Business

Many others had done it, but nobody quite as blatantly as beverage maker Long Island Iced Tea Corp, which on Thursday became the latest to jump on the cryptocurrency bandwagon, bizarrely but profitably changing its name to Long Blockchain Corp, which sent its shares soaring by 500%.

In an ironic twist, we previewed LTEA's hilarious "pivot" just one day earlier when - discussing a similar surge in microcap stock Net Element - we said:

The dollar’s hegemony over the global financial system can’t last forever. Like all things, it will eventually come to an end.

The only question left, as MacroVoices' Erik Townsend puts it, is whether we’re in the second inning and there’s going to be another hundred years of the dollar serving as the world’s global reserve currency? Or whether we’re in the bottom of the ninth and it’s all about to fall apart? Or maybe somewhere in between.

A month ago, we highlighted a disturbing new record in the Hong Kong real-estate market – a market that received a ranking of “high” from Algebris Investment’s Alberto Gallo in his annual ranking of the world’s biggest asset bubbles.

According to a report in the South China Morning Post, the record price per square foot for a residence in Hong Kong was obliterated when a mystery buyer purchased two apartments in “The Peak” – an exclusive district.

Tesla is an uninvestable stock for me, not just because of its high valuation but also because it fails our fairly basic quality test, which I shamelessly borrowed from Warren Buffett: Would I still buy this stock if right after the purchase the stock market were to close for ten years? If you are a big Tesla car and stock fan, before you start throwing rocks at me, pause and wait till you finish this article – the rocks and I will still be there.

Authord by Lance Roberts via RealInvestmentAdvice.com,

Yes, Virgina, There Is A Santa Claus

Every year, at this time, I republish the story of 8-year Virginia O’Hanlon who asked the most important of questions. I encourage you to read it as it reminds us of the importance, meaning and the “Spirit” of the Christmas season. 

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