What a time to be alive.
Since I announced in August that I would be posting on social media, a lot of you joined me in creating what is now a community of over 200,000 people.
In fact, we crossed the 200,000 mark today (I should add, with $0 spent on ads). Thank you for that.
Spending so much time on social media forced me to put email on hold for the sake of my own sanity, but I've come close to reaching a sweet spot now. I feel incredibly grateful (and also weirdly in awe at what happened) and take my responsibility to serve all of you very seriously.
Going forward, I'll be addressing some of the major lessons learned from growing on social media in these newsletters too.
Bitcoin is on Fire
The big investment theme of the past few weeks has been the rapid surge in the price of Bitcoin - which is up 40% in the last month alone (and of course, Joe Biden's election - more on that next week).
There are a lot of reasons for this but among the key ones are likely to be publicly-listed CEOs storing their corporate cash in Bitcoin (and not in...well, cash); Paypal announcing their 350 million users can now buy Bitcoin inside the app; inflation around the corner and famous hedge fund managers announcing they own it.
If this bull market is anything like the last, just wait until FOMO (fear of missing out) kicks in. I am buying, a lot (see below).
Rapid-Fire Best Insights
Highest conviction investment idea: Bitcoin (no surprise)
I wrote to you in August with these exact words:
"I've been buying Bitcoin and Ethereum regularly since March but doubled down since Bitcoin broke $10,500 last month and Paul Tudor Jones (one of the most successful traders in the world) described it as 60% as valuable as gold as a store of value but worth only 1.5% of its price.
I own my crypto primarily through Grayscale's Bitcoin Trust (ticker symbol GBTC)."
Absolutely nothing has changed, and I believe we are still very early. I bought at $7,000, $10,500, and I'm buying at $16,000. It is my largest position today.
Best podcast episode I (re-)listened to: Elon Musk on the Third Row Podcast
Most interesting report I’ve read this week: The 5 worst investment ideas for the next 10 years
Best Tweet I came across:In a world of abundant information, how to tell what's signal and what's noise
Book I just finished: God's Debris. A mind-bending and fascinating approach to the concept of God. It's short (I read it in an hour). In the words of the author - "you might love this thought experiment wrapped in a story. Or you might hate it. But you won't easily get it out of your mind."
What I'm fascinated by: My wife went viral on TikTok (15 million views) and her post reached every single TikTok user in Nepal - of all places. To anyone looking to build an audience (in any field), the app is no longer just for kids, and posts go viral on a scale I've never seen before.
Also, I've been experimenting with deep fascia-tissue massages. Although it's one of the more painful things I've done in a while, I highly recommend it if you're looking to get back your mobility and posture.
Anything else I think you should know: Ray Dalio, the founder of the world's largest hedge fund, came out publicly telling investors to invest more in China, given the size of its economy and potential. I've been investing in China for years - and index funds like MCHI and KWEB are good places to start looking.
Oh, and for those looking to do a 2021 lockdown in style, this luxury resort in the Maldives will let you stay in an overwater bungalow (with breakfast!) for an entire year for just $30,000.
Until next time.
What a time to be alive.