Wall Street guru Nick Colas, former chief market analyst of brokerage firm Convergex, is back to analyzing Bitcoin price movements by launching a daily newsletter to be called DataTrek Research in early October 2017. Colas is the first Wall Street analyst to cover Bitcoin prices and even predicted one of its first price leaps to $1,000, follow marijuana store sales, and analyze the economy using the price of a bacon cheeseburger.
According to Colas, his newsletter will deliver the same innovative thinking for which his Morning Market Briefing was famous for and will be written with his writing partner Jessica Rabe.
"It's obviously going to be a lot of capital markets discussion. We're also going to be touching very heavily on the data revolution and innovation disruption generally."
What will the newsletter focus on?
According to Colas, they will focus on the macro trends in the stock markets rather than in individual stocks. They will particularly tackle how new technologies, including Bitcoin, that are influencing the markets.
He explained that their decision to focus on the impacts of new technologies to the markets is based on his discussions with both sell-side and buy-side analysts.
"As I talk to investors, as I talk to sell-side and buy-side (analysts), I'm always astounded there isn't more focus on all the innovation and disruption on the technology covering from all sectors. There's a lot of work to be done to understand how this broad-based technological disruption coming out of Silicon Valley really affects the entire economy, the capitalist ecosystem. I don't think there's anybody putting those dots together in a creative way."
Colas and Rabe were both former employees at New York-based brokerage firm Convergex, which provides brokerage and trading services to hedge funds, broker-dealers, trusts and exchanges. The partners have since then decided to resign after after the Cowen Group acquired the company and are now looking to focus on what they do best - analyze Bitcoin price movements and how it impacts the whole economy.