I have had a fantastic week of work in London. All of it off the telco grid. I have survived on wifi, paper maps and friends.
Last night I got to hang with my good friend Yoni Assia (world traveler based in Israel), founder of Etoro (an amazing and almost global brokerage which I am investor in) who was wildly bullish on Bitcoin in 2009 at 20 cents. He begged me to own some while I was visiting Israel. I did not. Last night he used my Robinhood account to buy 1 share of Apple on my Robinhood iPhone app with the flick of a finger. He shared it into my stream to embarrass me. This classic tweet came back:
— Seth Thomas (@TheTommyRock) November 18, 2014
I asked Yoni if he was bullish in general. He said we will see Nasdaq 10,000 by 2016.
I asked him to elaborate a bit and I have paraphrased our conversation. The Nasdaq is hitting 14 (FOURTEEN) year highs. We are nearing the famous Nasdaq 5,000 mark. Here is a look:
— Antonio Costa (@ACInvestorBlog) Nov. 18 at 06:06 PM
At Nasdaq 5,000 in the year 2,000, mobile phones were all Nokia. There was no mobile web. Eighty hipsters were stealing all the dial up from CD ROMS.
Cramer was somewhat interesting. Now Josh Brown and Joe Wiesenthal get Charlie Rose face time. Everyone is a curator and the celebrity and in charge of filters.
Taxi drivers were giving stock picks in 1999, now they are entreprenuers driving Uber’s, trying to figure out Google Maps to earn their keep.
Steve Jobs was about to rock Apple’s world and ours. Google was not public. Zuckerberg was in high school. Social and sharing on the web, now fabric, were not in the vocabulary of the web.
Yoni’s grandfather has lived past 100 which is a miracle, but all three of his young kids could make it easily.
Software, 3D printers, plunging oil prices…
China, India and a new financial system built around the blockchain that takes global trading to the next level, leaving America in the dust as a global financial superpower.
From a sentiment perspective, the markets are hated…just for the rich, not real. Poor wages are real.
I can see Nasdaq 10,000 now myself in this light. Yoni sees it and more amazingly, without much help from America.