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Anybody Buying Yet? Where’s the Bottom?

TOGIE said:
what are these "measurement adjustments" you speak of?
Click to expand...
Sitting in hotel waiting out a storm before continuing my unicorn hunt.
Here is the adjustment (circled at bottom). It should continue to be a negative contributor for the next 12 months, and at 8% it is a sizable contributor to the total CPI, especially Core.
B2D34615-50C7-49D9-81F1-7CB13F28CB0D.jpeg
 
neffa3 said:
Gosh darnit... is the sale over? I was hoping for a few more month (or years).
Click to expand...
Hard to tell where the bottom is. Jeremy Grantham thinks we're in for an annual return of -6% through 2028. His justification is everything regresses towards the mean and we've enjoyed tremendous growth over the past few years.

I remember the dot com crash and how things went sideways for nine or so years. I am (was) prepared for that scenerio again. Compounding reinvested dividends is fun.
 
BigHornRam said:
Crypto is looking to get a lot cheaper.

www.coindesk.com

'FTX Has Been Hacked': Crypto Disaster Worsens as Exchange Sees Mysterious Outflows Exceeding $600M

FTX officials appeared to confirm rumors of a hack on Telegram, instructing users to delete FTX apps and avoid its website.
www.coindesk.com www.coindesk.com

Wild wild west "investing" in that house of cards.
Click to expand...
Yet another reason to not store crypto on an exchange. There's a reason FTX was moving crypto to a cold wallet, it should've been there to begin with and then none of this would've happened.
 
From Fortune Mag:

Sam Bankman-Fried, 30, founded one of the world's largest crypto exchanges, FTX. He launched it in 2019 with some friends in the Bahamas, and scaled it to a valuation of more than $30 billion last summer. He earned the trust of top investors like Sequoia Capital, celebrities like Tom Brady, and even regulators in DC. His net worth topped $26 billion by some estimates, and he became one of Joe Biden's largest donors.
At the time, SBF—as he is known in crypto circles—seemed like a white knight of a volatile industry enduring a steep downturn, building the closest thing to a blue-chip blockchain company users could rely on. As he swooped in to buy suddenly undervalued companies, some compared his investment style to Warren Buffett.
We noted in our cover story by Jeff John Roberts that SBF was soaring—but that he could also crash and burn.
His downfall was swift. It only took 48 hours and four tweets from top rival, Binance founder "CZ" Changpeng Zhao, to crash Sam Bankman-Fried's sprawling empire.
On Friday, FTX and Alameda Research, his two intertwined companies, filed for bankruptcy.
Bankman-Fried resigned as FTX's CEO.
So, did SBF belong on our August cover? I'd say yes, unequivocally.

 
BigHornRam said:
Anyone going to do jail time here?

www.thestreet.com

Crypto Billionaire Bankman-Fried Loses Entire Fortune in One Day - TheStreet

The 30-year-old billionaire was forced to sell his crypto firm empire on Nov. 8 to a major rival due to a cash crisis.
www.thestreet.com www.thestreet.com
Click to expand...
I don't know, I'm not schooled enough in crypto to understand all that went on. I do know that the article references Binance bailing out FTX and that didn't end up happening. I also know enough to know not to store your crypto on an exchange, that's like rule #1 because somebody else has access to your money and there's virtually no oversight. Store crypto on a hard wallet so you keep possession of it.

There are swindlers in every business, including some of the biggest businesses in the world. Crypto isn't alone in that phenomena.

I also know that crypto has many applications that are subject to The Greater Fool Theory (Doge), but I believe there are other applications (like Ethereum) that do produce a tangible product and benefit. If you were to poll the top kids coming out of MIT right now, you'd find many of them want to work on Web3, for example. Another point of interest, SBF, the person referenced in the above article, went to MIT. These are smart people involved in crypto.

There is truth to the notion that Bitcoin has no real value, other than the idea that somebody else will pay you for it at a later date. Of course, the same can be said of gold as a security against the failure of the monetary system (or USD itself, for that matter)... or even Fine Art. There are paintings worth tens of millions of dollars, but they really have no intrinsic value or produce anything of value. They merely exist, along with their astronomical valuations.

