This year has had no shortage of uncertainty… Whether it’s the market, the economy, or politics.
Although the midterm elections are over, vote counting continues with the control of Congress in the balance.
The economy is also sending mixed signals.
Inflation was down slightly in October. And job numbers rose above expectations. Yet, the Federal Reserve is still raising interest rates… which could stall last week’s rally.
And speaking of markets – it was a doozy for crypto. Just yesterday, major crypto exchange FTX collapsed and announced bankruptcy.
The company also ousted founder and CEO Sam Bankman-Fried. Bitcoin dropped as low as $15,682 – its lowest price in two years – on the news.
Some are calling the FTX blow-up the Lehman Brothers moment for crypto…
In 2008, Lehman went from being the fourth-largest U.S. investment bank with a market cap of $60 billion at its peak… to one of the largest bankruptcy filings in U.S. history.
The collapse triggered a massive panic in the market that almost destroyed our entire financial system.
While the implosion of FTX will lead to more short-term volatility in crypto… Daily editor Teeka Tiwari says it won’t be a long-term headwind.
As Teeka wrote on Friday, what we saw with FTX is a “greed” problem… not a crypto problem. The underlying blockchain protocols are working fine.
However, while the media fixates on the carnage caused by FTX’s collapse, Teeka says a Next Lehman is on the horizon. And an event occurring next month could trigger it.
According to Teeka, this crisis will occur in a market 155x larger than Lehman. And it’ll increase the pain many investors are already feeling.
That’s why at 8 p.m. EST on Wednesday, Teeka is holding a special briefing called “The Next Lehman.”
During the briefing, he’ll reveal the trigger that could ignite the Next Lehman and how to prepare now for this crisis.
It involves a little-known recession-proof asset that’s less volatile than stocks but offers double-digit upside… an asset Wall Street eagerly trades while leaving you in the dark.
He’ll even share the name of one of these ideas – absolutely free – just for showing up.
Click here to automatically reserve your spot for Teeka’s special briefing… and get the details you need to prepare for the Next Lehman.
Editorial Director, Palm Beach Daily