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You're frustrated by the fact that he invested in an asset that 4-5x'd his money in 10 months? Ok...
by JSavageOne 6y ago
You're frustrated by the fact that he invested in an asset that 4-5x'd his money in 10 months? Ok...
- Majromax 6y agoYes, because it did so for the wrong reason. "I thought that Apple stock was overvalued, so to short it I bought a lottery ticket" is nonsense, even if the lottery ticket wins. Portfolio construction isn't about picking the biggest winner. It's about finding the optimal rate of return for a given amount of risk tolerance. "I think we're due for hyperinflation" is a statement of risk aversion; bitcoin is not usually the risk-averse answer because it's correlated with so many other risky things as well.
- JSavageOne 6y agoI'm sure he's dying to hear your analysis as to why he should've invested in another asset that would've made him less money.