i was in my bosses office one day in the earlyish 2000s givin him shit about (among other things) the employee-owned companys finances and lacka financial transparency
he finally got fed up with me he tossed me a portfolio and said 'heres the company financial report for fucks sake'
i took one look and busted out laughin hysterically cause the cover said 'prepared by arthur andersen co'
he threw me outta his office
youre a smart feller and im sure youll remember why that was funny and how it ties into this thread
You know what it is is older cats dont wanna take a risk because crypto is a big risk. But you're not gonna find any other investment where you could potentially make 30k from 1k. Theres no other opportunity like that. Sure u may lose 1k. But its just 1k. Fuck it. You could make a gazillion off it.
Or maybr you're being a fool and could have made millions of dollars several times. People act like you have to keep your money in crypto forever. You can also sell it when it goes up.
Bought Ethereum few months ago at 1600 3 weeks ago sold it at 4200 last month. Bought more again at 1700 its back at 2500 today. I dont see any way im gonna turn 30k into 1k. Because I will get out before it goes under what I bought it for.
If that happens to you you're a fool and you cant read the cycles. Its predictable. Yoy pump and dump at the same time as everyone else. You can see the whales buying and selling because its all public. When the billionaires start selling you sell. When they buy you buy. Every transaction is public you see the addresses and how much they buy. When several whales start buying billions you buy and you will see it go on a 2 week bull run like its on now.
The entire history of investment shows that no one has ever been able to accurately read the cycles... you may get lucky for a while... and then you miss, and miss again.
The other big item to avoid... Financial Advisers who primarily get paid on commissions from selling you financial services and on commissions on your trades.
Been there, done that.
Someone always earns decent money.... and its usually not the investor. In fact, I never lost money so fast in my life.
While I may accept someone who has occasional products they sell that they get commissions; its hourly fee only or a % of my earnings only financial advisors now.
I also research them and ask up front for me to show me their personal financial records since they started financial advising and what their personal portfolio is. The ones who are just above broke will not share (as it shows that they actually have no idea how to make $ with investments), the ones who can show that they have built a solid performing personal portfolio are more than willing to share; assuming you have a decent amount of $ to invest with them.
Note that many of these will show you that they goofed up in their early years and wised up at some point (and will tell you the lessons they learned) - so their personal wealth may only have been increasing for only part of their career. I tend to chose these people as they personally know the pain of youthful financial mistakes.
Whys old ppl all against crypto
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i was in my bosses office one day in the earlyish 2000s givin him shit about (among other things) the employee-owned companys finances and lacka financial transparency
he finally got fed up with me he tossed me a portfolio and said 'heres the company financial report for fucks sake'
i took one look and busted out laughin hysterically cause the cover said 'prepared by arthur andersen co'
he threw me outta his office
youre a smart feller and im sure youll remember why that was funny and how it ties into this thread
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olderdude-xx
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You know what it is is older cats dont wanna take a risk because crypto is a big risk. But you're not gonna find any other investment where you could potentially make 30k from 1k. Theres no other opportunity like that. Sure u may lose 1k. But its just 1k. Fuck it. You could make a gazillion off it.
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olderdude-xx
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I'll wait until you have 1K remaining from a 30K investment to reassess its investment value.
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Or maybr you're being a fool and could have made millions of dollars several times. People act like you have to keep your money in crypto forever. You can also sell it when it goes up.
Bought Ethereum few months ago at 1600 3 weeks ago sold it at 4200 last month. Bought more again at 1700 its back at 2500 today. I dont see any way im gonna turn 30k into 1k. Because I will get out before it goes under what I bought it for.
If that happens to you you're a fool and you cant read the cycles. Its predictable. Yoy pump and dump at the same time as everyone else. You can see the whales buying and selling because its all public. When the billionaires start selling you sell. When they buy you buy. Every transaction is public you see the addresses and how much they buy. When several whales start buying billions you buy and you will see it go on a 2 week bull run like its on now.
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olderdude-xx
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The entire history of investment shows that no one has ever been able to accurately read the cycles... you may get lucky for a while... and then you miss, and miss again.
Please study some history...
I do indeed remember....
The other big item to avoid... Financial Advisers who primarily get paid on commissions from selling you financial services and on commissions on your trades.
Been there, done that.
Someone always earns decent money.... and its usually not the investor. In fact, I never lost money so fast in my life.
While I may accept someone who has occasional products they sell that they get commissions; its hourly fee only or a % of my earnings only financial advisors now.
I also research them and ask up front for me to show me their personal financial records since they started financial advising and what their personal portfolio is. The ones who are just above broke will not share (as it shows that they actually have no idea how to make $ with investments), the ones who can show that they have built a solid performing personal portfolio are more than willing to share; assuming you have a decent amount of $ to invest with them.
Note that many of these will show you that they goofed up in their early years and wised up at some point (and will tell you the lessons they learned) - so their personal wealth may only have been increasing for only part of their career. I tend to chose these people as they personally know the pain of youthful financial mistakes.