Paul Mampilly began his career after graduating college in the finance industry. Over time he worked his way up to become the manager of several prominent hedge funds. His time on Wall Street gave him significant experience that he continues to use to this day as an investment advice columnist for Banyan Hill Publishing Company. Learn more about Paul Mampilly at Crunchbase.
Banyan Hill Publishing Company has recently asked all of their leading investment advice experts what their opinion of the action in the cryptocurrency markets is. There has been almost a mania regarding the explosion in the value of numerous cryptocurrencies over the last year. Paul Mampilly has recently published his viewpoints regarding this explosion in value.
Paul Mampilly recalls that whenever he was first getting his experience in the investment industry, he was part of the Bible that occurred in the technology industry during the late 1990s and early 2000’s. He can remember several friends who owned stocks in technology companies that had experienced incredible appreciation in value. The stocks that experienced these incredible explosions in value were not stocks of unknown companies. The companies that had experienced the increase in their stock values were major corporations that composed a significant portion of the stock markets technology sector. Many of these companies continue to function today in important roles for the global economy.
Paul Mampilly at the foresight to sell all of the stocks that he had invested in the technology industry in 1999. He continued to monitor the performance of the stocks over the next several years, and for a time he believes that he may have made a mistake. This viewpoint quickly changed during the early 2000’s when many of these companies had the values of their stocks decrease significantly. The friends who he had been investing with did not sell their stock at the same time that he did. Paul Mampilly was able to walk away with an increase in the value of his initial investment. The friends who had invested with him did not sell their stocks and did not walk away with anything. Instead of walking away with gains of over 1000% on their initial investment they walked away with balances of zero on their stocks.
Paul Mampilly believes that the trends in the prices of cryptocurrencies today are incredibly reminiscent of the same trends that occurred in the stock market of the technology industry during the late 1990s. He cautioned his readers that a crash is imminent.