Despite blockchain’s enormous potential, it is far from clear who would win, or how they would win, thus making micro-cap blockchain investing quite risky. This podcast (5:07) argues against succumbing to “hot” new areas lacking a clear path to profitability, while noting that profitability and conservative investing, issuance and accounting practices have proven reliable signals of long-term outperformance. Learn more about your ad choices. Visit megaphone.fm/adchoices