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Cryptocurrency: Fiduciary Asset or Verrückt[1] My colleague Daniel Satchkov has put forth a couple of compelling pieces (Why Bitcoin Drop Was Good and Why Cryptocurrency Just Might Become a Fiduciary Asset and 2019 Will Be The Year That Crypto Decouples From Equity Markets) on why the rout in Bitcoin and cryptocurrency should be seen as a positive and why we may be closer to considering crypto a fiduciary asset. While I agree that the rout is good for the long-term prospects of cryptocurrency (for many of the reasons he lists that I won’t go into here), I disagree that it is on the verge of becoming a fiduciary asset. It...

Daniel Satchkov

11 Jan 2019

To Brexit or Not to Brexit

As anyone following Brexit knows, it is a mess. With the March 29, 2019 deadline for the United Kingdom to leave the European Union fast approaching, there is a real chance that no deal will be struck. British Prime Minister Teresa May is looking for a way to secure the votes needed in the House of Commons to approve the deal that she negotiated with the EU. This looks unlikely, which is why May pulled the vote back on December 11. Just days later, PM May faced a ‘no confidence’ vote (which she survived) that would have effectively ended her leadership. Frankly, the situation is changing so quickly that this...

Daniel Satchkov

09 Jan 2019

iPhone Loathing in China Or Why 43% Of All Statistics Are Worthless

Statistics is the art of never having to say you’re wrong. A statistician is a person who draws a mathematically precise line from an unwarranted assumption to a foregone conclusion. Statistician Folklore Reliable economic data today is hard to come by nowadays. Which is surprising given the sheer amount of economic information out there on the web. The perennial problem with economic data is that it is lagging. The other problem is that various entities releasing that data learned to obfuscate it with statistical methods. Overuse of various seasonal adjustments, hedonic[1] adjustments of inflation have made a mockery of statistical methods. Yesterday, we have seen two statistical machines collide...

Daniel Satchkov

09 Jan 2019

2019 Will Be The Year That Crypto Decouples From Equity Markets

Everyone has a prediction for 2019. I am with Yogi Berra when he says that ‘making predictions is hard, especially about the future’. However, I will go ahead and make one. Diversification is a cornerstone of a good investment strategy and it will be back in 2019 in a big way. More so, Bitcoin will mature as a truly diversified asset, while its volatility will subside. Bitcoin was born 10 years ago and it is widely considered to be spawned by the financial meltdown of 2008. Firstly, because it was released on Jan 3, 2009 just about at the price bottom of all risky assets. Secondly, the headline embedded...

Daniel Satchkov

07 Jan 2019

15 Weekly Stats for Financial Advisors: Week of January 7, 2019

Matt Meyer and Michael Robinson are founders of The BluePrint Insurance Services. Their mission is to be the premier insurance partner for RIAs and comprehensive financial advisors. The BluePrint provides an operational insurance platform that allows our partners to provide the highest level of insurance access and support. We feature this weekly update with permission: Matt Meyer Co-Founder 424.387.4143 MMeyer@tblueprint.com Michael Robinson Co-Founder 619.404.3038 MRobinson@tblueprint.com Site: https://www.tblueprint.com