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Jake Woodhouse

“Bitcoin is having its IPO moment”

Interesting thesis

Makes a lot of sense

https://open.substack.com/pub/visserlabs/p/bitcoins-silent-ipo-why-this-consolidation?r=2rvibb&utm_medium=ios

Control-Plane Capital 2mo ago

I don't know who this Jordi Visser hopium salesman is and what he sells, and I don't have the time to correct him because I'd have to rewrite his very long article.

Admittedly, I only read like 60-70%.

If you want some information that's closer to the truth, maybe check some of what I've written.

I'll have to commit an Ad Hominem here because I don't really care to rewrite his article.

So who is Jordi Visser?

Current Position: President and Chief Investment Officer at Weiss Multi-Strategy Advisers.

- The firm faced bankruptcy due to high spending and poor performance management.

- A significant creditor accused the firm of mismanagement and improper financial practices.

- Legal disputes are ongoing regarding bonuses paid out before the bankruptcy.

But oh wait, there's more.

He is the architect and portfolio manager for the Weiss Alternative Multi-Strategy Fund (Ticker: WEISX).

Maybe I should invest in his fund, let's see how he's doing.

Damn bro, -15.71% since January of 2019. That's impressive.

I don't know how that's even possible but maybe I should start following his research just to fade him.

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Discussion

Jake Woodhouse 2mo ago

Whilst you’re absolutely correct to look at who the author is, and their track record, thank you for sharing

The message from the story told, in some ways, as a opinion piece, means it simply has to be judged on face value

And the key point is how high risk capital behaves, long-term, when it’s seen good gains, plus de-risking, plus a liquidity opportunity

This fundamental insight is helpful, through the analogy of an IPO, at least that’s what I felt

Now of course, one of the key things with Bitcoin is it’s always liquid, but what he highlights is the newfound depth of liquidity, which I liked as an insight

Control-Plane Capital 2mo ago

Yes mate, that's why I called out my own logical fallacy in the comment.

There's too much lazy Bitcoin information on the internet to address it all.

His article is an oversimplified, lazy, post-hoc rationalization.

It was probably written using ChatGPT and can be debunked using ChatGPT unless your prompt is absolutely awful.

The thing is, stability > truth at scale.

Seeing unpleasant truths requires staying regulated while holding dissonant facts. If anxiety spikes, the mind selects comforting models.

Control-Plane Capital 2mo ago

Forgot to write, I won't be able to invest in his fund. It went bust on April 1st 2024.