Birthday in Croatia

23 August, 2024 | Travel guides | 48 seen

I'm thrilled to announce that our latest travel movie, "Birthday in Croatia," is now live! In just 3 minutes, you'll join us on a whirlwind adventure filled with unforgettable moments and stunning scenery.

Our journey begins in Tbilisi, where we embark on an exciting trip that first takes us to Riga. From there, we make a quick detour to Courland, where we get hands-on and install a window—an unexpected but satisfying stop on our way. The fun continues as we throw a hotpool party, surrounded by friends, laughter, and good vibes.

The next morning, we fuel up with a delicious chanterelle omelet for breakfast, setting the tone for the day ahead. Then, it's back to Riga, where we hop on Carpatair and head to our ultimate destination: Split, Croatia.

But the adventure doesn't end there. We spend four short yet unforgettable days in the charming town of Omiš, nestled along the stunning Dalmatian coast. The breathtaking views, the historic streets, and the warm Croatian hospitality made this birthday celebration one for the books.

So, sit back, hit play, and join us on this incredible journey. Don't forget to give a thumbs up and enjoy the video!

Split Airport

21 August, 2024 | Airports | 33 seen

Split Saint Jerome Airport, also known as Split Airport, is the international airport serving the city of Split, Croatia. It is located 19 km (12 mi) from Split, on the west side of Kaštela Bay, in the town of Kaštela, and extending into the adjacent town of Trogir. It is named after Saint Jerome, the patron saint of Split-Dalmatia County.

At the start of August 2024, I found myself on a Carpatair flight from Riga to Split, ready to celebrate my 39th birthday in the picturesque town of Omiš. This trip marked my first experience traveling to and from Split Airport, and I was pleasantly surprised by the ease and convenience of navigating through this gateway to the Dalmatian coast.

Split Airport (Resnik Airport) is the third busiest in Croatia, serving as a major entry point for tourists heading to the Dalmatian region. The airport itself is relatively small, but it offers all the essential amenities, including duty-free shops, restaurants, and car rental services. It’s located about 24 kilometers west of Split, making it a convenient starting point for anyone looking to explore the region.

Upon landing at Split Airport, I hired private taxi driver straight…

July 2024 Stock Portfolio Update ($9,726)

12 August, 2024 | Stock Portfolio | 46 seen

At the end of July 2024, the total value of our stock portfolio was USD 9,726 (€9,006 ). What is about 6% increase or USD 553 gain, if compared to the previous month. 

Half of the July we spent in Latvia, working with our frame house and having our kiddos 6th birthday, while the rest of the month we spent in Georgia, enjoying Summer, having few road trips with German friends to Dedoplis Tskaro and Latvian friend to Birtvisi Canyon. 

Our Latvian Summer house is coming along nicely, most of the interior works are finished, there are left few windows to be installed and some other interior works.

Now back to the stock portfolio

The increase in the stock portfolio comes from the market appreciation itself and additionally from options trades, while small part of the growth can be attributed to the dividends. 

One of my short-term goals is to grow our portfolio to USD 10,000. With USD 274 to go, I believe this target could be crashed already this August, especially if we recover just form a few options trades, but you never know, market can take a steep correction.

The main longer-term goal for our portfolio is to…

India Movie (Golden Triangle & GOA)

2 August, 2024 | Travel guides | 38 seen

Back at the end of December 2023, during Renée's school break, our family embarked on an unforgettable journey to India. Our adventure began with a flight from Tbilisi to New Delhi, the bustling capital of India. New Delhi welcomed us with its rich history and vibrant culture, offering a perfect introduction to our travels.

In New Delhi, we explored a myriad of attractions, each narrating a tale from a different era. The Red Fort, a stunning relic of Mughal architecture, and the India Gate, a war memorial, were among the highlights.

From New Delhi, our journey took us to Agra, home to the iconic Taj Mahal. The sheer beauty of this monument, bathed in the soft glow of the morning sun, left us in awe. Built by Emperor Shah Jahan in memory of his beloved wife Mumtaz Mahal, the Taj Mahal is a testament to eternal love and architectural brilliance. Walking through its pristine gardens and admiring the intricate marble work was a surreal experience.

