As RIP said that's correct. Never really bothered me because the way I see it two things would happen in the future. BTC becomes widespread enough that Robinhood would have to adjust to allow BTC to be removed/used from their platform. Or I sell my BTC on Robinhood and use that money to purchase the same BTC on another platform. As for now simply holding crypto is good enough for me.
The second part of that tweet is actually more interesting. Elon came out and said if the large dogecoin holders sold a good bit of their postion, doge would have his full support. And speculation ran on who owned the largest doge purse and internet sleuths linked it back to Robinhood. I guess this is them denying it.
Not completely off topic because it's about investing, but it's about a shady incident involving a wealthy grandmother and one of her sons and his two sons. Interesting read. Thought some here might want to take a look. *Note, Bloomberg also provides a narration of the article you can listen to if you don't want to read it. At 93, She Waged War on JPMorgan—and Her Own Grandsons Beverley Schottenstein said two grandsons who managed her money at JPMorgan forged documents, ran up commissions with inappropriate trading and made her miss tens of millions of dollars in gains. So she decided to teach them all a lesson. By Tom Schoenberg February 17, 2021, 1:00 AM PST Beverley Schottenstein was 93 years old when she decided to go to war with the biggest bank in the U.S. It was a June day, and the Atlantic shimmered beyond the balcony of her Florida condominium. Beverley studied an independent review of her accounts as family and lawyers gathered around a table and listened in by phone. The document confirmed her worst fears: Her two financial advisers at JPMorgan Chase & Co., who oversaw more than $80 million for her, had run up big commissions putting her money in risky investments they weren’t telling her about. It was the latest red flag about the bankers. There had been missing account statements. Document shredding. Unexplained credit-card charges. Although some relatives urged Beverley not to make waves, she was resolute. What the money managers did was wrong, she told the group. They needed to pay, she said. Even though they were her own grandsons. And pay they did. With the help of her lawyers, Beverley dragged her grandsons and JPMorgan in front of arbitrators from the Financial Industry Regulatory Authority, or Finra. She sought as much as $69 million. After testimony that spread over months and ended in January, the panel issued a swift decision in Beverley’s favor.
Had a friend pass this off to me yesterday. His brother works in the medical field and sent him this. I haven't had the chance to do the research myself, but knowing my friend and his circle of friends, I'll be looking into these more deeply to see if they are worth investing in SENSEONICS. (SENS) (They developed a 180-day implant glucose monitor that you can check your sugar (for diabetics) with your smart phone with out pricking your finger. (DEXCOM ($400 per share price) has one too, but it only lasts two weeks). They are currently selling their 90-day system in Europe and making good $$$$. They also just signed a deal to get insurance coverage so that People czn actually afford this new technology. OCUGEN (OCGN) Biotech company that designed Covaxine....a treatment for Covid 19. Used in India, Brazil, and Canada. They have a deal to commercialize the drug in the US, but Waiting on FDA approval. Benefits compared to other vaccines? (Moderna and Phizer). Covaxine does NOT need to be supercooled in below zero temps And has been proven safe to use with children. ENDRA HEALTH. (NDRA) They developed an ultrasound machine that can detect different forms of liver and lung cancer. (Sounds like not a big deal, but normally the Dr. would have to give you an MRI to investigate such issues.....which costs 50x more $$$$$) Diffusion Pharmaceuticals. DFFN Biotech company that is putting all of their money into treatment of cancerous tumor research....in terms of re-oxygenating the blood and tissue around the cells so that chemotherapy can be more Effective in fighting the cancer.
My pet theory is since Bitcoin isn’t actually used for anything, there’s basically no price sensitivity. People will buy at $500 or $50000 because there’s no practical difference from the side of the purchaser. You’re just moving the decimal around the computer screen. Regardless of the price of the coin, it’s just viewed as $500 in Bitcoin. Add in speculation that it will just keep going up, and you have the recipe for a gigantic bubble. Hard to imagine, but I don’t see any reason it can’t go to a million dollars a coin. Incidentally, I think this is also one of the reasons for the bubbles we are seeing in stocks like GME. Allowing fractional ownership of shares just completely decouples your mindset from buying a discrete item (a bit coin, a share of stock), and transforms it into the idea of just converting your money in an different type of money that always goes up in value (until it doesn’t).
