After Bitcoin reached a staggering high value selling for over $1,000 in a single coin, it’s now sinking. Some investors might be tempted to think this is a chance to buy the big cryptocurrency on the cheap, but not so fast says Paul Mampilly, the author of Banyan Hill’s “Profits Unlimited” newsletter. The high Bitcoin Prices of 2017 were the result of a bubble where too many people started buying into it before they saw the end game similar to how tech stocks got bought up in the 1990s. Paul Mampilly explained in his article that he recognized the pattern of values being driven artificially high so he decided to avoid the cryptocurrency. He said the current price drop in Bitcoin is likely to keep going for some time, and despite what some investors say it is not a substitute for gold. Read this article at Daily Forex Report.
Cryptocurrency Is only one field Paul Mampilly covers in his newsletters. He’s been buying up stocks and ETFs in technology-based businesses and writing about strategies for finding the right ones. He has been managing his own portfolio since the days he was making trades for large investment banks and hedge fund clients on Wall Street. Paul Mampilly came from a working family in India and became interested in finance while attending Montclair State University. He completed his bachelor’s degree there, and one of his first jobs was doing credit and investment research for Deutsche Bank. Then he became the chief manager for high value commercial bank accounts at ING and Banker’s Trust. Mampilly’s entrance into the hedge fund platform began when he joined Kinetics International Fund in 2006 and turned it into a $25 billion AUM firm. Barron’s magazine even headlined him as the leader of the hedge fund who was responsible for growing client portfolios by 26℅ annually.
Outside of his work at the hedge fund, Paul Mampilly also made news when he joined an investment competition during the 2008 recession. He gained 76℅ on $50 million in stocks that year and never bought into high-risk companies or shorted the stocks. In 2012 Mampilly retired because despite all his accomplishments, he was unhappy with the way his life was going. So he moved with his family and four years later surfaced in a video explaining his new gig at Banyan Hill. Mampilly now helps those who want to build wealth to secure their future and just need a few pointers to do it. You can subscribe to his newsletters at www.BanyanHill.com. Visit: http://www.stockgumshoe.com/tag/paul-mampilly/