Reply to post: Re: Real Gains

Kill the blockchain! It'll make you fitter in the long run, honest

Voyna i Mor Silver badge

Re: Real Gains

Though I'm not invested in his firm I think Warren Buffett is absolutely right. If you can't send a team round to see what's going on, inspect the books, look at the factory, talk to the customers and suppliers...don't invest in it.

Obviously people get rich out of scams. Some of them get very rich. But they are mostly the ones that started it. Some of the initial marks taken along for the ride make a sizeable profit if they get out in time - you need people enthusiastically hyping your scam after all. But I also remember Taleb's advice; the best way to get rich if you want to trade rather than invest is to find something with a very big downside indeed and keep betting on the downside happening. You will lose money until you suddenly make a lot. With things like Bitcoin you can't really short them, which is one of the things that makes them suspect - the market can't tell you what it thinks.

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