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Crypto pundits: “Short-term price doesn’t matter. Just buy & hodl forever!” If you follow that blindly, you will get rekt. Not convinced? Look at these shocking lessons from the dot-com bubble👇 1. Yes, the tech was exponential. The number of internet users grew at a compound rate of over 20% a year since 1995. Now reaching half of world population. Since the 1990s there hasn’t a single year where the growth rate was not positive.…

Was reading the excellent memo on value vs growth by @howardmarksbook, and thought abt how his insights may apply to crypto, and investing in exponential trends in general 👇 (Texts in images from Howard Marks. Comments mine.) 1) First, low price tag doesn’t mean something is a bargain. High valuation doesn’t automatically equal a bubble. All depend on how you expect future growth path to play out. Don’t dismiss the entire crypto market off hand…