Investing Discipline

[Fernando]

I'm thinking of investing in a racing greyhound.

Good for you to diversify.

 

[Bobby Bucks]

Good to diversify but El Salvador all into Bitcoin is reckless.

The amount they own is a little under $400 million in US dollars at an average cost of $50,000. Their position is much stronger than some of the Wall Street firms holding it.

 

[Fernando]

The amount they own is a little under $400 million in US dollars at an average cost of $50,000. Their position is much stronger than some of the Wall Street firms holding it.

El Salvador and Wall Street expect US to bail them out when they gamble for higher profits.

 

[Mark K]

I'm thinking of investing in a racing greyhound.

Or..."How to Turn a Million Dollars into a Thousand Dollars Overnight". I've read that book.

 

[Charles West]

I’m far from an expert, but here is my take. Speculative risk assets and tech stocks have also been down since Bitcoin is a “risk on” asset. There is uncertainty about the fed and if there will be a rate cut,I think December 10th is the next meeting. There was a lot of profit taking and there have been outflows from the Bitcoin ETFs. The drop below 100,000 and now below 90,000 were both psychological barriers, but then I again I was celebrating when it went above 80,000 last year.

FWIW I have not sold any of my “hard” bitcoin which is what’s in my hard wallets, but I began selling a lot of my Bitcoin ETFs and Bitcoin mining stock which is in my IRA. I sold about half of it, wish I had sold all of it, even so I’m up. I’m in it for the long game, Bitcoin is for my offspring. If it drops to mid 70s I will jump back in. It's interesting because the certified gurus who are on X and YouTube have opinions and predictions all over the place.

I think the trend is our friend. The tech isn't going away any time soon or governments and central banks wouldn't be interesting in the technogy.

 

[Charles West]

How would you feel if all government Social Security funds put into bitcoin?

Better.

 

[gregb]

At 71, I am looking at a 2 or 3-year horizon before I dip back in for some income supplementation or profit taking. I've got a Fidelity US Tech ETF and I should probably stick with ETFs given my knowledge base. Was thinking another third in an energy ETF and splitting another third into smaller holdings of indexes.

I am 74, have accounts with Fidelity and Vanguard. Five years ago I was considering going very conservative on investments. Had a hoe down discussion with both. They advised that since my dad lived until he was 96 and my mother was still alive, I should take more aggressive investments than I was considering. With savings, SSA and Medicare plus appraisal income, it made sense to let Fidelity and Vanguard go wild. Maybe I should take some aside and play some poker with bitcoin.

 

[Bobby Bucks]

Bitcoin down to $82,000, ouch! Bear market for sure.

 

[jay trotta]

The price of bitcoin fell over 3% on Friday to $82,980, hitting a session low of $81,618 so far and pushing deeper into April lows. On Thursday, the No. 1 cryptocurrency hit an intraday low of $86,010, the lowest level since April 21, when it hit $84,633, according to Dow Jones Market Data.

Bitcoin is now more than 31% below its all-time high of $126,272, reached Oct. 6. and off 11% for the year.

Losses were seen across the asset class on Friday, with Ethereum down 6%.

The market has been under pressure from sellers since October, which some have blamed on profit-taking following that high.

 

[DTB]

Momentum is one of the very few proven alpha generators over history. I have 3 of the 4 grandkids in SPMO.

Momentum with S&P stocks.