Investor Guru Paul Mampilly Urges Investors to Watch Out for BitcoinIf you are a novice investor in cryptos and bitcoins, then you have probably heard of Paul Mampilly the famous investment guru who works at Banyan Hill Publishing. Recently, he offered insight regarding bitcoin and the impending bubble.
According to Paul Mampilly, bitcoin is just like any other high-risk investment docket that many novice investors delve into without measuring the impending risks. As such, he recalls his past experiences in the 1999 stock bubble when a friend called Tess heavily invested in over 1,000 stocks.
Understanding the dot.com Bubble
Also known as the dot-com boom, the 1999 economic crush bubble went down the books in history as a period of tremendous speculation accompanied with remarkable growth in the utilization of the internet. As such, around the turn of 2000, investing in technology was considered to be volatile because companies made earlier preparations only to be hit by a turn of events that had minimal impacts. Even worse was the fact that the Qualcomm Inc stock price shot up by 2,619 %. Moreover, there were additional 12 stocks that experienced tremendous growth of up to 1,000%. Furthermore, companies like Nasdaq Composite experienced a shoot up in value.
Just like the 1999 bubble, 2017 was another year with tremendous challenges, and Mampilly was so quick to highlight some of the impending risks in the bitcoin investment docket. When he sold his stocks in 1999, he did not pre-empt the possibilities of the same stocks gaining more value in months. However, in two years, the stocks lost value. Luckily for him, he had sold everything. Therefore, he was safe from the bubble. Visit Bloomberg to know more about Paul Mampilly.
At the same time, Mampilly reached out to his friend Tess to ask her to be cautious with the impending bubble because as he recalls, Tess had put all her money into the stock market. Because she did not listen to his advice, she continued to invest in the business that made her wealthy for some time. Unfortunately for her, she lost everything in 2000.
Similarly, Paul Mampilly is convinced that the bitcoin rush will soon be gone as there is an impending economy bubble. Moreover, he reiterates that investors would like to stick around the industry and sell their stocks when the value shoots up. However, because of the unpredictable nature of the industry, anything can happen, and stock’s value can dwindle eventually. Therefore, the crypto market is set to explode with losses.
Who is Paul Mampilly?
Paul Mampilly is the founder of one great newsletter called Profits Unlimited. Other than that, he works for Bloomberg TV and Profits Unlimited. Moreover, he uses these channels to offer insight on different investments. Learn more: https://www.crunchbase.com/person/paul-mampilly