Alts Cafe – Jun 23

READ TIME: ±4 minutes

Hello and welcome to Alts Cafe for June 23, 2022.

This is everything you need to know about what’s going on in the world of alternative assets. Best enjoyed with your morning coffee.

Let’s go!

Pulse check: What’s the overall market doing?

Trailing 7 days

It’s been a choppy week, but the public markets ended up just about where they began.

Some are even calling for a bear market rally.

What are we doing?

Fractional Alts picks

There are no changes to our picks this week.

ALTS 1 fund news

No changes this week, but we’re looking to close on two new assets next week.

Crypto

Here’s what you need to know:

Another down week, but the bleeding seems to be slowing a bit.

The Fear and Greed index has ticked up to 11, which is a (relatively) positive sign.

I still think BTC may see $10k before it pops up.

People are slightly less terrified.

Bullish News

  • Hublot, a luxury watchmaker in Switzerland, now accepts Bitcoin as payment. (BM)
  • BlockFi received a $250 million revolving line of credit from FTX. (D)

Bearish News

  • The first inverse Bitcoin ETF listed on the New York stock exchange on June 22. The index was created to move inversely with the price of Bitcoin. It was up 4% in the first day of trading. (CD)

What to do with that info:

I’m still sitting on the sidelines.

Real Estate

Here’s what you need to know:

The 30-year mortgage rate hit 5.78%, which is the highest its been since 2008. Another record high, the median home price in the US is now $407,600.

That said, home sales fell 3.4% in May, which was the fourth straight month of decline. Overall, they’re down 8.6%. (MW)

Stuff gets more expensive, people buy fewer units of stuff.

What to do with that info:

If people can’t afford to buy, they’re going to rent.

It might be worth looking into some multi-family home investment opportunities.

NFTs

Here’s what you need to know:

Our newly-created NFTs index tracks nine NFT projects that I think are pretty representative of the PFP and NFT art market.

Overall, the nine projects are up around 10% over the last week.

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Chromie Squiggles in particular, had a great week, advancing 65%. Only BAYC was down slightly.

The advance (and slight decoupling from BTC and ETH) could be down to the massive NFT NYC event this week. There have been lots of hugs and high fives as industry elites try to calm down the unwashed masses.

Also, Pharrell Williams is the new Chief Brand Officer of Doodles.

What to do with that info:

We’re still on the sidelines, but I’m eying one or two pieces from the Currency collection.

Startups

Here’s what you need to know:

Deals are still getting done in startups world, but they’re slowing down quickly. For the first two weeks of June, the number of deals done was down 34%. For the last seven days? Down a whopping 43%.

caption for image

Funding rounds take months, so this is all on a lag. I expect the numbers to get worse as we go on.

What to do with that info:

Worse is relative, right? If you’re an investor now, especially an institution willing to lead a round, it’s a great time to be investing.

[Side note – if you’re an institutional investor looking to lead a round in a groundbreaking fintech startup, hit me up]

Quick hits

A 1977 Futbol Discs Argentina Juniors Diego Armando Maradona ROOKIE #11 PSA 7 sold for $192,000, a record high for any Maradona card. His cards have long lagged Pele’s due to his off-field activities.

An artist edition of Slaughterhouse Five by Kurt Vonnegut is available for pre-order on Suntup. Great book.

Thunderbolts news continues: “Incredible #Hulk #449, containing the first appearance of the #Thunderbolts, has EXPLODED onto the Hottest #Comics list, skipping all the way to position 6 after movie news broke last week.”

Lastly, three Italian wine specialists offered their insights into up-and-coming regions for wine🍷

  • “Sicily, especially Etna,” comments Cerruti. “Sicily always did well with Nero d’Avola, but now with Nerello Mascalese, it’s exploding. Also Emilia-Romagna with the interest in the old Lambrusco.”
  • “We are appreciating lighter red wines from Italy, such as Cesanese (Lazio), Dolceaqua (Liguria) and Frappato (Sicily).” He also sees another wine from Emilia-Romagna gaining new popularity these days. “It’s a great moment finally for Romagna Sangiovese.”
  • “I think the south of Italy is a gold mine. I can’t wait for more regions to get religion down there. Calabria, I think has great potential.”

That’s all for this week. Hope you enjoyed your coffee and this edition of Alts Cafe.

Any comments, questions or concerns – respond to this email. Cheers,

Wyatt

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Author

Wyatt Cavalier

Wyatt Cavalier

With a background in finance & intelligence analysis, Wyatt has an unhealthy obsession with finding the best blue chip investment opportunities. His previous newsletter, Fractional, resonated deeply with subscribers, bringing actionable insights and unconventional trading strategies. His rare book collection specializes in banned editions. He currently lives in Spain with his beautiful wife, three young boys, and dog Monty.

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