Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Warren Buffett and Charlie Munger had this to say about crypto in 2018
A press conference ^ | 2018 | Warren Buffett, Charlie Munger

Posted on 12/04/2022 3:46:10 AM PST by Krosan

Good advice from 2018!


TOPICS: Business/Economy
KEYWORDS: buyacluewithdollars; crypto; money; scam
Navigation: use the links below to view more comments.
first previous 1-2021-34 last
To: bert

A good lesson learned.


21 posted on 12/04/2022 6:05:22 AM PST by ComputerGuy (Heavily-medicated for your protection)
[ Post Reply | Private Reply | To 19 | View Replies]

To: Krosan

He has spoken negatively about gold too…


22 posted on 12/04/2022 6:12:53 AM PST by aMorePerfectUnion (Fraud vitiates everything. )
[ Post Reply | Private Reply | To 1 | View Replies]

To: Krosan

I lost a bunch of $$$ in my IRA when the .com market crashed in the 90s so me investing in electronic money ....NO WAY


23 posted on 12/04/2022 6:12:57 AM PST by antidemoncrat
[ Post Reply | Private Reply | To 1 | View Replies]

To: Krosan
Gee, sounds like what I have been saying all along:

There is no intrinsic value with crypto. That it has the illusion of being out of the governments reach, but nothing is really out of the government's reach. It appears now, that the government allowed it to flourish because they wanted the cover of crypto for their own nefarious reason, to launder their graft & corruption.

I do kind of regret not getting into the scam early though, but I would have gotten out of it when I had amassed my first 10s of millions, because I always felt it would end badly. Not knowing when that end would come, was probably the reason I never took the step to actually enter. My timing with investments has always been poorly timed, and it always seem to come when one of these great investments was nearing the peak of its ascent, and its descent was a quick one with no return to its peak. In other words, I always lost. πŸ˜‹

24 posted on 12/04/2022 6:18:48 AM PST by Robert DeLong
[ Post Reply | Private Reply | To 1 | View Replies]

To: Right_Wing_Madman

Dream on Alice, Wonderland is just around the corner.

Name me one thing that is real about it. It is intangible not tangible and there is a lot of difference between tangible and intangible.


25 posted on 12/04/2022 6:31:48 AM PST by pcpa
[ Post Reply | Private Reply | To 11 | View Replies]

To: aMorePerfectUnion

He speaks that way about gold because he does not get a return on his investment like he does in operating companies.

However not all operating companies provide a return on their investment when they go belly up like the Delorean Motor Car Company did.


26 posted on 12/04/2022 6:35:01 AM PST by pcpa
[ Post Reply | Private Reply | To 22 | View Replies]

To: Krosan

It did not take a genius. However the less obvious lesson from this is that it took 13 years for crypto to blow up. In the meantime, a lot of investors became wealthy. In the end, more lost their shirts.


27 posted on 12/04/2022 8:00:12 AM PST by Brilliant
[ Post Reply | Private Reply | To 1 | View Replies]

To: pcpa
He speaks that way about gold because he does not get a return on his investment like he does in operating companies. However not all operating companies provide a return on their investment when they go belly up like the Delorean Motor Car Company did."

Buffett has historically invested in undervalued companies with a long history of profitability, positive return on investment, intrinsic value, and excellent management. Neither crypto nor gold meet these parameters. In addition, Buffett only invests in businesses that he understands (i.e., can explain to an eleven year old), which is why he had historically focused on razor blades, insurance, soft drinks, oil, and banking -- basic products that people use every day.

28 posted on 12/04/2022 8:20:02 AM PST by Labyrinthos
[ Post Reply | Private Reply | To 26 | View Replies]

To: Robert DeLong
There is no intrinsic value with crypto.

I've never understood the concept of crypto mining. What does it produce? Even if I understood it, I wouldn't be able to mine squat on my 10 year old Mac Mini. I'd also be nervous as hell storing supposed substantial crypto purchases on the computer.

29 posted on 12/04/2022 8:42:25 AM PST by EVO X ( )
[ Post Reply | Private Reply | To 24 | View Replies]

To: Right_Wing_Madman

YOUR BITCOIN is possibly only existing on PAPER.

I can buy a ream of paper for just over $5. That is a penny a sheet....


30 posted on 12/04/2022 8:47:15 AM PST by ridesthemiles
[ Post Reply | Private Reply | To 11 | View Replies]

To: EVO X
You could buy crypto, mining it was just assumed to be the free way to obtain it. But it was only free to mine it, if you had the ability to hack into someone else's power supply.

But yes, I too did not have the desire to mine it myself. I would have bought it had I decided to get involved. πŸ™‚

By the time I even bothered to read about it, it was way over priced anyway for me to invest in it.

31 posted on 12/04/2022 8:52:01 AM PST by Robert DeLong
[ Post Reply | Private Reply | To 29 | View Replies]

To: Robert DeLong

Giving someone you DO KNOW KNOW control over something YOU OWN and expecting them to take good care of it comes to a bad end.

Reminds me of the ads for ‘a CERTIFICATE’ for the GOLD you own.

A single gold bar can have 5,000 “CERTIFICATES” out in the wind. YOU ONLY OWN A SHEET OF PAPER-—about 1 cent worth of paper.


32 posted on 12/04/2022 8:55:12 AM PST by ridesthemiles
[ Post Reply | Private Reply | To 24 | View Replies]

To: Krosan

I assume that the “market price” of bitcoin is made by a few holders agreeing to buy and sell to each other during the day to keep the price propped up.


33 posted on 12/04/2022 9:25:59 AM PST by Newtoidaho (All I ask of living is to have no chains on me.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Robert DeLong

I remember some of the earlier days of crypto mining. When energy prices increased, racks of computers were sent to auction markets to do something more productive.


34 posted on 12/04/2022 9:47:32 AM PST by EVO X ( )
[ Post Reply | Private Reply | To 31 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-34 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson