Yes Buffet is a stock market legend, but he made his money decades ago in 50’s, 60’s, 70’s and 80’s. Since then he doesn’t work anymore he just enjoy profits made thanks to his company and his stocks. Already in 1990’s he admitted he doesn’t understand modern tech and have no idea what internet even is, that was around 30 years ago. Not investing in internet companies made him lose tens of billions of possible profit, but also them he told his famous words: “I don’t invest in things I don’t understand”. If he doesn’t understand internet why are use suprised he doesn’t understand crypto either.
Buffet is no crypto authority, he is stock authority. One doesn’t equal other. Im crypto he have just financial and investing knowledge, he have no modern tech or social media knowledge. Also he doesn’t menage Berkshire Hathaway anymore, he is 92 years old, do you really think he make all decisions? He barely understand what this company do in current times.
I think we should treat Buffet as we treat our grandpas. We should respect him for all things he did back in the day, enjoy his talks, but don’t follow his advices. If my grandpa tell me computers are unnecessary I smile, but ignore him. He is stuck in different era and I won’t change his mind, the same with Buffet, it doesn’t matter what he think about crypto, his opinion doesn’t matter anymore. Don’t let 92 year old guy dictate you what you should think. Buffet in our age ignored old investors, that’s why he made money.
Buffet is relict of different era of investing, he is classical investor, when he started he use books to buy stocks, not even phone, paper books. That’s how you invested in stocks back in the day, you went to comoany and asked for book to check if you want to invest. It went outdated in 1970’s and 1980’s with using of phones and computers (classic Hollywood depiction of Wallstreet, bunch of guys in the office talking on phones). Did Buffet ever update his ways? Nah, even few years ago he was walking to the companies and reading paper notes, when books were long gone and everyone used laptops to check stock prices at any possible place and time. In crypto everything is online, offline barely exist, so ask yourself if Buffet’s strategies can apply in any way for us. Answer seems obvious.
submitted by /u/Nuewim
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