Title:
Are you aware of the possibilities of digital assets in the real world and what they can mean for your investment strategy?
Core idea:
Digital assets are slowly transforming the way we do business and this has investment strategy implications.
Fact #1:
ITS A FAD SAYS THE MACHINE
Wall Street keeps dismissing the digital asset movement as a fad.
This is a mistake
It reminds me of what people said of the internet
And online shopping
And online banking
And many other things
Fact #2:
THE MASSES AND OBJECTIVITY
Proactive wealth managers have a hand on the pulse of Wall Street but dance to the drum of objectivity
I must be objectivity
I've drank the Kool-aid and got sick before
I must study this space and become informed to help my clients make informed decisions
I've studied the masses for years and I've learned that often they are wrong
Fact #3:
STUDY THE MASSES
See what everyone is doing and ask lots of questions
The masses are often wrong
Wall Street leads the masses
CNBC caters to the masses
I study the masses
Fact #4:
STOP REFLECT ACT
Trust but verify and act swiftly
Acting doesn't mean investing
It starts with curiosity
Then information
The taking that information ans making informed decisions
Life lesson:
It's not about understanding the next stock pick it's desire to understand and prepare for what's to come
Apply:
How comfortable are you in understanding digital assets?
How comfortable is your financial advisor?
How do you think this impacts your investment strategy?