There Has Never Been a Better Time to Be a Speculator AND/OR a Storyteller

Yesterday, Ellen, Rachel and I watched ‘The Lost Leonardo‘ (rented it on Amazon).

It was a fantastic documentary.

The story of the story was incredibly well done.

Whether you like/dislike/appreciate NFT’s and digital art you will learn a lot about why this moment in time is so electric and captivating.

I could spend a lifetime talking about all the things that have me steaming mad and excited about this one painting – the people, the provenance, the process and the institutions.

Let me make this point clear:

Never has it been easier to speculate. Never has the world been smaller (at least digitally). Never has capital been so abundant and never has there been so many storytellers with platforms to tell stories.

Get used to more ‘Lost Leonardo’s’.

You can watch from the sidelines (I am wired to mostly do that), complain about it (most people do) or jump in and ‘play’ and even do very well if you do the work, find the right people/network and manage your risk and time well.

Morgan Housel posted a great quote yesterday about ‘valuation’ that fits well right here and now:

“To suppose a stock’s value is determined purely by a corporation’s earnings discounted by the relevant interest rate is to forget that people have burned witches, gone to war on a whim, defended Stalin and believed Orson Welles when he told them Martians had landed.” – Jim Grant

Morgan also had a great post last February titled ‘The Best Story Wins‘. The gist:

A truth that applies to many fields, which can frustrate some as much as it energizes others, is that the person who tells the most compelling story wins. Not who has the best idea, or the right answer. Just whoever tells a story that catches people’s attention and gets them to nod their heads.

‘Stories’ not a new subject for this blog. I have a ‘Tell Me A Story’ set of posts that you can read here.

Have a great day.