Digital currency has started to gain attention in the stock market as Bitcoin became one of the hottest purchases in the market in 2017. Investor Paul Mampilly who usually sees a rise in future stocks and commodities says he missed this one and prior to 2017 might have told his newsletter audience to buy it. But now at the beginning of 2018 he is urging everyone to avoid it, and it’s not because he doesn’t believe in cryptocurrency because in fact, he actually believes blockchain technology is going to be huge in the future. But he lists other reasons for not buying Bitcoin.
What Paul Mampilly describes of Bitcoin’s 2017 surge is that it became too popular. A stock that becomes way too popular among mainstream investors is not a good thing because too much demand drives the prices way above what they should be, and then what happens is a bubble. This is basically the same effect that Mampilly says happened to web-based companies prior to the dot-com crash of 2000, and it also sparked the subprime mortgage crisis and recession of 2008. Mampilly stated that Bitcoin is likely to come in a mostly steady downward trend with a few rallies along the way. But he did say there was another digital currency already in circulation that investing in was much safer than Bitcoin, and he explains what that is to newsletter followers at Banyan Hill.
I believe that these companies are going to generate massive, incredible, phenomenal stock market winners … with thousands of percent in returns.#OnceInALifetime #Opportunity #OutdatedTech #Technology #Dividends #Stocks #Investing #StockMarkethttps://t.co/JlVsueIARt
— Paul Mampilly (@Paul_M_Guru) February 22, 2018
Paul Mampilly’s story is about how he made it to the echelon of Wall Street but left to do something better that’s helped thousands of people even in the small towns and rural America. He moved to the US in the mid-1980s from India to study at Montclair State University. He received his bachelor’s degree in finance from there and spent more than 10 years in banking as a large accounts manager. In 2006 he became one of the top-ranked hedge fund managers at Kinetics International Fund and was recognized by Barron’s magazine first for growing its assets under management from $6 billion to $25 billion, and second for bringing in 26% returns to the client funds. He also was given $50 million by the Templeton Foundation who wanted to see how quickly he could grow an investment of that size. So during the 2008 recession, he bought several low-risk stocks without shorting them and turned that $50 million into $88 million.
Paul Mampilly made the surprising move to leave his current career in 2012, and few people knew where he went until he made a reappearance in 2016 and announced that he had become an independent writer giving stock advice. He had decided to quit Wall Street because despite its wealthy paycheck, he didn’t get the time he wanted to spend with his family, and he didn’t get to help the people he wanted to help. But as an author and newsletter publisher at Banyan Hill, he’s bringing in regular people to the stock market and helping them understand how easy buying stocks can be. His main newsletter is “Profits Unlimited,” but he also writes “Extreme Fortunes” and “True Momentum.” Extreme Fortunes by Paul Mampilly, 10,000% Marijuana Stock