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Welcome back to the end of another week with Renaissance - the newsletter equivalent of feeling as financially liberated as Uganda right now 😎

*America on their way to save Uganda from terrorism lol

Today at a Glance:

9 Rules To Nail Your 1st Crypto $1M

The Secret Gains Killer

The Renaissance Over-Under

Crypto Market & NFT News

9 Rules To Nail Your Crypto Investing - And Just Like Fight Club, There Are Rules

⚡ 1) Create a bankroll that you use to invest into risky tokens - This has to be based on actually allocating what you’re going to use. There’s no point in saying $10k if you’re actually only trading $170 every time because you uncontrollably wet yourself at the thought of losing. Whether it’s 1 Sol/0.1Eth , 5 Sol, if that runs out take a break & make changes to your strategy.

⚡ 2) Never turn and burn into a play. Meaning don’t sell all of your positions in 1 play to chase the next

⚡ 3) Don’t revenge trade trying to recoup losses, losing is part of the game - this is asymmetrical returns, loss aversion is going to immobilise you in this racket

⚡ 4) Never buy at all time high

⚡ 5) Always take out your initial investment at 2-3x returns if you’re nervous or have low conviction - this will keep your fund always alive. The point of investing is to KEEP making profitable investments. Not to risk blowing up.

⚡ 6) Never buy a green candle, only red candles. For those in the private group, they’ll know this from us by now - we don’t get excited, +50% candles doesn’t mean you’re late and to dive in. We know it will go way below, every trend breaks, don’t look at the 5 minute chart when buying - buy the trend when it breaks red and come back in an hour to check.

⚡ 7) Every coin has a 70-80% retracement after a pump, wait for that dip. Emotionally you need to handle that volatility as well, this isn’t a retirement cookout.

⚡ 8) Invest 10-20% of your bankroll per play, if the trade is going against you, check the community and chart to see if it’s still strong.

If the narrative has changed or the community and KOLs have gone quiet - sell up fast. These are Veblen goods - they get more interesting as the price goes up. As they get more attention and the price goes up even moreeee. 

⚡ 9) Silence gets you nothing - early in and early out, and manage your risk to keep playing.

And I’m ending on an odd number, 9, you absolute maverick mad man, what will I do next hahah 👀😂

Your life & loss aversion - we’re going to overcome it for you Renaissance family 💪

The only way to truly get what you want in life is via risk.

And yet you can’t take the risks because… you’re worried you have something to lose?

Do you believe life is fine to clock in and out of forever, to be what people expect of you? To take only the risks everyone else takes, yet you don’t want their lives?

This is your life and it’s counting down one minute at a time, we’re not here as some self-help self improvement shitty podcast!

We’re here to wake you up and be 1 of your 5 things you surround yourself with that might just help you take some action to get an outcome you want.

Here’s the real problem: You already KNOW you need to risk more and find the time and effort to do it. But you know you’re really kidding yourself saying you’ll wait until the time is right and somehow jump in with 2 feet and start investing thousands all of a sudden from nothing?

So here it is… exposure therapy to the loss.

(that’s right, Renaissance does everything scientifically with a philosophy behind it, my therapist would be impressed. Soooo Trisha, the next time you hit weak sauce at the bottom of the newsletter I see you👀. I see you what you’re all about. *queue seymour skinner pathetic gif)

And yes, we watched Fight Club this week, and yes it’s as amazing as always 🙄. But the philosophy behind it and its lessons of loss aversion and outlook vs normal everyday people are so apparent.

If you do not get comfortable taking the losses you will NEVER, EVER, get any asymmetrical upside big return in your life.

Question time… do you have anything in life you’re thrilled about that didn’t result from one initial risk you can trace it all back to? I can’t.

(and while I’m taking about investing as a framework here, I really mean in life - controlling your attitude to risk and loss is in many forms, dating and asking people out, moving country, job, extrovert vs introvert in situations etc).

So, while you digest that… just like Fight Club, we have some homework for you this week. 👏👏👏

Great clip and what we’re doing this week!

You’re going to go out there this week, and you’re going to invest in something in Crypto.

$10, $20, we don’t care.

And you’re probably going to lose, or you might get it right. Either way you’ll accept the outcome.

And you’re going to see how nothing bad really happened, how free you are to enter the market, take a risk and win or lose - and life doesn’t really change.

This week we’re going to get every single one of you comfortable with taking action and getting an outcome. You’ll have something to be genuinely proud about this week.

I mean it.

It’s a chain reaction to changing your life - accept the risk, and be ready to accept a loss. Then we get comfortable with what it takes to win.

Hit the reply on the poll below and let us know what you did! We’ll actually showcase some good ones next week!

LITTLE BITS 😎

Nancy Pelosi disclosed stock market trades made by her husband. He loaded up on AI plays like Nvidia and sold Tesla

Steve Cohen documentary and lessons as The Hedge-Fund King - this is who Bobby Axelrod is based of in Billions ffs, he’s a god (until he was struck down with a terrible case of the insider trading sniffles, but the show goes on!)

NYC shuttered 80% of its Airbnbs in an attempt to make housing more affordable. All that's done so far is make hotels more expensive

Ah yessss, a downward spiral… haha jokes, but success is like this so don’t worry about it - success isn’t as the crow flies…..

Oh what I’d give to be in a real Boeing Board meeting just to hear actual plans like this. 😂

These Meme Coins Outperformed Bitcoin In 2024 First Half’s $600 Billion Crypto Rally

Nvidia And These Surprise AI Darlings Are 2024’s Best Stocks

NOSTALGIA OF THE DAY

Wealth Building, Personal Finance Hacks & FAT FIRE

- Here at Renaissance we like to make money fast. But hey - we also like making it slow. That way we’re always making it!

- True wealth building can be a slow game. Money compounds, and the secret ingredient is time.

- After all Warren Buffet made 99.7% of his wealth after age 52………that was also when he started reading Renaissance but you get the gist. 🤷‍♂️

- Now we might not always be as patient as Buffett. But we’re going to discuss the secret killer that destroys your gains. And no it’s not cardio.

 Fees 💰

- Investment fees come in many forms: Annual Management Charges, Platform Fees, Commission, Transaction Costs, FX fees and they all add up!

- What may seem incredibly small at the time can compound into massive results in the long run. So you best be sure those active managers are worth paying the extra basis points in fees ……….looking at you Cathie 👀

- Over the last five years the NASDAQ QQQ ETF is +100.9% while ARKK is -9.20% and has twice as expensive fees!

- Let’s illustrate the huge difference fees can make. 👇

- If you invested $1000 per month for 40 years, at an average return of 7% and annual fees of 0.10% (which are common for a passive index such as the S&P), you would end up with $2.4 million and have paid $64K in fees.

- A lot of money, but not too bad. With $2.4 million even your fee crumbs are big crumbs.

- Now: If those annual fees were 1.50%. At the end of the 40 years you would’ve had only $1.7 million and have paid a whopping $800K in fees!

- And the charge above isn’t even that ridiculous. The average hedge fund annual fee is 1% to 2% of assets invested.

⚡

- Bottom line: Keep the fees low to hold onto those sweet gains. Just as getting 1% better each day turns us into polymath savants. 1% more fees each year means no beach house for you. 🏖😢

Meme of the Day

That’s a wrap for this week! Meet us on Twitter to talk all about it. Where we’ll send you jokes, tips, and all important news from the world of money, business and crypto and more! (@RenaissanceDly)