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Wait, isn't this the guy with the whole shpeel about having skin in the game? And, didn't he also sell most of his BTC in February? If so, then I guess he would
by jude- 5y ago
Wait, isn't this the guy with the whole shpeel about having skin in the game? And, didn't he also sell most of his BTC in February? If so, then I guess he would want us to just ignore him.
- foobiter 5y agohow is he wrong?
- deleted 5y ago[deleted]
- klyrs 5y agoIs this like saying that only current drug users can advocate for cessation, and not those who have quit?
- jude- 5y agoWhat's the financial-investor-equivalent of a drug user? Someone who can't help but eat their assets?
- arcticbull 5y agoSomeone constantly chasing the next pump and dump - a crypto investor, or a penny stock gambler?
- deleted 5y ago[deleted]
- offby37years 5y agoYou’re missing the point of SITG. It would be hypocritical of him to be vocally bearish BTC while holding. Given he has (apparently) relieved himself of his BTC, Taleb is consistent. Don’t give me investment advice, show me your portfolio.
- mohanmcgeek 5y agoClearly you don't understand what SITG is. He's not _deciding_ for you. He's merely expressing his opinion on something. For this to be a SITG question, he'll have to take a decision on your behalf but one that he's insulated from.
- jude- 5y agoHe is no longer exposed to BTC, and thus no longer assumes any risk from the advice he gives on it. Like, if he wanted me to pay attention, he'd be shorting BTC right now.
- mohanmcgeek 5y agoShorting Bitcoin, even theoretically, is a bad idea. He doesn't short it because he understands convexity. This is an arbitrary "asset" and can therefore go as high as it wants. If he shorts it, the risk that he'll get squeezed out is high.
- jude- 5y agoWell, I guess he also understands me not giving a sh*t about his opinions if he's not going to put his money where his mouth is. I hope he's not managing someone else's BTC wealth.
- mohanmcgeek 5y agoI hope you're not managing anybody else's wealth because you don't seem to understand that not taking a position on something is a valid position He's not exposing you to a risk that he himself is not taking.. shorting is a different move altogether, one that he's not asking you to make. How's this hard for you to understand?
- jude- 5y ago> I hope you're not managing anybody else's wealth because you don't seem to understand that not taking a position on something is a valid position Not if they want me to give them the time of day. No skin in the game? No shits given for their opinion. > He's not exposing you to a risk that he himself is not taking.. shorting is a different move altogether, one that he's not asking you to make. How's this hard for you to understand? He is exposing people who listen to him to risks he's not taking. Given his relative popularity, that could very well translate into a lot of risk taken (which he could also be taking a position on). Doesn't it strike you as odd that he doesn't ever disclose his portfolio?
- ummonk 5y ago"And, didn't he also sell most of his BTC in February?" - that sounds like he put skin in the game by selling off most of his BTC when he concluded that it hadn't become a functional cryptocurrency? Though I would note that these tweets make no statement about whether speculating on crypto is a good idea - they merely state that it failed as a currency.
- jude- 5y agoIf he really believes BTC has failed, he'd be shorting it.