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 »
Biggest winner of the week goes to those crypto-speculators who held BONK seven days ago: https://coinmarketcap.com/currencies/bonk1/ 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 »
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 »
The minivan froze on the driveway this week as it went as low as -10 Centigrade earlier this week. Now we are catching the edge of the storm that has engulfed much of North America. Earlier in the week, I let the fuel tank get too low, allowing for water to freeze up the fuel lines. My niece… Read More »
It’s not even close. The biggest story of the year happened earlier this week when the news was announced that nuclear fusion was achieved in a laboratory with more energy coming out than going in. Note: Image generated by OpenAI…more on that laterA quick primer on nuclear fusion: Nuclear fusion is a process in which atomic nuclei combine to… Read More »
Here’s a short list of crypto firms that went belly up this year: FTX, $10 billion lost Celsius, $2.8 billion net liabilities Voyageur, between $1 and $10 billion (!) Blockfi, between $1 and $10 billion (obviously accounting is not a strong suit with these guys). Okay, let’s state the obvious. The losses are shocking. But the losses are… Read More »
