Appreciate it!OldCannon wrote:My summary:PUCKER wrote:Alright - I'm late to the party....cliff notes?
(snipped for length)
I think that summarizes it.
There is risk with anything, even breathing these days!!
Hey, I'll give you my best stock tip ever - but you'd have to go into the way back time machine...nah, not worth all the drama it would create!
I'll tell you this though - whatever you invest in whatever form it is (traditional equities, crypto, etc), *only* invest what you can safely afford to do, unless you are young and expect to have a looooooong timeline to make that risk/loss back up.
An example: My Dad and I both invested in Apple, way back, pre-split, at $10/share. My Dad got out at $50 per share (pre-split), he made a TREMENDOUS profit at that (5x) - his time horizon is expected to be much shorter, that was all the risk he wanted to take, he invested more money in it than I did and he did really well. Had he stayed in it...well, WOW. I invested a much smaller amount ($2,000) as I did not have much to invest/lose. I really should've invested another zero (I could've but I was younger and that made me a little uncomfortable - but HAD i done that, I might be posting this from my yacht, in the Med!). Well, I've hung on to it, that little investment turned into 140x (as I've continually reinvested it). It got to the point where I needed to rebalance my portfolio as Apple was too much of a high percentage for me, so I've since done that. Granted I've had a lot of losers to "somewhat" balance that great investment out...so, all that said...would I invest in crypto? Maybe, but only with $5-10K, that's the most I'd be willing to lose, I personally would not do a high-stake investment in it.