You’re asking me about Bitcoin. I get it. With all the mad money created by the Fed, inflation running hot, and a supply chain rusting away, you want to know my thoughts on Bitcoin. As I’ve written to you before, I’m not buying it. Does that mean I don’t believe in the science? No, not necessarily. I just don’t need to be the first one to find out if it’s wrong. Let me explain.
One of the hardest parts about investing is being human. We get excited about stuff. We don’t like to feel like we’re “missing the boat.” That eats us alive inside. It’s nearly impossible to get it out of your mind until what you think is a sure thing turns out to be something entirely different. Let me tell you a Christmas story.
Think about when you were a kid around this time of year. I’m talking about an age when you were a believer (hopefully you still are), with your “Red Ryder” on your list. It was impossible to get it off your mind. And it didn’t get better with time. It got worse. All the way up to Christmas Eve when sleep wasn’t going to happen—and you were afraid to open your eyes in fear of seeing “him” and ruining your Christmas.
When you’re older, that feeling doesn’t just go away. There’s stuff I’m excited about this Christmas that I can’t wait to give, but I can’t tell you because nosy eyes are reading right along with yours. Let’s not ruin Christmas.
Action Line: When it comes to investing, if there’s a cryptocurrency or stock symbol you just can’t stop punching into your phone, then maybe you’ve got “Red Ryder-itis.” It’s OK to be excited about Christmas, but keep in mind it isn’t an everyday event.
