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Speculative Bubbles in the 21st Century & Asymmetric Upside
If the Fed jacks up interest rates, growth assets could tank short-term. Ham-fisted crypto regulation is a legitimate concern. Markets never go straight up. Even though global equities and the Nasdaq have compounded at a roughly 10.5% CAGR and ended up and to the right, there were a lot of bumps along the way. Please don’t mortgage your house and Y... See more
notboring.co • Compounding Crazy
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Michael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
In March 2020, a Silicon Valley engineer named Anatoly Yakovenko launched a new and better blockchain that offered a solution to maybe Bitcoin’s biggest weakness as a means of exchange: it was way too slow. Bitcoin could only validate seven transactions a second. The new Solana blockchain promised to process up to sixty-five thousand transactions a
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
History, in this instance, does teach a lesson: Although the castle-in-the-air theory can well explain such speculative binges, outguessing the reactions of a fickle crowd is a most dangerous game.