Cryptocurrency has been a major point of discussion among investors big and small recently. While some believe that the stock is a good investment others believe it is that the crash of the cryptocurrency bubble is imminent. Paul Mampilly is one such individual. He is an accomplished American investor and financial guru whose track record definitely speaks for itself.
The former hedge fund manager all but guarantees the bubble is on the verge of bursting. Though he doesn’t know when the crash will occur it is clear that Mampilly believes it will happen sooner than later. And when it does a lot of people are going to be in debt. He compares the cryptocurrency bubble to the tech bubble of 1999. And we all know how that turned out.
Mampilly was one of the lucky investors predicted the crash and sold all his stock before the bubble exploded. Though he strongly believed he had done the right thing back then he wasn’t 100 percent sure and even thought he might’ve made a mistake. However, his doubt didn’t last long when the bubble did eventually burst in in the early 2000’s. Many investors did not see the collapse coming and lost a lot of money. Including one of Mampilly’s good friends.
Mampilly has continually voiced his opinion that cryptocurrency represents a huge bubble and that bubbles are not good investments. Despite how it seems the fact that bitcoin is rising is not a good thing. The more people that invest in the stock the more unstable the bubble becomes.
Mampilly knows how tough it can be to part ways with an investment as he himself has had investments that have been through several bubbles. Mampilly knows a thing or two about managing investment accounts as he has managed such accounts for major financial institutions for many years now.
About Paul Mampilly
Paul Mampilly has been active in the investment world for more than two decades and helps guide investors to stocks with good potential through his popular investment newsletter Profits Unlimited. Mampilly made a name for himself on Wall Street as a leading investor before growing tired of the hustle and bustle and retiring.
Paul Mampilly info: seekingalpha.com/user/48491120/stocktalks
Paul Mampilly has an MBA from Fordham University and has put into good use his finance knowledge in the business world. Paul Mampilly began his journey in 1991 in Wall Street working as an assistant portfolio manager for Bankers Trust. He rose through the ranks managing multimillion dollar accounts for ING and Deutsche Bank. His time working as a manager of the hedge fund for Kinetics Asset Management saw the company assets rise to $25 billion earning him the reputation of one of the best hedge funds managers of the world. He has also worked as a senior editor at Banyan Hill publishing which he joined in 2016.
Paul Mampilly has been invited to participate in the prestigious investment competition of the Templeton Foundation. He started off with an investment of $50 million and grew the investment to $88 million during the 2009, and 2009 financial crisis. Paul Mampilly decided to leave Wall Street because he felt that he was serving only 1% of the entire population. He stopped making money for the rich and decided to help other people with their investments. To do this, he founded Profits Unlimited and Extreme Fortunes. To bring his idea to life, Paul spent several hours researching with his team. He states that he spends a lot of time creating a write-up for readers and tries to make it easy for them to understand the information through charts and data which they can sift through.
The two trends which excite him are the millennial mega trend and the internet of things. In his opinion, the internet of things will affect various sectors of the economy which include health care, food, energy, and marine. This is simply because all these industries still have an opportunity for improvement. Paul Mampilly believes that the millennial are about to take over the American economy. The population are an estimate of 92 million and this alone is enough to alter the economy of United Stated based on their choices and preferences.
Paul Mampilly advises investors to look at other people’s viewpoints on stock and not only be biased to their opinion. He recommends reading the negative comments on a stock of interest as it will allow them to identify important information which they may have missed. This is one of his investment secrets which according to him gives him a tunnel vision on stock which he thinks is great but actually has flaws which might end up costly to him.
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