The following newsletter is sponsored by Grass Clippings. We highly recommend drinking a highly acidic beverage before reading. *As always, none of the below information has been fact checked or confirmed in anyway.
/ˈēo͞o/ /ˈdôɡē/ - An old English saying
"Ew Doggies" is a phrase used to express excitement and/or curiosity. The phrase was popularized in Europe, but quickly made its way to America in the early 1900's. The phrase proliferated on college campuses, in ice fishing communities and with your everyday party goers. Those that use the phrase are typically well thought after.
Used in a sentence:
"Hey Tommy, I heard tonight is dollar beers and half off cheese sticks at the local sizzler," said Ricky.
"Eww doggies," Tommy replied while licking his lips.
With that behind us, welcome to the Grass Clippings Monthly.
In this issue:
Billy's Monthly Insights: *things Billy observed in March
- It Pays to be a Golfer... These Days
- Who Needs a QB?
- The Infection of the 3 Point Shot
- A Crying Shame
Updates from the Shop
- Playin' for the Shop
- New Pacifico Foamy
Investing 101 *a Hail Mary approach
- Ethereum - THE MERGe
1. It Pays to be a Golfer...... These Days
If we sat down over a beer and discussed the best golfers of all time (pre Tiger Woods), our list would go something like this: Jack Nicklaus, Arnold Palmer, Ben Hogan, Gary Player, Sam Snead, and so on. Not until recently did I ever think to look up how much money some of the greats made in relation to today's players. What I found is somewhat disturbing. Lets dig into the numbers.
Jack Nicklaus - $5,750,000
Arnold Palmer - $1,860,000
Ben Hogan - $332,517
Gary Player - $1,830,000
Sam Snead - $620,126
Again, the totals above are career earnings. When you look at the money being made today by golfers it makes you want to projectile vomit. Hell, Smylie Kaufman has made more money in his career than Arnold Palmer. If you don't know the Smylie Kaufman story, well holy cow look it up. For perspective on how far the money has come, let's look at the payouts from The Players Championship.
THE PLAYERS CHAMPIONSHIP TOP 5 PAYOUTS
1st - Cameron Smith - $3,600,000
2nd - Anirban Lahiri - $2,180,000
3rd - Paul Casey - $1,380,000
4th - Kevin Kisner - $980,000
5th - Keegan Bradley - $820,000
Third place finisher, Paul Casey, made more money in one weekend than Sam Snead and Ben Hogan made combined in their entire careers. Folks, teach your kids to play golf. It's lucrative.
2. Who Needs a QB?
Have ya'll tried to keep up with the Quarterback market in the NFL? Well the month of March produced some of the juiciest storylines and outcomes. I've tried my best to stay on top of things and I'm starting to feel a lot like Charlie from Always Sunny in Philadelphia. The best part is the biggest story right now is going a bit under reported. Let's take a look.
The Quarterback whirlwind all started when Kyler Murray decided to go full PreMadonna on the Cardinals when he scrubbed his instagram of all pictures relating to the organization. He claimed they used him as the scapegoat for their postseason struggles. Now the Cardinals turned around and extended their adolescent coach and renegade GM for no reason, so I can see where Kyler would get frustrated. With that being said, Kyler handled the situation worse than Will Smith taking jokes at the Oscars. All seems to be patched up between the two parties, but it was the first domino to fall in a cascading liquidation event.
- Russel Wilson traded to the Denver Broncos
- Tom Brady comes out of retirement
- Carson Wentz is traded the Washington Commanders
- Deshaun Watson convinces massage therapists to drop legal battle
- Mitch Tribusky signs with Steelers
- Deshaun Watson is traded to the Cleveland Browns
- Matt Ryan is traded to the Indianapolis Colts
- Jamies Winston resigns with the New OrleansSaints
- Baker Mayfield is out looking for employment
This has hands down been the craziest offseason for the quarterback position in the history of the NFL. You really have to feel bad for Baker Mayfield in all of this. The former number 1 draft pick had his team side with a guy who has literally been sued by every massage therapist in the state of Texas. In short Baker did not get a happy ending. BUT amongst all of this there is one story that is not getting the attention it deserves. Tom Brady will be traded to the Miami Dolphins before the start of the season.
3. The Infection of the 3 Point Shot
Humans tend to overdo things. It's who we are. You introduce a new way of doing things, a new gadget, or a new idea and we humans act like a pack of wild dogs. We can't help ourselves. The same thing can be said for the status and future of basketball at all levels. The 3 pointer has now infiltrated all aspects of the sport. The 3 point line was adopted by the NBA in 1979 -1980 season. Suns coach at the time said, "I'm not going to set up plays for guys to bomb from 23 feet. I think that's very boring basketball." Well John, it turned out to be quite the hit. The 3 point shot has seen better adoption than the internet. Let's dig into the facts. 5 years after the 3 point line was implemented teams were only averaging 2.4 attempts per game. Fast track to this season and teams are averaging 35.2 attempts per game. That's what we like to call parabolic price discovery. Attempts have increased every year since inception. Hell, Steph Curry averages 11.72 attempts per game this year. That's more than 5x the attempts taken in the 1979-1980 by a single player. To understand the surge in activity you must understand what's going on at the foundation: youth basketball. I don't want to date myself, but when I grew up around the game I learned how to shuffle my feet on defense, box out, and hit the elbow jumper. Well apparently all of that is out the window. We're in a new day and age. See the video below. A 7th grade basketball game will make you question everything you know about basketball.
