Thread by @choffstein

New 🏴‍☠️Pirates of Finance episode out!

@JasonMutiny and I talk collectibles and have a special guest on to talk about the world of Scotch.

If you enjoy, please like, subscribe, and leave us a comment!

And if you don’t, let us know that too!

@JasonMutiny Some highlights…

1. UHNW investors have more money in collectibles than gold/precious metals.

(Are they just coming up with an excuse to buy what they want?)

@JasonMutiny 2. “What is a collectible?”

Beauty is in the eye of the beholder.

But it’s a pretty big and diverse space.

@JasonMutiny 3. And while prices did skyrocket in Q4 2020 for many of these assets, it turns out the long-term returns are actually pretty competitive with traditional assets.

(If you believe the numbers, at least.)

@JasonMutiny 4. Here’s a price graph of Lagavulin 21 plotted over time (scraped from auction site data).

It’s gone semi-exponential in price lately.

But you can also see March 2020 stick out like a sore thumb!

5. There are some interesting fractures in the scotch market that can lead to opportunity.

For investing, it might make sense to stick to the "blue chip" names.

But for those who plan to drink it, there are some other interesting wedges to exploit...

6. For a few of those ideas, check out BadaBing Whiskey.

badabingwhiskey.substack.com/p/welcome-to-b…

7. One of the big questions I have is, "how does the market change when you fractionalize ownership of collectibles?"

Not only are you introducing a new vector of demand, but the argument about deriving worth from physical ownership disappears.

And check out our whole channel if you haven’t seen it!

We’ve got episodes on NFTs, ARKK’s liquidity issues, reflation, solar climate effects, and social sentiment.

And if you have ideas or suggestions for topics, let us know!

youtube.com/channel/UCsfk9…