Morgan Stanley on bitcoin: ‘the value would be $0’
2017-12-26
Morgan Stanley analyst James Faucette and his team sent a research note to clients a few days ago suggesting that the real value of bitcoin might be … $0.
That’s zero dollars. (Bitcoin stood at around $14,400 at the time of writing.)
The paper (titled “Bitcoin decrypted”) did not give a price target for bitcoin.
But in a section titled “Attempts to Value Bitcoin,” Faucette described why it is so hard to ascribe value to the cryptocurrency. It’s not like a currency, it’s not like gold, and it has had difficulty scaling. He concluded:
• Very difficult question to answer, but some points to consider
• Can Bitcoin be valued like a currency? No. There is no interest rate associated with Bitcoin.
• Like digital gold? Maybe. Does not have any intrinsic use like gold has in electronics or jewelry. But investors appear to be ascribing some value to it.
• Is it a payment network? Yes but it is tough to scale and does not charge a transaction fee.
• Bitcoin average daily trading volume of $3bn (last 30 days) vs $5.4 trillion in the FX market.
• Est. <$300mn in daily purchase volume vs. $17bn for Visa.
“If nobody accepts the technology for payment then the value would be 0,” Faucette suggested.
Of course, even if bitcoin can’t be used to buy goods it is still largely exchangeable for fiat currency.
Source: Morgan Stanley on bitcoin: ‘the value would be 0’ – Business Insider
Confident Investor indicator analysis for 12/26/2017. Interesting results from $CVCO $CBPO $STZ $SWKS
2017-12-26
| Stock ticker | Stock name | Last Close | Recommendation |
|---|---|---|---|
| AAPL | Apple Inc. | $175.0100 | Strong Buy or Hold |
| ABMD | ABIOMED, Inc. | $191.6400 | Very Concerned, may need to wait |
| ADS | Alliance Data Systems Corporation | $251.9900 | Strong Buy or Hold |
| ALGN | Align Technology, Inc. | $223.1200 | Very Concerned, may need to wait |
| ALXN | Alexion Pharmaceuticals, Inc. | $118.7800 | Strong Buy or Hold |
| AMAT | Applied Materials, Inc. | $52.0600 | Very Concerned, may need to wait |
| AMZN | Amazon | $1168.3600 | Very Concerned, may need to wait |
| AYI | Acuity Brands, Inc. | $172.1800 | Strong Buy or Hold |
| BABA | Alibaba Group Holding Ltd | $176.2900 | Some Concerns, may need to wait |
| BWLD | Buffalo Wild Wings | $156.2500 | Very Concerned, may need to wait |
| CBPO | China Biologic Products Inc | $79.6200 | Possible Buy or Hold, but some concerns |
| COF | Capital One Financial Corp. | $100.5000 | Strong Buy or Hold, but there are some concerns |
| CRUS | Cirrus Logic, Inc. | $52.3800 | Possible Buy or Hold, but some concerns |
| CVCO | Cavco Industries, Inc. | $148.7000 | Possible Buy or Hold, but some concerns |
| DPZ | Domino’s Pizza, Inc. | $192.8700 | Strong Buy or Hold |
| EW | Edwards Lifesciences Corp | $112.4900 | Very Concerned, may need to wait |
| EXR | Extra Space Storage, Inc. | $86.1200 | Very Concerned, may need to wait |
| FB | Facebook Inc | $177.2000 | Very Concerned, may need to wait |
| GOOGL | Alphabet Inc | $1068.8600 | Concerned, but watch close as good things may happen soon |
| GTN | Gray Television, Inc. | $17.2500 | Strong Buy or Hold |
| GWR | Genesee & Wyoming Inc | $78.1500 | Very Concerned, may need to wait |
| HDSN | Hudson Technologies, Inc. | $5.9200 | Strong Buy or Hold |
| HOG | Harley-Davidson Inc | $51.8400 | Concerned, but watch close as good things may happen soon |
| HSKA | Heska Corp | $80.9800 | Some Concerns, may need to wait |
| HZO | MarineMax Inc | $19.8000 | Very Concerned, may need to wait |
| IDXX | IDEXX Laboratories, Inc. | $157.6500 | Very Concerned, may need to wait |
| LNCE | Snyder’s-Lance Inc | $50.2400 | Strong Buy or Hold, but there are some concerns |
| LULU | Lululemon Athletica inc. | $78.4800 | Strong Buy or Hold, but there are some concerns |
