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RE: HODLERs can be uninformed Morons. Do you understand you are NOT buying lottery tickets??
"You are probably a millenial and are just beginning to make some of your first investments. And you assume HODL is a great strategy that is guaranteed to win."
“Our favorite holding period is forever.” - Warren Buffett, richest investor in the world.
Not to disagree with you but if you are going to quote Buffett on that, then it appears you are in the wrong arena;
https://www.cnbc.com/2018/01/10/buffett-says-cyrptocurrencies-will-almost-certainly-end-badly.html
In that article he says he isn't shorting anything and admits: "Why in the world should I take a long or short position in something I don't know anything about." That's his other advice, to only invest in what you understand. It is his guy feeling that it will go bad but he doesn't trade on gut feelings. That's why he is the richest investor.
You do get my upvote for this, however.
He has been straying off what he knows in recent years. And is paying a price. Look at what has happened with Warren's jump into tech stocks with IBM. Very ugly. Sure, he recovered with Apple, but I think it was a lieutenant of BRK that got BRK into Apple.
Well then, by his own logic he should fail. I also have no idea why he is making any crypto predictions when he admits he knows nothing.
Anyway, S&P500 beats over 90% of managed funds so I just go with them. Index funds don't get emotional and make bad decisions.
Makes sense. I agree. Lets take Nasdaq as another example.
Do you think QQQ is a decent index ETF to invest in?
If QQQ is good, is TQQQ better?
TQQQ is a leveraged ETF and those make me uncomfortable. I like simple equity plays. QQQ gives you a nice stable-ish basket of stocks while TQQQ is more of a short term play, in my amateur opinion.
The leveraged ETFs are devils in disguise. All sorts of issues with backwardation and contango that mean the leveraged ETFs are not meant to be held long term.
They are short term only.
And are potential weapons of mass destruction - Warren would never touch a leveraged ETF
I'm not saying I like trading on SMA's but the SMA is a fact. You can argue how to interpret it but you can't argue that a moving average isn't real. I'm done with all of this talk of waves and triangles and cups. That's no more real than the constellations in the stars.
Look at Warren's behavior. He doesn't hold everything forever.
You obviously have to reevaluate your portfolio. However, top investors do that on the scale of decades, not days or weeks. I no longer believe Bitcoin can be on top in 10 years so I do not own any.
Agreed again. Innovation in BTC is too slow, and governance is so ffff'ed up that it will never be able to keep up. On top of that SHA2 will be cracked within 10 years, and that is the end of BTC as we currently know it.
Seems like close to a certainty that BTC either won't exist in 10 years, or it if still does it will be a minor novelty. Kinda like AOL.COM has been over the last few years.
Agreed. Not sure if it will be cracked but at the very least PoS and more energy efficient algorithms will start to take over. Also, I believe a zero-fee protocol will win.
He's saying that as a rich old man looking back at life, one who counts Elliott Waves on a yearly chart..
He's a romantic who won't live forever.
Though it's forever nice to be grandiose - but most folks, especially the young, feel they don't have the time ;)