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Author: Alex Woodard

Arbitraging Inefficient Markets: Building a Trading Strategy on Correlations

By now everyone is aware just how correlated the Cryptoasset markets are. To borrow from an article by The Block, “if you own one cryptocurrency, you own them all.” This has become increasingly obvious during the bear market where all cryptoassets falling in unison. This correlation can be seen in the matrix bellow from Delphi Digital’s […]

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Aragon Analysis

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Alex Woodard

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Note: This report was part of the research analyst internship application process for Arca Funds. I am happy to announce that I accepted an offer from the team, and am incredibly excited to work with them this summer. This should not be used as investment advice and represents no one’s thoughts but my own. Spreadsheets: Note: […]

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Some Thoughts on Investing in Grin

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Alex Woodard

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Note: This piece is not meant to be used as investment advice, it is simply meant to start the discussion on crypto based derivatives and other ways to gain exposure to promising crypto projects.   1/15/19 marked the launch of Grin, a highly anticipated implementation of the Mimblewimble protocol. The whitepaper for the Mimblewimble protocol […]

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Crypto Valuations Canon

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Alex Woodard

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Coming from a traditional finance background, one of the things I miss the most is a clear way to value certain assets. To value equities, you can use a Discounted Cash Flow model, or for options, you can use the Black Scholes model. And though the validity of the assumptions you make for these models can be up […]

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Market Outlook Fundamentals vs Price

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Alex Woodard

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Analyzing and investing in the Crypto market offers its own unique set of challenges very different from that of traditional markets. Bitcoin’s price has fallen from a high of $20,089.00 on 12/17/17 to its current price of $3,297.18 as of December 7th, 2018, a decline of 82% from the all-time high. This extreme volatility and […]

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A New way to Find Discount Rates in Crypto Models

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Alex Woodard

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If you have been following along with crypto valuation models, you would know that they are very new and based on a few key assumptions. (If you haven’t been following along start with the article “Cryptoasset Valuations” by Chris Burniske). One of the most apparent assumptions is finding a discount rate for any given crypto asset. […]

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