he announced the suspension of Suns owner Robert Sarver. David Samson and John Skipper joined Le Batard in the discussion.

Samson, former president of Major League Baseball’s Miami Marlins, said of Silver “it’s amazing the level of Teflon he’s had, and I don’t know that it’s deserved in any way.” He added that the NBA commissioner’s performance was “not very well workshopped” when addressing the media.

John Skipper, co-founder of Meadowlark Media, acknowledged that the performance was not strong. He said that it was clear that Adam Silver was frustrated by the limitations his job put on what he could do about someone behaving in a way that he did not think was appropriate for the NBA. He did pushback on the idea that Silver had been immune from criticism.

“I’m not sure that I accept that he’s Teflon-like,” Skipper said. “He’s actually made most of the right decisions and done most of the right things and he’s gotten credit for that. I don’t think anyone has hesitated to criticize him when he has done things that are controversial or difficult. Certainly, our friends at FOX News have not provided him with a Teflon coating.”

Samson smiled during the answer, which Skipper addressed by acknowledging that Samson knows that Skipper is friends with Adam Silver. The Meadowlark boss called himself an “apologist” for Silver, but added

“I mostly think he’s done a fabulous job. If you want to hold up what commissioner has done most of the right things in the last seven or eight years, he’s not Teflon-coated, but he has a tremendous track record, which I think deserves our support.”

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Chris Long Tells Jim Rome He’s Gambled on Games to Keep Him Interested For His Podcast

“So you’re like alright I need to do my job tonight, and I’m tired I want to go to bed, but maybe I’ll just throw a couple hundred bucks on the Jaguars,” Long said. “And now I’m invested…”

Jordan Bondurant

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Placing bets on NFL games adds a whole other layer to the NFL viewing experience, and Super Bowl champion Chris Long understands that.

Long, who is not that far removed from his playing days in the league, was a guest on The Jim Rome Podcast, and said he initially considered gambling on football as something to compete at after retiring.

But now that he’s had some time to better learn the ins and outs of wagering, he’s become wiser and better informed. It’s helped him when talking about gambling on his own podcast, Green Light with Chris Long.

“I want to be responsible and give out good picks,” Long said. “I don’t want to just throw stuff out there because I’m getting paid by a casino. I’m really interested in the artform of gambling if that makes any sense.”

Long added that having that wagering itch definitely keeps him enthralled in watching football all day like a lot of other NFL fans, even those games people generally think won’t be that good competitively ahead of time.

He said it’s definitely helped with his show.

“I’m not even gonna lie, dude, sometimes you get burned out by football, right? I played it for a long time, now I’m covering it. So you’re like alright I need to do my job tonight, and I’m tired I want to go to bed, but maybe I’ll just throw a couple hundred bucks on the Jaguars,” Long said. “And now I’m invested and I can do my job more effectively because I’m gonna be glued to the TV. So like in a weird way it’s held me a little bit more accountable when it comes to staying on my game.”

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Shams Charania Signs New Contracts to Remain with Stadium and The Athletic

Shams joined those outlets in 2018 and had agreed to two other deals with them in that span.

Jordan Bondurant

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After speculation over his future, NBA insider Shams Charania is not going somewhere new.

Andrew Marchand of the New York Post reported Wednesday night that Charania has signed new contracts to remain at Stadium/Bally Sports and The Athletic.

Shams joined those outlets in 2018 and had agreed to two other deals with them in that span.

Shams has been an integral piece in the growth and evolution of Stadium, elevating our content across both digital media and television experiences,” said Stadium CEO Jason Coyle. “He is one of the finest professionals and people in our industry, and we are truly excited to continue building upon our longstanding and trusted relationship.”

Charania, 28, is an integral part of Stadium/Bally Sports NBA coverage. He makes regular appearances on the Sinclair-owned networks on shows like Inside the Association and The Rally.

Shams has not yet addressed the news on his Twitter account, which has 1.8 million followers.

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