Crypto, Meme Stocks, and Movies with James Surowiecki

Rule Breaker Investing

The Motley Fool

Business, Investing, Invest, Rulebreaker, Stocks, Company, Growth, Stockmarket, Fool, Foolish

4.5 • 928 Ratings

🗓️ 19 July 2023

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

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Summary

Early on, Bitcoin was supposed to be a currency. Is it? Does it matter? James Surowiecki returns to our podcast to review previous predictions of a cryptocurrancy bubble, look at the future of meme stocks, and play a round of the time-honored Foolish game of buy, sell, or hold.

Companies mentioned: BBBYQ, GME, COIN, UBER, ABNB, BTC, ETHER, BNB, NYT, MSTR

Host: David Gardner
Guest: James Surowiecki
Producer: Rick Engdahl

Transcript

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0:00.0	You remember that friend of yours, the one who didn't believe in crypto?
0:04.8	It's a bubble, he said it's a bubble.
0:08.4	Now if that friend had been really early, really observant, that might have been as early as say 2011.
0:17.0	2011 when my guest this week was saying just that.
0:22.0	Or it might have been 2017 when Bitcoin started the year
0:26.2	around a thousand dollars a coin and closed the year closer to fifteen
0:31.2	thousand dollars. It's a bubble. Said your friend and at that stage it may not have just been
0:37.9	your friend you could just as easily have encountered the same thoughts on the cover of a respectable financial magazine or website.
0:45.9	Or it might have been 2021 when it became increasingly clear that Bitcoin Digital Gold, if you you will might well be very valuable but one
0:56.0	thing it clearly wasn't was a currency I mean yeah sure Elon was enabling people to buy a Tesla with Bitcoin but my guess this week who was on this
1:06.6	podcast in 2021 February to be exact was pointing out then as has become quite evident now that whatever
1:15.8	Bitcoin is it's really not a transactional currency. It's a bubble. You may have
1:22.1	friends like that, you may be that person. I'm not that person myself, but I do respect well-reasoned and articulated viewpoints on all sides. And my longtime friend Jim Serowiki is that friend for me.
1:36.2	Now Jim was not a big fan of crypto when he last visited us in 2021 and part of my
1:42.0	interest in having him back now two years later is to give him a
1:45.1	victory lap moment or two because FTX because meme stocks crashing because an extremely well-read brilliant intellectually
1:57.1	curious source of financial opinion for 20 years plus now Jim Serawiki has often been very and very helpfully right for
2:08.5	those who listen and that's you and I who get to listen in this week only on Rule Breaker Investing.
2:15.0	It's the Rule Breaker Investing Podcast with Motley Full Co-founder David Gardner. My freshman year at the University of North Carolina
2:27.4	at Chapel Hill there was this underage member of our class I got to meet and by the way people who are underaged in
2:34.6	college or shall we say quite bright Jim Sir Wicky was a fellow morehead
2:40.3	Kane scholar coming down from the north to get a free ride scholarship in the
	...

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