Not that smart

From Cernovich

If you’re spending hours a day arguing/debating politics online, you’re probably not that smart. Noah is probably smarter than Cernovich, but not by a large margin. People of all intelligence levels change their minds or contradict themselves. It’s not an indictment on his intelligence because some old tweets were dredged up that showed him [Noah] being inconsistent on Ukraine. It’s like, wow you ‘owned’ some former adjunct econ professor about some tweets posted in 2014…what a genius.

For example, Tucker Carlson, before he got his Fox show, was a center-right libertarian:

Early in his career, Carlson supported libertarian economics. He supported Ron Paul’s 1988 presidential candidacy, when Paul ran as the candidate for the Libertarian Party, along with his 2008 presidential candidacy, when Paul ran as a Republican.[20][195] From 2009 through 2015, Carlson was a senior fellow at the Cato Institute, a libertarian think tank.[196][197]

Mr. Cernovich continues to hype Bitcoin even though it’s been a terrible investment for the past year (down 35%).

Freedom to lose money, I guess.

The S&P 500 is just 8% from making new highs, Nasdaq just 13%, but Bitcoin would have to go up 70%!

If in 2022 you are still telling people to buy Bitcoin, you are not smart (or at least deluded). And second, doing a disservice to your followers by steering them into something which is worse than dog poo. 3x tech ETFs crush crypto, going as far back as early 2018. To my credit, akif, no one made a comparison between Bitcoin and 3x tech ETFs until I did. So all these people who think that Bitcoin is the contrarian path to riches and financial freedom, are really just getting beat by boring old index funds, albeit leveraged ones.

Of course, pre 2017 Bitcoin was better than 3x tech ETFs (and I owned Bitcoin back then too), but this is 2022. If by now, after a 100,000+% rally, you have not already gotten rich with Bitcoin or Ethereum, it really is too late. You missed that train.

I was smart enough to find the 3x strategy, that will turn a couple hundred thousand dollars into $20+ million in a decade. People work their whole lives and maybe will make a couple million if they play their cards right.

A 50% annual return compounded for a decade turns $500k into $28 million. It sounds too good to be true, but this what the math and past performance shows. This assumes past performance will continue, but I have no reason to expect it won’t. The economic/macro conditions that were in place in 2010, when the bull market began, are fully intact now: rock-bottom interest rates (also the market did well as the fed was raising rates in the ’80s, ’90s and from 2015-2018 (see my earlier post a few days ago)), record corporate profits, massive consumer spending, huge intellectual property and branding moats (like with Google, Microsoft, Nike, and Disney).

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