I don't own any Bitcoin, but I acknowledge that people far smarter than me see a future in it. I also know that very smart people love Web3 and Ethereum.

Here are the YTD prices of Bitcoin, the world's most valuable crypto, and Tesla, the world's most valuable company. They've both lost over half their value this year. If I had to buy one of them right now, it wouldn't be Tesla.


Screenshot_20221112_194625.jpgScreenshot_20221112_194550.jpg

www.cnbc.com

Bitcoin's volatility falls below Nasdaq and S&P 500's for first time since 2020

Bitcoin volatility fell below that of both the Nasdaq and the S&P 500 for the first time since 2020, according to Kaiko.
www.cnbc.com www.cnbc.com
 
This week big retail sector up to bat:

All eyes will be on the retail sector next week with big reports due out from Home Depot (NYSE:HD), Lowe's (LOW), Walmart (NYSE:WMT), Target (NYSE:TGT), and Macy's (M). The retailers step up to the earnings plate with investors looking for signs of the health of the U.S. consumers and just how promotional the holiday season may be with inventory an issue. Economic reports due out include a broad update on October retail sales and a read on producer prices. On the geopolitical front, President Biden will meet Chinese leader Xi Jinping on the sidelines of the G20 Summit. White House officials said the talks will cover a range of regional and global issues. Some of those discussions could have stock market implications even if no formal agreements are made. On the corporate calendar, General Motors (NYSE:GM) and Procter & Gamble (PG) will hold investors events that analysts have circled as potential share price catalysts.


seekingalpha.com

Wall Street Week Ahead

Track this week’s market catalysts: Big Tech earnings, Fed rate decision, and core PCE inflation data—plus IPOs and key reports.
seekingalpha.com seekingalpha.com
 
grizzly_ said:
I don't know, I'm not schooled enough in crypto to understand all that went on. I do know that the article references Binance bailing out FTX and that didn't end up happening. I also know enough to know not to store your crypto on an exchange, that's like rule #1 because somebody else has access to your money and there's virtually no oversight. Store crypto on a hard wallet so you keep possession of it.

There are swindlers in every business, including some of the biggest businesses in the world. Crypto isn't alone in that phenomena.

I also know that crypto has many applications that are subject to The Greater Fool Theory (Doge), but I believe there are other applications (like Ethereum) that do produce a tangible product and benefit. If you were to poll the top kids coming out of MIT right now, you'd find many of them want to work on Web3, for example. Another point of interest, SBF, the person referenced in the above article, went to MIT. These are smart people involved in crypto.

There is truth to the notion that Bitcoin has no real value, other than the idea that somebody else will pay you for it at a later date. Of course, the same can be said of gold as a security against the failure of the monetary system (or USD itself, for that matter)... or even Fine Art. There are paintings worth tens of millions of dollars, but they really have no intrinsic value or produce anything of value. They merely exist, along with their astronomical valuations.

I don't own any Bitcoin, but I acknowledge that people far smarter than me see a future in it. I also know that very smart people love Web3 and Ethereum.

Here are the YTD prices of Bitcoin, the world's most valuable crypto, and Tesla, the world's most valuable company. They've both lost over half their value this year. If I had to buy one of them right now, it wouldn't be Tesla.


View attachment 249808View attachment 249809

www.cnbc.com

Bitcoin's volatility falls below Nasdaq and S&P 500's for first time since 2020

Bitcoin volatility fell below that of both the Nasdaq and the S&P 500 for the first time since 2020, according to Kaiko.
www.cnbc.com www.cnbc.com
Click to expand...

IDK? Musk is a way better con man than SFB.

foreignpolicy.com

Crypto's Boy King Got Dethroned Overnight

Sam Bankman-Fried sold himself as a savior—but was sitting on a hollow company.
foreignpolicy.com foreignpolicy.com
 
It may have been mentioned in the links above, but I read that somewhere between $1 and $2 billion is missing and unaccounted for.
 
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