Paul Mampilly is a Montclair State University graduate, where he was a finance and accounting student about 27 years ago. He later joined Fordham Gabelli School of Business where he attained a Master of Business Administration. Currently, He is a renowned investment and financial guru in America.
He perceives cryptocurrency and its gains in a unique way. According to him, the bubble of the cryptocurrency is on the verge of bursting. Despite his inability to predict exactly when it’s going to happen, he strongly believes that it will be sooner than later and many people will incur losses. Read this article at Seeking Alpha.
In 1999, a similar case happened where every investor was sure of making hefty gains from the stock market rally. Tess, Paul’s friend, had invested heavily in technology stock shares that were up to over 1000% but that same year, the great bubble exploded robbing many investors of their wealth.
The 1999 bubble burst was inclusive of big companies with a good reputation. Most of these companies in the technology industry had their stocks going up to 1000 percent at the very least. Paul Mampilly insists that the stocks did not represent mysterious companies but the very famous and respected ones that had even earned a place in Nasdaq Composite Index.
The inflated stocks in the money market in 1999 was a clear sign of the insanity in the market. Regardless, that enticed new investors into the business without knowing that they were falling into a wealth sinkhole. The Templeton Foundation Investment competition winner, Paul Mampilly, predicts that the same is about to happen in the cryptocurrency business from its current trends. Meet the experts on Sovereignsociety.com.
Paul Mampilly foresaw the 1999 explosion. As a result, he completely sold out his stock shares before the explosion. He then observed the market’s stock prices as they rose day by day. The rise at first was 20, 30 and 50% that prompted Paul to think selling his shares was a poor plan. Nevertheless, he appreciated his decision in 2000 and 2001 when the stock market hit extreme lows. He was happy as he had withdrawn all his money making zero losses. He had warned Tess, but his warnings fell on a deaf ear. She thus ended up making huge losses.
Cryptocurrency has amassed a lot of wealth for many investors in the recent past over a short period. According to Paul, wealth that easily comes easily goes. He points out that the same trends are in Bitcoin and Ethereum. He warns that they are headed for the same crash as the cryptocurrency.