🥕 Crypto Scammer In Prison... 🪙

How are you feeling? Welcome to the Friday edition of Wise Carrot.

Here’s the 3 min stack for today:

• 🪙 Crypto Scammer In Prison

• 💸 Is The Stock Market Crash Coming?

• 🥇 Random Rich Guy Of The Day

Crypto Scammer In Prison…

Whether you believe in crypto’s future or not (I do), you can’t help but to have reservations about blasting your hard earned money into that space.

Having coins and brokers disappear into the night - not fun.

Fallen crypto mogul Sam Bankman-Fried was just sentenced to 25 years in prison for virtually stealing $8 billion dollars from customers of his FTX cryptocurrency exchange.

One day he was considered the brightest mind in crypto and was set to revolutionize the world of coin buying and selling.

Next day he’s the most hated man in that world.

The lesson is this: Use caution. Don’t over-leverage yourself. Use multiple brokers and diversify in multiple coins.

Oh and don’t spend your rent money on crypto :)

Is The Stock Market Crash Coming?…

The stock market keeps hitting a new high it seems like every day now. In fact it’s on pace to have the best quarter in 5 years.

Just like with anything else, greedy pigs get slaughtered.

So many people jump into the market when good news like this comes out, only to get wiped out a month or 2 later… Get angry cuz they lost everything, and then jump right back in on the next good news.

Lot’s of institutional investors believe this could very well be a bubble, as prices on stocks are very inflated. At this point, a little correction wouldn’t surprise anyone.

Which brings me to my main point.

If you look at investing in the stock market or crypto as a get-rich-quick thing… Chances are you’ll be very disappointed.

There are always 2 types of investors. Ones that jump in and out with no rhyme or reason, and ones that are in for the long haul.

The latter ends up winning in the end.

So if you are in the market now and you’ve been for a while, a little correction won’t be cause for panic. If you invest $100/week religiously, you’ll welcome the lower prices because that means you’ll buy more - cheap.

Random Rich Guy Of The Day…

Leonardo Del Vecchio - Ray Ban

To earn a living when he was younger, Del Vecchio went to work in a factory making molds for auto parts and eyeglass frames.

At the young age of 23, he opened his very own molding shop. That eyeglass frame shop would become the world's largest producer and retailer of sunglasses and prescription glasses, Luxottica, which manufactures brands like Ray-Ban and Oakley.

Leonardo Del Vecchio died at age 87 on June 27, 2022. According to Forbes, his net worth was valued at $25 billion at the time of his death.

Just proves once again, you can make BIG money with ANYTHING.

Have a great weekend, you warrior!

/Wise Carrot/

P.S. If you missed any of our past newsletters, you can find the library right here: https://wisecarrot.beehiiv.com/

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