09.09.2019 — Cryptocurrency
The section Waking Up to Reality was an excellent read, having gems in few bullet points on when to get in and out of an asset.
Introduction (as found on the back of the book cover)
Attack of the Bear Market! is D.M. Brooks' fourth book release and third in the How Anyone Can Invest series. In this book D.M. examines the collapse of the crypto investments and the bear market opportunity that we find ourselves in. This book is an excellent read designed to bring a sober and positive perspective to the crash. Read more inside to learn how to prepare for the next bull market in crypto and what to look out for. A few things have changed since the second edition, and D.M. walks you through them in this latest release.
Motivation to buy
"Never judge a book from its cover", though I didn't, nevertheless, the catchy cover and title was the deciding factor to order the book and to give it a try. I found it to be a good read for someone trying to break in into the crypto (digital currency) space at this bearish time (however the market cap has recovered pretty much since the time the book was written from $109 million to $265 million, albeit still quite far from ATH All-Time-High of Dec 2017). As for me (and others who are watching the the market actively/passively for a while and have some background knowledge); Chap 6 Waking Up to Reality was an excellent read having gems in few bullet points on when to get in and out of an asset.
Chap 1 Crypto Background, Chap 2 What is Crypto-Currency? and Chap 3 How is Crypto-Currency Used?; are for novice individuals to understand briefly and in simple terms about
* crypto currency, its origin and why it is here
* blockchain - the underlying technology powering crypto currencies
* possibilities and theoretical use cases
Chap 4 Taxes and Crypto has extracted information about taxes on gains of crypto trading (beneficial for U.S. citizens and immigrants)
Chap 5 Crypto Trading Strategy mentions Pros and cons of Long term and short term investing strategy, this section is mostly filled with the mix of encouraging words and precautions. The favorite line for me was "Peaks are greater than normal stocks, but the dips are also deeper".
Chap 6 Waking Up to Reality, the best part of the book which convinces the reader that it is coming from an experienced investor/trader, condensing the information on when to get in and out of an asset. This section is Highly recommended!
In a nut shell, the book has guidelines for the beginners (and a reminder to the experienced ones) to break into the crypto-space and take advantage of the bear market by investing wisely and get higher return in the next bull market. You can find the book here: https://www.amazon.ae/Attack-Bear-Market-Anyone-Crypto-Currency/dp/1099240107/
"The stock market is a device for transferring money from the impatient to the patient." Warren Buffett