The Crypto World in Charts, Tesla Versus Rivian and The Year Ahead at Stocktwits – Sunday Reads and Listens
Good morning…
Last night, Ellen and I went to the opening night Phoenix Suns home game with Max and his girlfriend Amy. Max met Amy the modern ‘degenerate economy’ way on Hinge in London, England (I met Ellen the old fashioned ‘horse and buggy’ way via a blind date) . Amy and Max have been together since that first date and this was Amy’s first ever US sports event. She loves her foam finger…
I can’t believe November is already upon us. This year has flown by.
The last two weeks have been a whirlwind of preparation for Stocktoberfest and catch up work post the event. I was hoping to be at my desk most of November but that will not be the case.
I had a chance to gather my thoughts and talk about the year ahead for Stocktwits and the ‘degenerate economy’ with Jeremy Schwartz, the Global Chief Investment Officer of Wisdom Tree. You can listen to it here on Spotify, but it is on all the platforms.
Here is the best of the week on ‘Trends With Friends’ articles.
Day 2 of Stocktoberfest had a lot of conversations about Bitcoin and Crypto that went along with our gold conversation on day 1.
Crypto is not something I personally take much interest in, but as a GP of seed stage funds in fintech and wealthtech, as manager of an emerging manager fund with a 15 percent allocation to the sector and CEO of Stocktwits, it has served me well to build a strong network of people who do and keep an open mind.
I will share a data point from our Stocktwits data here that I shared at Stocktoberfest…
EIGHT percent of Stocktwits ticker traffic is now crypto. To put that in perspective, all of crypto is about $2 trillion which is the market cap of Google. Of course, this could be a misdirection of attention by the Stocktwits audience this last year, or it could just be the trend is under followed and under appreciated (my personal opinion and bet).
The easiest way to showcase what the markets are so far confirming with our Stocktwits users is with some charts. I am going to share some charts JC (my co host on Trends With Friends every week)
With gold at all-time highs and Bitcoin on the verge of all-time highs, one might think the US dollar would be leaking.
It is not (at least at the moment)…
The most under covered CEO/stock of the last few years has to be Michael Saylor amd Microstrategy ($MSTR) and it is Michael Saylor who is getting the last laugh and my vote for CEO and leader of a public company of the year.
Beyond Bitcoin, the story of the last few years in crypto is Solana ( $SOL.X – I own a lot through exposure to crypto funds). Solana is probably my biggest ‘miss’ in my ‘degenerate economy index/portfolio’ as it is the freeway for memecoins. This is the chart that captures its dominance…
Through our Social Leverage emerging manager fund investments in 6th Man Ventures, Multicoin and a few others we have had a large position on this ride. If you want to get a glimpse of this part of the wild west of degeneracy on Solana, open an account on Pump.Fun (a slew of competitors and new products are coming to this market as well).
I thought this podcast was a good one for those looking to catch up on the whole Solana ecosystem – ‘Solana’s Second Act’ – and recovery from the FTX and crypto bear market.
My friends Ben and Emil are ‘financial hipsters’ who did a great job covering all things AI and crypto and weird behavior by degenerates in their weekly show:
A couple more charts that really stood out from JC’s presentation…
Telsa versus Rivian. My friends all tell me that they love their Rivian’s but it is Tesla exerting dominance in the markets…
Small banks are doing well (not bearish)…remember that they were all going out of business just a few years ago…
And finally…
The largest healthcare stocks have had stunning gains over the last few years but relatively they are seeing 2011 lows…there is a big trade/investment here and I am looking to figure that out
Have a great Sunday.