| MCK | McKesson Corporation | $158.4400 | Very Concerned, may need to wait |
| MEI | Methode Electronics Inc. | $40.5000 | Very Concerned, may need to wait |
| MET | Metlife Inc | $50.7600 | Very Concerned, may need to wait |
| MIDD | Middleby Corp | $132.0400 | Concerned, but watch close as good things may happen soon |
| MNST | Monster Beverage Corporation | $63.7700 | Very Concerned, may need to wait |
| MRK | Merck & Co., Inc. | $56.3600 | Strong Buy or Hold |
| NFLX | Netflix, Inc. | $189.9400 | Possible Buy or Hold, but some concerns |
| NVDA | NVIDIA Corporation | $195.2700 | Possible Buy or Hold, but some concerns |
| PCLN | Priceline Group Inc | $1775.2600 | Strong Buy or Hold |
| REGN | Regeneron Pharmaceuticals Inc | $381.0000 | Very Concerned, may need to wait |
| SAM | Boston Beer Company Inc | $191.3000 | Concerned, but watch close as good things may happen soon |
| SBUX | Starbucks Corporation | $57.3000 | Very Concerned, may need to wait |
| STZ | Constellation Brands, Inc. | $223.8100 | Strong Buy or Hold |
| SUI | Sun Communities Inc | $92.0200 | Very Concerned, may need to wait |
| SWKS | Skyworks Solutions Inc | $97.0700 | Some Concerns, may need to wait |
| THRM | Gentherm Inc | $32.2000 | Very Concerned, may need to wait |
| TMO | Thermo Fisher Scientific Inc. | $190.4200 | Concerned, but watch close as good things may happen soon |
| TRN | Trinity Industries Inc | $37.2700 | Concerned, but watch close as good things may happen soon |
| UA | Under Armour Inc | $13.8000 | Strong Buy or Hold |
| ULTA | Ulta Beauty Inc | $226.2700 | Strong Buy or Hold |
Largest gainers today 12/26/2017 on my Watch List were: $COF $SUI $EXR $ALGN $DPZ
2017-12-25
| Symbol | Stock | Price change today |
| DPZ | Domino’s Pizza, Inc. | 2.378% |
| ALGN | Align Technology, Inc. | 1.9931% |
| EXR | Extra Space Storage, Inc. | 1.1154% |
| SUI | Sun Communities Inc | 1.0099% |
| COF | Capital One Financial Corp. | 0.9847% |
| LULU | Lululemon Athletica inc. | 0.9519% |
| ADS | Alliance Data Systems Corporation | 0.8848% |
| MIDD | Middleby Corp | 0.7631% |
| NFLX | Netflix, Inc. | 0.6998% |
| BABA | Alibaba Group Holding Ltd | 0.5533% |
| ABMD | ABIOMED, Inc. | 0.5298% |
| ALXN | Alexion Pharmaceuticals, Inc. | 0.4567% |
| AMAT | Applied Materials, Inc. | 0.3276% |
| GTN | Gray Television, Inc. | 0.2907% |
| IDXX | IDEXX Laboratories, Inc. | 0.2352% |
| SAM | Boston Beer Company Inc | 0.2095% |
| GWR | Genesee & Wyoming Inc | 0.141% |
| HOG | Harley-Davidson Inc | 0.0579% |
| LNCE | Snyder’s-Lance Inc | 0.0398% |
| AAPL | Apple Inc. | 0% |
| MNST | Monster Beverage Corporation | -0.0627% |
| BWLD | Buffalo Wild Wings | -0.064% |
| CRUS | Cirrus Logic, Inc. | -0.0954% |
| AYI | Acuity Brands, Inc. | -0.1334% |
| FB | Facebook Inc | -0.1409% |
| GOOGL | Alphabet Inc | -0.1858% |
| PCLN | Priceline Group Inc | -0.1984% |
| CBPO | China Biologic Products Inc | -0.2381% |
| HSKA | Heska Corp | -0.2587% |
| NVDA | NVIDIA Corporation | -0.3165% |
| STZ | Constellation Brands, Inc. | -0.3517% |
| TMO | Thermo Fisher Scientific Inc. | -0.3715% |
| MRK | Merck & Co., Inc. | -0.424% |
| SWKS | Skyworks Solutions Inc | -0.4308% |
| SBUX | Starbucks Corporation | -0.4863% |
| MEI | Methode Electronics Inc. | -0.4914% |
| HDSN | Hudson Technologies, Inc. | -0.5042% |
| MET | Metlife Inc | -0.5291% |
| TRN | Trinity Industries Inc | -0.5338% |
| AMZN | Amazon | -0.5448% |
| MCK | McKesson Corporation | -0.596% |
| CVCO | Cavco Industries, Inc. | -0.6348% |
| EW | Edwards Lifesciences Corp | -0.7149% |
| REGN | Regeneron Pharmaceuticals Inc | -0.8174% |
| ULTA | Ulta Beauty Inc | -1.0063% |
| UA | Under Armour Inc | -1.0753% |
| HZO | MarineMax Inc | -1.2469% |
| THRM | Gentherm Inc | -1.5291% |
Confident Investor indicator analysis for 12/25/2017. Interesting results from $MRK $DPZ $AYI $SWKS
2017-12-25
