You're contacting media contact of this press release

Title: Real Monkeys Have Outperformed The Largest Asset Manager Worldwide by 7.54% in July

New York, United States, 8th Aug 2024 - A team of cryptocurrency enthusiasts has equipped monkeys in South Africa with a tablet that enables them to trade cryptocurrency. The monkeys began trading on June 26th, and by the end of July, they outperformed the largest asset manager worldwide by 7.54%.In January 2024, as the new year began, a group of crypto and finance enthusiasts discussed the book “A Random Walk Down Wall Street” by Princeton professor Burton Malkiel. Malkiel famously stated that “A blindfolded monkey throwing darts at a newspaper's financial pages could select a portfolio that would perform as well as one selected by experts.” Amused by this idea, the group jokingly considered creating a hedge fund managed by monkeys. What started as a joke evolved into a serious project.Further research revealed a simulation of this theory conducted by Affiliate Researchers and reported by Forbes in 2012. The data indicated that monkeys could outperform experts in 98% of cases—a finding so astonishing that the team decided to test it themselves.They traveled to South Africa and partnered with CROW (Center for Rehabilitation of Wildlife) to install a tablet in the monkeys' enclosure. The tablet has various bubbles on its screen, each representing a different cryptocurrency. When the monkeys tap a bubble, they place a long position on that cryptocurrency, which lasts approximately 4 hours. Trading is available for one hour a day, five days a week, with the monkeys receiving peanuts as rewards for their participation.The aim of the Finkey team is for the monkeys to outperform Wall Street. They compare the performance of the monkeys to the best-performing fund of the largest asset manager worldwide. In July, while “iShares and Blockchain Tech ETF” ($IBLC) declined by 4...

This press release is issued by King Newswire