[Stu from NYC]

Originally Posted by DAVES

Wisdom from BAZOOKA bubble gum comic. The big roll. The one that cost a nickel. The one that gave you six lumps for the price of five of the penny size.
Buy low and sell high.

Buffet, listed as THE GREAT stock picker. Buffet does not make money on every trade.

Life? Part of living is making mistakes.

But if you look at his body of work he has done an awesome job making money for his investors

[Topspinmo]

Originally Posted by Stu from NYC

Why would you think he is a tax cheat?

O please everyone heard his infamous statement. Why do you think he has army tax code lawyers, why do think lobbyist lobby career ————-. (Not allowed to say that word).

[dewilson58]

Originally Posted by Stu from NYC

But if you look at his body of work he has done an awesome job making money for his investors

Depends on what period of time you look at.

Last five years: Berkshire 13.3%, S&P 14.9%

Last ten years: Berkshire 15.4%, S&P 14.5%

(Barron's March 4, 2022)

[Boston-Sean]

What a great thread.

Lots of people who don't understand Bitcoin whining about those of us who do and who've made tons of money.

If\when I buy my Villages house it will be 100% with bitcoin profits.

Great Buffet reference tho. I didn't know he was still alive.

Fidelity is kind of knowledgeable about investments and they seem to think Bitcoin is OK:

Fidelity will soon offer bitcoin as an option in 401(k)s - CNN

[Boomer]

Originally Posted by Boston-Sean

What a great thread.

Lots of people who don't understand Bitcoin whining about those of us who do and who've made tons of money.

If\when I buy my Villages house it will be 100% with bitcoin profits.

Great Buffet reference tho. I didn't know he was still alive.

Fidelity is kind of knowledgeable about investments and they seem to think Bitcoin is OK:

Fidelity will soon offer bitcoin as an option in 401(k)s - CNN

Hey,

Nobody is whining.

No need to be condescending. (Do I see a little ageism between the lines? Well, not exactly between the lines, is it?)

No need to be so upset because some people don’t care about Bitcoin and/or those people are not saying things you want to hear. Can’t find your trophy here?

Btw, even though I am oh so decrepit, I already knew about Fidelity playing to the Bitcoin crowd. That’s called marketing. Fidelity knows some people want to buy Bitcoin, so Fidelity is providing the tools for Bitcoin buyers to use — through Fidelity. That’s all. Fidelity does not actually know whether Bitcoin is going to be “OK” or not. (said Boomer, explaining patiently)

And, just for the record, guess what…….

Ya know that post I wrote earlier in this thread — about my dot-com bubble dancing days. Well, my dot-com funds were all Fidelity funds. But, at least I knew that Fidelity was not telling me dot-com was “OK.” Fidelity was just marketing to the times.

About your future TV house built of Bitcoin? Maybe so. Who knows? But I would lay some real money down on a bet that there are a whole lot of houses in TV built out of dividends, years and years and years of dividends.

Having fun at the Bitcoin Casino is fine, but maybe branch out a little. I was sure glad I had backup when I was putting my 403(b) in dot-com, and oh my, my, at the time, I thought I knew so much, so very much……….

Boomer (Advice 5 Cents)

[DylanTodd]

Originally Posted by tophcfa

Warren Buffett, indisputably one of the most respected investors ever, stated he wouldn’t buy all the Bitcoin in the world for $25. Buffett believes assets have to have value, deliver something to somebody. He said he would gladly write a check for $25 billion for either 1% of all the farmland our apartment buildings in the country, those assets produce food and rent, but Bitcoin produces nothing. He further stated that the only thing one can do with Bitcoin is hope someone will be willing to buy it back and that it undermines the Federal Reserve system. In his strongest statement, Buffett said that Bitcoin is “probably rat poison squared”.

To the OP, what was your motivation in creating this thread? I sense you are frustrated and are lashing out at crypto currency. I can sympathize, your hard earned dollars are diminishing at an advertised rate of 8 to 10% and the true purchasing power lost is likely much higher.

Sounds like you would benefit from coming to a Villages crypto currency club meeting. We actually have one tomorrow morning at the Water Lily rec center from 9am to 11am in person and we also have weekly virtual meetings Saturday mornings. Members of the crypto club can help teach you how to gain that to 8 to 10% back in interest bearing defi accounts.

If anyone in this thread would like more information and would like to have a constructive conversation about bitcoin and other crypto currencies reach out to me at dylanwaynetodd@gmail.com

Cheers,

Dylan

[Boomer]

I am loving this thread.

But I gotta stop doing improv and go watch Ozark now.

Seeya,
Boomer

[Stu from NYC]

Originally Posted by dewilson58

Depends on what period of time you look at.

Last five years: Berkshire 13.3%, S&P 14.9%

Last ten years: Berkshire 15.4%, S&P 14.5%

(Barron's March 4, 2022)

How many of us would not be thrilled with that kind of ROI over past 15 years

[Boston-Sean]

Originally Posted by Boomer

Hey,

Nobody is whining.

No need to be condescending. (Do I see a little ageism between the lines? Well, not exactly between the lines, is it?)

