Edition #16: Psychology of Money, Altcoin Season, and the Coinbase IPO

Plus: Crypto Bonus Bonanza

Oz Chen


Today’s compliment: you are quick on your feet.

  • Last week: Surface Area of Your Knowledge and if you should ever pick individual stocks.
  • Today: Psychology of Money Highlights, Altcoin Season, Coinbase IPO, and Crypto Bonus Bonanza.

Psst — help me out. Vote on newsletter topics to tell me what you want to read. It’ll take just 30 seconds of your time.

📚 Psychology of Money: Lessons & Highlights

Want to read the book that inspired the creation of this newsletter? I’ve recommended it before and I’ll recommend it again: read Psychology of Money. It’s not a boring finance book. Rather, it’s full of interesting stories that’ll flip the way you think about money upside down.

I cover 7 of my favorite chapters out of the 20, and provide my personal takeaway from each one:

Psychology of Money Book Highlights

The stories about greed, history and our cognitive biases will really make you think twice about money.

>> Check out my book highlights from Psychology of Money

🗓 Altcoin season is upon us

In 2017, the world was swept by its first “altcoin season,” powered by Initial Coin Offerings (“ICOs”). Seemingly overnight, any new crypto with a half-legitimate website exploded in value… in the short term. The party ended with a screeching halt, leading to a crypto winter.

It’s 2021 and altcoin season is upon us again:

2017 taught me that market psychology looks something like this:

  • See incredible gains
  • Feel FOMO, buy in (usually at a high price)
  • Ride the high; feel smug
  • Market corrects. Don’t get out fast enough
  • Get burned or be left holding the bag