Should You Listen to Charlie Munger When it Comes to Crypto?

If you missed it, Charlie Munger penned an opinion piece in Wall Street Journal a few days ago calling for the banning of crypto (warning paywall): It isn’t a currency. It’s a gambling contract with a nearly 100% edge for the house. Here we go, again. Now before I start taking a piece out of Munger, let me… Read More »

The City of Millionaires: Why Everybody Gets It Wrong About Vancouver

This is Part II in a series. Part I was last week. The case for why the Vancouver real estate will crash is simple: 1.       Vancouver housing prices have soared the last twenty years. 2.       The average Canadian wages have not kept up. 3.       Mortgage rates have spiked up this year. Add up all these factors and it’s… Read More »

The Crazy Week in Bitcoin Mining Stocks

In less than a week, bitcoin mining stocks go from being the lousiest investments you could buy to being one of the hottest. The last time I wrote about bitcoin mining stocks, it was August, and the headline was “The Opportunity in Bitcoin Mining Stocks”. There WAS an opportunity there. An opportunity to lose lots of money if you… Read More »

Bonk! Another Memecoin Becomes a Hit

Biggest winner of the week goes to those crypto-speculators who held BONK seven days ago: It’s hard to figure out the percentage gain because of all the zeros, but according to my calculations, each BONK was worth 0.0000001126 of a cent a week. Today it was worth 0.000001863 of a cent at the time of writing this… Read More »

Predicting the End of the Bear Market in 2023

This is a chart of Nasdaq that goes back fifty years, to 1972. I have highlighted five historical corrections of 10% or more. First, the bad news. They all lasted longer than one year, from peak to trough with one exception. November 1972 (Index was 133) to September 1974 (63). One year, 10 months, and a decline of… Read More »