The Cincinnati, Ohio-based private equity firm Gaffney-Thompson Capital headed by Jacob T. Gaffney, 18, and Conlan Thompson, 24, has eliminated a number of investments toward the stock market and cryptocurrencies.
In recent time, the United States and other nations have experienced a significant negative impact economically. Due to the COVID-19 pandemic and yet another unpredictable time in the country, Gaffney has announced a “derailment of investments” in not only the stock market and crypto, but also in areas of focus such as real estate and e-commerce.
In mid-December of 2022, Chief Operating Officer Conlan Thompson suggested an elimination in placing company funds into real estate and endorsed Gaffney’s proposal of instead focusing on acquiring cash-flow assets in order to maintain profitability.
Gaffney stated, “Heading into 2023 will be interesting, especially seeing what the future economic challenges are, but we will continue to make smart acquisitions, holding liquid asset potential. We’re not finished yet, and there is still more to accomplish. As of now, we’re a strong team. …A total of 5 employees is allowed on payroll.”