Asshat or Genius

Ellen and I have now been in the big Apple for two months. We are loving the Grammercy neighborhood. No surprises on the food front. Pizza, Falafel and Chinese Food have been the go to meals.

Today we went to ‘Junk‘ a matinee at Lincoln Center. It was our second play of this trip. I slept through the first one so let’s just say that the lighting was good.

After seeing a packed house for ‘Junk’ I think Broadway might be ready for the play I have been working on called – ‘Bitcoin – a Crypto Musical‘.

Ok..on to the post…

On Friday the Nasdaq hit ALL-TIME-HIGHS. Most of us are geniuses again. It feels great.

But, it’s a fine line in the money world between asshat and genius.

Bill Miller was a genius for 15 years straight (1991 to 2005) as he beat the S&P. In 2007, he was named Chairman and Chief Investment Officer of Legg Mason for all his genius and of course the financial crisis came calling.

He quickly became an asshat (at least according to The Fly and in 2008 he won the first and only Stocktwits ‘Asshat of the Year‘ award.

Bill is back now running billions after leaving Legg Mason and one of his smaller funds has 30 percent of it’s assets in Bitcoin and is up 74 percent in 2017.

Bill is a genius!

The markets have a way of making the geniuses asshats and the asshats geniuses.

If you are feeling down because you still own JC Penney or god forbid short Amazon, remember that it is easy to start fresh. Go to cash and start again.

Even Larry Blankenfein – CEO of Goldman Sachs – has to make customer support calls in 2017.


Also published on Medium.