Change your mind

You hear the sound, you wait around
And get the word, you see the picture
Changing everything – Neil Young – Change Your Mind

Let’s do this week’s Live Q&A Chat at 1pm ET. This week is the non-livestream version, meaning you can meet me in the Trading With Cody Chat Room or simply email me your question.

Here’s a question from a Trading With Cody Live Q&A Chat from May 28, 2013, five years ago this week. This back and forth underscores the importance of changing your mind and why it can pay off big to get into something before it goes prime time:

Q. Hi Cody. A few months ago in late 2012, when I asked in the chat about bitcoins you replied something approximating a thought they were not quite ready for prime time. Since then, I’ve noticed that you accept bitcoins and feature them in the currency wars. So my question is, did you change your mind and if so what led to the new outlook?

A. Yes, I changed my mind on bitcoins because the global currency wars spiraled out of control earlier this year, right after you asked me about bitcoin back in January. I do think it is a good idea to put like 0.5% (that is 1/2 of 1%) of your portfolio into bitcoins at these levels around $100 or so, because if they end up becoming a de facto currency in the digital economy, you’ll make 100x your money on them. If not, you lose 0.5% of your portfolio on them. And I LOVE YOUR IDEA of a TradingWithCody Subscriber Picks Room. Let me work on designing the page and we’ll get back to you.

Bitcoin did indeed go up more than 100x from those levels back in 2013. And I’ve been selling my bitcoins, of course. And here’s another blast from the past, the page from back in 2013 when bitcoin was trading around $100, where I used to accept one bitcoin per month for a subscription to TradingWithCody.com. I did just recently raise prices on TradingWithCody.com from $99 per month to $129 but nobody’s paying me 1 bitcoin per month now that a bitcoin is worth thousands of dollars: http://tradingwithcody.com/purchase-with-bitcoin/

Finally, here’s a headline/thought/question for you subscribers:

Plastics and papers from dozens of American cities and towns are being dumped in landfills after China stopped recycling most “foreign garbage.” – There are thousands of tons of recyclable materials going to landfills…there has to be a huge opportunity for someone to make a ton of money processing this recyclable material. Maybe Waste Management WM. The stock’s had a terrific run for years already. Or maybe Stericycle SRCL. The stock’s been sliced in half over the last five years and maybe there’s a place for them to raise prices and expand. Do you guys have any other ideas who might be able to solve this recyclable material oversupply?

Last night, I sent out a Latest Positions Doo Wop, Analysis and Ratings with new analysis and Revolution Investment ratings for each of our positions, so be sure to check that out if you missed it.

See you at the chat.