I am in Los Angeles yesterday and today for a bunch of meetings. Two primary themes that I’ve noticed so far on this trip:
1. The cryptocurrency/blockchain frenzy is in full bloom. Every time the topic of crypto/blockchain/bitcoin comes up, people get excited. They want to know more about it. And often, they’ve just bought their first bitcoin though they don’t know why or what to do with it. I continue to think that early 2018 is a terrible time to buy investing/trading cryptocurrencies or related vehicles. Patience. I have no doubt that people in Venezuela and any other of the hundreds of countries that suffer from government fiat currency inflation are going to eventually keep their wealth safer in cryptocurrencies. I have no doubt that blockchain will change the world, the internet and create trillions of dollars of wealth in prosperity and savings. I do strongly doubt that it will be a straight line from the current crypto craze/bubble to that future. Much more on this when I get back in front of my desk and can write this out in more details.
2. I was remembering how when I was traveling in 2011 and 2012 that I’d always come back and write about how much stronger the corporate economy was then most analysts seemed to realize. It was surprising to hear all the strength and confidence. Not sure we’re surprised right now to see the strength in the current economy. Which means it’s certainly partly priced in. That said, I also sense a bit of, perhaps, exhaustion in the economy out here. Nothing is easy, you know, certainly not with your money.
I land in Albuquerque at midight tonight and will get home to Ruidoso about 3am. But I’ll be back in the office tomorrow morning with lots to work on. See you guys there.
In the meantime, be cool. Don’t panic. Don’t be greedy. Be nice too! 🙂