4. A Crying Shame
I'll apologize in advance if you are excited for the Final four. Full disclosure - I am not. I went to the championship game a few years back held at the Arizona Cardinals stadium in Glendale. Gonzaga was playing North Carolina and being a Gonzaga fan I was absolutely gassed up. I had never been to a final four game and in my head I had envisioned a rocking student section, battling bands, and fans standing the whole game. Well I was wrong. Way wrong. I should have gone to the book reading with my girlfriend instead. My friend and I sat in the loge level and needed binoculars to see the court. When Gonzaga got out to an early lead I was standing and shouting some words of encouragement. I was told by surrounding fans to please sit down and be quiet. At that moment I knew college basketball had been compromised. Wouldn't it make sense to play the championship game at Cameron Indoor Stadium where 7,000 fans sitting on top of each eachother went bananas for the final stamp on the entire season? People will say ohh, but there is too much money involved and they need to make it a spectacle. First off, its college athletics. No one is making money except sponsors and the oligarchs at the NCAA. Second, ticket prices for a championship game held at Cameron Indoor Stadium would be astronomical. A friend once told me scarcity creates value. Instead we are stuck watching a basketball game in a hollow spaceship. I Billy Dobson will be boycotting this years final four. Last note: take Kansas +190 to win it all.
Playin' For The Shop
When we opened the shop over a year ago, we knew the flag in the ground could stand for something. Watching golfers walk into our store to buy clothes just before a tournament the light bulb went off. Playin' for the shop. To us golf has always been a disorganized, lonely sport. If you win your local club championship, odds are noone really cares. You go home with a trophy to your wife/husband and kids and thats about it. No newspaper clippings. No Main Street parades. Just a pat on the back and a reminder the dishes still need to be done. We thought what if golfers had something to play for outside themselves? What if they had somewhere to hang their trophies. They'd probably perform a whole lot better and hell it'd be a hole lot more fun. Well it's called playin' for the shop. With that in mind, the Grass Clippings team drove an RV to Palm Springs to watch the opening round of fleet member Sarah Schmelzel at the LPGA Chevron Championship (Major Championship). As of this writing, Sarah is (-5) and tied for 3rd place. A friend of mine once told me, it helps when you travel in packs.
We love traveling by way of a motorhome. So if you have a big tourney coming up and want some support let us know. We might just make the trip.
Well folks, things got very interesting for crypto in the month of March. Market sentiment was very low coming off 3 months of downward action and the looming first interest rate hike. The Fed decided to raise interest rates by 25 basis points in which the market shrugged off and reversed the trend. Everyone seems to be bullish once again. In the crypto world, conversation around the idea of crypto eventually becoming unccorleated with traditional markets picked up steam. Then Do Kwon the founder of Terra (Luna) blew the minds of all crypto participants. He began the first step of helping crypto markets decouple from traditional markets. Naval Ravikant called stable coins the true game changer of crypto. A stable coin is a coin that tracks the price of a traditional currency (typically the US dollar) which offers stability to crypto participants. Critics have claimed that these stable coin projects will eventually fail because there is no real value backing the coins. Well, Do Kwon went as far as creating the new gold standard. Terra has a US Dollar stable coin called UST and the Terra Foundation is going to use 10 Billion dollars worth of reserves to buy Bitcoin to back the UST stable coin. Folks, when someone says they are going to buy 10 Billion dollars worth of bitcoin that typically has a bullish effect. The Terra Foundation will be and has been buying in 125 million dollar increments until the full 10 Billion dollars is deployed. These purchases very well could be the bullish catalyst for the entire crypto market.
Message from Killer the CFO:
And just like that.....he's back ladies and gentlemen. March was good to Billy and he laid out an pretty solid portfolio of selections. It's obvious his intense research into crypto markets is starting to pay off. Total portfolio gains in March were 13%, which for the first time in 2022 outpaced the s&p 500. The winner this month was Billys investment in ETH which brought in a whopping 22% gain, but it wasn't all good news. Billys' FTM pick set the portfolio back a bit and brought in an -8% loss.
Looking forward into April, Billy's going all in on what worked in March. As they say, don't fix what's not broken. All $10k is being deployed on ETH. With the highly anticipated launch of the ETH merge, Billy is hoping to ride the wave and buy the news, sell the facts. Buckle up, this could get interesting.
Investment tracker doc can be accessed here.
1. Ethereum ($ETH) $10,000
I anticipate that the Terra (Luna) purchases will dominate the narrative going forward and the price of Bitcoin to appreciate. While this narrative is proliferated another major headline will go underreported. THE MERGE. The Ethereum foundation has been working vigorously to migrate the blockchain from Proof of Work to Proof of Stake. This migration brings about two major catalysts (1) being that the network will become environmentally friendly and (2) the ETH token will become deflationary. The merge is set to take place late June. Instutional money has been lining up and buying Ethereum in anticipation of the merge. No need to complicate this one. Ethereum will most likely appreciate in price the rest of the year. We're putting all $10k to work here.