Next, we headed to Jaipur, famously known as the Pink City. The city’s rosy hue and regal charm captivated us. We visited the City Palace, which…

Real Estate vs. Bitcoin: A Comparative Analysis of Leveraged Investments

30 July, 2024 | Real Estate | 40 seen

Recently, I had an interesting conversation with a business associate about leveraging investments in real estate and Bitcoin. 

He offered me an opportunity to purchase an apartment in Tbilisi using a bank loan with a 10-year term, requiring a 30% down payment. This essentially creates a leverage ratio of 3x. The idea is to rent out the apartment, which would cover the mortgage payments, a common and popular belief among real estate investors. While I'm not advocating against this approach, it got me thinking about how it compares to leveraging investments in Bitcoin, where the leverage can be significantly higher.

As the founder of a successful crypto hedge fund, Terramatris, I often explore various investment strategies. This particular offer in Tbilisi, a market I am quite familiar with, prompted me to compare real estate with Bitcoin investments. Although in the crypto market, leverage can go up to 10x, for a fair comparison, I will apply the same 3x leverage to both real estate and Bitcoin investments. Let's break down the numbers and see which investment strategy might be more profitable under similar conditions.

…

Frame House in Latvia: Outdoor Patio, Inner Walls, and More

29 July, 2024 | Frame House | 111 seen

As June came to an end, our family embarked on a journey from Tbilisi to Latvia, skipping Renee's school year for the last week and focus on our frame house project. Here's a glimpse into our busy but rewarding time working on the house.

We left Tbilisi with excitement and anticipation, knowing that a lot of work awaited us in Latvia. Skipping a week of Renee's school was a calculated decision, as we wanted to make the most of this opportunity to push our frame house project closer to completion.

Our first major task was finishing the outdoor patio. This space is crucial for us as it extends our living area and provides a beautiful spot to relax and enjoy the surrounding nature. We installed decking, ensuring a sturdy and aesthetically pleasing foundation. 

Inside the house, we focused on building a few inner walls. These walls are essential for creating defined living spaces and ensuring privacy. It was a meticulous process, involving precise measurements and careful construction. 

The sense of accomplishment we felt after seeing the walls take shape was immense.

Installing the WC was another…

Wine with Friends Night in Tbilisi: A Perfect Blend of Networking and Tasting

25 July, 2024 | Living in Georgia | 160 seen

Yesterday, I had the pleasure of attending a delightful wine-tasting event organized by my American friend, Colin. The evening was set in the charming ambiance of a wine gallery located at Irakli Abashidze 64. The event brought together a vibrant mix of expatriates from various industries, predominantly startups and founders, creating an excellent opportunity for networking and socializing.

The wine gallery on Irakli Abashidze 64 is an exquisite venue that exudes both elegance and warmth. Its cozy, inviting atmosphere set the perfect backdrop for a night dedicated to the appreciation of fine wines and engaging conversations. The gallery's carefully curated selection of wines offered a delightful journey through Georgia's rich viticultural heritage.

As we arrived, I was greeted by a familiar and friendly crowd of expats, some of whom I had the pleasure of knowing from previous encounters. The diversity of industries represented was impressive, with attendees hailing from tech startups, software developers, crypto traders, hedge funds, professionals from translation industry and various other entrepreneurial ventures. This mix of professionals created an enriching…

Average Monthly Salary in Georgia in 2024

24 July, 2024 | Living in Georgia | 995 seen

In the first quarter of 2024, the average nominal monthly salary in Georgia was 1,943.4 GEL. This figure includes income tax, meaning the net salary (take-home pay) is 20% less.

Compared to the same period last year, there was an increase of 226.8 GEL, or 13.2%. However, this is a decrease of 101 GEL compared to the fourth quarter of the previous year.

There remains a significant gender pay gap across all sectors. The average nominal salary for men is 2,343.2 GEL, while for women it is 1,540.0 GEL.

The highest average salaries, over 4,000 GEL, are found in the financial and insurance activities, as well as information and communication sectors.

