Why crypto cheerleaders are BAD, BAD, BAD news for crypto investors
Something really distressing to me is the number of people following crypto cheerleaders …
An unbalanced view is a sure sign of one of two things …
- They have no expertise - well-meaning maybe and caught up in all the hype
- They know that this is the way to take advantage and they don’t care about you, ONLY about making money
- Or both
There are three keys to making money in this market …
- Investing should be as exciting as watching paint dry. If it is exciting, it is entertainment … not serious investing.
- Follow the smart money
- Plan for the worst and hope for the best - Trees don’t grow to the sky. As much as we wish they would
I know that is not exciting. But again … if it is exciting, I promise you are doing it wrong. And you will be the one who loses in the end. As Barry Ritholtz said, that is what markets do. That is their job.