1/ Feels like a good time to tell the story of how I went from broke to a millionaire to broke again in 2017/18 again...
Yesterday was brutal for some people...
Losing life-changing money sucks, losing any money sucks...you can chase the market or you can change your strategy.
- Traded $32k to $1.2m
- Thought I was a genius
- Made poor investments
- Didn't conserve capital
- Peaked at 150 BTC
- Lost nearly all of it
2 weeks from losing my house + no income. Oops.
If you are really in it for the tech, go and build something.
- Better traders than you
- People who can move markets
- Unknown information
And if you are trading with leverage you might blow up your account with the volatility.
I made the decision that the crypto with the best opportunity of existing in 10 years is #Bitcoin:
- Solves a genuine problem
- The right tech
- A proven track record
- Ethereum (minimal)
- XRP (Arrington Capital, oops)
- Link (lol)
- Dentacoin (err)
But Bitcoin - MicroStrategy, Square, Ruffers, MassMutual...
There is a wall of money coming, and it isn't going into XRP... another easy signal, these people don't want to sell their #bitcoin, why? @bgarlinghouse can't wait to unload his shitcoin on you, why?
- Tezos foundation
- Block One (remember EOS?)
- I suspect Roger Ver still holds a load
- Even rogue states
- Only crypto which is meaningfully decentralised
- Regulatory moat established
- Genuine censorship resistance
- Fixed cap
- Predictable issuance
It is the best and hardest fucking money that has ever existed. You can argue against this but you are wrong.
- Detractors turn to bulls
- Maxi narratives are proved right
- Price sets new all-time highs
- Security increases
- Governments print more useless fiat
- Argued against narratives
- Tried to fix Bitcoin (I was new and knew better)
- wAs oPeN MiNdEd
- Watched by BTC stack dwindle away
21 million divided by your sat stack = your score.
$ value is volatile but your score is the amount of the new financial paradigm you own.
Stack your sats (h/t @matt_odell)
Stop playing short-term games, zoom that shit out, if you can't handle the drops you are over-leveraged.
Bitcoin is economics 101 - supply and demand. We're talking about hard money, people who get #Bitcoin stay, they rarely sell...
Yeah, you're going to out trade the market, sure you are. Some will, most won't.
My edge is podcasting, so I make shows, sell adds, make a profit and buy #bitcoin. What is your edge?
1. Earn money
2. Buy #Bitcoin
3. Be patient
I know what some of you are thinking, but what if #bitcoin fails? Have you not seen the shit it has survived? Silk Road, Mt. Gox, civil wars.
It is still here and stronger than ever.
Look, 2018 sucked, going from paper millionaire to broke was a motherfucker, but tears won't bring back the money.
...at the end of every month, I will have more sats than the end of the last month.
Then with a little patience, I trust #bitcoin to do its thing.
...we're not fucking selling because it is heading to $100k.
...we're not selling at $500k because it is heading to $1m.
(Okay, I will definitely sell a little at $1m for a Lambo, bite me - but 0.2btc for a Lambo, sounds good right?)
Inflation punishes the prudent. This isn't right, is it?
If you want to build a solid financial future then you need to build solid foundations. You got this!
More from Trading
1. You can be a Stock Market Genius by Joel Greenblatt
2. Common Stocks, Uncommon Profits by Phil Fisher
3. Margin of Safety by Seth Klarman
4. The Crowd by Gustave Le Bon
5. Winning the Loser's Game by Charles Ellis
6. The Zurich Axioms by Max Gunther
7. The Most Important Thing by Howard Marks
8. Thinking, Fast and Slow by Daniel Kahneman
9. The Intelligent Investor by B. Graham
10. A Zebra in Lion country by Ralph Wanger and Everett Mattlin
11. Learn to Earn by Peter Lynch
12.Poor Charlie's Almanack - The wit and wisdom of Charles T Munger
13.Speculative Contagion by Frank Martin
14. The Long and the Short of it by John Kay
15. More than you know by Michael Maubossin
16. Influence - The Psychology of Persuasion by Robert Cialdini
17. The Psychology of Judgment and Decision making by Scott Plous
18. The Real Warren Buffett by James O'Loughlin
19. Devil take the Hindmost by Edward Chancellor
20. Risk Intelligence by Dylan Evans
21. The Emotionally Intelligent Investor by Ravee Mehta
22.Accounting for Value by Stephen Penman
23. Common Stocks and Common Sense by Edgar Wachenheim III
24. Big Money Thinks Small by Joel Tillinghast
25. Memos from the Chairman by Alan C Greenberg
We can only see the Happy part of other lives, but ignore what they might have gone through to achieve that.
