“Industry Perspectives” 2Q 2018

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Download our latest "Industry Perspectives"

 

Read our view on the economy and key drivers of change in the global equity markets.

Date Published:
July 2018

Pages:
3

OVERVIEW:
Despite vast publicity in the media, many people don’t fully understand exactly what Bitcoin is in nontechnical terms. Many investors also question whether Bitcoin is riding a speculative wave that could soon collapse. We believe the price appreciation of Bitcoin is a temporary situation driven by pure speculation. If trading volume shrinks materially, the price of Bitcoin could drop to near zero.

In this latest Industry Perspectives, we discuss:

  • Bitcoin has made many headlines in the past year without a full
    understanding of the potential downfalls of the cryptocurrency.
  • There’s a “near zero” chance of Bitcoin overtaking the U.S. dollar as the world’s dominant currency.
  • We believe there are far more negatives than positives to Bitcoin and consider it a speculative bubble.

None of the Buffalo Funds invests in Bitcoin or any other cryptocurencies. As of 3/31/18 Visa was held by the Buffalo Dividend Focus Fund (2.60%), Growth Fund (2.08%), and Large Cap Fund (2.88%); no Buffalo Funds held Paypal.

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We get to know the companies we invest in and learn how they run their business.

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We identify Top-Down broad, secular growth trends and search for companies from the Bottom-Up.

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