Tracy Britt Cool, former Warren Buffett deputy, has slammed crypto as 'digital tulips'
published on Wednesday, Tracy Britt Cool, a former top lieutenant of Warren Buffett, criticized cryptocurrencies as"digital tulips," echoing concerns about the sustainability and value of digital assets.
The letter, which highlighted Kanbrick's investment strategy, emphasized the importance of focusing on niche companies with moats led by exceptional individuals, rather than attempting to predict the future or rely on macroeconomic factors. The firm aims to deal with uncertainty by maintaining a margin of safety and prioritizing adaptability over perfect forecasting.
In the last year, the market has seen a reversal of the boom times, characterized by costless capital, SPACateers promoting their ventures, and a cacophony of promoters enticing Main Street investors with tokens and meme stocks. Cool expressed relief at the return to more sensible valuations and a decreased emphasis on leverage and financial engineering.
Despite these concerns, Cool and Kanbrick remain bullish on America, citing the nation's unique competitive position and resources.
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