Quote:
Originally Posted by dbarton62
Crypto/blockchain is tanking tight now
Mr Buffett says “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful“
I am in large and long on a blockchain stock. Ticker KASH on the TSXV. I continue to buy when others are selling.
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You shouldn’t use the term “crypto/blockchain” as they are not interchangeable terms.
Buffett buys companies that produce something, so being greedy when others are fearful only applies to non speculative, asset producing companies in Buffett’s world.
He’s called Bitcoin Rat Poison squared and his partner, Charlie Munger, originally called it rat poison.
The technology underneath Bitcoin is another story, but the companies leading that are doing a lot of other things, like IBM.
Bitcoin is worthless artificial gold and even real gold is a terrible investment. Pure greater fool speculation.