Paul Mampilly Is A Cryptocurrency Believer, But Says Investors Shouldn’t Buy Bitcoin Stocks Right Now.
The stock market reached record highs in 2017 thanks in part to businesses both domestic and foreign having a positive outlook on what they believed the Trump administration would implement with business-related policies. Paul Mampilly was one expert who recommended buying at the outset of that year, but in 2018 he believes the market is due for corrections and possibly even a bear market. He does believe 2018 will have good opportunities for investors, but one investment he warns against is Bitcoin.
Paul Mampilly shares his portfolio to followers and one thing he is known for is investing in tech stocks and talking about mega trends including cryptocurrency and blockchain technology. But while he said he might have recommended investing in Bitcoin a year ago, it’s become so popular that it’s reached bubble territory. Bubbles happen when investors consider an investment to be so high in demand that its value becomes too far overpriced, a phenomena that happened back in the late 1990s when internet companies were being invested in more so than they should have. Mampilly has already noted a decline in Bitcoin and says while it could rally that it’s ultimately going to sink low enough that it’s too risky to invest in right now. He says there’s other digital currency technology out there that’s a safer investment, and he discloses it in his newsletter.
Paul Mampilly spent over 20 years in banking and financial consulting on Wall Street before deciding to write articles and newsletters to educate prospective investors. He served at Deutsche Bank, ING, Sears and Banker’s Trust while at the same time building his own portfolio. Mampilly later said that his time may have been better spent acquiring knowledge on building his own portfolio, but he did gain a lot of insights as a bank advisor and hedge fund director. His biggest accomplishments came when he was Managing Director at Kinetics International Fund and helped raise assets to $25 billion, and then won the Templeton Foundation’s investment competition for turning a 76% gain on an investment he made during the recession of 2008.
Paul Mampilly retired while he was only 42 because he not only had made a big enough paycheck to do so, but he also wanted to work on his own time. He joined Banyan Hill Publishing because it gave him a chance to get to hear from his followers, and the price of his newsletters is affordable for most people. His three main newsletters are “Profits Unlimited,” “Extreme Fortunes” and “True Momentum.”
To see Paul Mampilly’s videos @ www.youtube.com