ParkBridge Investor Insights: Thoughts On Bitcoins Meteoric Rise
Jonathan I. Shenkman, AIF?
President & Chief Investment Officer at ParkBridge Wealth Management
Happy November!
Welcome to the?ParkBridge?Wealth Management monthly newsletter.?
In this month’s newsletter I cover a wide range of topics including the oldest and most effective financial planning strategy, webinars on using trusts, and the fundamentals of SSI, SSDI, Medicaid and Medicare Eligibility, my thoughts on the meteoric rise in Bitcoin, and more.
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Questions, comments, or looking for advice, reach out via e-mail:?[email protected]
Have a great month!
Sincerely,
Jonathan
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Jonathan I. Shenkman, AIF?
President | Chief?Investment?Officer
ParkBridge?Wealth Management?
7600 Jericho Turnpike, Suite 302 | Woodbury, NY 11797
P: (201) 575-6275 |?[email protected]
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READ my recent articles/quotes (to read click on the link):
Check out ALL of my past articles here:?https://www.ParkBridgeWealth.com/articles
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WATCH (or read) my recent webinars:
11/14/2024: “Fundamentals of SSI, SSDI, Medicaid and Medicare Eligibility” featuring Amy C. O’Hara, Esq., CELA, Partner Littman Krooks LLP Watch or Read Transcript ?
10/31/2024: “To Trust or Not to Trust: A Tutorial on Trust Planning for Wealthy Families & Their Advisors” featuring Krista M. Fenske, Esq., Cole Schotz P.C. Watch or Read Transcript
10/15/2024: “International Estate Planning - Traps for the Unwary” featuring Eli Akhavan, Esq. LLM, Partner at Grant, Herrmann, Schwartz & Klinger LLP Watch or Read Transcript ?
9/19/2024: “Generation-Skipping Transfer Tax Tricks and Traps” featuring Bruce D. Steiner, Esq., Of Counsel, Kleinberg Kaplan, Wolff & Cohen, P.C. Watch Video or Read Transcript ?
Never miss a webinar by SUBSCRIBING to my YouTube channel:?https://www.youtube.com/@JonathanOnMoney
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SIGN-UP for my upcoming FALL webinars (to register click on the link):
ParkBridge FALL Webinar # 5:?11/26/2024 @ 8:30am on?“Last Minute 2024 Wealth Planning Ideas - Ensuring Your Clients Make the Right Moves Before Year-End”?featuring Jonathan I. Shenkman, AIF?, President & CIO, ParkBridge Wealth Management. Register here: https://us02web.zoom.us/webinar/register/WN_J1HPzyczQG6YIJen2Vvgvg
ParkBridge FALL Webinar # 6:?12/12/2024 @ 8:30am on “International Taxation Law in Israel: Are Your Client’s Prepared for the New and Evolving Rules?”?featuring Boaz Feinberg, Partner, Arnon Tadmor-Levy. Register here: https://us02web.zoom.us/webinar/register/WN_BeN3LlrDSjiOXfhbBVnvcw
Want to be notified of ALL my upcoming webinars? SIGN-UP for my webinar distribution list here:?https://www.ParkBridgeWealth.com/webinars
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LEARN from my favorite reader question this month:
Question: Do you regret your position on Bitcoin given its meteoric rise?
Answer: No, and before I explain why I don’t regret my stance on Bitcoin, let’s first review some of the things I have said in the past about Bitcoin:
“Bitcoin doesn’t sell anything or generate revenue, so it is not a business.”
“It has no cash flow and doesn’t pay interest, dividend payments, or any type of cash flow to investors.”
“It is not a commodity: Bitcoin isn’t tangible. It can’t be eaten or used to build something and, therefore, cannot be classified as a commodity.”
“Is it a currency? Bitcoin can be used for the purchase of goods or services. There has also been increasingly broader adoption among companies of accepting Bitcoin as a form of payment. The question is how practical Bitcoin actually is as a form of exchange since its value fluctuates wildly.”
So, everything that I have said about Bitcoin is still true. If you made 100 investments that were lacking the above fundamentals, just like Bitcoin, you would have lost money on 99 of them. Bitcoin is the one that is currently up in value. A big part of investing is risk management. Speculating on Bitcoin type of investments is not necessary or prudent for most investors. So, yes I stand by my position. It’s a framework that will inevitably stand the test of time (I can’t be so sure about Bitcoin).
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Podcast: SUBSCRIBE to the “Jonathan On Money” podcast by clicking on link:?Apple Podcasts,?Spotify,?or?Listen on my website
Description: “Jonathan On Money” explores various timely topics in the field of personal finance and its intersection with Jewish life. Recent Episodes include:
Episode 83: Where Do I Park My Cash Now?
Episode 82: IN FOCUS: “International Estate Planning - Traps for the Unwary"
Episode 81: New President! What Now?
Episode 80: IN FOCUS: "Generation-Skipping Transfer Tax Tricks and Traps”