Ric Edelman now recommends 10-40% crypto

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP. I posted because my parents use him. He’s a long standing advisor in the DC area. I also thought this was crazy advice!

If they're listening to him, get power of attorney and FAST. Not a reputable or credible guy.

I think he sold his company years ago. He used to do a radio show and I remember him talking about.

The other crazy thing he used to say is, college will soon be free to all. ( I have a 20K tuition bill due next week.)

[Anonymous]

A few mystery Bitcoin whales who bought way back in 2014 are getting out. I think the growth phase is done. The fund Fees suck. Dealing with the taxes suck if bought on exchanges. Anyone pushing crypto seems like a scammer at the moment.

[Anonymous]

Anonymous wrote:Never heard of him.

+1 But go ahead and spend your life’s’ savings following his advice OP

[Anonymous]

Anonymous wrote:

Anonymous wrote:Never heard of him.

+1 But go ahead and spend your life’s’ savings following his advice OP

OP - where exactly did I say I would follow this advice? He’s a well known advisor in the DC area and has written a lot of books. My parents hired his firm based on his radio ads.

[Anonymous]

wow...that's a lot. I would do 10 percent tops and I am a crypto proponent.

[Anonymous]

From pretty much any timeframe since Bitcoin was invented it has outperformed every other asset class. We have a decent sized portfolio - top 5% net worth - and have 25% in Bitcoin. Wish it had been more. To all the people with the dismissive comments - do you realize Bitcoin is larger than all but a couple companies at this point? It is a $2.3 trillion asset that is heavily invested in by asset managers such as BlackRock. This is a serious asset. We continue to dollar-cost average, as there is significant wind in the sails.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Never heard of him.

+1 But go ahead and spend your life’s’ savings following his advice OP

OP - where exactly did I say I would follow this advice? He’s a well known advisor in the DC area and has written a lot of books. My parents hired his firm based on his radio ads.

Good for you. He can maybe give your parents a discount based on the PR you’re doing for him on DCUM. I’ve never heard of him and I’ve worked in finance for decades.

[Anonymous]

Anonymous wrote:Flim-flam artist who is overinvested in crypto advises you to do so as well, so he can get out at a profit.

classic pump and dump. I would not listen to anyone who says go 40% crypto

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Never heard of him.

+1 But go ahead and spend your life’s’ savings following his advice OP

OP - where exactly did I say I would follow this advice? He’s a well known advisor in the DC area and has written a lot of books. My parents hired his firm based on his radio ads.

Then why are you blasting his thoughts on a finance forum as if it's something newsworthy. It's a no name guy, and you're promoting his bad advice.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Never heard of him.

+1 But go ahead and spend your life’s’ savings following his advice OP

OP - where exactly did I say I would follow this advice? He’s a well known advisor in the DC area and has written a lot of books. My parents hired his firm based on his radio ads.

Then why are you blasting his thoughts on a finance forum as if it's something newsworthy. It's a no name guy, and you're promoting his bad advice.

Not OP.. Are you suggesting that we shouldn't be asking questions that, in your eyes, have no merit? FO dude!

I'm not a customer of his, but have come across his yappity-yap radio show several times on the radio. He used to be one of the largest financial advisers in the DC area, managing 100+ billions. If you don't know who he is, you must not be up to speed on the local financial advisor landscape or a new transplant to this area.

[Anonymous]

He recommends 10 to 40%, not 40%. He published a white paper last month explaining why. Perhaps read it before showing ignorance by repeating tired cliches about tulips and money laundering. Bitcoin is a serious asset. Ray Dalio also recommends holding a significant percentage of net worth as a hedge against inflation. And Larry Fink. These are some of the most successful investors in history. It is not a scam. Yes, a lot of - even most - cryptocurrencies are scams, much like penny stocks. But Bitcoin is a completely different beast - more like Exxon or JPM or Apple in terms of value, but decentralized and with capped issuance. Learn the difference.

[Anonymous]

Anonymous wrote:From pretty much any timeframe since Bitcoin was invented it has outperformed every other asset class. We have a decent sized portfolio - top 5% net worth - and have 25% in Bitcoin. Wish it had been more. To all the people with the dismissive comments - do you realize Bitcoin is larger than all but a couple companies at this point? It is a $2.3 trillion asset that is heavily invested in by asset managers such as BlackRock. This is a serious asset. We continue to dollar-cost average, as there is significant wind in the sails.

You are confusing valuation with value.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Never heard of him.

+1 But go ahead and spend your life’s’ savings following his advice OP

OP - where exactly did I say I would follow this advice? He’s a well known advisor in the DC area and has written a lot of books. My parents hired his firm based on his radio ads.

Radio ads??? Like talk radio with Rush?

[Anonymous]

Anonymous wrote:From pretty much any timeframe since Bitcoin was invented it has outperformed every other asset class. We have a decent sized portfolio - top 5% net worth - and have 25% in Bitcoin. Wish it had been more. To all the people with the dismissive comments - do you realize Bitcoin is larger than all but a couple companies at this point? It is a $2.3 trillion asset that is heavily invested in by asset managers such as BlackRock. This is a serious asset. We continue to dollar-cost average, as there is significant wind in the sails.

For the top 5%, a net worth of $1.17 million to $2.7 million secures your spot

[Anonymous]

Anonymous wrote:

Anonymous wrote:From pretty much any timeframe since Bitcoin was invented it has outperformed every other asset class. We have a decent sized portfolio - top 5% net worth - and have 25% in Bitcoin. Wish it had been more. To all the people with the dismissive comments - do you realize Bitcoin is larger than all but a couple companies at this point? It is a $2.3 trillion asset that is heavily invested in by asset managers such as BlackRock. This is a serious asset. We continue to dollar-cost average, as there is significant wind in the sails.

You are confusing valuation with value.

I don't think so. A currency that cannot be devalued has enormous value, as its success demonstrates.