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NFTs
Mr. Perfect
Member, Moderator Posts: 66,381 ******
I realize the folks here comprise mostly an older crowd but I figured I would ask anyway since we have investors of all stripes here as well as folks who collect and are interested in that sort of market. Is anyone here starting to sit up and take note of this?
So, ok, let me back up. This article explains what NFTs are.
When something sells for multiple millions of dollars, I pay attention even if I am not personally motivated by the market to participate. I do find it interesting if not compelling.
What say you?
Some will die in hot pursuit
And fiery auto crashes
Some will die in hot pursuit
While sifting through my ashes
Some will fall in love with life
And drink it from a fountain
That is pouring like an avalanche
Coming down the mountain
And fiery auto crashes
Some will die in hot pursuit
While sifting through my ashes
Some will fall in love with life
And drink it from a fountain
That is pouring like an avalanche
Coming down the mountain
Comments
As P.T. Barnum said, "There is a sucker born every minute". Probably because I am rapidly approaching senior citizen (geezerhood) status, I am extremely leery of digital assets like crypto currency so NFTs hold no interest for me. Bob
i agree with Bob, at 72 i am happy with stocks, bonds and cash. they have been good to me for the past 20 years and i will just stick with what i have a little knowledge of. as a case in point i had a house roof put on last week and the guy would not take crypto currency for payment.
I am deeply into geezerhood and want nothing to do with trading things of no intrinsic value but wildly fluctuating price.
Risk.. all about Risk
Much of investing has switched from people understanding and working the fundamentals, to simple speculation. If someone believes a stock will be worth more in a week then they can buy and sell and make a profit regardless show the underlying company performs. Who cares about alpha and beta when stocks are trading in an emotional basis?
That’s NFTs in a nutshell. Everyone agrees an item has value and then people compete to own it.
We have a solid diversified portfolio that has proven to be very good for us. I got a call from my broker yesterday that there is someone that wants to buy my Ford bond that has been paying 7.85% since 2000. We bought $20K of it back then and they are offering 2K for every 1K that we own. I laughed and told him "thanks for the offer, but I can't replace it with anything close to what it is paying. Tell them to find another sucker.
Joe
As I've said many times, I've been sending money to various fund managers since the Dow was at 600. I do no stock buying myself, preferring to leave those decisions to people who understand it all. I don't make regular monthly contributions any more because I'm past the point where the funds earn more than I could contribute anyway.
Slow and steady; tortoise and hare. Time is the best earnings tool. All these fad ideas end up being "get broke quick" schemes.
Sounds pretty close to my investment policy. We have been invested in a couple of our funds for 30+ years. I have played with a dollar or two myself but in the long run those funds have done real well, so no sense screwing with success. Every time the market has gone down in those 30+ years people tell me to panic and pull our money out. Nope, just stayed the course and am quite a bit better off for it.
Now if I could just find someone to give me big bucks for my pet rock collection, I'd be rich! Bob
Exactly! The one time I had my financial guy buy a specific stock for me (on a tip from my cousin that made himself a millionaire by age 48) I turned $1000 into 28 cents in about 3 weeks... Ouch.
"A fool and their money..."
🤣...Just sell your 4th star!!!
Combat Vet VN
D.A.V Life Member
Careful diversified investments have worked well for use over the years.....
My son still gives me a hard time about not buying Ford stock after they came back from the 2008 crash.....he wanted 1000 bucks from his college fund to buy it at 1.00 a share....it was at 12 not too long after that. I told him it would never be worth his time.....
I agree, except I have added several other things being, gold, silver, ammunition and long term food.
irony.....thinking all these Bitcoin and clones are nothing but scams while organizing a suitcase full of New Iraqi Dinars into similar denominations