(imho) If crypto wasn’t scam-infested already, prepare for a new level—complete w/ secondary risks, liquidation cascades, market manipulation, fear-contagion & a higher probability for a market crash. The night-watchman was paid off, & he just walked away.
Dick Durbin (Senator from Illinois):
“While the Trump family rakes in billions from their crypto, the Trump Administration has removed all attorneys from CFTC’s Chicago Division of Enforcement…”
(Commodities Futures Trading Commission)
www.durbin.senate.gov/newsroom/pre...
I’m staring at this—imagining the possible consequences.
My lesson is—can’t read anything into what I observe. Let it ride. Build new cash. Keep eyes open.
crazy
“South Korea's Kospi stages a sharp rebound, surging over 12%, on course for best day on record”
“Operation Epstein Diversion”
Senior data analyst ($260 salary) w/ a friend stole $1.2M. They split the “ghost-employee“ paycheck. Hopefully someone at the top is scrutinizing payroll & tightening things down.
“American Bitcoin” -90% market value
“The crypto wipeout that vaporized $1 Trillion in market value over the past 3 months has afflicted all corners of the industry—including the numerous crypto ventures tied to President Donald Trump's family.”
EWZ
That’s amazing to me. (overreach)
A top-tier risk we should’ve been working to mitigate without interruption. The U.S. gov is incompetent—& I’m afraid it’ll cost us big. We’re distracted.
off hours?
2/2
No matter your short-term returns, make no mistake—this is the correct mindset. We have permanent capital, zero redemption risk, can drift between styles & move between borders.
Things can change in a moment; don’t be shaken.
“The ability to just let go of short-term performance is one of the greatest advantages an individual investor has over institutions and fund managers.”
(Sidecar Investor)
1/2
“Citi: $NVO's trial design misstep hands advantage to Eli Lilly.”
“Novo's CagriSema showed 23% weight loss vs. 25.5% for $LLY's Zepbound. Management admits earlier trials weren't fully optimized, w/ 43% of patients never reaching the highest dose.”
disappointing, but an overreaction
The patient collector of fundamentally well-priced shares watches, avoids rash decisions, accumulates, knowing time is the arbiter of returns.
…now—cool your d*cks.
people coming ‘round ya’ll
Bear-porn? Maybe…
Even BTC miners are having doubts.
“There are a handful of excellent books on accounting that are worth reading carefully.“ ~Mauboussin
“Reflections on the Ten Attributes of Great Investors”
2/2
• Credit Suisse:
• Michael J. Mauboussin
• link to paper, 2016 forum.valuepickr.com/uploads/shor...
"Great investors don’t get sucked into the vortex of influence. This requires the trait of not caring what others think of you, which is not natural for humans...”
~ Mauboussin
1/2
link to white paper: “Reflections on the Ten Attributes of Great Investors” ⬇️
Let’s talk more about specific names at some point. I can imagine putting together an equal-weighted group of satellite holdings in software. Small %.
We should compile a list of defensible names here. I think at the right moment in time, a basket approach could work.
(investing in software)
6/6
I misspelled Nicolas Bustamante’s first name. He published this yesterday on X and it seemed to get some attention. If anyone has opinions—throw them out.
5/5
“Vertical Software, Are We Cooked?”
by Nicholas Bustamante
4/5
“Vertical Software, Are We Cooked?”
by Nicholas Bustamante
3/5
“Vertical Software, Are We Cooked?”
by Nicholas Bustamante
