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Saved by @Mollyycolllinss

Tulips, the #Bitcoin of the 17th century

How a pandemic, FOMO, and speculation made a flower worth the same as a mansion

/THREAD/

 1/ During the beginning of the 1630s in the Netherlands, tulips were difficult to cultivate and preserve.

This made them a luxury good reserved for the rich and affluent of the upper class living in mansions with big gardens.
2/ The tulip market was not organized nor regulated, as other trades, which made it easy for professional growers to enter it.
Due to the international trade expansion, the growers starting cultivating rare varieties, to achieve higher prices.
3/ The biggest change occurred when florists used tulip bulbs as speculative assets.

The market expansion led to forward bulb-purchase contracts, thus enabling trading during the entire year, and not just during the summer months when tulips bloom.
4/ Easy loans and credit for forward contract purchases led many to enter the market since not much capital was required.

People from the lower economic class (maids, servants, craftsmen) could not resist the temptation for some quick profits and entered the speculative market.
5/ Many sold or remortgaged their houses, which led to a decline in the price of real estate.

The influx of new investors and capital led to a surge in the tulip bulb prices.
6/ Ordinary bulbs saw their prices rise by 20 times, while the rare ones skyrocketed to 4-6,000 fiorins, equivalent today to $750,000.

More than enough to purchase a luxury mansion in the most expensive neighborhood of Amsterdam at the time.
7/ In February 1637, bulbs could not be auctioned even at lower prices.

The news spread like wildfire, with contract holders trying to sell their contracts as soon as possible.
8/ This created a chain reaction of lower prices, lower interest, fewer willing buyers, and lower speculation which is what drove the market at the time.

Contract holders refused to pay the agreed price and tried to settle with florists for 10% of the contract price.
9/ The government refused to intervene and delegated the issue to the local authorities to mediate the disputed contracts.

Desperate growers sold at low prices to secure a profit.
10/ After a court ruling in 1638, the contracts were canceled at only 3.5% of their initial price.

Despite the bubble bursting, the broader economy and most people were unaffected, since it was brief and localized.
11/ Most of the debt was personal, and in some cases canceled out between two parties.

Most of the credit was provided by people involved in the tulip trade and not banks, which didn't harm the country's financial system.
12/ The biggest losses were incurred by growers with large quantities of worthless tulip bulbs and those who sold or remortgaged their real estate and got credit to speculate on margin.

The numerous disputes and court litigations for the contracts lead also to a loss of trust.
13/ Historians have many theories regarding the origins of the first speculative bubble in history.

The most common was that people were bored from the bubonic plague that was ravaging the country at the time.
14/ All they had left to do was drink in taverns and pubs, play drinking games and speculate the price of the bulbs in their possession.

Sounds familiar?

/END/
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Companies to AVOID

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Some tips by Peter Lynch, one of the most successful investors of all time, on which companies to avoid investing in


1. Hottest stock in the hottest industry, with nothing but hope and thin air to support them (MJ stocks in 2017, internet stocks in 2000, electric vehicles in 2020)

Deteriorating balance sheet.

When analysts predict double-digit growth forever, the industry goes into decline.

2. Product/service, not protected by patent or niche, easy to be replicated by competitors, especially in a high-growth industry.

3. The "Next Something"

Everyone wants the next $TSLA, $AMZN, $GOOG

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Isaac Newton: A brilliant scientist, a terrible investor

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1/ Sir Isaac Newton is considered one of the most influential scientists of all time and a key figure in the scientific revolution.

He was a mathematician, physicist, astronomer, theologian, and author.

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However, his most prominent failure was losing an entire fortune in the first stock market bubble in history, the South Sea Company in 1720.


3/ Newton was usually a cautious investor.

Before 1720 most of his investments were in safe and reliable securities, various government bonds that delivered a regular stream of income, and shares in a few of the larger companies on the exchange, including South Sea Co.

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How Volkswagen went from being on the brink of bankruptcy to the most valuable company in the world in two days

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This was a surprise to many who were led to believe that Porsche wasn't planning a takeover of VW, based on the company's announcements.


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What do I do with this information?

Simple.

I'm trading the range against a core position. Buying when price pushes lower, selling when higher. It's like playing the achordeon. There's always air left inside.

Where exactly?

Nowhere.

I don't use limits for that. $BTC is liquid enough to trade at market without issues.

I'm watching PA, volume and rates for buying and euphoria as reflected in rates for reducing.

Decision making is dynamic. Nothing is set in stone. But most likely if price heads back down to 30K 'll be holding off next time. The gameplan is to have ammo to buy the dip (to redeploy). If 30K breaks absolutely no buying until down to 27Ks or back above 30K.
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“A powerful car may be driven badly. A less powerful car may be driven well. The skill of the car driver determines how the power of the car is used.”


What @Mitesh_Engr Sir looks at for Expiry Trading:

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#3/thread on Angkor wat

Christianity and islam may be the largest religion of today’s world but Sanatan dharm has the largest religious monument in the world in the form of Angkor wat. It is situated in combodia and spread across over 400 acres / 1.6 km².


It was listed as a UNESCO World Heritage Site in 1992, which encouraged an international effort to save the complex.
It was originally built as a Hindu temple dedicated to the god Vishnu. In Khmer, the Cambodian language, Angkor means "city" and Wat means "temple grounds".


So Angkor Wat means "Temple City". Its original name was Vrah Vishnuloka or Parama Vishnuloka, meaning the sacred dwelling of Vishnu in Sanskrit.
But, it gradually turned into a Buddhist temple towards the end of the 12th century & is still used for worship today.


Angkor Wat was initially designed and constructed in the first half of the 12th century, during the reign of Suryavarman II, as the king’s state temple and capital city. It was built without the aid of any machinery, as there was no machinery available at that time.


Evidence for these dates comes in part from inscriptions, which are vague, but also from the architectural design and artistic style of the temple and its associated sculptures.

Another aspect is that the five central towers of Angkor Wat symbolize the peaks of Mount Meru,
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