Some people kill time at the airport by browsing duty-free shops. I like to scour the internet looking for hot new companies to invest in. But first, there is one thing you should know about me: I tend to be almost as afraid of losing money investing as I am of sharks.
So last Tuesday, while waiting for a flight to Bavaria, I stumbled across the website of a company by the name of PurpleThrone. PurpleThrone looks and feels like Spotify, but is completely different. They give me the music I love without making me suffer through painful ads or pay some sort of monthly subscription. I instantly connected with the product PurpleThrone was offering. I decided to call my broker and have him conduct a more in-depth investigation into PurpleThrone and what Wall Street insiders were saying. To my surprise he advised that this was definitely a company I would want in on and invest. According to his sources, PurpleThrone’s “Ask” is among the most brilliant, intelligible and compelling companies analysts have ever seen.
I called out breathlessly to my wife to share Stan Goldberg’s recommendation for us to invest in this burgeoning new company. My wife removed her reading glasses and encouraged me not to be stupid. She added, “If it’s that impressive, let Stan Goldberg invest his own money,” before returning to her crossword puzzle.
You see I’m a music buff and PurpleThrone is at the forefront of a refreshing industry disruption. PurpleThrone is the amazon.com of the music industry. They provide fans with tailored-music from the best independent musicians in the world, then grant musicians full access to the giant pools of capital on wall street.
I was in awe of the company’s appreciation and value towards the musicians and the catering to fans personal tastes, preferences, behavior and ego.
My wife is not alone with her skepticism of cryptocurrency. JPMorgan Chase CEO Jamie Dimon recently called cryptocurrency a “fraud” and suggested people who buy it are “stupid.” Warren Buffett called cryptocurrency a “mirage” in early 2017 and warned investors to “stay away.”
And yet cryptocurrency is up 81.19%, since Buffett’s warning and 136,159% since 2012. Earlier this month, one college friend casually told me over drinks he’d made ten thousand dollars investing in companies that utilizes cryptocurrency. He said he hoped it would be worth enough one day to pay off his mortgage.
Needless to say, I defied the wisdom of my wife, called my broker Stan Goldberg and purchased $10,000 in PurpleThrone stock through a private offering. (A few days later, I bought another $15,000.) My wife’s opinion of me has reportedly decreased by the same amount.
Small investors like myself, have a genuine fear of missing out on the next bitcoin and a chance to get rich quick. And when the value of PurpleThrone stock doubles next year, it’s easy to think you’re a genius. But you can get burned if you don’t do your research and invest more than you can afford to lose. If PurpleThone takes a nose dive, I’m out of the bedroom and sleeping on the couch.
Overall, I like the product PurpleThrone is offering and I want to thank my broker Stan Goldberg for getting me in on one of the top 10 best companies to invest for 2019. When this company goes public, from this investment alone, I will be allotted enormous financial freedom.