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troy.springer@rendezvousinvesting.com

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© 2023 by Troy Springer

Reconciling Siding with The Dumb Dumbs of Crypto

June 23, 2019

Your belief about a subject probably has a lot more to do with your identity of yourself, where you come from, where you went to school, and your profession more than unfettered reason than you would like to believe. This is most obviously true when it comes to politics, but I think it also applies to just about everything you do in life. In investing, it is most pronounced between traders, growth investors, and value investors.

 

Each school of thought would probably have something bad to say about each other. For example, a value investor might think everything a trader does is just a matter of luck, and they are fooling themselves to believe otherwise. But in most cases the true probability lies somewhere in the middle of each beleif. 

 

 

When it comes to cryptocurrencies, a lot of poor stereotypes exist about crypto investors. Your typical crypto investor may look like a faux entrepreneur with little grasp about other financial topics, and your typical more sophisticated investor may look upon anything that person is associated with as a sure scam by association. Herein lies one of the biggest issues surrounding things like cryptocurrency today, it is quite hard to separate logical analysis from preconceived notions. 

 

A few days ago I posted my portfolio to the world knowing damn well that many smart people on Twitter might label me an idiot for having a 45% position in Bitcoin. While that position is a little extreme, it works for my risk tolerance and the size of my portfolio in this stage in life. 

 

Even though I have such a large position in Bitcoin, half the articles or tweets I see online about Bitcoin make my eyes roll. Anthony Pompliano, I can't even follow that guy! The point is, you can't worry about being guilty by association when it comes to a topic as divisive as Bitcoin. Understand everyone is viewing the topic through a different lens and as long as you trust your process, you shouldn't worry about the fact that other people came to a similar conclusion using faulty logic. If people are letting their ego or identity get in the way, that is only another advantage for you.  
 

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