The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
OK one last post...
@FireAnt, not bowing out of Argo, I meant this forum. Holding Argo until end of year which is when I think Bitcoin may peak. Will reassess the situation closer to the time (still have 16th/17th December as possible pivotal moment for anyone that remembers...). All the best guys, it's been fun here. Bye bye!
Director sells were public knowledge and anyone could have followed suit?
It's always the fault of the CEO when prices are not what where we want them. Or the fault of rampers who promised this or that. Then when prices rise, suddenly CEO is god and we rush to SpecSavers to buy some PW style glasses cos we want to be him...
Time to take some responsibility for own actions I think? I topped at £2.30 back then. And topped up recently at £1.15. No one forced me. I do not blame anyone and take full responsibility for my own actions. Both wins and losses are all mine.
Bristolian made a comment yesterday that 80% of folks struggle to make money in markets. Makes me wonder if 80% of posts are from people who don't understand the game or ever will. So is there any point in reading majority of public boards? I'm not so sure anymore. I'm bowing out now for good. Good luck to the 80%.
Pearls is buying in. Hold on to your stamps.
May as well join in on the ramping since I have some of this. Don't even really know what it does to be honest, but it looks good on a technical level offering a safe entry point and good risk/reward basis. When BTC hype returns, it's very likely the NFT narrative will return too at some point dragging the likes of company upwards based on sentiment if nothing else.
Lots of chatter today about preferring fundamental facts/figures over opinions, but from my own experience at least, technical squiggly lines and speculating about future narratives, is as equally important as cold hard facts of the sguiggly numbers.
End of the day the only important numbers are our own Profit/Loss figures, and for that a good entry/average cost is paramount. You can find the best company in the world, but if your average cost is too high, then what the company is forecast to do next year is less relevant. Buy low, sell high and all that.
Yes I love the markets too. It's like one big game, playing against both yourself and everyone else in the world. That RNS is like scoring a spectacular goal in a football match having spent hours on the training ground practising the same free kick over and over. Hard work, passion, determination, self confidence and patience usually pays off in the end. A bit of luck helps too.
Regarding the psychology of decision making, I suppose emotionals are likely the biggest drivers. Fear and greed etc. You're probably familiar with the Wall Street cheat sheet thing: https://milanaryal.com.np/uploads/20200317-the-cycle-of-investor-emotions.png
But it doesn't how matter how much experience we have in the markets, we all have a tendency to go through a range of emotions which at times can be difficult to control (or even recognise). Suppose that's why one should pound cost average every month into an index tracker and forget trying to time the market or pick individual shares. But where's the fun in that ;)
Some great advice Bristol. Navigating the markets can be tricky and is very much a life long journey of self discovery and self mastery. It's a marathon not a sprint and all that, but I get the impression many people want to take quick shortcuts or worse, set up fake sign posts on the road
Not sure if this has been posted already, but is relevant reading:
https://markets.businessinsider.com/news/stocks/bitcoin-mining-stocks-btc-price-fundstrat-riot-marathon-nvidia-2021-7
Updating this thread with a tweet I just remembered, circling back to the idea of narratives/Shill/Fud, Fake news, agendas, etc. You may be familiar with Raoul Pal, former hedge fund manager, founder of Real Vision and friends with financial heavyweights such as Paul Tudor Jones and Stan Drukenmiller. This was his tweet made on May 8th 2021:
"Not sure but every single investor I have spoken to is shifting allocation to ETH over BTC. All our mutual friends and that billionaire finance circle..."
https://twitter.com/RaoulGMI/status/1391035543845285889?s=20
Now if you look at the Ethereum chart and check the price on that particular date you can see ETH closed at around $3950. Look right and you can see ETH went on to make its all time high 4 days later peaking at approximately $4350. It's been bleeding ever since.
So? Now read his tweet again:
"Not sure but every single investor I have spoken to is shifting allocation to ETH over BTC. All our mutual friends and that billionaire finance circle..."
Check the chart again.
Tell me - do you believe all his finance friends and billionaire associates were buying Ethereum around the same time of his tweet? At $3950? Buying Ethereum close to all time highs? Buying Ethereum after a huge parabolic move up? Buying Ethereum just a few days before it's $4350 peak?
Something's not right here methinks.
He and his hedge fund mates and billionaire circle are either frigging noobs buying the top. Or he was deliberately shilling the top for liquidity to exit and dump on his followers. I can't prove either way. But I lean towards the latter. It wouldn't surprise me. But it disappoints me if true. I like the guy. If you ever watch his videos you might do too. Charismatic, articulate, intelligent and pro crypto. Indeed, he was one of the first to start shilling Bitcoin as the ideal inflation hedge. But that's another story.
"Wait, so you think some guy happened to make a tweet close to Ethereum's peak and somehow it was a deliberate attempt to dump on people?"
Yes. I do actually. It's no different to the hedge fund guys/bankers making positive noises in the media about Bitcoin not long after they bought in. It's the same thing in reverse. Happens all the time. It's part of the game. It's the same game the derampers/rampers play on these boards. Some of you lot have not buggered off into your safe space because you couldn't handle a handful of derampers. Oh dear. You got nut-megged by Pearls and he just scored a goal into the top corner. 1-0 to Stamps United.
