Cryptocurrencies

[wachtwoord]

On 11/23/2024 at 1:42 PM, SharperDingaan said:

Trading gains need to go into something else of value, with a low correlation to BTC. 

 

Trading? I thought this was a value investing forum. I certsinly dont have an edge trading anything. I buy things I consider undervalued by the market and hold them. Indefinitely if needed.

 

Only reasons to sell are if its no longer undervalued, consumption and balancing the portfolio (trading returns for a (perceived) reduction in risk).

 

On 11/24/2024 at 4:01 PM, james22 said:

All my friends use financial advisors.

 

This horniness for "experts" (self-proclaimed or society proclaimed) is what's wrong with society/people. Take responsibility and do your own thing. None of the experts are going to be as alligned with you as you, half of them are below average by definition and most things are easy enough to figure out if you you do it yourself and keep it simple for yourself.

 

I always told people that allocating 100% to VT or VWRL beats 80% of the financial advisers if not more (and picking an above average advisor is as hard as learning to solve the problem yourself) so anyone can do it. Just make the hurdles low enough for yourself to clear.

 

Many examples of this exist in societ up to ridiculous levels. Eg if everyone thought for themselves barely anyone would have taken the covid shots falsely marketed as vaccines. Yet in reality most did, especially those higher educated (but not the PhDs funnily enough).

 

People are simply scared as hell to be responsible for their own choices. When things go south they want to be able to say "I followed the experts" and receive social support rather than blame or ridicule for having dared made a decision themselves.

 

Only those of us who care more about making correct choices than what others think of them have a shot at making such calls correctly. And few will praise you for it, calling you lucky. Be your own disciple.

[TwoCitiesCapital]

15 minutes ago, wachtwoord said:

 

I always told people that allocating 100% to VT or VWRL beats 80% of the financial advisers if not more (and picking an above average advisor is as hard as learning to solve the problem yourself) so anyone can do it. Just make the hurdles low enough for yourself to clear.

 

 

The value of the "experts" largely helping people stick to this plan. And to know when enough is enough. 

 

I view financial advisors as more behavioral therapists - you're not hiring them to pick the best stocks anymore. You're hiring them to talk you off the ledge in March 2020 and prevent you from mortgaging your home to go all in on PLTR in the summer of 2021. 

Edited 1 hour ago by TwoCitiesCapital

[james22]

28 minutes ago, TwoCitiesCapital said:

 

The value of the "experts" largely helping people stick to this plan. And to know when enough is enough. 

 

I view financial advisors as more behavioral therapists - you're not hiring them to pick the best stocks anymore. You're hiring them to talk you off the ledge in March 2020 and prevent you from mortgaging your home to go all in on PLTR in the summer of 2021. 

 

Yeah, and I've come around a little bit.

 

1% seems inexpensive after seeing a couple friends talked out of what would have been really serious mistakes.

 

(My advice meant nothing because I don't wear a suit [anymore] and they've seen me drunk.)

 

I don't really need my personal trainer either, but . . .

 

[wachtwoord]

1 hour ago, james22 said:

 

Yeah, and I've come around a little bit.

 

1% seems inexpensive after seeing a couple friends talked out of what would have been really serious mistakes.

 

(My advice meant nothing because I don't wear a suit [anymore] and they've seen me drunk.)

 

I don't really need my personal trainer either, but . . .

 

 

Lol you have a personal trainer? Just do it yourself ...

 

If discipline is thd problem: get discipline. You need it for everything in life.