The Institutional Risk Analyst

As we have said consistently, it is better to own the shares of stronger crypto enablers like HOOD and SOFI than the tokens themselves. It is the enablers who profit at the expense of the remaining true greater. We were watching a fascinating conversation with independent technology analyst and advisor Benedict Evans earlier this week and he made the point that serious technologists have largely abandoned crypto as an area of study.

At one point last year, HOOD was up several hundred percent, but has given back much of those gains. Yet the leaders of our finance group have outperformed the broad market.

Notice that SQ co-founder Jack Dorsey styles himself as "block head" in the corp roster, a silly affectation that does not help the stock

In dollar terms, the moves in 2023 were tiny vs the post March rally in 2020.

Is AFRM maturing from a hot new fintech entrant to a familiar face headed for a bank license?? Yikes.