Good morning everyone.
Google turned 23 years old yesterday. I joked on Twitter that I hope they finally find a business model and get their act together:
I think everyone wants to know if we are in a bubble right now.
I had John Street Capital on my podcast last week and he summed up our financial moment in time right now as this:
Quantitative easing turned your savings account into checking…The bond market into your savings account…the equity market into the bond market…the venture capital markets into equity markets and gave rise to crypto
You can listen to it here.
The SEC has been quiet for what seems like 1,000 years. Gary Gensler the new head of SEC and of course former Goldman Sachs partner won’t shut up. He has a Twitter account and is having a lovely time sharing all his media appearances. I thought his Twitter account was a good idea at first because it showed he might be listening. Alas, it is just to push his confusing agenda.
While Gensler is on his media tour moving markets looking to help Goldman Sachs, the WSJ has a story about ‘The Social Media Stars Who Move Markets‘.
Charlie had three great posts that I want to link to but his tweet summary of the move in Solana really stopped me in my tracks (I have been a lucky owner from the start from my investment in Multicoin):
The first is about the top 30 stocks of the last 30 years. The ultimate investing superpower would be to have held these and or find the next 30. I think about this all the time with my 8-80 portfolio and trying to be patient and hold, but curate the list enough to own as many as possible.
‘The Greatest Uptrend in History’ does blow my mind. Have a read.
Charlie’s third has me thinking it is way too calm.
Back to ‘is it a bubble’?
Nobody knows. Try very hard not to chase stocks or any asset.
As I like to tell people, it is OK to panic if you panic first.
While everyone has FOMO about missing the next Solana and everyone thinks cash is trash (it mostly is if you have a long enough time horizon), have a plan.
I think everyone should have a financial advisor or coach or mentor and it is ok to pay for it.
Finally, I will leave you with a really good listen. This interview on the future of gaming which should help you understand crypto and NFT’s much better.
