Who do you want to pay attention to?
As a person who reads investment newsletters, essays, and opinion pieces, this is a critical question I want you to ask yourself.
You see, it’s easy to agree with people who promote beliefs that align with your own… but does that work when it comes to investing?
My experience is no. It does not.
People who create real wealth from the financial markets are wired differently. They’re rarely the most agreed with because – to make real wealth from financial assets – you have to buy things when everyone else is scared of them.
For instance, in 2015, I gave a keynote speech to a sold-out audience at our annual PBRG Infinity conference. It’s an exclusive event reserved for our best subscribers.
At the time, the previous bull market was just over five years old. The S&P 500 was above 2,000. But many investors back then didn’t believe it could continue roaring higher.
One speaker even recommended burying your money in your backyard and staying out of the stock market altogether.
When I took the stage, I offered the exact opposite advice.
I told everyone in the room we were on the doorstep of a massive rally in stocks… and that everyone should dive headfirst into equities.
To say people thought I was nuts was an understatement. The more polite members of the crowd muttered to themselves. The bolder ones told me to my face how wrong I was.
People I respected and liked were all but telling me to my face that I was a fool. I laughed it off… but it hurt. “Was I wrong?” I wondered to myself.
I reexamined the facts. They screamed, “Buy, buy, buy.” So I decided to brush off the naysayers and stick to my guns… And boy, I’m glad I did.
Time has proved me right. Since my 2015 speech, the S&P 500 is up over 64%. And stocks I’ve recommended along the way like Nvidia have been up as much as 580%.
Meanwhile, if you buried all of your cash in the backyard as the other speaker recommended, inflation actually ate away at your savings…
I’m still mad at myself because I should’ve done more to convince more people to get into stocks in 2015.
I didn’t because I was afraid I’d look foolish. I vowed never to buckle under self-centered fears like that again.
In 2016, I had a chance to redeem myself… and I did.
My Redemption Moment
That’s when I first recommended bitcoin at about $400. Herds of analysts (with nary a millionaire among them) howled that I was being irresponsible by recommending “magic internet money.”
One analyst in particular wrote a scathing email to me predicting utter doom. He went so far as to warn another person not to work with me on a joint effort to promote bitcoin to our shared readers. Fortunately, the person chose to listen to me and not the other analyst’s “nervous-nellie” rantings.
He put his readers in the position to make huge profits from a string of winners that went up as much as 7,000%, 15,000%, and 150,000%.
Today, I’m proud to say I continue to promote crypto assets with everything I have in me. In my opinion, crypto has – and will – continue to change the lives of my subscribers for the better.
I mention all of this because – once again – we’re seeing some negative headlines about crypto in general – and specifically bitcoin – that has analysts and commentators alike howling about the dangers of bitcoin once again.
But are these people worth listening to? Have they gained our trust as people that know how to make and keep large amounts of money?
Before you answer that question, consider this…
Jack Dorsey has founded two companies, Twitter and Square, with a combined market cap of nearly $120 billion. He’s worth $8 billion.
Dorsey believes bitcoin will grow to become the world’s primary currency. He even had his company Square invest $50 million into bitcoin.
Paul Tudor Jones is a legendary hedge fund manager. He’s worth about $5.8 billion and manages a shade under $40 billion. Over the last 30-plus years, he’s made tens of billions in profits for his clients. He recently put 2% of his net worth into bitcoin.
Tim Draper made over a billion dollars from venture capital investing. And he owns approximately $342 million worth of bitcoin. He projects bitcoin will hit $250,000.
MicroStrategy, a Nasdaq-listed company, has invested $425 million of its corporate treasury into bitcoin. Several other corporate treasuries also hold millions of dollars’ worth of bitcoin.
Now, add to all of that: The most powerful bank regulator in the United States – the Office of the Comptroller of the Currency (OCC) – has already given banks the green light to both custody and create crypto based-products.
Then ask yourself: Do you want to listen to people who have a demonstrated track record of amassing billions of dollars in wealth? Or do you want to listen to analysts and commentators who aren’t even millionaires – let alone billionaires?
I know that’s harsh… And I want you to know I understand a person’s value isn’t in the size of their wallet. But when it comes to giving you guidance on what to do with your money, you better believe the size of a person’s wallet matters.
That’s because we’re talking about potentially life-changing money you could lose out on if you listen to the not-yet-millionaire “nervous-nellies.” If you end up with no exposure to bitcoin, it’d be like burying your money in the backyard during the most epic stock market run in history.
Not My First Rodeo
This isn’t the first time I’ve heard people predicting the imminent demise of bitcoin. Bitcoin has been declared dead at least 382 times since it was created in 2010.
The oldest recorded obituary came on December 15, 2010, when a commentator wrote, “Why Bitcoin can’t be a currency.” The most recent came on September 4, 2020, when another commentator wrote, “Bitcoin is Worthless in (the) Long-term.”
From December 2010 to its peak, bitcoin rose 6,660,566%. Even after the brutal 2018 crypto winner, bitcoin is still up 3,798,900%. Meanwhile, stocks are up only 175%, gold 37%, and if you simply buried cash over the past 10 years… it’s worth less today than it was in 2010.
Look, I know smart people can disagree about the merits of bitcoin. But friends, the truth is, the bitcoin adoption train has already left the station…
Consider the following:
Fidelity Investments, Visa, MasterCard, PayPal… they’re all already working with bitcoin. The CME, the CBOE, and the Intercontinental Exchange (owner of the NYSE) have all approved bitcoin-trading products.
Bitcoin is well on its way to being integrated into the global financial system… whether the naysayers choose to accept that or not.
Switzerland – which has the highest percentage of ultra-high net worth individuals in the world – has already passed laws to integrate bitcoin into the very fabric of its society. The World Economic Forum has created a consortium to write rules that will incorporate crypto into global finance.
Long story short: Adoption of bitcoin as a legitimate asset is already underway. Ignoring that is the same as burying money in your backyard. Sure, it might make you feel safe… but it won’t make you a dime.
Let the Game Come to You!
Editor, Palm Beach Daily
P.S. Because of my track record, I’ve been called America’s No. 1 investor. And like my outlandishly bullish call on the S&P 500, today, I’m going to put my track record and reputation on the line, once again…
It’s a technology so disruptive I believe it will be the No. 1 investment of the decade. I’m talking about blockchain – the underlying technology of bitcoin.
In all my time as a Wall Street exec – and in more than three decades in finance – I’ve never been so convinced of an investment’s potential. I firmly believe this will be the single-best place to grow your money in the next 10 years…