Warren Buffet On Crypto: Is He Scared?

So, since Crypto started making waves and I started reading a little bit more of Tony Robbins again, I’m getting really scared about why there’s such a huge divide between the Gen B’s and the newer generations.

After 2008, who trusts the banks? I mean the value on people’s homes was reduced by 80%.  On top of that, 401K’s (also known to be in the stock markets), were completely wiped out.  Could you imagine being 60-years-old and seeing your 401K go right down the drain? Did anyone claim reliability? Absolutely not.

So, this is why I continue to have my doubts because there isn’t any straightforward information in terms of saving long-term.  It’s scary.  Thailand’s last crash was back in 97/98, resulting in quite a few suicides across Eastern and Southeast Asia.

How can we protect ourselves from crashes? I mean I ask myself the most basic question, “if 401k’s get wiped clean every 8-12 years, what’s the point?”

Honestly, would love to hear someone’s opinion.

And this is what brings me to Cryptocurrency.  Sure, it’s a massive fluctuation, but with blockchain on the verge of changing the way we view money, it seems like regular currency will be a thing of the past by the late century.

You know what I really want to point out….how come is it that the “over 60’s” keep so much information from one another?  Here’s a question, show me a blog or a book that Warren Buffet, Ray Dalio or any of those Wallstreet fools (I say that lightly, too) wrote and talked about how to invest.

I’m waiting….

See, that’s the problem right there.  Am I blaming the WWII, Korean War, Vietnam War eras for this? Well, kinda…in a sense that Americans, and the world in general, had a completely different mindset on life back in those days.  Do you think they want to change now? HELL NO!!! This is why racism has been perpetuated for so long because the Gen B’s rub off on the Gen Z….so the only way an anglo kid from Norman, Oklahoma won’t be a racist is if he moves to a culturally diverse city.

That’s a FACT.

But anyways…let’s break this down.

“If you buy something like a farm, an apartment house, or an interest in a business… You can do that on a private basis… And it’s a perfectly satisfactory investment,” he said. “You look at the investment itself to deliver the return to you. Now, if you buy something like bitcoin or some cryptocurrency, you don’t really have anything that has produced anything. You’re just hoping the next guy pays more.” – Warren Buffet

Ok, so how do the markets return on us without being penalized? How about the hidden fees that these “trust funds” inadvertently put in so that financial managers can dig deep into the “potential savings” of the others?

“In terms of cryptocurrencies, generally, I can almost say with certainty that they will come to a bad ending,” Buffet said. He went on to say he’d bet on “every one of the cryptocurrencies” falling over the next five years. “But, I would never short a dime’s worth,” he added. – Warren Buffet

Like the DOTCOM crash? Ok, some people would blame banks or housing.

How about 2008?  Oh, let’s blame the banks.

Great depression? Let’s blame the banks.

How come Warren doesn’t sit down with the world and teach them out to invest? This is what really drives me up the wall.

“There’s a real bubble in that sort of thing,” – Warren Buffet

Like…ummm, 2000-2008? That bubble? The bubble that bursted?

See, just like most over 50’s, this is a many that points fingers, critcizes, and gives no definitive follow-ups.

He should perhaps rephrase himself and say, “ok, guys.  Crypto is this………and this is what’s going to happen.  However, I believe if you put your money here in these indexes, it will accumulate this much over a 10-year period.”

The thing is….he doesn’t do that.

And that’s why I can NEVER trust anyone from that era.  There’s just too many hidden things and beating around the bush.

 

 

Wealth Goals For 2018

“Less time; more money!”

That was my motto heading into this year.  After all the events that had taken place in the month of October and November, I was almost sure that I could’ve made 120$ an in two hours with a private course teaching business law.  That 120$ would’ve also been nine hours of work at my present place of work.

Now that opportunity is now somewhere in the ocean, but the fact and breadcrumb is I thought I would have a great opportunity to make superior money here in Bangkok.  Interview, move, I was PRIMED for excellence, until that interviewer never came back around.

Damnit.  Did I make the right move? Did I make a smart financial decision moving to Bangkok, even though there are no job opportunities anymore? I still believe I did.  One section of Bangkok was driving me insane – the same section of Bangkok which a lady walked passed me, bringing her purse closer to her.  Yeah…happens on a routine basis in that “slummy” area. It was enough.  The constant ignorance that I saw everyday from low-class mindsets was just too much.  Sure, I paid a 800$ deposit along with the first months rent to get out of there because I knew and continue to know that the universe loves action.  I sleep with such an amazing conscious every night knowing I’m not in “that” area anymore where women grip their belongings as if I were going to snatch it away from them.

Let’s get back on track.

That was a decision of 2017.  Wealth right now is no longer an area of concern, but it’s something I need to seriously come to grip with because if I was to move out of Thailand, I’ll definitely need to be smart with my money going forward.

Podcast

Money Talk – Keeping It Slow & Easy

As I said in my last blog, it’s time to track one habit a week.  This is the beginning, so don’t get bent out-of-shape about it.  Pick a habit that has the greatest control over you, and once you start reaping the rewards of the Compound Effect, you’ll want to introduce this to your friends a family, too.

Let’s say you want to lose weight.  Your goals is to track everything you put in your mouth from dawn until dusk.  Pay attention to your sodium intakes.  Pay attention to how many sweets you consume.  For example, I’m a Gummy Bear Type-Of-Guy – meaning I LOVE to eat my gummy bears.  However, I believe this is going to have a very bad long-term effect, so I decided to track how often I eat them and it’s practically everyday.  Two days ago I said NO! However, yesterday I treated myself to a few bags that was about 30g’s in total, which is well under the 75g the American Heart Association requires not to go over.

If you want to talk about beverages, track those sugary drinks and glasses of wine.  Anything you consume in general MUST be tracked.

Again, writing things down sounds simple, but only when you start it.  That’s why I’m asking that you commit to choosing a category and a start date, now.

I am going to start tracking _____________________ on _____________________. day/month/year

Each day you’ll start with the date at the top of a fresh page, and start keeping track.

What’s going to happen after the ensuing week will shock you.  You’re going to realize how much money, calories and minutes have been escaping you.  Track it for three weeks.  Yes, three weeks.  Why? Some psychologists have said that a habit doesn’t become a HABIT until after three weeks.  If you guys can do this for 21 days, and make it a habit to carry around the small notebook in your back pocket, purse, or in your backpack so you can log in everything, you’ll see a massive difference.

You’ll find yourself asking, “do I really need that back of gummy bears?” This question I asked myself last night, and without any sugar cravings, I walked straight to the entrance of my condo and went right up the elevator.  Day 3 is here!

Podcast