This Week, Gold Flashed a Bullish Signal We Haven’t Seen in Over a Year
Paul Singer is the CEO of Elliott Management, a fund that boasts one of the most impressive long-term track records, generating a compound annual growth rate of 13.5% since its inception in 1977, with only two down years.
Singer sees potential investment opportunities in distressed stocks could soon open up, and in 24 hours, investors coughed up a fresh infusion of $5 billion – the largest raise in the fund’s history and a testament to how much starvation there is for yield today.
Gold posted a “golden cross” this week, which is what happens when the 50-day moving average climbs above the 200-day moving average – an incredibly bullish move.
Gold isn’t alone. As I pointed out in our Cryptocurrency Playbook, Smart Money” is terrified right now.
The VIX, which is the volatility gauge, is at an all-time low, and that has always been a predecessor to highly volatile periods.
That’s why Bitcoin has doubled in a matter of months, and it’s also why there are now close to 700 cryptocurrencies, all of them locked in a race to see which ones will come out on top. They’re collectively up more than 400% so far this year.
Bitcoin is so volatile that it trades within a $500 range on some days.
Let me explain how terrified Wall Street is. We’re about 20 days away from another FED meeting, where the odds are they’ll raise rates by another 25 basis points.
Wall Street firms now pay obscene amounts of money to supercomputer operators before reaching decisions. They’ve reached a point where algorithms called “quants” make all calls. Today, 27% of U.S. equities are traded using software.
These data gathering machines compile information going back a century and can determine within nanoseconds whether or not to execute on a trade.
I can’t wait to see them fail, because like all machines, they lack emotions and reasoning power, which are the two key determining qualities of investment success.
That’s why these algorithm trading firms go out of business every 18 months.
Don’t allow anyone or anything to disempower you.
Ultimately, fortune, success, and personal gratification are under your control for the most part. It’s true that timing and luck are out of our realm of reach, but my feeling has always been that if we take care of our end of things, timing and luck will come through for us.
Aliko Dangote is the richest African man in the world, with a net worth of over $11B. With a controlling stake of the Dangote Group, he has commodity interests throughout the continent.
What I found truly unique about him is that he was able to become a billionaire after being born into wealth.
Most millionaires I know, including myself, are self-made.
When listening to his keys to success, he simplified them to 3 steps, which will prove to you that you don’t need fancy and expensive computer systems to make your life what you can now only dream of, but what you need are very human attributes instead.
1. Develop Your Personal Culture: Many of you know that this is my personal favorite so I listed it first because I was surprised Aliko detected the importance of this key as well.
To put it into simple terms, this means embracing who you are and losing all fear of criticism.
Not caring about how your actions may appear to others is a competitive advantage that can be translated into millions of dollars.
2. Partner Up: I can’t think of a more practical use of your time if you want to be an entrepreneur, especially if you already have a busy career and are justifiably reluctant to drop everything.
For me, partners are the only proven motivators of consistency. They hold you accountable, which is what we all need in order to press the gas pedal and not become complacent.
3. Invest in All Relationships, But Mind Your Time: I love this one because it’s so true, particularly in today’s complex world. Between your love life, sleeping, business, sports and outdoor activity, friends, family, alone time, and hobbies, 24 hours fly by fast.
What I’ve found is that if you are able to give your undivided attention to people while you’re with them and they completely enjoy your presence, you will be able to give most people the pleasure of your time, without allowing it to take over your life.
Developing a 2nd and 3rd income stream in a part-time manner, which is what I suggest to most, requires time – make sure you are able to control it.
The best way to manage a schedule is to have one, a fact that eludes most.
If you’re truly committed to a quality life, get moving. Billionaires are taking time to prepare for havoc, and plenty of opportunities will spring up soon.
Portfolio Wealth Global sees one such opportunity in the Canna-Business.