Welcome to Talk Money Weekly - where I cut through the noise and curate the best money-related topics from the web.
I was off last week, but we're back! Lots to catch up on. Lots of new things coming. Very excited to share in the coming weeks.
On to the newsletter!
Markets & Business
The new episode of Talk Money Weekly is now live! In this episode, I discuss why the crypto markets have been super volatile, especially with the recent 50%+ crash. Things tend to be a bit better this week but expect ups and downs. This is normal for an asset that runs up so quickly.
I discuss the catalysts for the sell-off, how to think about investing, and what not to do. It was bound to happen and was expected by many, but it's definitely hard to watch. Are you a weak hand or a strong hand? Listen now to find out.
What are shitcoins? Dogecoin, Shibu...whatever the next "meme" coin is. The next get-rich-quick coin. By the time you hear about it, it's too late. It's usually how it goes. Ari Paul is the managing partner at Blocktower Capital, a crypto hedge fund. He makes a very good point.- buy quality, and just hold on to it.
When it comes to quality in crypto, Bitcoin and Ethereum are your go-to, but there are other smaller ones as well. Look at what Coinbase lists. Look at what Bitwise puts in their indexes. Then dive into each of those and see what you're interested in. Just don't go all-in into the last hype. Read this thread. Lots of good advice.
Lots of plans for crypto-focused content in the future. Can't wait to share.
Inflation is constantly being brought up. Costs are going up. Those affected the most are the bottom 20% of American wealth. This is the most unfortunate part of inflation. The rich get richer, the poor get poorer. Buying power goes down. The middle notices, but it doesn't have a terrible impact.
Food costs go up, gas prices go up, travel costs go up. Everything goes up. If a difference of $1-3 dollars makes a huge difference to your costs, it's going to be painful. It also affects the bottom line for corporations. How do corporations cut costs? It's either lowering the quality of products, cutting jobs or raise prices.
This is fucking insane. 18 years from now, sending your kid to an Ivy League is going to cost over $700K. That's only if things stay as they are now. I imagine with increased competition from disruptive education companies and the need for colleges to lower their costs, things will change.
In our episode about higher education, we did discuss how Community College was the smartest financial decision one could make. Go to Community College first, get some credits, and then transfer over. There are lots of simple things one can do to avoid these INSANE costs. #1, is teaching your kids about debt and equity. College is about the experience, at least in undergrad. Kids need to make the best economic decision and need to be trained to do so.
Cocaine and crack are almost identical. One is more expensive than the other. They have specific target audiences. It's easier to go to jail for crack than it is for cocaine. Why? Systemic racism is a thing. Damn.
That's all the news from this past week! If I was to make this newsletter into a Youtube show, would you watch it?
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