[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Adam Livingston [@AdamBLiv](/creator/twitter/AdamBLiv) on x 47.3K followers Created: 2025-07-25 18:10:08 UTC It is absolutely a risk if you are a short term investor who doesn't understand that they are paying to be a cog in the machine of a very volatile flywheel. If you bought SWC at a 15x NAV and sold at a 5x, that's the danger of trading this hyper-volatile vehicles. My conceptualization of risk tells me that it is less risky if you have conviction that a certain percentage of the investor base is smart enough that they understand the beast must be fed in order to get an outsized return over a long enough time horizon. Seeing Strategy be the best performing equity in the world and then seeing Metaplanet be the best performing equity in the world and now SWC being the most successful IPO of all time in the history of the UK tells me a large enough portion of the investor base is smart enough to take part in the reflexivity. Otherwise, we wouldn't have seen these returns. XX engagements  **Related Topics** [nav](/topic/nav) [investment](/topic/investment) [Post Link](https://x.com/AdamBLiv/status/1948807996131172836)
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Adam Livingston @AdamBLiv on x 47.3K followers
Created: 2025-07-25 18:10:08 UTC
It is absolutely a risk if you are a short term investor who doesn't understand that they are paying to be a cog in the machine of a very volatile flywheel. If you bought SWC at a 15x NAV and sold at a 5x, that's the danger of trading this hyper-volatile vehicles.
My conceptualization of risk tells me that it is less risky if you have conviction that a certain percentage of the investor base is smart enough that they understand the beast must be fed in order to get an outsized return over a long enough time horizon.
Seeing Strategy be the best performing equity in the world and then seeing Metaplanet be the best performing equity in the world and now SWC being the most successful IPO of all time in the history of the UK tells me a large enough portion of the investor base is smart enough to take part in the reflexivity.
Otherwise, we wouldn't have seen these returns.
XX engagements
Related Topics nav investment