The highest average salary is in Tbilisi, at 2,305 GEL, while the lowest is in the Racha Lechkhumi/Kvemo Svaneti region, at only 996.8 GEL.

Experts note that instead of the average salary, the median salary is a more telling indicator, but the statistics department does not regularly calculate this figure.

As an expat living in Georgia, I like following developments on how the average wage in Georgia has evolved over the years. Last time I checked was back in 2016, when the average…

June 2024 Stock Portfolio Update ($9,173)

19 July, 2024 | Stock Portfolio | 59 seen

At the end of June 2024, the total value of our stock portfolio was USD 9,173 (EUR 8,431). What is a small, but increase of EUR 226, if compared to the previous month

Most of the June we spent in Georgia, enjoying Summer, taking part in trail runs, while at the end of June we traveled to Latvia to work with our frame house, did some good job, installing outdoor patio, wiring, and even installing drywall.

The increase in the stock portfolio comes from the market appreciation itself and additionally from options trades, while small part of the growth can be attributed to  the dividends. 

One of my short-term goals is to grow our portfolio to USD 10,000. With USD 827 to go, I believe this target is achievable in the next few months through a combination of selling options and stock appreciation.

The main longer-term goal for our portfolio is to grow it to 100 fully covered Morgan Stanley (MS) shares, supported by an additional 100 British Petroleum (BP) shares. This strategy will enable us to sell covered calls on these shares while also benefiting from dividend payments. 

Year to Date (YTD) our stock portfolio was up +…

The Great Latvia Summer 2024: From Riga to Nīca

18 July, 2024 | Travel guides | 63 seen

As the warmth of summer envelops the Baltic region, there’s no better way to experience its charm than by embarking on a journey through the scenic landscapes of Latvia. This year, we invite you to join us on an unforgettable adventure in our latest film, "The Great Latvia Summer 2024." From the bustling streets of Riga to the tranquil shores of Nīca, and the historic town of Valka, this summer promises to be filled with exploration, local flavors, and hands-on projects.

We kicked off our adventure by skipping a week from the British International School in Tbilisi to travel to Latvia on June 21. We stayed until July 14, making memories that will last a lifetime. During our stay, we celebrated our kiddo’s 6th birthday at our charming frame house, adding a special touch to our summer journey.

Our journey begins in Riga, the capital city known for its stunning Art Nouveau architecture and vibrant cultural scene. Whether you're wandering through the historic Old Town, enjoying the lively atmosphere of the Central Market, or taking a leisurely stroll along the Daugava River, Riga offers a perfect blend of the old and new. Don’t miss…

Exploring the Real Estate Market in Tbilisi in 2024: Bitcoin as a Buying Power

17 July, 2024 | Real Estate | 32 seen

As the CEO and Founder of TerraMatris Crypto Hedge Fund, I've often contemplated the potential of cryptocurrencies, especially Bitcoin, in various investment avenues. Recently, I received a proposal involving the use of leverage to purchase an apartment in Tbilisi using our hedge fund as collateral. This intriguing idea prompted me to explore the current real estate market in Tbilisi, particularly in terms of how many Bitcoins one would need to buy an apartment in 2024.

Tbilisi, the capital of Georgia, has seen a robust real estate market over the past decade. The city offers a range of options, from high-end apartments in central districts like Vake and Saburtalo to more affordable options in outer neighborhoods like Digomi.

Vake-Saburtalo is known for its upscale living conditions, modern infrastructure, and convenient amenities. As of summer 2024, turnkey apartments in these districts are priced between $130,000 to $200,000. The average price per square meter in these areas is approximately $2,000. These figures highlight the premium nature of real estate in central Tbilisi, catering to those seeking a…

Spot Gold (Tokenized) vs. Buying Gold Jewelry in Tbilisi

27 June, 2024 | Living in Georgia | 49 seen

Today, I spent a delightful afternoon with my 5-year-old daughter at a shopping mall in Tbilisi. Our mission was to find the perfect gold necklace, bracelet, or earrings as birthday gift to my partner. After browsing through various options, we ended up purchasing a beautiful gold ring. As a seasoned investor in tokenized gold (PAXG), I found it interesting to compare the prices of real gold versus gold in jewelry.

