Investment guru Paul Mampilly has compared cryptocurrencies investment to the technology stocks of 1999. In an article he recently published in the Banyan hill.com, he drew similarities which exist between the two investment options. The only difference he notes is that the technology stocks happened in 1999 while the cryptocurrencies are happening right now. However, he is using the 1999 case to want investors about the impending problems they might encounter with cryptocurrencies.The clear similarity that exists between the two according to the former hedge fund manager is that they are both investment bubbles. He adds that the cryptocurrency bubble will burst right in front of us as we watch. Many current investors may not have witnessed the 1999 crush, but Paul Mampilly was lucky to have witnessed it. He learned from it and therefore when he warns investors about the impending crush for the cryptocurrencies, they should understand that he is talking from that point of information.
Many current investors tend to dismiss anyone opposing investment in cryptocurrencies as just jealous because they missed an opportunity to invest when the process was low, but for Paul Mampilly this is not a new thing to him. He has witnessed the same thing happen. When the 1999 bubble happened, many investors dismissed him as just an aggrieved stock adviser who prematurely sold his shares. Unfortunately, the dissenting voices were the ones who lost dearly when the bubble burst. Even with the cryptocurrencies, Paul Mampilly predicts the same thing will happen.
Investors who are adamant that this is the best investment opportunity they have ever seen will be the worst hit.Paul Mampilly adds that other big losers in bubble bursts are newbies. These are investors who just join an investment because they have got wind of an investment opportunity that is giving back supernormal returns. Newbies lose because normally, they do not have information to make decisions on their own. Many of them depend on the verdict of other investors, who also might not be knowledgeable, to make decisions. Such cycles create a huge pool of investors who have invested in something they have no information about.Paul Mampilly is telling investors to get out of the investment right now when it is early, and they can salvage some profits. Waiting further might lead to loss of all profits plus the initial investment they made. So, if you are an investor, be wise and follow the advice of an expert who has seen a lot then you have in the investment field. You might thank him, later.
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— Paul Mampilly (@Paul_M_Guru) November 9, 2017