Want To Become A Better Investor?
Yes, I Want To Make More Money
I Do Not Want To Make More Money.
You can talk to five different professional investors over one particular stock. There is a chance that you might get a consensus among three or four individuals in the group. Try talking to old school investors about cryptocurrency. Or maybe you want to ask young traders about Gold. The chances are good that you will a strong consensus against each.
“Against my advice, my son (@SchiffSpencer) just bought even more Bitcoin. Whose advice do you want to follow? A 57-year old experienced investor/business owner who’s been an investment professional for over 30 years or an 18-year old college freshman who’s never even had a job.”
He even added a polling question at the bottom of the tweet. The poll is valid through Sept. 8 and it has already passed the 82,000 response mark. A recent updated check on the tally heavily favors the kid.
The younger Schiff reacted to the tweet when it was first posted on Sept. 7. He made a point of stating that Crypto Twitter supported his position. However, far more responses than that sector went his way. The Day 1 results were at 81 percent and nothing has changed on Day 2 as the poll draws to a close.
The support was widespread across multiple social media outlets. Usman Majeed is the CEO of Quantum Labs. He weighed in on the discussion with the following response:
There was support for each investor’s duel strategy. Anthony Pompliano is the CEO of Morgan Creek Digital. He summed up the situation as follows:
“Using your son to hedge your gold bet is a great idea. Gold goes up, you benefit. Bitcoin goes up, your son benefits. Clever way to be long on both assets without publicly capitulating on gold.”
One Reddit user saw things the same way. That response was:
“Sounds like Peter is making sure he can have it both ways depending on Bitcoin’s success or failure. If Bitcoin fails, he can say ‘See, my son should have listened to me.’ If Bitcoin succeeds, he can say ‘Look how smart my son is, the apple doesn’t fall far from the tree.’”
Two weeks prior to this tweet, Peter Schiff solicited Bitcoin donations from Twitter. They were for his son’s 18th birthday. This discussion is likely to continue with age a big deciding factor. That is just the way it is between fathers and sons.