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.
— Paul Mampilly (@Paul_M_Guru) August 17, 2017
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