Apr 10, 2022Liked by Foot Guns

There is a limitation to the length of the post, so the key take away is what is proper behavior and Saylor’s returns are not spectacular (42% in 3 years) and do not reflect the spectacular returns that pulls in so many crypto hopefuls.

The Bitcoin uber bull, the guru of many, the legend, has reached returns which could have easily beam replicated or improved by investing in a simple index fund and many individual stocks.

Of course as always, what returns have been since 2019 depends a lot on individual decisions, many scenarios are possible. But to keep it simple, Saylor’s returns are known, and they r nothing special, especially not if you start including risk adjusted returns and take into account dividends. Good luck.

Expand full comment
Apr 9, 2022Liked by Foot Guns

I agree - why are Thiel and Saylor so upset by Buffett & Munger? They should just ignore them.

But you made a very poor performance comparison. You are measuring the S&P 500 return from 2019 to today, which is 62%. Yet you measure bitcoin's performance from Microstrategy's average purchase price of USD 30.7k which bitcoin only reached in January 2021. You need to use the same starting point for both, i.e. either mid-2019 or Jan. 2021. Since mid-2019 the S&P 500 index returned 62% while bitcoin returned 300% from the same starting date. And since 1 Jan 2021 the S&P 500 index returned 20% while bitcoin returned 42%. Either way, Saylor is way ahead of the S&P 500 index.

Expand full comment