I took a turn on bitcoin, and crypto in general, when Elon/Tesla made their 1.5 billion dollar purchase of BTC. It's hard to see that as a hedge for when they start accepting bitcoin as payment. Add in that most banks and financial institutions will be accepting and dealing in crypto in the near future. So since it will be being used on a wide scale soon enough, I think the price sensitivity will level off. For now it's just an untethered abstract and I don't think anyone can predict what it will do. A million? Sure. Crash back down? Sure. I agree that owning fractional anything does remove one from any sense of ownership in a company and does make it just another form of currency. I don't know if that is a bad thing however.
When you guys are trading stocks, how much value do you give the P/E score when making a decision on whether or not to invest in it? I read somewhere that the lower the score is, the more potential there is in the company?
Historically, a key number to look at. Today, not so much - depending on what vertical you're looking at. Look at the PE and EPS of companies like Tesla v the rest of their industry. There's a lot of speculation involved in potentially disruptive areas like biotech, EVs, etc. With the bubble we've got, a lot of traditional views will keep one from realizing a lot of gains.
Exactly. I was going to say something similar. With long term stocks I generally look at the numbers. With short term stocks it seems much more about hype, news, industry, and all the stuff that probably shouldn't really matter.
I own Bitcoin and I don't view it as a currency or commodity but rather a store of value. Currently, I don't plan on ever selling my Bitcoins. I plan on passing them down to my kids so they can have them when I am no longer here. My thinking is this is the best hedge against the dollar that there is. Some people call it insurance. You will always be able to calculate the value of a Bitcoin. It's basic division. 1 Bitcoin / 21 million = Bitcoin value Since The Fed has an endless printing press when we apply this same formula to the US dollar it looks like this $1 / infinity = $0 So if you're are looking at saving your money in the USD and you have a goal of saving $1,000,000.00....how much money are you really going to have to save to earn $1,000,000.00? It will probably end up costing you a million dollars to save that million dollars so what have you accomplished? Companies like Tesla are looking at cash on their balance sheets like it's a depreciating asset, so how do they change that cash into an appreciating asset with the maximum return? The answer is Bitcoin. This is why there is a wave of money coming into Bitcoin in particular but also other crypto currencies and DeFi projects. The blockchain technology is going to completely change the way we bank, buy real estate, run supply chains, healthcare, etc. You can already place Bitcoin and other crypto in wallets like Blockfi where you can earn interest (6%) on your Bitcoin and even borrow against your Bitcoin if you need it for liquidity. They are even coming out with a Visa Credit cards where I could spend my crypto and earn rewards in crypto currency. For those that are looking for insight and tools to learn and trade crypto currency volatility tradethechain.com is a good source. I also would recommend having multiple exchange trading accounts along with multiple wallets. Yes, you will need to remember passwords which is why I also recommend a crypto notebook like this Stonebook | Best Notebook for Crypto | Hardware wallet | Shieldfolio – Shieldfolio Inc. Basically don't trade all your crypto in one place and don't store all your crypto in one wallet. There also probably won't be another opportunity in our lifetime at this kind of opportunity. Someone asked for price predictions on this current bull run for Bitcoin I'm guessing we see between $70k - $100k Bitcoin this year between now and the end of the year. Keep in mind there will be a "correction" and crypto corrections are not like the 10%, 20%, 30% stock market corrections...crypto corrections are more like 50%, 60%, 70% corrections which is when the real buying opportunities take place.
One more thing on crypto. For those people that are not comfortable getting on crypto exchanges, wallets, etc. You can play/trade Bitcoin and Ethereum in the stock market with Grayscale funds GBTC for Bitcoin, ETHE for Ethereum and LTCN for Litecoin. This will allow you to trade from etrade, ameritrade, Robinhood, etc.
Diving into these a bit more I like what I see from Endra and Senseonics. Endra is expecting FDA approval any day now and the firm they hired to assist has a 100% approval track record. They're both relatively cheap. Obviously I'm not giving financial advice, just reporting what I'm thinking and what I'll be doing in the morning. Looks like the window on Ocugen may have passed.
