Bitcoin

1999? Maybe, maybe not. You decide.

1999? Maybe, maybe not. You decide.

Let’s take a moment to recap some of the recent headlines that you may have missed given all the (deserved) attention being paid to the massive tax bill.

Investors giving $700 million in funding to a startup with no product (yet), no offices and who is given away digitaltokens that have — according to the company — no purpose.

1999? Maybe, maybe not. You decide.
1999? Maybe, maybe not. You decide.

Stock in a chinesecompany called Future FinTech doubled after we mentioned its name on the show, but only because we noted it used to be called SkyPeople Fruit Juice. Yes, it makes fruit juice. Though it recently said it wants to deepen its “e-commerce commitment.” Hmmm.

A ‘cryptocurrencystock called Longfin rose over 2,000% in a week and now its CEO has to warn investors that the market cap is “not warranted” and they should be careful. Still, the stock barely fell.

A small brokerage house founded by the legendary Muriel Siebert watched its stock go from $4 to $15 in a week after partnering with online discount warehouse Overstock.com to tradestocks and potentially expand into cryptocurrency trading.

Litecoin has returned a cool 7,000% this year. That’s a lot of coin.

Meantime, outside of the cryptoworld ..

This week the Dow posted its 70th record close of the year, breaking the previous record of 69 highs in a year back in 1995. The NASDAQ also topped 7,000.

Investors are buying in, as optimism soared as stocks climb.

The dividend yield on the 2 year Treasury bond is higher than the dividend yield on the S&P 500 for the first time since 2008.

The forward price to earnings ratio on the S&P 500 is creeping closer to 20, while the price to sales ratio is already way above any metric of the last 10 years.

Stocks are set to outperform bonds in the United States for the 8th straight year, something that hasn’t happened since 1928 and for only the third time in more than 200 years.

Meantime, outside of the financialmarkets ..

114 bottles of wine selling for $1.6 million.

A $500 million dollar California home.

A $450 million dollar painting (of some suggest a questionable origin).

Oh, and a Federal Reserve raising rates and unwinding its balance sheet. 2018 should be very interesting.


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