[thesausageking]

> Given his pedigree...

Novogratz is a fun character and a good fundraiser, but he doesn't have a pedigree as an investor. He became famous (and a billionaire) by taking Fortress public. Under his watch, it then went from $35 to down below $2. After he was demoted, he ran a macro fund there which performed awfully and, in 2015, it was shutdown and he was forced into "retirement".

[Alex3917]

I was in his office chatting with him a year and a half ago, on the exact day of June or whenever the market hit its bottom, and he called that that day was the bottom. He does things that don't always make a lot of sense to me, but he wouldn't be a billionaire if he wasn't getting a lot of stuff right also.

E.g. he also bought 500k worth of ETH and sold it for 250M. Paid his taxes, bought a new plane, and donated the rest to charity. His LPs might be nervous, but he's probably doing just fine.

[thesausageking]

Hard to verify what you're saying. June wasn't a bottom for ETH and the most he could've made with that trade was ~4x.

But even if you're right and he did make a great trade, that doesn't make him a genius. He's a gambler and sometimes gets a great hand.

He was super bullish on EOS before it tanked. He very publicly called a bottom[1] for BTC on Sept 13th when it was $6,300 and it's down by ~50% since.

[1] https://twitter.com/novogratz/status/1040288811643809798

[Alex3917]

Ahh I was thinking of July 16th, 1017. ETH went from over $400 in June down to $133 in July.

https://coinmarketcap.com/currencies/ethereum/historical-dat...