This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $3600 worth. When times are tough, it helps to study the legacies of the greats who have come before us in order to imitate their way of thinking. By learning their stories, we can get a glimpse into their world and see how they reacted when their backs were against the wall. One man in particular is legendary investor, Carl Icahn. Known as the “contrarian to end all contrarians,” Carl Icahn is famous for zigging when everyone else zags. He is a master of going against the grain and, more importantly, being right when everyone else is wrong. Take a look at how the CIO of UBS described him once: “a lot of people bet against trends, but Carl goes beyond that. He'll buy at the worst possible moment, when there's no reason to see a sunny side and no one agrees with him." “The consensus thinking is generally wrong. If you go with a trend, the momentum always falls apart on you. So I buy companies that are not glamorous and usually out of favor. It's even better if the whole industry is out of favor.” - Carl IcahnIcahn wasn’t born with "super powers," nor did he find them by luck. He began on Wall Street with a hot start during the boom of the late ’50s. That quickly changed. Within just a few years of investing, the famous “Flash Crash” happened, and Ichan lost everything he owned. He was wiped out in one day. Looking back, his response was, “you had to go through the pain, the market is not a gambling casino and too many people in this type of market think it is.” Icahn found his edge and realized the potential of a new financial arena - the options market. At the time, Wall Street largely dismissed the nascent options market, labeling it a scam. Icahn didn't. Sound familiar?While the country was in turmoil during the late ’60s, Icahn emerged as a pioneer of the new options space. He solidified his reputation as a visionary investor, moving into arbitrage, corporate raiding, and other profitable ventures as they emerged. The story of Icahn from here begins to repeat itself. Time and time again, Icahn zigged when everyone else zagged. Once dismissing cryptocurrency, now he considers it a viable part of a strong investment strategy. Icahn's feelings on crypto are a bonus, but irrelevant. That's not the point. We simply need to recognize the idea that being the contrarian can pay off if we put in the time and have patience.The world is seemingly convinced that this market is going to drop lower, with fresh calls for $10,000 and "Bitcoin going to 0." The contrarian view is maintaining conviction in crypto - it always has been.The world is still sleeping on this new asset class.Crypto gets quite a bit of buzz, and media attention, but the $1.6T market cap is proof that we have only scratched the surface. As painful as it may be, now is likely the time to be the contrarian. Fortunes are made by the bold in a bear market.In This Issue:Being ContrarianBitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsRSI Reaches Two Year Low$600M Ethereum LiquidatedEl Salvador Buys The DipThis Week's Market PreviewMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO
The Wolf Den #420 - Being Contrarian
The Wolf Den #420 - Being Contrarian
The Wolf Den #420 - Being Contrarian
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $3600 worth. When times are tough, it helps to study the legacies of the greats who have come before us in order to imitate their way of thinking. By learning their stories, we can get a glimpse into their world and see how they reacted when their backs were against the wall. One man in particular is legendary investor, Carl Icahn. Known as the “contrarian to end all contrarians,” Carl Icahn is famous for zigging when everyone else zags. He is a master of going against the grain and, more importantly, being right when everyone else is wrong. Take a look at how the CIO of UBS described him once: “a lot of people bet against trends, but Carl goes beyond that. He'll buy at the worst possible moment, when there's no reason to see a sunny side and no one agrees with him." “The consensus thinking is generally wrong. If you go with a trend, the momentum always falls apart on you. So I buy companies that are not glamorous and usually out of favor. It's even better if the whole industry is out of favor.” - Carl IcahnIcahn wasn’t born with "super powers," nor did he find them by luck. He began on Wall Street with a hot start during the boom of the late ’50s. That quickly changed. Within just a few years of investing, the famous “Flash Crash” happened, and Ichan lost everything he owned. He was wiped out in one day. Looking back, his response was, “you had to go through the pain, the market is not a gambling casino and too many people in this type of market think it is.” Icahn found his edge and realized the potential of a new financial arena - the options market. At the time, Wall Street largely dismissed the nascent options market, labeling it a scam. Icahn didn't. Sound familiar?While the country was in turmoil during the late ’60s, Icahn emerged as a pioneer of the new options space. He solidified his reputation as a visionary investor, moving into arbitrage, corporate raiding, and other profitable ventures as they emerged. The story of Icahn from here begins to repeat itself. Time and time again, Icahn zigged when everyone else zagged. Once dismissing cryptocurrency, now he considers it a viable part of a strong investment strategy. Icahn's feelings on crypto are a bonus, but irrelevant. That's not the point. We simply need to recognize the idea that being the contrarian can pay off if we put in the time and have patience.The world is seemingly convinced that this market is going to drop lower, with fresh calls for $10,000 and "Bitcoin going to 0." The contrarian view is maintaining conviction in crypto - it always has been.The world is still sleeping on this new asset class.Crypto gets quite a bit of buzz, and media attention, but the $1.6T market cap is proof that we have only scratched the surface. As painful as it may be, now is likely the time to be the contrarian. Fortunes are made by the bold in a bear market.In This Issue:Being ContrarianBitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsRSI Reaches Two Year Low$600M Ethereum LiquidatedEl Salvador Buys The DipThis Week's Market PreviewMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO