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Stansberry Investor Hour

Stansberry Research

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4.4 • 677 Ratings

🗓️ 12 June 2023

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this week's Stansberry Investor Hour podcast, Dan and Corey are joined by Enrique Abeyta, an analyst from Empire Financial Research. Enrique shares his insights on investing and offers stock advice through his newsletters. The discussion starts with the recent lawsuits filed by the SEC against Coinbase Global and Binance for offering securities without proper licenses. Enrique then talks about his mosaic approach to investing, which involves analyzing various data points and perspectives. The conversation also covers the impact of technology on asset management and newsletters, the value versus growth investing debate, and Enrique's views on the banking industry.

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Transcript

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0:00.0	Hello and welcome to the Stansberry Investor Hour. I'm Dan Ferris. I'm the editor of Extreme Value and The Ferris Report, both published by Stansberry Research.
0:12.0	And I'm Corey McLaughlin, editor of the Stansberry Daily Digest. Today we talk with Empire Financial Research Editor Enrique Abeda.
0:21.1	And today, Corey and I will talk about cryptocurrency and the SEC and whatever else is on our minds.
0:27.2	And remember, if you want to get in touch with us, send a note to Feedback at InvestorHour.com
0:32.0	and tell us what's on your mind.
0:33.4	That and more right now on the Stansbury Investor Hour.
0:41.1	So. That and more right now on the Stansberry Investor Hour. So let's talk about crypto because the SEC is finally getting serious about it.
0:46.9	And they filed these two lawsuits, one against Coinbase, the largest crypto exchange in the U.S., based in the U.S.
0:56.2	And the other one is against Binance, which I think is the largest one in the world.
0:59.7	I know it bills itself as the largest Bitcoin exchange.
1:03.2	So, you know, the SEC is finally kind of going after them because essentially they're
1:10.1	issuing securities. This is what the SEC said. They're issuing
1:13.3	securities and they're not licensed securities dealers. And here's the thing, okay, I can't believe
1:20.0	at any time in the history of finance and Coinbase that their lawyers didn't say,
1:27.1	excuse me, just real quick, one second. I'm about 99%
1:32.6	sure that by the SEC rules, we're issuing securities and we're trading securities. So,
1:39.4	you know, just to let you know, they will come after us. It will happen. I can't believe no lawyer ever said that to them at any point in their history.
1:49.9	Yeah, they've said they've tried to talk to, you know, Coinbase has said they've tried to talk to the SEC, and they have been talking for two years, you know, at least.
2:17.7	And apparently they met with them 30 times last year. So I'm sure this, I'm sure, I'm sure this came up at some point. The big thing is, like you said, the SEC's suing them because they've offering unregistered securities. They're acting as an illegal broker.
2:23.6	However, nobody's defined what crypto really is.
2:27.1	Nobody's defined these things as securities yet, other than the SEC believes that they are.
2:30.5	So there we go.
	...

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