Welcome to the Tunji Letter, Edition #49.
// Quote of the Week
“Beware the investment activity that produces applause; the great moves are usually greeted by yawns.” – Warren Buffett
Essentially, you do not need to follow the crowd when investing. In conducting your research and due diligence, you can make moves that will benefit you in the long term. Those moves may seem boring to your peers, such as investing a specific amount of money into the Vanguard Information Technology Index Fund ETF (VGT) every month, but you will likely end up on top when it comes to returns 5, 10, 15, etc. years from now.
// FOMO ETF
Recently, the FOMO ETF (FOMO) debuted. FOMO aims to give investors exposure to popular securities. It has no limits on size or domicile regarding the securities it can hold. FOMO can invest in special purpose acquisition companies (SPACs). Some of the holdings of FOMO include CISCO, 3M, Blackrock, IBM, and AMC. As of the market close on May 28th, 2021, FOMO has a price of $25.62 and an expense ratio of 0.90%. I do not find the ETF itself interesting, but it will be interesting to see its performance over the next couple of years and if it will still be publicly listed.
// Gemini and Mastercard Partnering
Last month, the cryptocurrency exchange Gemini and the multinational financial services firm Mastercard announced that they were partnering to launch a crypto rewards credit card. The card is planned to be launched in the summer of 2021. The card offers up to 3% back on dining, 2% back on groceries, and 1% back on all other purchases. What is offered back, you ask? The reward that is offered back is any cryptocurrency on Gemini, such as Bitcoin and Ethereum. There is no annual fee on the card. I find the card interesting. I think it is a great way to incentivize investing in cryptocurrency, which is here to stay for the long term due to its increased institutional acceptance.
// Latest Articles
Check out my latest articles:
· 2 Reasons Why You Should Consider Dollar-Cost Averaging
· A Publicly Traded Bitcoin Trust to Know About
· 3 Quick Points to Simplify Ethereum
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Thank you!
Tunji
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