Bitcoin touched a new high of $48,930 in Asian trade after MasterCard and US bank BNY Mellon moved to make it easier for people to use the cryptocurrency. The coin has gained over 60 per cent so far this year in a head-turning rally, but the Indian government is planning to ban it, including all other private cryptocurrencies.
In this edition of ‘Tweet Buster’, we scan the world of 280 characters to bring out the best of investing gems, money-making ideas and the do’s and don’ts of the stock market.
Bitcoin a failure?
At a time when the wind seems to be blowing in favour of Bitcoin, Nassim Nicholas Taleb, author of ‘The Black Swan’, said he has been getting rid of his Bitcoin as a currency is never supposed to be more volatile than what you buy and sell with it. “You can’t price goods in BTC. In that respect, it’s a failure (at least for now). It was taken over by Covid denying sociopaths w/the sophistication of amoebas.”
I’ve been getting rid of my BTC. Why? A currency is never supposed to be more volatile than what you buy & sell wit… https://t.co/huxIUegbtI
— Nassim Nicholas Taleb (@nntaleb) 1613150264000
BTC Volatility is not dropping with time/at higher price, exactly what you don’t don’t need. https://t.co/m5ZKUiuFia
— Nassim Nicholas Taleb (@nntaleb) 1613198842000
Is trading a sport?
Zerodha CEO Nithin Kamath compared trading in stock markets with playing a professional sport where only the fittest ones will survive. “Imagine waking up one day and saying I will compete in the Olympics tomorrow. Thinking that you will easily make a lot of money trading in quick time is as ludicrous an idea as that.”
And, trading is like playing a professional sport, it is the survival of the fittest. Imagine waking up one day and… https://t.co/M9uJ0ACSuf
— Nithin Kamath (@Nithin0dha) 1612964878000
The lesson in this for retail, remember if something seems too good to be true, it usually is. Stock markets are th… https://t.co/hYGC9jaeqz
— Nithin Kamath (@Nithin0dha) 1612964878000
MF portfolio strategies
Radhika Gupta, MD and CEO, Edelweiss Asset Management, shared her core mutual fund portfolio: Liquid/arbitrage fund, balanced advantage fund, mid-cap/small-cap fund, international fund - developed and international fund - emerging. “Why no large cap fund, everyone asks? I believe BAF gives you a similar upside with lower risk and drawdown. The addition of mid/small cap via SIPs is for the long term alpha. Barbell approach,” she said.
Why no large cap fund, everyone asks? I believe BAF gives you similar upside with lower risk and drawdown. The ad… https://t.co/Ew8wXmglQ2
— Radhika Gupta (@iRadhikaGupta) 1612876628000
Fantastic Feb
Independent market expert Sandip…
Read more:Tweet Buster: Why Taleb sold his Bitcoin holding & Cassel on how long to hold a stock
