The new rules for wealth building pt 1

There is an exquisite moment just after you stub your toe…

Between hurting yourself and feeling the pain…

That is where the crypto markets are right now.

SBF (or someone on the inside with him) hacked the remaining half a billion worth of client funds at FTX.

Transferred the fund from both FTX and FTX.US, launched a trojan on the FTX app (do NOT update app if you get a request)... and immediately started washing those funds into coins that can’t be seized easily.

I cannot remember such a trainwreck bankruptcy ANYWHERE including Enron, Madoff and Mt Gox.

I just don’t get it. 

With seed deals, insider information, everyone’s positions and stop losses and order flow to front run how do you manage to lose money?

Seriously! HOW?

And then this motherfucker still pretends to be all about protecting the customers.

The internet is following his private jet as it literally flees to South America you just can’t make this shit up.

And let’s be honest. 

This is all happening WHILE the stocks are blasting higher, there are glimmers of hope on the inflation front, oil is cheap again and the dollar has fallen a bit.

What do you think is going to happen next time the TradFi markets shit the bed?

This crash is NOT OVER, we are just getting started.

There are no bailouts coming. Market makers are all broke.

Liquidity will be extremely thin… perfect conditions for a crash to lows nobody thought possible.

Fun fact. 19.6% of Crypto.com’s reserves are in Shiba Inu.

But NFT’s are holding up surprisingly well (another WTF)

This morning I did a special emergency session with my private clients.

Usually I wouldn’t hand this out, but it's a critical time and you should probably see A MORE DETAILED DISCUSSION OF THE PRICE ACTION.

And that’s enough of that… now I can get to what I really wanted to talk about today.

In our Wednesday Wealth Creation Summit we have gathered some of the finest trading minds on earth to talk about the challenges and opportunities we face over the next decade.

It is my hope that we give you some of our slam dunk trades for the next few years and I’d like to dive a little deeper into HOW I COME UP WITH A LONG TERM TRADE THESIS.

Here’s how I think about things now.

We have several possible macroeconomic scenarios that could play out.

I’m looking for a story that makes logical sense… and more than that…

I’m looking for an industry that’s been beaten down for years and years.

Something that’s been through a devastating bear market and THEN a period of such profound boringness that it has been completely overlooked.

Something not hated, but now forgotten.

And then I’m looking for a CAPITULATION EVENT… a short sharp move down (like what is happening in crypto right now)...

And a strong move off the lows to give me strong evidence that all the sellers are shaken out and the bull market can resume.

This is MY method for finding trades you can hold for 5 or 10 years, and I’ll be showing it all this Wednesday at our Wealth Creation Summit 

The good news is that it’s not just my opinions and my methods. 

We have assembled some of the giants of trading to come share their wisdom…

Laurent Bernut is one of my idols and I’m thrilled to be in the same zoom room as him. He’s a brilliant author, hugely charismatic and funny, regular speaker at Quantcon and with one of the best long term track records in the Japanese Hedge Fund world.

Michael Mehrle is the best quant trader I know. Don’t believe me… this is his systematic option trading results the last 3 months.

Antoine Rousseaux is the best Altcoin researcher I know. Consistently unearthing gems for the next cycle, he hasn’t stopped working through the whole bear market and I’m thrilled to see what he thinks are the opportunities for next cycle (hint: the big plays are going to be in DeFi)

Together we will be discussing the enormous opportunities that this change in regime brings.

Make sure you register HERE 

Scott

P.s. If you want a sneaky-peek of our New Economy Bootcamp program… you can’t buy it yet (I’m going to release it for Black Friday with a huge discount) but reply to this email and I’ll give you a sneak preview.