But let me tell you, even if someone is at ease right now, doesn't mean that he will continue to be at ease for their whole life.
The struggle will come again and we will have to go through it ,whatever we do, whoever we are , we have to cross that river of pain.
Even,In trading there are times when nothing works out, you go through long time and money draw-downs.
Even if you think you are a master, you have to go through it.
If you are struggling right now, don't lose hope as the tables will turn.
But remember to work as hard as you can and do as much good work as you can in your ease or Joyful time of life, because the tables will turn again.
Thank you for reading.
First, the economic realities: 1) GSEs are the bedrock behind our housing market which in turn is the bedrock behind our economy, 2) after 12 years and $300 bn, gov has thus far squandered the opportunity to recap, 3) this economy recovery is VERY long in the tooth.
When Trump took office, we all hoped that he would usher in a regime change from the Admins that enacted conservatorship and then the Net Worth Sweep. Well, he actually did that with the appointments of SM and MC.
Yet, what always bothered me about SM was his perfect poker-face. For those of you following me for awhile, you know I’ve been saying that I couldn’t tell whether he was just playing bad cop or really was Darth Vader incarnate.
The primary consensus exit preconditions were: 1) there has to be a demonstrable path to meeting cap reqs, 2) the SPS needs to be forgiven, 3) court cases need to be settled.
Trading always was, is, and will always be a game against yourself. Nobody can make it happen for you, and there’s nobody to beat.
Your only chance of winning is to practice being a better version of yourself today than you were yesterday.
Traders waste so much energy lamenting on "I missed this" - if all that energy was spent on fixing a problem they just identified — many of them would be better off than they are today.
Be a good problem solver, not a complainer. That negative energy is no bueno.
Performance is a byproduct of position sizing.
Position Sizing stems from conviction.
Conviction is built by doing deep dives and studying specific setups in the markets, especially ones that tap into its structural tendencies consistently.
Have a few setups you know really really well.
I have hundreds of examples on each, done deep dives & can trade them when I see them instinctively.
You have to know exactly what ur looking for…so u can repeatedly execute those setups & make them sources of income.
On Wed., millions of Texans are still without power. Meanwhile, Austin is expected to reach freezing just in time for a massive ice storm expected to bring down trees and powerlines. Plus, broken water lines everywhere. So clearly, the people in charge need a scapegoat. … 2/18
Fox News and GOP politicians—including Gov. Abbott — have been taking this “opportunity” to attack wind energy, call for the burning of more fossil fuels, and to make claims that green power is “deadly.” Surprise! They're lying. … 3/18
In 2003, Australia installed a pair of wind turbines at it’s Mawson Research Station in Antarctica. One of those turbines failed … after 14 years of operating in sub zero temperatures and winds over100 mph. The other turbine is still operating today. … 4/18
At the opposite end of the planet, wind turbines are operating at Svalbard, the most northerly town in the world. The fishing town of Havoysund, inside the Arctic Circle, runs on wind power. Greenland has been steadily moving to wind since 2008. … 5/18
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Here's some details... Read on.
...it took me another 5 minutes to get qualified for options.
If I share a sign up I get "free shares" and I can share as much as I want up to 500$ worth.
The main UI has a prepopulated "list" of stocks/crypto to watch and links to news.
Clicking a stock opens a "trade" button that looks like this.
Notice options is first, buy second.
Options took me to an approval process (which took about a minute) and now away I go trading Baba options.
Buying stock looks like this. It emphasizes fractional shares.
Shri Krishna Leela
This is a beautiful story of Guruvayurappan. Once there lived in Guruvayur a poor family. Kitta, his wife & kids were struggling for their daily needs. With only a coconut tree in house, he earned a living by selling coconuts.