When it comes to gold jewelry, it's essential to understand the differences in gold purity and how it affects pricing. For example, 14K gold contains 58.5% pure gold, while 18K gold has 75% pure gold. Another term I encountered today was "Russian gold," which is related to 585 gold or pink gold, known for its unique hue.

The gold ring I bought today cost GEL 802 (USD 284) and contained 1.91 grams of gold. With the current gold price at $74.12 per gram, the gold content in the ring is valued at $141.56. This means I paid about twice the intrinsic value of the gold itself. Surprisingly, this isn't as high as some might expect when buying jewelry, which can sometimes carry markups as high as 10 times the gold's market value.

Gold Jewelry: An…

Jal Mahal / Water Palace near Jaipur

20 June, 2024 | Tourism objects | 124 seen

Jal Mahal (meaning "Water Palace") is a palace in the middle of the Man Sagar Lake in Jaipur city, the capital of the state of Rajasthan, India. The palace was originally constructed around 1699; the building and the lake around it were later renovated and enlarged in the early 18th century by Maharaja Jai Singh II of Amber.

I had a brief chance to visit and see this place from a distance during our about 3 week trip to India at the end of 2023. We arrived here in the afternoon from the Amber fort. 

The Jal Mahal Palace is an architectural showcase of the Rajput style of architecture (common in Rajasthan) on a grand scale. 

The building has a picturesque view of Man Sagar Lake, but owing to its seclusion from land is equally the focus of a viewpoint from the Man Sagar Dam on the eastern side of the lake in front of the backdrop of the surrounding Nahargarh ("tiger-abode") hills. The palace, built with local sandstone, is a three-storied building, with the third floor only existing on the eastern side of the palace. The eastern side is not visible from the road side public promenade, which is the Western side of the palace. 

The additional…

My Experience with Fundraising on LinkedIn: Part 1

13 June, 2024 | Doing Business | 32 seen

As the CEO and Founder of Terramatris, a crypto hedge fund, I've always been keen on leveraging social media to share updates and engage with potential investors. Over the past few months, I've been actively posting updates about Terramatris on LinkedIn. 

To my pleasant surprise, my followership has started to grow, reaching a little more than 200 followers. With this growing audience, I decided it was time to reach out to my connections and explore potential fundraising opportunities for our fund.

I crafted a simple yet compelling letter with the help of ChatGPT. In this letter, I highlighted our impressive performance, boasting a 540% Year-To-Date (YTD) growth. The message was clear and straightforward: Is there a way we could grow together?

Over the last two weeks, I embarked on a series of Google Meet calls with some of my LinkedIn acquaintances. My goal was twofold: to learn more about their businesses and to raise funds for our quantum fund. The experience was nothing short of fascinating. I interacted with a diverse group of individuals, including French inventors, Spanish anarchists, Russian capitalists, and even Indian quant traders.…

Exploring Real Estate Prices in Riga Compared to Gold: A 2007 vs. 2023 Analysis

11 June, 2024 | Real Estate | 30 seen

A few days ago, I stumbled upon an article or perhaps a meme on Facebook that suggested the same amount of gold from 100 years ago could buy you real estate today. Intrigued by this claim, I decided to explore further and compare real estate prices in my native Riga to spot gold prices. My findings, particularly when comparing 2007 with 2023, are quite interesting.

Let's start with some basic data:

In October 2023, the average price of standard apartments in Riga was 852 euros per square meter. This price is 47% lower than on July 1, 2007, when the average price of an unrenovated standard apartment reached an all-time high of 1620 euros per square meter.

To delve deeper, I conducted some simple calculations to compare the cost of purchasing a 50m² apartment in Riga back in 2007 with the price of spot gold at that time. On July 1, 2007, the spot gold price was 501 euros per ounce.

To buy a 50m² apartment in 2007, we would need approximately 81,000 euros (50m² * 1620 euros/m²). With 81,000 euros, one could purchase around 161.68 ounces of spot gold (81,000 euros / 501 euros per ounce).

Following the analogy mentioned earlier, if the theory holds true…