A Curmudgeon on Cryptocurrency
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In mid-April I picked my 15-year-old daughter Hannah and her friend Sarah up from school and took them to Barnes & Noble. Sarah found out that I “do stocks” for a living and immediately asked me about crypto. She wondered what cryptocurrency she should buy and if she should open a Robinhood account.
I’ll tell you about the advice I gave her in a bit. But a few days later I got three calls in one day from my wife’s side of the family – from my sister-in-law (a pharmacist) and my wife’s cousins (both are barbers). They were all asking me about crypto. I told them, you don’t ask my advice on which number to put your chips on when you play roulette in Vegas; cryptocurrencies fall into the same category.
No matter what asset class you are discussing, it feels a bit “toppy” when people far removed from investing start asking you for advice about it, all at once.
I feel like an old curmudgeon writing this. I know “I don’t get it.” Crypto lovers look at me as if I am defending silent movies and treating “talkies” as unwelcome, short-term imposters. Curmudgeon I am.