Kitta was from a low caste family. He was a great devotee of Guruvayurappan. Everyday before going to work he always prayed infront of a picture of Guruvayurappan in his house. His only wish was to worship at Guruvayur & have annadanam in temple. But he was not allowed there
It was Utsavam time in Guruvayur. From far behind kitta and family worshipped Guruvayurappan. Annadanam was given daily and no one was left empty stomach. Only Kitta didn't receive. That night, it was only Kitta's family who was sleeping without food. After temple nada closed
Shri Krishna, dressed himself as a Brahmin went to temple Kitchen. He packed food and went directly to kitta's house. Reaching Kitta's house, Shri Krishna told he was sent by a cook of Guruvayur temple and gave them the food he packed. Kitta and family was very happy seeing food.
When Kitta finished his food, Brahmin asked it will be better if he get a tender coconut( karikku)to drink. Kitta climbed the tree and gave all coconuts to him. After having 1 tender coconut, the Brahmin asked to bring remaining coconuts to Guruvayur temple the next day.
2/ Stone and Manafort are longtime business partners; we'd expect Manafort to tell Stone what Assange told him, and for him to expect Stone to then pressure the campaign not only to hire him but quickly elevate him.
And who was Stone in touch with at the campaign? Trump himself.
3/ I bet you Manafort's late March emails are very interesting and that some of them are to/from his longtime business associate Roger Stone. And I bet Roger Stone's late March phone calls are very interesting and that some of them are to/from his longtime friend Donald Trump.
4/ At the end of March 2016, Trump suddenly convenes a NatSec meeting. At that meeting he directs his NatSec team to change the RNC platform in July to benefit Putin. Who later takes credit for that change?
Paul Manafort's business associate, Kremlin agent Konstantin Kilimnick.
5/ Why did Donald Trump suddenly convene a NatSec meeting 3 days after he finally hired Manafort? Why did he issue a pro-Kremlin directive at that meeting that Manafort's camp would later take credit for? What did Manafort tell Trump in the days leading up to that NatSec meeting?
@NBA @StephenKissler @yhgrad 1. From Day 1, SARS-COV-2 was very well adapted to humans .....and transgenic hACE2 Mice
1. From Day 1, SARS-COV-2 was very well adapted to humans .....and transgenic hACE2 Mice— Billy Bostickson \U0001f3f4\U0001f441&\U0001f441 \U0001f193 (@BillyBostickson) January 30, 2021
"we generated a mouse model expressing hACE2 by using CRISPR/Cas9 knockin technology. In comparison with wild-type C57BL/6 mice, both young & aged hACE2 mice sustained high viral loads... pic.twitter.com/j94XtSkscj
@NBA @StephenKissler @yhgrad 2. High Probability of serial passaging in Transgenic Mice expressing hACE2 in genesis of SARS-COV-2
1. High Probability of serial passaging in Transgenic Mice expressing hACE2 in genesis of SARS-COV-2!— Billy Bostickson \U0001f3f4\U0001f441&\U0001f441 \U0001f193 (@BillyBostickson) January 2, 2021
Human\u2013viral molecular mimicryhttps://t.co/irfH0Zgrve
Molecular Mimicryhttps://t.co/yLQoUtfS6s https://t.co/lsCv2iMEQz
@NBA @StephenKissler @yhgrad B.1.1.7 has an unusually large number of genetic changes, ... found to date in mouse-adapted SARS-CoV2 and is also seen in ferret infections.
@NBA @StephenKissler @yhgrad We adapted a clinical isolate of SARS-CoV-2 by serial passaging in the ... Thus, this mouse-adapted strain and associated challenge model should be ... (B) SARS-CoV-2 genomic RNA loads in mouse lung homogenates at P0 to P6.
I have some thoughts:
As somebody who bootstrapped ~4 companies, I feel like I had to make some clearly suboptimal decisions early in them for lack of what is, in hindsight, not all that much money. But there's a huge gap in the product space for investment options.
It's weird: you can get $25k from Amex trivially, and angels are very willing to write a check for that much, but you have to make representations about your goals/ambitions/market/etc which don't really apply to everyone.
And so you see the traditional angel/VC ecosystem fund companies where honestly the returns are probably not there, and this is knowable pretty early, but the chase of them will wreck what could have been a perfectly happy business.
(To make the math work for traditional VCs the company has to at least have a market-appropriate shot of $100 million a year. There are a lot more $10 million a year companies than $100 million a year companies. That is *not* a bad terminal outcome for founders/employees.)