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Hi Everyone,
Hope you all had a fantastic weekend and an amazing holiday. I'm finally writing to you from our new place. I will try to post pictures on Instagram if I ever remember my password, or maybe TikTok ... whatever the kids are using these days.
I may never get around to installing the latter, as it seems the U.S. is now considering banning the video-oriented Chinese social media app. According to the U.S. Secretary of State Mike Pompeo, this is due to Chinese spying on American Citizens who've downloaded the app.
It's not like Facebook, YouTube or Twitter are any better. I'm pretty sure that many apps that we use on a daily basis are infected with malware.
At the same time, we must all be wary of censorship issues. Google's subsidiary is increasingly removing videos that don't conform to their worldview, including a lot of crypto content, and we think that's an issue worth standing for. |
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Brrrrrrrr.
The age of the brrrrrr is firmly upon us, and we can see it manifesting in the clear inflation of financial assets, especially big tech. All the FAANGM stocks are doing great right now and are clearly detached from the reality of the global pandemic.
One could say that the likes of Facebook, Amazon, Apple, Netflix, Google, and Microsoft are not negatively affected by the virus, but then you might have trouble explaining why the share prices have all experienced double-digit gains since the start of the year.
I mean, has coronavirus actually improved the outlook for these companies? Or, did their value otherwise grow by that much during this time? |
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If you think that's a bit funky, check out Tesla. The stock is up more than 500% in the last year. I don't think anyone really disputes that this valuation is completely unrealistic. They'd basically need to become the world's largest car maket within the next few years in order to make it a worthwhile investment. |
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The virus continues to spread, as the number of confirmed cases keeps rising. Different locations are handling it in different ways though. In Melbourne, Australia, a new citywide lockdown has gone into effect for at least another six weeks.
In New York, on the other hand, they're deliberating the best way to re-open the education system. Central banks, however, have no such deliberation. The printer keeps going brrrrrrrrrrrrrrrrrrrrrrrrrrr. ... |
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In other news...
It's just come out that the lovable child actor turned crypto enthusiast Brock Pierce is now running for president of the United States on a snowball's chance in the Mojave desert ticket.
Apparently, Kanye West is running as well, but to be frank, he doesn't really stand a chance either. The United States is also known as the land of the free and the home of the brave, and I'm discovering every day how fitting this title is.
Both West and Pierce will be rewarded for their decision to run, even though they won't win. Many have speculated that even U.S. President Donald Trump initially ran as a publicity stunt to drum up business for his hotels and other ventures. As an investor in dozens of crypto startups, no doubt this bid will be good for bitcoin.
Also, it's inspired me to do some thinking as well. I've now put out a poll on Twitter to check what you all think. Should I run for president?... initial results are not very promising. Oh well, guess I'll just stick to what I'm doing.
Have an awesome day!! |
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Mati Greenspan Analysis, Advisory, Money Management |
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