Equities up, volatility down

Hello and welcome to Alts Cafe

I’m keeping things brief with this week’s Alts Cafe as I’m away celebrating my ten year anniversary.

TLDR:

  1. S&P and NASDAQ are up
  2. BTC was down for the first time this year, as people took money off the table
  3. Money is flowing into India-based startups (KRR invested $250 million into an India-based decarbonisation platform)

Caffeine up and let’s go, Alts fans.

Wyatt

Macro View

It was a quiet week overall, which lifted equities and squashed volatility.

Everything pointing in the right direction

Bullish News

  • The Eurozone grew slightly in Q1.
  • The Dow had its best month since January.
  • U.S. job openings fell for a third straight month in March, and layoffs increased to the highest level in more than two years.

Bearish News

  • First Republic became the second-largest bank failure ever.

What are we doing?

ALTS 1 fund news:

No news here.

Real Estate

Bullish News

  • The largest undeveloped waterfront parcel in downtown Miami was sold to a local real estate owner for roughly $1.2 billion.

Bearish News

  • Short sellers have ramped up bets against commercial mortgage REITs.
  • The annual spring home selling boom hasn’t materialised this year.
  • Citi publicly admitted what we all already know – offices are dead.
  • Blackstone limited REIT investor redemptions again in April.
  • UK housing inventory is way up.

How to invest in real estate right now:

I’m still out of the real estate market [no change].

Crypto & NFTs

Here’s what you need to know:

Bitcoin showed its first weekly loss in 2023 as investors consolidated gains.

Sentiment dipped slightly along with prices.

NFTs actually outpaced crypto for the first week since January.

Not a pretty sight.

Bullish News

  • Mastercard is expanding further into crypto.
  • Coinbase is opening a derivatives exchange in Bermuda as part of an international expansion plan.

Bearish News

  • Coinbase execs and VCs have been accused of dumping $1 billion in shares before the stock tanked.
  • Crypto exchange Polinex agreed to a $7.6 million fee to settle accusations of violating SEC rules.
  • The SEC fined Seattle-based Coinme and related defendants nearly $4 million for conducting an unregistered and misleading offering of a crypto asset called UpToken.
  • The White House is pushing a 30% tax on crypto mining.

How to invest in Crypto & NFTs right now:

Keep it simple and clean. Avoid anything risky and stick with top-tier coins.

We’ve talked about Roots before, a REG A REIT that allows anyone to build wealth through real estate.

Their asset class is single-family, and they have a unique model where residents of the properties can get invested into the fund through a security deposit, and earn quarterly rebates for taking care of the properties and being good neighbors. It’s a win-win.

Best of all, I’m delighted to say they’re up 16% in the last 12 months. Super impressive.

We’ve been working closely with these guys, and one of the co-founders has opened up his calendar to Alts readers so you can schedule a 1:1 call. It’s a great opportunity to ask questions and get a feel for what they’re doing.

Book a call today.

Startups

Bullish News

  • META raised $8.5 billion via a debt offering at less than 2% above treasuries.
  • American PE giant KKR invested $250 million in Serentica Renewables, an Indian decarbonisation platform.
  • OpenAI raised $300 million at a $27 billion valuation.
  • IBM says they’ll replace jobs with AI.

Bearish News

  • Lyft is bringing employees back to the office as it tries to shore up flagging results.
  • The backlash against AI as an investment opportunity has reached the mainstream.

How to invest in startups right now:

Have a look at India. It just passed China as the world’s most populous country, and institutional capital is flowing in.

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

Fans of what we do here? Please send this email to five friends. We appreciate it.

Cheers,

Wyatt

Disclosures

  • This issue of Alts Cafe was brought to you by our friends at sliceNote and Roots
  • We are holding BTC and ETC in our ALTS 1 Fund. Apart from those, we don’t own any other assets or vested interests in the companies mentioned in this email.

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Author

Picture of 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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