It's not only the BTC manipulation video or Raoul Pal's tweet, there are a few things I've noticed where players are playing the game. Big players, little players, the game is being played on all different levels. Just sayin'. If you cant see the sucker at the poker table, you're the sucker, etc. Anyway, I'm popping to Tesco to buy some coffee and tin foil. Over and out.
Western media have been seeding anti China propaganda for years now. When I think China, my brain has been programmed by the BBC to think they are the enemy. Another case of narratives to suit agendas. No different to the once popular notion that because of institutional adoption, Bitcoin's volatility would decrease and the price would never dump again. Oops.
False alarm. Stand down, soldier!
Sorry for the slightly alarming title, I just copied it from the video...
https://www.youtube.com/watch?v=FHVqYGvb74c
Interesting video about Bitcoin manipulation and worth watching to understand that sometimes price can be just an illusion, masking various shenanigans occurring underneath the surface. Also touches upon something I mentioned yesterday regarding false narratives: don't always believe everything that (((they))) tell you, irrespective if the news is bearish or bullish. People/groups often have agendas both on a macro or micro level, whether it's merchants of doom or gardeners sowing illusions of a greener grass on the other side. Stay frosty. Good luck.
Not sure if the inflation narrative is just a meme? Not to deny that prices of goods/services are increasing and money printing on the rise, but I wonder if the "Buy Bitcoin to hedge against inflation" is just a convenient bitesized easy to understand narrative seeded by bigger players (BTC whales, particularly banks, hedge funds, institutions) to convince the masses to buy. The last decade was a period of low inflation with concerns of deflation, but this didn't stop Bitcoin from becoming the best performing asset class of the decade. 2017 had one of the lowest rates of inflation of that decade and Bitcoin jumped from $900 to $20000 that year. Maybe it would have went higher with the threat of inflation? Or not? Money printing/fiat devaluation has been occurring for decades already. It's accelerated over the years, but whether in inflationary or deflationary environments, people have always needed a place to park their money somewhere and watch it grow. Stocks, property, precious metals...even bloody stamps. If stamps offered greater potential upside to Bitcoin, I wonder if influential players (who having already accumulated a bunch) would start appearing on TV talking up stamps as the best hedge against inflation? Maybe Pearls would be invited on CNBC as an expert dressed up in a large shoulder pad suit advising which is the best stamp to sniff? Not sure. What I am sure of is that narratives can be spun both ways. Shill or Fud. Ramp or Deramp. Sometimes subtle, other times obvious. But often there's a tendency to gravitate, accept and parrot headlines & narratives that align with our current thinking or investment decisions. Confirmation bias I suppose. I have no idea. Just sharing another brain fart. Sometimes when I start typing I just ramble on with no idea of what I'm talking about. I'm not a macro economist, just a regular 5hitposter. However I do know it's not always the person with the highest IQ or the most qualified macro economist that has the biggest success in investing, so there's still hope for me yet haha. Good luck.
There's a common misconcepton about charts and that they cannot be used to predict the future. This is true. However, charts are NOT meant to predict the future, they are to be used for analysis only - hence the term 'Technical Analysis'.
Some people DO use charts to make future predictions. But if the prediction turns out to be wrong, it doesnt mean that charts/Technical Anaylsis 'doesn't work', it simply means the prediction was incorrect. There's a difference.
Some anti-chartists prefer 'Fundamental Analysis' using numbers of a company's balance sheet to forecast future earnings for example. Some of these forecasts can also turn out wrong. But that doesn't mean Fundamental Analysis 'doesn't work' - it simply means the prediction was incorrect.
Whether working with numbers on a spreadsheet or lines on a chart, both are merely forms of information/data and have no opinion. How people interpret the information is what's important. (And quite often people have differing views given the same set of information anyways...).
Here's the kicker though for those who swear by numbers over lines. Quite often the lines/technical indicatosr of charts are derevied from mathematical equations of a set of numbers. So squiggly lines are really just squiggly numbers. They are one and the same but presented in a different format.
I personally look at charts frequently but understand their limitations but also recognise the benefits. For those who complain about regularly buying at highs or getting spiked, a basic understanding of charts patterns and technical analysis might be useful to help avoid repeating the same mistakes in the future.
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Question: I couldn't be bothered to read this giant wall of text, what is the summary of this rambling?
Answer: Don't dismiss charts because they look like random squiggly lines. Charts are an alternative form of data, and it's beneficial to consider all types of information to better aid with decision making.
Pearls got busted hahaha. Try harder next time old chap.
https://www.youtube.com/watch?v=qVB4a8IxZcc
@ibuystocksdie, here's the same story but with the BTC value in the headline :)
https://cointelegraph.com/news/dj-david-guetta-puts-luxury-miami-pad-up-for-sale-will-accept-38-bitcoin-for-it
P.S. I just found https://twitter.com/DocumentingBTC and think it's a great feed to keep up to date with latest Bitcoin developments. One of the best!
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www.sniffmystamp.com
I'm a bottom feeder. Pearls is a parasite. Thanks.
Nobody who bought #bitcoin and Hodled for 4+ years (200 weeks) ever lost money, EVER.
https://twitter.com/100trillionUSD/status/1398222204123426816?s=20