Sabot L'ours (sabotlours) wrote,
Sabot L'ours
sabotlours

A Follow-Up

To continue yesterday's theme about money, I wanted to mention Bitcoin. Sabot! You should invest in it! It's going through the roof! Yeah. I never invest in something I don't know about. This whole cryptocurrency thing has me scratching my head. While I sort of get the concept, it just seems like a pyramid/ponsi scheme. There were several stories about it in the WSJ yesterday. I winced when I read a story about how someone's grandmother made a lot of money in it. Yeah. That sounded too much like the millionaire who pulled out of the Market in '29 when his shoeshine boy wanted to give him stock advice. So while I like big gains, I also like to invest in real things. I also mentioned Facebook yesterday as a shoulda/coulda kinda thing. I still think I wouldn't invest in it. Social media is a fleeting kind of thing. That's why I would rather invest in the hardware rather than the software. During the dot-com bubble, I didn't buy any of the new companies. Rather I bought UPS because all of those online purchases had to get to peoples' houses somehow.

And in full disclosure, even though it has only been a couple of days, my semiconductor purchase is down while the railroad I sold is up. But we'll see what happens in the coming weeks and months.
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