David Friedman on semi-efficient markets
IMO your success is highly dependant on who is participating in the market
Stocks? = 99% of people will perform better just buying ETFs as it is nearly impossible for retail to find a consistent edge
1/6
IMO your success is highly dependant on who is participating in the market
Stocks? = 99% of people will perform better just buying ETFs as it is nearly impossible for retail to find a consistent edge
1/6
Crypto? = I believe active users who can see which projects are likely to lead their niche & possibly establish moats will outperform the index or shotgun approach
These are the people who knew to preference $AAVE > $COMP & $ETH > ghost L1s https://twitter.com/degenspartan/status/1350657948490493954
These are the people who knew to preference $AAVE > $COMP & $ETH > ghost L1s https://twitter.com/degenspartan/status/1350657948490493954
I have personally performed the best by mid-long term investing in high conviction spot holdings of applications that I already used - or in the case of $SNX - thought will be widely used in the future (execution risk as most features were yet to be shipped) https://twitter.com/arthur_0x/status/1352499765007716354
Narratives have also been very important
After surviving the 2018-20 bear market - I was lucky enough to find Ethereum twitter after spending most my time in crypto trading twitter - where the majority were still BTC maxis either trading on mex or alt/btc pairs
After surviving the 2018-20 bear market - I was lucky enough to find Ethereum twitter after spending most my time in crypto trading twitter - where the majority were still BTC maxis either trading on mex or alt/btc pairs
When ‘DeFi’ became the new buzz word early last year, many dismissed it as another fad or altszn
Only those deep in the Ethereum ecosystem knew that this time it was different
We had literally found the future of finance
> But they didn’t know
Only those deep in the Ethereum ecosystem knew that this time it was different
We had literally found the future of finance
> But they didn’t know
‘Altcoins’ now gave you a share of the cash flows generated by applications that had already developed a large user base
This was a very strong narrative compared to what alts used to be
But the market at large was not aware & they were still not even in the top 50 by marketcap
This was a very strong narrative compared to what alts used to be
But the market at large was not aware & they were still not even in the top 50 by marketcap
If crypto keeps growing at the current rate, in a few years it may be harder for retail to find an edge & outperform the market
But until the core DeFi projects are sitting comfy in the top ranks & ghost L1s are rekt - IMO we are still early & can easily outperform BTC & indexs https://twitter.com/gatheringgwei/status/1350297381456134146
But until the core DeFi projects are sitting comfy in the top ranks & ghost L1s are rekt - IMO we are still early & can easily outperform BTC & indexs https://twitter.com/gatheringgwei/status/1350297381456134146