Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.
This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only intended at the moment of their issue as conditions quickly change. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Contact us: support@philstockworld.com
© Copyright - PSW, LLC.
2024
December 13th, 2017 at 11:03 am
Well I'll just continue to talk to myself in here…
The mention of tulip bulbs is interesting to me because interesting the concept of comparison may be deepluy flawed. "Tulip mania" was described in a popular book 200 years after it occurred to which wiki has to say "Mackay claims that many such investors were ruined by the fall in prices, and Dutch commerce suffered a severe shock. Although Mackay's book is a classic, his account is contested. Many modern scholars feel that the mania was not as extraordinary as Mackay described and argue that not enough price data are available to prove that a tulip bulb bubble actually occurred"
Tulipmania is probably very much an apocryphal account "often used metaphorically to refer to any large economic bubble when asset prices deviate from intrinsic values."
My posting tries to describe just what an "intrinsic value" for crypto might be. I was excoriated for suggesting that crypto cannot be compared to metrics used to value stocks, since they are not stocks, or currencies, since they are not currencies, but in fact this "new thing" that has curious aspects of both of the former, couple with a new internet-based system of trust that didn't exist before it was created, and this new value does not have a known upside.
I might be completely full of shit, and might be completely wrong looking forward but I'v been somewhat right, even if for the wrong reasons until now. But when I hear "tulips" I immediately move on. What grasp on solid fundamental reason and accountability to comparing a modern event to an children's fairy tale have to do with discussing the reality of money in a dynamic, changing, modern era?