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Similarly I’ve engaged with financial experts online. Conversation goes: Me: “but this is a giant bubble! None of this is intrinsically valuable! You’re buying
by randomsearch 5y ago
Similarly I’ve engaged with financial experts online. Conversation goes:
Me: “but this is a giant bubble! None of this is intrinsically valuable! You’re buying to sell! A huge crash will wipe you out!”
Them: “you must be new around here... there is always a bubble, the key is riding it as long as you can safely do so.”
I found this so enlightening. I wonder if economic cycles are a result of this thinking.
- vwcx 5y agoYes, but no one mentions the downside: that timing the exact bubble end, catching the proverbial falling knife without getting cut, is nearly impossible for the vast majority of bubble investors. The key would be to take your profit we’ll before the collapse, which you’ll notice is antithetical to the whole “HODL” and “never sell” mantra being spoonfed to the first-time meme stock/coin investors.