{"id":42786,"date":"2025-04-11T11:25:54","date_gmt":"2025-04-11T11:25:54","guid":{"rendered":"https:\/\/idea.membrane.com\/songwriter\/?p=42786"},"modified":"2025-04-11T11:25:54","modified_gmt":"2025-04-11T11:25:54","slug":"is-first-last","status":"publish","type":"post","link":"https:\/\/kingarthur.com\/songwriter\/2025\/04\/11\/is-first-last\/","title":{"rendered":"Is First Last?"},"content":{"rendered":"

Is-First-Last-0.mp3<\/a>
\nIs-First-Last-0.mp4<\/a>
\nIs-First-Last-I.mp3<\/a>
\nIs-First-Last-I.mp4<\/a>
\nIs-First-Last-intro.mp3<\/a><\/p>\n

[Verse 1]
\nThe screen turns to green
\nWill the losses come clean
\nOr is their gain
\n… my pain<\/p>\n

[Chorus]
\nAt first (last was last)
\nAt last (Last is first)
\nFuture’s passed (past)
\nHave we seen (the worst)<\/p>\n

[Bridge]
\nSoar some more
\n(Before hitting the floor)
\nRising high
\n(Before bye-bye)
\nSuch a fuss
\n(In the chaos)<\/p>\n

[Verse 2]
\nOh, no… shouldn’t have said
\n’cause now the screen’s gone red
\nOr is their pain
\n… my gain<\/p>\n

[Chorus]
\nAt first (last was last)
\nAt last (Last is first)
\nFuture’s passed (past)
\nHave we seen (the worst)<\/p>\n

[Bridge]
\nSoar some more
\n(Before hitting the floor)
\nRising high
\n(Before bye-bye)
\nSuch a fuss
\n(In the chaos)<\/p>\n

[Chorus]
\nAt first (last was last)
\nAt last (Last is first)
\nFuture’s passed (past)
\nHave we seen (the worst)<\/p>\n

[Outro]
\nSoar some more
\n(Before bye-bye)
\nSuch a fuss
\n(In the chaos)<\/p>\n

ABOUT THE SONG
\nThose who appeared to be first, ended up last. Those who appeared to be last, ended up first.<\/strong>
\nApril 9 wasn\u2019t just another volatile day on Wall Street \u2014 it was a near-perfect example of how markets behave during a crash, and why some of the biggest one-day rallies in history often happen inside<\/em> brutal bear markets.<\/p>\n

In essence, the trillions of dollars that appeared to be gains in the market were really losses for short sellers. That\u2019s the hidden truth of sharp rallies during a crash \u2014 the money didn\u2019t come from real investment demand; it came from forced buying.<\/p>\n

The key difference is this: when markets rise under normal conditions, long-term investors have unrealized gains \u2014 profits on paper, but not yet cashed out. But in a short squeeze, those unrealized gains<\/strong> for stockholders are directly matched by realized losses<\/strong> for short sellers who are forced to buy at any price to cover their positions.<\/p>\n

It’s not wealth creation \u2014 it’s wealth transfer under pressure.<\/p>\n

In the chaos of a market crash, those who looked like winners became losers \u2014 and those who looked like losers became winners.<\/p>\n