RE: Steemleo Show #16 | The Real Reason Why Warren Buffett Hates Crypto
I think his also not aware of his biases, yes his investment principles are sound but in a hard money system, he wouldn't be able to pull off what he did and yes he would be rich but not as rich as he is now. If you look at this portfolio lots of what his invested in is propped up by money printing and an almost fed put on equities.
To say that gold and other bitcoin are different from what his doing is ignorant in my opinion. Yes I agree at this point gold and bitcoin you are making money because of the greater fool principle with someone willing to pay more but that doesn't exclude what his doing.
The low-interest money from the fed, pension fund capital is the greater fools making him rich, its all one and the same if you take a step back. I feel the number value of these peoples portfolios have inflated their egos and they feel they're geniuses.
If you were first or the best at playing a rigged game sure you'll win and win big
Lets cut out the money printing, let him actively use his capital to create production, like the rest of us and we see how quickly that portfolio gets eaten up
I agree on some level. I think the income-generation point is fundamental to what Buffett and similar value-investors look for. They will never touch an asset that doesn't have a long track record of producing positive cash flow. Things like Bitcoin and Gold are useless to them because all you can do is watch it (unless, of course, you are aware of how to leverage them to generate cash flow like locking up ETH in CDPs).
This industry is young and it will take a while for the "titans" of industry to jump in. Like you said, they play a rigged game and they will look for a way to rig this game before even dipping their toes in.
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