Happy Thanksgiving to all you folks stateside (hey, you’ve already had your turn Canadians!). Thai’s celebrated Loy Krathong yesterday too, so it feels like the market is taking a backseat to festivities at the moment.
The ‘tech-wreck’ is not so mini anymore, and with us being in the back-end of November already, one wonders if the Santa rally will be skipped this year?
Just a few quick snippets for you to digest before I let you get back to planning your ‘Black Friday’ purchases.
Bitcoin loses 1K on the week ; drops to USD 4.5K
It wasn’t the week to be in cryptocurrencies. Paula Cole, when penning the lyrics to her next song will be asking “where have all the hodlers gone?”
One thing’s for sure – hodlers didn’t need a dose of Shit the Bed hot sauce to evacuate their bowels, a quick glance at the crypto-quotes would have done the job quite nicely.
Mining rigs across the globe are being pulped as it’s proving too expensive to leave them plugged in – the current price of crypto doesn’t offset the cost of electricity required to run them.
The good news?
Those Nvidia cards you’ve always wanted but couldn’t get your hands on should now be in plentiful supply 😉
Oh Facebook, you’ve done it again!
The empire continues to crumble. Rome wasn’t burnt in a a day, right?
Surely the debacle can’t continue without a few heads rolling and Zuckerberg seems intent on staying at the helm of this sinking ship. The question is – Will he throw Sandberg under the bus?
A multimillionaire businessman from South Sudan’s capital city reportedly won the auction after offering a record “price” — of 530 cows, three Land Cruiser V8 cars and $10,000 — to marry the child. Source: techcrunch
Nearly a year ago I called out Social Media as one sector to have a rough time in 2019, and FB a short at $180. This was a tough call to make with the stock on an absolute tear. Pure counter-trend.
The market gods have delivered, and then some, with the stock currently trading around the USD 134 mark.
Grab the popcorn, this show ain’t over yet!
Vive la Révolution
Last Saturday night, wife 2.0 and I managed to get into one of the city’s ‘Top 10’ bars – Havana Social.
While not as hard to get into as Berlins’ Berghain (pronounced Berg-HINE), it still took some detective work. There are no signs and entry is via a makeshift phone booth in a small alley, where one must enter the correct 4-digit code (changed nightly) to gain access to the bar via a secret door.
I was convinced there was a hidden camera somewhere with bar staff deciding if we were worthy or not!
Thankfully the Mrs managed to find seats for us at the bar after only 10 minutes. I think she tripped someone, which in my book is a legal move in a packed bar.
The hours then quickly disappeared as we soaked up a small slice of Cuba and hit the cocktails in a serious way. I don’t recall all their names (Rum has never been my strong suit!) but we did knock over ‘The Hemmingway’ and ‘Fidels Nightcap’ along with the obligatory Mojitos and Cuba Libres!
Things got messy after we were kicked out in the wee hours. Nothing good happens after 3 AM.
–// Craig Amos
FULL DISCLOSURE: No companies mentioned in this article are Equity Guru marketing clients.