| Stock ticker | Stock name | Last Close | Recommendation |
|---|---|---|---|
| AAPL | Apple Inc. | $175.0100 | Strong Buy or Hold |
| ABMD | ABIOMED, Inc. | $191.6400 | Very Concerned, may need to wait |
| ADS | Alliance Data Systems Corporation | $251.9900 | Strong Buy or Hold |
| ALGN | Align Technology, Inc. | $223.1200 | Very Concerned, may need to wait |
| ALXN | Alexion Pharmaceuticals, Inc. | $118.7800 | Strong Buy or Hold |
| AMAT | Applied Materials, Inc. | $52.0600 | Very Concerned, may need to wait |
| AMZN | Amazon | $1168.3600 | Very Concerned, may need to wait |
| AYI | Acuity Brands, Inc. | $172.1800 | Strong Buy or Hold |
| BABA | Alibaba Group Holding Ltd | $176.2900 | Some Concerns, may need to wait |
| BWLD | Buffalo Wild Wings | $156.2500 | Very Concerned, may need to wait |
| CBPO | China Biologic Products Inc | $79.6200 | Possible Buy or Hold, but some concerns |
| COF | Capital One Financial Corp. | $100.5000 | Strong Buy or Hold, but there are some concerns |
| CRUS | Cirrus Logic, Inc. | $52.3800 | Possible Buy or Hold, but some concerns |
| CVCO | Cavco Industries, Inc. | $148.7000 | Possible Buy or Hold, but some concerns |
| DPZ | Domino’s Pizza, Inc. | $192.8700 | Strong Buy or Hold |
| EW | Edwards Lifesciences Corp | $112.4900 | Very Concerned, may need to wait |
| EXR | Extra Space Storage, Inc. | $86.1200 | Very Concerned, may need to wait |
| FB | Facebook Inc | $177.2000 | Very Concerned, may need to wait |
| GOOGL | Alphabet Inc | $1068.8600 | Concerned, but watch close as good things may happen soon |
| GTN | Gray Television, Inc. | $17.2500 | Strong Buy or Hold |
| GWR | Genesee & Wyoming Inc | $78.1500 | Very Concerned, may need to wait |
| HDSN | Hudson Technologies, Inc. | $5.9200 | Strong Buy or Hold |
| HOG | Harley-Davidson Inc | $51.8400 | Concerned, but watch close as good things may happen soon |
| HSKA | Heska Corp | $80.9800 | Some Concerns, may need to wait |
| HZO | MarineMax Inc | $19.8000 | Very Concerned, may need to wait |
| IDXX | IDEXX Laboratories, Inc. | $157.6500 | Very Concerned, may need to wait |
| LNCE | Snyder’s-Lance Inc | $50.2400 | Strong Buy or Hold, but there are some concerns |
| LULU | Lululemon Athletica inc. | $78.4800 | Strong Buy or Hold, but there are some concerns |
| MCK | McKesson Corporation | $158.4400 | Very Concerned, may need to wait |
| MEI | Methode Electronics Inc. | $40.5000 | Very Concerned, may need to wait |
| MET | Metlife Inc | $50.7600 | Very Concerned, may need to wait |
| MIDD | Middleby Corp | $132.0400 | Concerned, but watch close as good things may happen soon |
| MNST | Monster Beverage Corporation | $63.7700 | Very Concerned, may need to wait |
| MRK | Merck & Co., Inc. | $56.3600 | Strong Buy or Hold |
| NFLX | Netflix, Inc. | $189.9400 | Possible Buy or Hold, but some concerns |
| NVDA | NVIDIA Corporation | $195.2700 | Possible Buy or Hold, but some concerns |
| PCLN | Priceline Group Inc | $1775.2600 | Strong Buy or Hold |
| REGN | Regeneron Pharmaceuticals Inc | $381.0000 | Very Concerned, may need to wait |
| SAM | Boston Beer Company Inc | $191.3000 | Strong Buy or Hold |
| SBUX | Starbucks Corporation | $57.3000 | Very Concerned, may need to wait |
| STZ | Constellation Brands, Inc. | $223.8100 | Strong Buy or Hold |
| SUI | Sun Communities Inc | $92.0200 | Very Concerned, may need to wait |
| SWKS | Skyworks Solutions Inc | $97.0700 | Some Concerns, may need to wait |
| THRM | Gentherm Inc | $32.2000 | Very Concerned, may need to wait |
| TMO | Thermo Fisher Scientific Inc. | $190.4200 | Concerned, but watch close as good things may happen soon |
| TRN | Trinity Industries Inc | $37.2700 | Concerned, but watch close as good things may happen soon |
| UA | Under Armour Inc | $13.8000 | Strong Buy or Hold |
| ULTA | Ulta Beauty Inc | $226.2700 | Strong Buy or Hold |