Mind the step

  • Time is running out
  • A new service
  • Opportunity for speculation
  • Crypto-banks
  • Easy does it

There’s only one thing more embarrassing than falling over.

And that’s falling over when you’re trying to carry suitcases down the stairs to a waiting taxi at 6am.

Such was the beginning of our journey home from Dublin to Melbourne.

No permanent damage…except to our pride…and a small hole in an otherwise perfectly good pair of $50 jeans.

With that, sheepishly, we go on with the show…

Markets

Overnight, the Dow Jones Industrial Average closed down 167.58 points, or 0.78%.

The S&P 500 closed down 20.99 points, or 0.86%.

In Europe, the Euro Stoxx 50 index fell 64.37 points, or 1.82%. Meanwhile, the FTSE 100 lost 0.51%, and Germany’s DAX index closed down 1.83%.

In Asian markets, Japan’s Nikkei 225 index is down 255.76 points, or 1.26%. China’s CSI 300 is down 0.25%.

In Australia, the S&P/ASX 200 is down 86.10 points, or 1.48%.

On the commodities markets, West Texas Intermediate crude oil is US$45.16 per barrel. Brent crude is US$47.85 per barrel.

Gold is trading for US$1,245.43 (AU$1,619.56) per troy ounce. Silver is US$16.67 (AU$21.68) per troy ounce.

The Aussie dollar is worth 76.91 US cents.

Time is running out

Your editor always strives to be at the leading edge of news and information.

With that in mind, this morning we picked up a near two-week old copy of the Bloomberg Businessweek magazine.

One of the subheadings on the front page grabbed our attention, ‘Cryptocurrencies for initial coin offerings’.

Three weeks ago, we wouldn’t have given it a second look. Today, on the other hand, your editor is ‘crypto crazy’.

OK, that’s not true. But from a relative perspective, our interest in the subject has risen exponentially, albeit from a very low base. On a scale of 100, we’re probably around five. That’s a big move up from one!

While we have a limited knowledge of the subject, we’re fortunate that others within our business have a much deeper knowledge. One is Sam Volkering. He’s badgered your editor for months on the subject.

He’s even recommended buying specific cryptocurrencies in his Revolutionary Tech Investor service. If you haven’t yet checked out Sam’s crypto recommendations, I strongly recommend you do so here.

Memberships close at midnight Saturday.

Your editor may not fully grasp the technological implications of cryptocurrencies, but we do know a ripe speculation when we see one.

A new service

That’s not where the crypto theme ends.

Next week, we’ll reveal full details on a brand new cryptocurrencies information and investing service. Where Sam’s recommendations in Revolutionary Tech Investor focus on the cryptos with four, five, or six-digit percentage gain potential, our new advisory will focus on what Sam calls the ‘blue-chip’ cryptos.

But more than that, Sam is keen to educate investors on cryptos. It’s a hot topic right now. But it’s also clear that many folks are rushing into the crypto world without having a clue about what they’re doing.

That’s not all. Cryptocurrencies aren’t just about the actual cryptos themselves. It’s actually a technology and economic story, too.

Our brand new crypto service will aim to show you everything there is to know, and everything you need to know about how the crypto market works.

And finally, Sam is just about putting the final touches to a crypto ebook. This will touch on the history of cryptos, what they are, where the opportunities lie, and the future of cryptos.

It’s an exciting project. One that Sam’s been working on with one of the new members of our advisory crew, Ryan Dinse. Like Sam, Ryan is a former financial planner. While it was a good career path, it wasn’t what excited him.

Again like Sam, what excites Ryan is technology, analysing companies, recommending stocks…and, you guessed it, Ryan is a cryptocurrencies aficionado.

Anyway, stay tuned for more details. We hope to reveal everything next week.

Opportunity for speculation

One more thing from the Bloomberg Businessweek article:

David Vorick, 24, is one of those techies with a plan to change the world. His startup runs a data storage service called Sia, similar to those of Amazon.com Inc. and Google Inc. The difference is that Sia is totally decentralized. People who need a digital file cabinet are matched up with hosts with extra storage capacity in an online marketplace that runs on blockchain, the same technology that supports the virtual currency bitcoin…

For finance types there’s something else interesting about Sia. To buy storage space – or get paid for it – you need to use the system’s own digital tokens, called Siacoin. And on sites where people trade virtual currencies, Siacoin has surged more than 1,200 percent in U.S. dollar value since May 1. The total value of this startup money was about $400 million on June 13. Other digital coins have also gone through the roof. XRP, the token for a global payment system called Ripple, has increased almost 4,000 percent in the past three months, giving it a market value of about $10 billion.

The crypto investing world isn’t for everyone. But it’s hard to deny that the opportunity for profitable speculation exists. To find out more, go here.

Crypto-banks

Away from cryptocurrencies, we consider what we may like to call, ‘crypto-banks’.

From the Financial Times:

Now, rather than accumulating capital to build buffers against losses, the likes of Morgan Stanley and Bank of America can start handing it back. Across the 34 banks which took this year’s exam, payouts to shareholders will come close to 100 per cent of projected profits over the next year, according to senior Fed officials, up from about 65 per cent for the class of 2016.

The timing couldn’t be better. Or is that worse.

The banks are about to go on a cash dispersal spree, right at the time when interest rates are rising, and business and consumer losses are likely to emerge.

But heck. What do we know? The US Federal Reserve has its best economists and supercomputers dealing with this. When have they ever gotten anything wrong?

Easy does it

Now to board that flight. We’ll be sure to mind our step!

Cheers,
Kris