Quote:
Originally Posted by zamler
I thought about this for a bit. Since you knew for sure in 2021 what the S&P would do, how much did you invest? There is zero chance you didn't, because you knew. You'd be a complete fool not to. Also how did you know BTC at ~$70K CAD was the peak?
And you're assuming the $580K magically exists.
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I didn't know, that's the point. So I just kept my normal investments and added to them regularly like I always do. But I'm not bragging about my ability to beat the market, disparaging investing in certain asset classes, and saying people should learn from me.
Someone holding the right DWAC options over the last few days could have turned $10K into about $1M, but does that mean they have any real insight to offer or that their strategy is repeatable or useful? No, they just made the right decision at the right time. And a bunch of people who made similar bets over the last couple of years would have lost their money.
When people get a great return off of something, they tend to view it as a sort of reverse sunk cost fallacy. Because they are essentially guaranteed a profit regardless of what the price does, they get complacent. But that's not the way to view an investment. In order to not sell something, you have to look at it as something you'd buy today if you just had the cash. I guess if you're confident that Bitcoin will outperform every other asset class going forward, then fair enough. But personally I make sure I'm diversified enough to protect myself in the event that I'm wrong.