This week’s Past-radamus is the CEO of Galaxy Digital, Mike Novogratz.
In an interview with Bloomberg, Novogratz noted that the collapse of LUNA was “very transparent” and chided naïve investors who lost everything for having “very, very little concept of risk management.”
“It’s true”, Novograzt told Planet Crypto. “I saw the collapse of LUNA coming a good two months after it happened. If only people had heeded my warning this week, they wouldn’t have lost all their money 10 weeks ago. Lesson learned, I hope.”
One of those naïve LUNA investors was a certain Mike Novogratz who enthusiastically poured Galaxy Digital funds into LUNA and, famously, even got a LUNA tattoo. Though Novogratz has a different explanation. “It might look to the untrained eye like I was a fan of LUNA. Actually, the tattoo was a way of revealing my prediction with a bit of showmanship. A bit like when a magician shows you the card you were thinking of. When I’m with a client whose money I have lost, I roll up my sleeve and say, ‘Is this the financial disaster you were thinking of?’ And it has been every time. It’s all they’ve thought of for weeks. You should see the shock on their faces.”
Novogratz has vowed to put his new-found ability to predict the past to good use in the hope of saving others. “I’ve just contacted NASA to warn them that the Apollo 12 mission in 1969 might get a bit hairy. I’ve advised Steve Irwin not to swim near that stingray. And this afternoon I’m off to the Lehman Brothers building to warn them about 2008.”
Past-radamus. Because the Markets are Easier to Predict in Hindsight.