I’ve kept this quiet till now.........i’m launching my own personally branded crypto sh1tcoin to shamelessly cash in on the hype.1Q 2021 GMO Quarterly Letter
The signs of speculative excess in the stock market today are obvious. Speculative booms provide entertainment and outsized profits while they are happening, but they do generally burst painfully.www.gmo.com
Well worth reading this.
The article starts by defining speculation as opposed to investment:
The premise of the article really is that speculative bubbles/frenzies occur because there's colossal growth in demand for speculative investments, e.g. when the US parachutes cash to a bunch of bored degenerates who've played too many computer games. This is also the premise behind the old JP Morgan story about "selling when the shoe shine boy is giving stock tips."
- Investment: The deployment of capital to performance an economic service for which a rational counterparty should be willing to pay.2
- Speculation: The deployment of capital to achieve an expected gain based on an investor’s prediction of how future prices will differ from the market’s expectations.
The article further suggests that speculative bubbles burst when the supply of whatever is the subject of the bubble (in this case equities, crypto - though the latter is not mentioned by name) catches up with the demand. And supply always catches up with demand because that's capitalism. We're probably better at it today than ever - again, for evidence I'd point to the sheer number of shitcoins being created on a daily basis.
Not me, unfortunately most of the shares you tip are on exchanges not offered by my trading platform.Anyone made any good gains on the ones mentioned by the Roast so far on here?
Yup, all fueled by money printing.....but what happens when it stops and fundamentals apply....Nah - buy, buy buy!
https://www.tradingview.com/x/6WfIEAlO/
To da moon Frodders!I’m long spot gold to c. $1,920 (target 1) and c. $2,000 (target 2) in the short-term.
After that, who knows?!
https://www.tradingview.com/x/o4DvsiPx/
Hilarious, you and me both.Let's hope so, Wattie!
When I was young, I was a terrible investor. But, after decades of hard work, I am no longer young (!)
Yup but those that bought at 60k probably cashed out.....huge losses.Up about 30% across all coins today. Bitcoin lagging behind over concerns about carbon emissions from mining.
Yup but those that bought at 60k probably cashed out.....huge losses.
Until the volatility and whale manipulation ends it’s never gonna be a reliable store of value......that’s its weekness and as we’ve seen recently government action threatens stability and price.
Agree completely. And I think we’re starting to see a new polarisation. Retail customers, that used to make up all of Bitcoin, are buying alts instead. The whales and institutions are the Bitcoin holders nowYup but those that bought at 60k probably cashed out.....huge losses.
Until the volatility and whale manipulation ends it’s never gonna be a reliable store of value......that’s its weekness and as we’ve seen recently government action threatens stability and price.
I’m buying into Baldcoin big-time - and never parting with itI’ve kept this quiet till now.........i’m launching my own personally branded crypto sh1tcoin to shamelessly cash in on the hype.
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Gonna call it “Baldcoin”.
It’s unique in the crypto world as it is the only alt coin that will guarantee that investors will never take a ‘haircut’ on their investment.
Think of this as a ‘no fringe’ benefit - Baldcoins USP.
It can’t possibly fail, they’ll be queuing up toupee me for it.
Because when a thing has no intrinsic value, and is a pure speculation, there’s nothing to anchor a valuation to. So anything can influence what people will pay for it.And F'in Elon. How can one man has so much influence ?...