Stable coin ? Unstable advice ?
July 22, 2021 Leave a comment
This needs to be highlighted….
the bloke in this article says in December 2000 that Bitcoin should reach $400,000.
Then 6 months later (only 2 weeks ago) he suggests that Bitcoin should crash to $10,000.
Scotty, mate, versus your $400,000 call, that’s comparable as saying it’s worthless.
He probably should be shown the door.
To be clear, I’m no fan of cryptocurrency. I write about as a speculative instrument (notice, I’m not even calling it an asset) and use it assess risk and the temperature of the fluffy end of the market.
Today, Scott makes a call that the S&P 500 will fall 15% by September or October and barely below its 50 week moving average.
Just for kicks, I disagree for various reasons (p.s. I don’t need to make a wager with him, it’s not a pissing match)……but that’s hardly a ‘ballsy’ call for the investing boss of a firm with $270 billion under management.
A 15% call merely brings the S&P 500 to its March 1st level. It retraces 62% of its 33% rally from November 1, 2020.
This is not a character assassination, but it should make many question where and how their money is being invested and managed.
July 22, 2021
by Rob Zdravevski
rob@karriasset.com.au
rob zdravevski's blog 