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RE: "Every portfolio should have a 4% allocation to Bitcoin (at least)"
Going to send him a mail saying my portfolio is only cryptos xD Owning stocks is harder than owning cryptos, a lot of boreucratic BS with stocks, while with cryptos there is none of the BS, no taxes in my country! Nothing!
I might diversify in the future, but only after the market crashes hard (which should happen in the next 5 years), probably student loans defaulting
When they say portfolio, they are not just talking stocks. They are talking any investment you might hold. Stocks, mutual funds, gold/precious metals, commodities, bonds, annuities all might make up an investing portfolio...
Pretty much the same case here. Currently, cryptocurrencies are the only type of investments I'm involved in. I agree, traditional stocks involve too much bureaucracy, and generally need to act through some broker, who may probably not be working in my best interests.
Not investing in stocks (though usually done through a fund as opposed to stock picking) has been a huge mistake by people for the last 100 years. That may change going forward, but they still make a lot of sense in retirement portfolios.