No need to be so upset because some people don’t care about Bitcoin and/or those people are not saying things you want to hear. Can’t find your trophy here?

Btw, even though I am oh so decrepit, I already knew about Fidelity playing to the Bitcoin crowd. That’s called marketing. Fidelity knows some people want to buy Bitcoin, so Fidelity is providing the tools for Bitcoin buyers to use — through Fidelity. That’s all. Fidelity does not actually know whether Bitcoin is going to be “OK” or not. (said Boomer, explaining patiently)

And, just for the record, guess what…….

Ya know that post I wrote earlier in this thread — about my dot-com bubble dancing days. Well, my dot-com funds were all Fidelity funds. But, at least I knew that Fidelity was not telling me dot-com was “OK.” Fidelity was just marketing to the times.

About your future TV house built of Bitcoin? Maybe so. Who knows? But I would lay some real money down on a bet that there are a whole lot of houses in TV built out of dividends, years and years and years of dividends.

Having fun at the Bitcoin Casino is fine, but maybe branch out a little. I was sure glad I had backup when I was putting my 403(b) in dot-com, and oh my, my, at the time, I thought I knew so much, so very much……….

Boomer (Advice 5 Cents)

You realize that I didn't start this thread, right?

You Luddites are the ones beating your chests about how bad Bitcoin is. I'm just watching the show.

Wall st. is all in on Bitcoin. You can retire the Tulip references.

Pro Tip: Don't buy it if you don't like it. Bonus Tip: Don't get butthurt watching other people make money.

That dotcom story was great though. Up 100%???? Wow. That's less than my energy fund the last 2 years.

[Stu from NYC]

Originally Posted by Topspinmo

O please everyone heard his infamous statement. Why do you think he has army tax code lawyers, why do think lobbyist lobby career ————-. (Not allowed to say that word).

He has not been indicted for tax fraud has he? Whose fault is it that congress can be bought to enable people to pay less taxes. Us foolish voters keep returning the same congressman to office

[dewilson58]

Originally Posted by Stu from NYC

How many of us would not be thrilled with that kind of ROI over past 15 years

I'm talking 5 and 10, I will have to sniff out 15.

[Boomer]

Originally Posted by Boston-Sean

You realize that I didn't start this thread, right?

You Luddites are the ones beating your chests about how bad Bitcoin is. I'm just watching the show.

Wall st. is all in on Bitcoin. You can retire the Tulip references.

Pro Tip: Don't buy it if you don't like it. Bonus Tip: Don't get butthurt watching other people make money.

That dotcom story was great though. Up 100%???? Wow. That's less than my energy fund the last 2 years.

Darn it, kid. You made me log back on.

That 100%-plus was fast, real fast. I was so happy with my new-found talent. I bragged — but only to Mr. Boomer. There is an old saying about people who go around bragging about money or whatever else — something about the ratio of hat to cattle.

Congrats on the energy thing though. I like energy. (And so did some big deal guy on WealthTrack last week.) I just don’t have any interest in Bitcoin. Why take that so personally and start name-calling?

“Just watching the show,” you say. We are the show. I have let this turn into some kind of generation v. generation thing. It needs to stop. I’m the grownup, so I’ll stop it.

And scene.

Boomer

PS: For anybody watching Ozark: I am on the second new episode. I am betting Ruth kills Wendy at the end of the season. (This is the last season.) But that bet might be like my dot-com bet. We’ll see.

[Luggage]

Bitcoin does provide certain value as far as it being a private currency and it has an ability be used on the internet for micro transactions. This is something Warren Buffett doesn't understand. Also everything can we use for money if other people decide as value. Silver Pieces Of Eight which themselves can only be melted down for jewelry used to be used as well as large Stones cut into Wheels. We also use little pieces of plastic all credit cards which themselves are backed by little green pieces of paper are you put in your bank or by so cold faith of credit at your bank decides you are worth so in reality it is all game of faith

[Luggage]

M g m was up 300% after the nosedive last year as well as many stocks

[La lamy]

Originally Posted by Boomer

Thanks, tophcfa,

I knew my instincts were right this time. I would not touch Bitcoin either.

They say experience is the best teacher — next to Warren Buffett, of course.

I got caught in the dot-com bubble of the 1990s. When that bubble popped, I clearly remember thinking. . .well, this must be exactly what the term ‘sucker punch’ means.

I also clearly remember my thinking that led up to getting caught in that big pop………

I thought I was seeing the future…….

I would come home from work, check my funds, and revel in my brilliance……..

There was a brief and shining moment when I had a fund doing more than 100% — rocket fast.

My thinking was so arrogant, so nauseatingly arrogant.

At least, I had not bet the farm, only the butter and egg money. But, even so, that experience reined me in and I have been boring ever since.

Boomer

I had a 'friend' who invested a lot of my money in dot-com in the 90s and I too lost a lot of "butter and egg" money. Since then I educated myself about investing and I've chosen "boring" long term dividend yielding stocks that I believe in. NO BITCOINS. Boring is so much better!