Preamble on value hunting
Have been thinking about what the Buffet / Li Lu school of value investing look like in crypto: assets w/ enough downside protection, but sufficient upside rerating catalysts for sufficient r/r on your money.
In the investable universe of crypto volatility, this type of value investing is likely impossible unless you go gem hunting in the <50mm micro caps… but at those levels, management has usually exit scammed and will never take you to valhalla…