Slight modification... The regions where property will be purchased a low cost will, not coincidentally, be the "opportunity zones" where investment transactions without capital gains can be made. The areas where riots took/take place (OZ's)will sell cheap. WATCH... #RESET
The mass accumulation of wealth (multinationals) at the upper tier of Big Tech (technocrats) during COVID is approximately +40% since it began.
The Main Street retail centers that were shut down during the civil unrest then faced the (not coincidental) follow-up financial stress from the COVID impacts.
Now think about this...
Look up the $$$ growth of Amazon and Wal Mart and tech in 2020. You can clearly see it.
Move the 40% $$ gains (Wall Street) into purchasing the 40% collapse on Main Street.
The transfer tool is the tax sheltered Opportunity Zone plan.
"Never let a crisis go to waste"...
Only in 2020 the "crisis" was (yet again) by design. COVID mitigation in the Blue states, not coincidentally the same OZ regions, is a mass transfer of wealth to the upper tier.
..... CAN YOU SEE IT?
More from Trading
If it works, and it is decentralized, then why would we need more than one global-reach currency?
If it does the job perfectly, then why do we need another?
I don't mean there won't be others. What I mean is that maybe Crypto UBI will be like the existing non-democratic crypto market ranking. There will be a first-place market cap amount, and exponential decay to the #2, #3, #4, etc.
This is in contrast to the simplistic view where we assume there will be X systems and they all have more or less the same abstract Y market cap or reach, and they all add up to an integrated system with X*Y market cap.
All you have to do is design the controls the way they want to be designed. If you don't introduce some unneeded damage in it, then there won't be the need to come up with another system that fixes the damage and actually does complete "the system" that we will use.
E.g. Bitcoin would have worked, except it introduced the damage that is Proof-of-Work, which means it is unusable and will be replaced by Ethereum, which will use PoS, thus fixing the damage.
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.
2/ The original thread is gone but you can read it here.
- 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.
3/ I am going to assume you are in it for the money rather than the tech. Yeah, you might Tweet about the amazing blockchaining of cross-border payments and oracles yadda yadda...really, you are in it to make money.
If you are really in it for the tech, go and build something.
4/ Okay, so if you want to make money, trading is super hard, you are trading against:
- 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.
5/ If you are not trading, you are investing. Okay, so what are you investing in?
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
It began as an online wine retailer with many SKUs/low loyalty, but then pivoted at a pivotal moment when a top exec realized a cohort of consumers were super loyal – those that enjoyed supporting independent winemakers. @_inpractise Feast your eyes on this glorious disclosure:
Naked Wines is forecast to report approximately zero EBIT this year. As we will see, the company is not worth zero, nor does it mean Value Investors are allowed to cavalierly toss it in the “too hard” pile. Here’s a way to value Naked Wines with discipline:
Variable (1): $WINE discloses Standstill EBIT, boosted by COVID. Loyalty of $WINE’s “angels” makes EBIT stickier than some other eComms. Astute SaaS observers will note revenue retention (I assume ~78% on avg) is below B2B SaaS (95-130%). My standstill NPV implies 6.3x EV/EBIT.
Variable (2): A disclosure triumph. If slides could talk, “we reject simpleton requests to under-invest & produce 123% IRR for shareholders that truly like value creation.” Value investors, note what the V stands for in LTV. PV it. I assume payback holds 5 yrs, then slow decay
This is important to realize. The way many of these firms are structured is that they have a pure MM book (keep inventory low, stay hedged, clip spreads) and prop books to express a view. The prop book can trade with the MM book at (to first approximation) mid and a lot of their— macrocephalopod (@macrocephalopod) February 15, 2021
A “pure” market making operation is based on clipping spreads, ie buy low, sell high, keep inventory low, keep risks (eg greeks) tightly hedged. Skew your bid/offer based on your inventory to try and offload it as quickly as possible without impacting your profit too much.
This kind of trading has enormous risk-adjusted returns (Sharpe > 10, ~no down days) but it’s hard to scale it because your P&L is a function of two things — volume and volatility — that you don’t have any control over.
This is a problem because the costs of running a pure MM firm (mainly infrastructure and employee comp) are increasing and profit margins are decreasing. So many firms turn to prop trading as a way to increase P&L at the cost of some Sharpe.
One way to approach this is to make your price skew dependent on factors other than your inventory, eg if you think the market is going up you skew prices a little higher to encourage people to sell to you and discourage them from buying from you.
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Five billionaires share their top lessons on startups, life and entrepreneurship (1/10)
I interviewed 5 billionaires this week— GREG ISENBERG (@gregisenberg) January 23, 2021
I asked them to share their lessons learned on startups, life and entrepreneurship:
Here's what they told me:
10 competitive advantages that will trump talent (2/10)
To outperform, you need serious competitive advantages.— Sahil Bloom (@SahilBloom) March 20, 2021
But contrary to what you have been told, most of them don't require talent.
10 competitive advantages that you can start developing today:
Some harsh truths you probably don’t want to hear (3/10)
I\u2019ve gotten a lot of bad advice in my career and I see even more of it here on Twitter.— Nick Huber (@sweatystartup) January 3, 2021
Time for a stiff drink and some truth you probably dont want to hear.
10 significant lies you’re told about the world (4/10)
THREAD: 10 significant lies you're told about the world.— Julian Shapiro (@Julian) January 9, 2021
On startups, writing, and your career:
I think investors are just hedging their bets on the team
Actively finding a cofounder seems odd and forced to tick a box ✅
If you (potentially) have one, great!
💰Pay amazing folks (contract/FTE/PTE)
One pro is to share the burden with someone who cares as much about the business as you do.
Going looking for a cofounder (whether you’re pressured to or not) seems like a disaster
Markets move towards desired solutions naturally.
(Like folks lining up for ice cream on a hot summer's day).
Our ability to influence the market is much lower than you think.
It's better to build your product to conform to the direction the market is moving.
Before folks start mentioning Steve Jobs and the iPhone ("Steve built a product we didn't even know we needed!")
Steve recognized the market's existing momentum and saw an opportunity.
"Everyone has a cell phone." (momentum)
"But nobody likes it." (opportunity)
Markets move towards solutions on their own; founders can't pull markets over to their solution.
If you're struggling to gain traction, you likely have a problem in your:
(or all three)
Bin Salman heads only one faction.
Mohammad Bin Salman [MbS] not only has to deal with states in the region that want to thwart his plans for Saudi Arabia [SA} & the Middle East [ME] such as Iran, Turkey, Syria, Russia, Quatar...he also has people inside SA itself that don't like his reforms or agenda.
So when the narrative gets presented that "The only way Khashoggi could end up dead is on the direct orders of MbS" you might want to keep this in mind.
There are SEVERAL ways Khashoggi could end up meeting his demise at the hands of Saudis not working on the orders of MbS.
Powerful factions within SA, several of whom do not like the Crown Prince's reforms or the fact he was promoted to his current position ahead of others in the royal family, could have done this in the hopes of pinning it on MbS.
Too many false/fake news stories came out of Turkey in the past week to say anything further. This latest news comes just after it was reported Pompeo heard an audio of the killing that was quickly walked back in less than a day.