Ignore The Gloom And Doomers: They Will Not Make You Money
(Edited)
FUDsters. They are in every market. Actually they are in all walks of life.
In this video I discuss how, over the decades, I heard the same end of the world forecasts by those espousing histroic market collapses and the end of the financial.
Keep in mind we are not talking about market corrections or that companies will not go bankrupt. These are a part of life so we have to be diligent with our research and what is at risk. However, go in cycles. This is something to remember since the bad times are followed up by good.
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The death of Hive is nowhere as oft predicted as Bitcoin but there is that sentiment out there.
Of course, we also have that Hive is a stablecoin.
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I tend to watch it from the outside as it often paints a good picture of the general markets and where we might be headed. 2021 correction was a result of people piling into meme coins like crazy that had really no right being that high. This one I feel is a result of the meme NFT projects. There always seems to be cycles of huge hype around some weird dumb projects and after that hype wears off we hit a major correction till the next hype.
I tend to step back further and feel this is nothing more than a risk-off trade. Equities are also wavering with all the Fed noise, something that crypto did not escape. I agree about the meme coins, a bit like the ICO insanity of 5 years ago.
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What would the markets be without these guys, without dumb money, seasonality and emotions? It takes a while though to be able to spot them and to understand these cycles.
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The thing it a lot of them are not even money players. Instead they are on the sidelines just talking about it. At least I can respect those who short things on the belief everything is going to get crushed. They have some skin in the game.
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how we say here after the storm always comes the calm that is to say that we must hold our cryptocurrencies and calmly wait for the moment of market recovery
after rain comes sunshine yh?!
Summary:
In this video, Task discusses the issue with doom and gloomers in investing and emphasizes the importance of being optimistic and having a belief in oneself and one's intuition. He highlights the significance of understanding the nature of different markets like cryptocurrency, equity, and commodities. Task also addresses the predictions made by individuals like Peter Schiff about market crashes and the overall economy, stressing the need to filter out noise and misinformation. He delves into the concept of business cycles, the impact of zombie companies on the economy, and the necessity of clearing out non-functioning companies for resource optimization. Task concludes by underlining the cyclical nature of life and the importance of considering both upward and downward market movements.
Detailed Article:
Task starts by highlighting the importance of optimism and self-belief in investing, drawing insights from successful individuals who are generally optimists. He emphasizes the need for understanding oneself and having intuition, coupled with studying and learning to navigate the vast amount of information available across different markets like cryptocurrency, equities, and commodities.
Addressing the issue of doom and gloomers, Task talks about how some individuals consistently predict market crashes and economic collapses, citing examples like Peter Schiff. He cautions against blindly following such predictions, pointing out that while market pullbacks and recessions are part of business cycles, one must be mindful of separating genuine information from noise.
Task discusses the prevalence of zombie companies, estimating that around 20% of the S&P consists of such entities. He argues that these companies, surviving on debt and stock buybacks, need to be eliminated to free up resources for more productive uses. While acknowledging the necessary cleansing process in the market, he also highlights the benefits of removing non-functioning companies for overall economic health.
Furthermore, Task stresses the cyclicality of life and how understanding and studying cycles can be valuable in navigating investing and business decisions. He contrasts the perspective of doom and gloomers with a more balanced view that considers both upward and downward movements in markets.
In conclusion, Task encourages viewers to maintain a positive outlook, be discerning about information, and be aware of the cyclical nature of both markets and life. He cautions against relying solely on negative predictions and emphasizes the importance of seizing opportunities and being prepared for fluctuations in various markets.