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RE: Warren Buffett Not the Dumbest Person on Wall Street

in #cryptocurrency7 years ago

You know what the problem here is? Because he's a famous investor, people keep asking his opinion on crypto and blockchain. He admits he does not know much about it but people won't be OK with that, they want him to make some statement. Then he goes on to say it's probably a bubble and he gets criticized for it.

Buffet invests in value industries, not growth industries. Value industries are boring, proven industries. Blockchain and crypto just aren't his thing so no wonder he's not interested!

Also, it's pretty funny how people criticize him for making a statement about crypto while admitting not knowing much about it. Do you have any idea how many people in this space are investing in coins they don't know anything about? Many people don't even read white papers before buying a coin. They could learn from Buffet and only invest in things they understand. In the short-run that might cost them, but in the long-run it's the smart thing to do.