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No. 47 ⚡️ Recessions make millionaires but how? 🤔 Cheres is available for App Store pre-order 🍏

No. 47 ⚡️ Recessions make millionaires but how? 🤔 Cheres is available for App Store pre-order 🍏

December 25, 2022

Sup. Recessions make millionaires but how? 🤨 Cheres is available for App Store pre-order 🍏, Big Papi Fidelity is like your rich acquaintance validating your outfit (AKA: Buys Ethereum) ☄️ Mindset shifts in the economy and opportunities galore 📈

Wait, millionaires are made in recessions? My portfolio looks a lot more like Meg's briefcase tho… K, so here’s the deal. Many have made wealth during recessions and better yet, normies like you and me 💫 Don’t believe us? Here’s the receipts 🧾

Here's how 3 retail investors made their money during historic American Recessions:

🙋🏼‍♂️ Grant Sabatier (Housing Crisis, 2008): Most people think millionaires became rich only because they came from money. While it doesn't hurt to have money, it's not necessary to make it either. Grant was a regular guy - in fact - he didn't have too much money in 2008. He invested most of his paycheck into the market, and checked his progress daily. While no one likes checking their accounts seeing it all go down, it's crucial to keep tabs on it while having a long term outlook. What did he do?Checked his portfolio everyday: Instead of freaking out, he looked at his portfolio and found ways to increase the amount at the beginning of the month every month so he wouldn't spend his savings. He invested in a Money Market Vanguard account through his 401K and low-cost index funds - $200 here and there until he got his groove. Five to six years later he had a hell of a lot to show for it.
🙋🏻‍♀️ Stacy Trinh (Housing Crisis, 2008): The 34-year-old Honolulu native wasn't going to let a recession get in her way of reaching her goal - becoming financially independent by age 40. She started aggressively investing through her 401K. Trinh invested consistently throughout the recession and despite seeing her money go up and down, as she persisted, her account grew to a couple hundred thousand dollars. What'd she do?Invested aggressively in her 401K: Similar to Grant, Stacy invested through her 401K but she was quite aggressive given her goals. She invested half of her paycheck into her retirement account. Buy low sell high?
👴🏻 Paul Getty (The Great Depression, 1930s): I needed to add an OG, so don't hate me. The oil tycoon made his money during one of the worst economic times in U.S. history. As companies were desperate for cash, Getty took what he had learned earlier in his investing expeditions. He acquired undervalued oil stocks and real estate. "It's the opportunity of a lifetime to get oil companies for practically nothing,” he wrote.Invested in what he knew at low prices: The "everything's on sale!" attitude helped Getty invest in what he knew best - oil stocks. Five years after buying Tide Water shares for $2.12, they were worth more than $20.

These boomers must all be Cheres followers from the past ‘cause somehow they all knew to buy low, and sell high… you’re welcome Paul Getty 😌

📝 What does this mean for my investing?Keeping yourself calm, cool, and collected during times of crises is what separates the bb’s from the normies. Checking your portfolio isn't a bad thing - if anything it's encouraged so you can stay focused and ride out the wave. Hone in on the equities you believe in and swing when the time is right. Mark Cuban spit fire when he said, “all it takes is one home run” 🥇

Fidelity buys $5M worth of Ethereum: Ouuu how I like old vs. new

Fidelity, one of the biggest asset managers in the world, bought over $5M worth of eth for their mystery client. Head of Fidelity Digital Asset Management, Chris Tyrer, has more than an eye of a tiger. While we may be thinking its a whopping sum, in the world of asset management, meh it's quite small…Still Tyrer stated $5,018,184 was raised from just one client for the Ethereum Index Fund.

It says something for how larger players view Ethereum. The Big Papi's or corporations as you know them are whales when it comes to the market and they blow us lil retail investors out of the water. It's kinda cool to know corporates look to us - peasants - to help them with their investing decisions and ultimately we got something they don't…~influence~. Any, as they buy their influence with millions $, it's important to recognize how Fidelity, their clients and overall larger stakeholders move markets.

“Fidelity recognizes the need for a diverse set of products and solutions that help customers gain exposure in a manner that aligns with their distinct financial objectives and risk tolerance. We have continued to see client demand for exposure to digital assets beyond bitcoin.”

There you have it folks. Fidelity's clients are begging for more than Bitcoin. Maybe Buffet's desire to investing in anything with actual utility (no disrespect to BTC) had something to do with it, but as we all navigate crypto, it's a win win situation.

📝 What does this mean for my investing?Larger institutional funds move markets whether that's the stock market or cryptocurrencies because the more money you have to invest, the more influence you'll have on the price / ecosystem when you buy / sell. So…Fidelity pouring capital into Ethereum may give the crypto a bit more security. It's like when your rich acquaintance shows up to the office wearing your exact same outfit - the one you've been making a thing for over a year now. Valid.