What is a Goxx Box? Glad you asked. It sounds like a Dr Seuss book, but it is in fact the home office of Mr Goxx. Mr Goxx is a German hamster that trades in cryptocurrencies. Mr. Goxx has been trading crypto since June, so he’s a professional now.
Mr. Goxx’s caretaker/ business partner built the Goxx Box as an attachment to its larger home. The box allows Mr Goxx to perform various exercises that then execute specific cryptocurrency trades. First, Goxx runs on the “intention wheel” to pick which one of about 30 cryptocurrencies to trade. Then he runs through one of two “decision tunnels” that trigger either a buy or sell trade of the chosen currency. The trades are then executed automatically.
The hamster can apparently enter its office whenever it wants to make trades. Mr. Goxx’s unidentified caretaker provided 390 Euros in initial capital, but there is no word on the profit sharing arrangements between the two. When we last looked, he was up 19% since June. That’s better than us! It’s also better than Warren Buffett, Cathie Wood, and the ASX 200. But for reasons that should be obvious, we don’t recommend outsourcing your investment management to a hamster.You can watch Mr Goxx in action here.
Sign of the Times 2, 3 and 4.
The Australian Financial Review recently reported on a survey of Selfwealth clients. Just 7 per cent said they use a professional financial adviser. A resounding 44 per cent base their decisions off gut feel. What could possibly go wrong with that.
And in other news, Banksy’s self destructing painting has just sold for the second time. The piece, “Love is in the Bin,” originally sold at auction in 2018 for about $1.4 million at Sotheby’s London in a viral stunt. The bottom half of the canvas of “Girl With Balloon,” began to shred as soon as the gavel hit, sealing the original sale. And would you care to take a guess at the sale price this time? Around $25m, or roughly 18x what it initially sold for, before it was half-shredded.
Finally, there are reportedly now enough empty apartments in China to house 90 million people. That’s more than 3x the population of Australia. More importantly, it’s around 6.5% of the population of China.
This month in (financial) history.
“This is the longest period of practically uninterrupted rise in security prices in our history. The rise was more rapid than has ever been seen, and its speculative attraction influenced a larger part of the public than ever before. The psychological illusion upon which it was based, though not essentially new, has been stronger and more widespread than has ever been the case in this country in the past.
This illusion is summed up in the phrase ‘the new era’. The phrase itself is not new. Every period of speculation rediscovers it. During every preceding period of stock speculation and subsequent collapse business conditions have been discussed in the same unrealistic fashion as in recent years. There has been the same widespread idea that in some miraculous way, endlessly elaborated but never actually defined, the fundamental conditions and requirements of progress and prosperity have been changed, that old economic principles have been abrogated, that the country has entered upon a period of unprecedentedly easy and rapid expansion, that all economic problems have been solved, that industry has suddenly become more efficient than it ever was before, that prosperity has become universal, that production and trade have been growing at an exceptionally high and permanently accelerating rate, that business profits are destined to grow faster and without limit, and that the expansion of credit can have no end.”
Taken from The Business Week, November 2, 1929.
Media & Presentations.
Last month, we spoke with Livewire (again) about how to use LICs for income and three we liked. You can read all about it here.
Around this time every year, we get to see the annual wildlife comedy awards finalists. You can view them all here. Enjoy.