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Ep. 007: The Worst Piece of Advice in Cryptocurrency Investing

by | Mar 4, 2018

Today’s topic comes from a question that Tim Ferriss often asks guests on his podcast. The question is … what is the worst piece of advice you hear in your profession or area of expertise? I think the worst investment advice being given today is “Never invest in a cryptocurrency that you haven’t thoroughly researched.” Really? Yes. Really. Listen to hear me out…

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“In my opinion [trying to forecast the future] is one of the biggest wastes of time, yet one that is nearly universal in our industry. Pretty much 80-90% of the investment processes that I come across revolve around forecasting. Yet there isn’t a scrap of evidence to suggest that we can actually see the future at all.”.

— James MOntier

GMO Asset Management

mutual fund returns show why know more is worst investment advice

Analysts ability to predict show why know more is worst investment advice

SOURCE: Surprise! Analysts Can’t Predict The Future

Economists ability to predict show why know more is worst investment advice

SOURCE: Surprise! Analysts Can’t Predict The Future

In this episode, I cover:

✓ What is worst investment advice in cryptocurrency?

✓ Assumes increasing knowledge will lead to better outcomes, which is not true

✓ Academic studies prove it

✓ The actual results of those who know the most (i.e. mutual fund managers, analysts and economists) prove it

✓ Why the advice persists if it is wrong

✓ What to do instead


⇒ SANE CRYPTO Quickstart: Secrets of A Portfolio Manager Applied To Cryptocurrency Investing

The Tim Ferriss Show

⇒ Surprise! Analysts Can’t Predict The Future, Henry Blodget, Business Insider

⇒ The SANE CRYPTO Podcast: Interview with Nassim Taleb on Fooled by Randomness

The Green Lumber Fallacy

Anti-Fragile – Nassim Taleb

The Fortune Sellers – William Sherden

Paul Slovic

Daniel Kahneman

Philip Tetlock

⇒ The Psy-Fi Blog: The Big List of Behavioral Biases

Adam Robinson

Adam Robinson on worst investing advice for Tribe of Mentors

Snider Investment Method


Email: askkim@sanecrypto.com
Twitter: @sanecrypto https://twitter.com/sanecrypto


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