Your Clients Need Crypto

…high-fee financial advisor Ric Edelman explains why your clients need crypto exposure – it’s the first new asset class since oil 150 years ago.

I first encountered Ric decades ago when he was one of Oprah’s “financial advisors” on her daytime TV show.

Even If You Hate Crypto, Use It Anyway, Ric Edelman Says
https://www.fa-mag.com/news/even-if-you-hate-crypto–use-it-…

Edelman took a poll of the conference session audience and found that about half of the advisors personally own digital assets, but very few recommend them to clients, and few felt confident explaining what bitcoin or blockchain is. “That is pretty typical of the industry,” he said.

Other financial gurus who have badmouthed crypto – Warren Buffett, Jamie Dimon, Bill Gates – are wrong or hypocritical, Edelman said.

The more someone knows about crypto assets, the more wrong they can be, “because crypto violates all the financial rules they were ever taught. The more information you have about traditional investing, the harder it is to wrap your head around crypto,” he said.

Ric may have a point. People laughed about this Internet thingy when it first came out, too.

intercst

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…high-fee financial advisor Ric Edelman explains why your clients need crypto exposure – it’s the first new asset class since oil 150 years ago.

Did he forget about Beanie Babies?

AW

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Early on I figured out that I did not need to own Crypto because if it turns out to be revolutionary then the the stock of the companies that I own in index funds will benefit from crypto “somehow” making financial transactions more efficient.

When are people going to get sick of volatility?

Never.

Just give me some ordinary meat and potatoes investing.

When are people going to get sick of volatility?

fwiw, the rerun TV channels have recently been infected with adverts touting investments in gold.

Steve

"When are people going to get sick of volatility?

fwiw, the rerun TV channels have recently been infected with adverts touting investments in gold.

Steve "


What better investment can there be than an investment that governments across the
globe can “ban” selling from select countries?

https://www.washingtonpost.com/world/2022/06/26/biden-g7-sum…

“the Group of Seven nations on Sunday announced a ban on new imports of Russian gold”

Howie52
Gold prices are going to be a tad “volatile” for the foreseeable future.
Surprise!

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The Russians put about $19 b worth of gold into the marketplace every year.

Gold wont see an upside based on this. JMO

The gold still exists. Gold stores in Russia will be maintained. Or the Chinese will buy the gold.

fwiw, the rerun TV channels have recently been infected with adverts touting investments in gold.

Let’s see, Gold can be held in your hand, locked in a safety deposit box or buried under a tree in your back yard.

Crypto is none of those things.

So who wants Crypto?

Dave,

Gold can go down in value as the dollar appreciates. Keep in mind the FED is retiring debt to reduce the money supply.

Crypto has heard the screams of a bottom. Cryptos, really BTC and Eth, can rally from here.

Who would want crypto? Younger investors who are not adverse to volatility will strongly consider owning some. It does have value.