Not a lot new to share with you about my portfolio this week, and I don’t have any grand insight into what Fed Chair Jerome Powell will say about at Jackson Hole later today, so I’ll spend most of my Friday File time this week diving into another teaser that our readers are asking about. Stay tuned at the bottom for a few updates about NVIDIA and Brookfield, but we’ll mostly look into this “security tokens” pitch from Andy Snyder. I hope it will at least distract you from the breathless “fed watch” countdown on CNBC.
Andy Snyder is promoting his Manward Novus product, which is basically a “you get it it all for a lifetime” purchase of all of the newsletters published by Manward Press (for $4,975 up front, plus an annual $149 “maintenance fee”), and the sales pitch comes in the form of a pretty long spiel that he calls The Alternative Wealth Summit.
The sales pitch runs through the various publications they offer at Manward, but the real bait is a new recommendation that Snyder is putting out for some kind of investment in the token space.
Here’s how that shows up in the headline:
“For Under $5, You Can Own a Piece of a Completely New Type of Investment…
“100% Outside the Stock and Crypto Markets.
“‘A Once-in-a-Generation Opportunity’ – The Wall Street Journal”
And here’s how they describe it on the order form:
“The Next Big Trade: A New Way to Grow Wealth”
“This is Andy’s latest token recommendation… a way to play the entire token market and get a quarterly distribution of 10% of the company’s gross revenues. You’ll get a full write-up of this opportunity – including the name and ticker symbol.”
So… what the heck is he talking about?
We’ll save you the ordeal of having to sit through the entire presentation, but let’s just grab a little excerpt of the part where he talks about this latest “completely new type of investment”…
“A new fractional ownership opportunity is emerging in technologies, art, real estate and more.
“But this time, we’re seeing the next generation in fractional ownership through digital tokens….
“… both tokens and cryptocurrencies are built on the technology called blockchain.
“But they’re very different.
“Cryptocurrencies are digital currencies you can use to make or receive payments.
“The best-known example is Bitcoin, which is a ...