The largest Ponzi ever

The largest Ponzi ever

The largest Ponzi ever 150 150 JP

I’ve written a lot about cryptocurrency (still a misnomer) and you can read from the list below. It’s still a trillion dollar business collectively. At one point, I really did like the idea of digital assets and in some cases it still makes sense, just not a the prices people are paying right now.

In 2015, I thought Bitcoin was huge buy at around $200 based on all the VC money getting into it. I still thought it was a fraud as money and even its original thesis was complete garbage.

Anonymous? Nah.
Better transaction? Not even close.
Limited Supply? So What, there are thousands of coins now.
Money? Be careful. Only a sovereign government can print money.

The reality is that it’s a huge ponzi scheme with no real value. Debate it all you want. Even if it becomes the money of the internet, it’ll still be a ponzi. The video below sums it up pretty well straight from the mouth of crypto’s largest exchange FTX. Also, check Berkshire Hathaway’s annual meeting for updates on Buffett and Munger’s thoughts.

Everyone building a crypto company is trying to make a market out of whatever niche they’re focused on. It’s all built on blockchains and its monetizing parts of life that may not need to be monetized, and unfortunately, it’s complete bullshit. Maybe I’m wrong and in the coming years or decades blockchain will revolutionize the internet bringing to fruition web3. Doing this only adds more complexity than necessary to an already complex world. The truth is that blockchain may be good for the banking industry, or to the financial sector as a whole; however, a decentralized ledger that’s public seems like a really bad idea for most businesses, especially financial ones.

My Story

I’ve spent 20+ years analyzing and forecasting complex assets across the capital markets – deals in public and private equity, real estate, and commodity markets. It started with managing money for HNW clients and as the internet became more prominent, moving on to help DIY investors generate alpha and then using the insights to advise business leaders. Through the years I’ve developed a deep understanding into what actually drives peak business and financial results. More importantly, I’ve spent two decades proving that it works. Here’s how…

Research Services

From 2002 to 2018, after a brief stint as a stockbroker, I published a newsletter and coached a small group of affluent clients. I created and wrote the premium newsletter at gurufocus in 08/09 and also sold research to brokers at Merrill, Morgan, Goldman.

High Yield Book

In 2013, I took my system for analysis and created a step-by-step guide to finding and buying the right stocks. At that point it was based on 12 years and 20,000 hours of research and to my knowledge it was the first of its kind, but maybe that’s just a bit of puffery.

It’s free, no email required.

The next chapter…

After more than a decade of success with investors I felt that the disconnect between Wall Street and Main Street only seemed to grow larger, so I began to refine the strategies and best practices into models for better business development, turning them into tools for operators.

In 2015, I started a company called Key Bridge since working with business leaders had become my main focus. In late 2019, the model shifted to a membership and a pandemic later helping build better assets to advance the greater good has become the mission. Join me in the pursuit…

p.s. if you’d like to go deeper into the past insights, I’ve written more than 500 financial articles, most of which have been picked up and seen on Forbes, Fortune, Yahoo, CNBC, Morningstar, SeekingAlpha, et al. Admittedly, none of these ideas ever made it to the top of my list. Start Reading →