저자: Jamie Nicholls · 외국인
다듬은 글
you have been a big bowl on Bitcoin yeah we had some folks that some people know on our show earlier this week Becky was out in Omaha I want to show you what they had to say if we have to roll the tape on Bitcoin from mr. Munger and mr. Buffett the asset itself was creating nothing adding it to scumball activity I would short it if there was an easy way to do it so there you have it you have Bill Gates Warren Buffett Charlie Munger one of them was calling it a scum ball activity the other saying Bill Gates saying he would short this thing if you could and you're saying they're all wrong yeah explain well look not everybody is right all the time and I think we have to acknowledge that we all have biases and look I'm a disciple of Buffett and Munger and one of the things that they have said for years which I believe is you define a circle of competence and you stay within it and I think it's been clear in his entire investing career that technology is not in his circle of competence and so the only technology name that he's owned is Apple I mean he you could claim that IBM was a technology company that's borderline out of that that didn't work anyway right and Apple I was thinking that if he got in Bitcoin if he eventually got in Bitcoin when he got in the vents it got an Apple it had already be at a million dollars probably probably but samatha just going back to this I don't think he looks at as a technology I think he looks at it as an asset class that he would put in the same a similar class with gold just it's a non-productive asset it's an asset that is only worth more if other people agree to pay more for it that that's the type of issue that each I also agree with I think I think it is exactly that I think it is a replacement to gold but again but you like gold you're saying you like non-productive assets I like in a portfolio so again my portfolio is 99% risk on 1% risk off and in that 1% risk off bucket I think that something like Bitcoin is really important why because it is not correlated to the rest of the market and the biggest thing that's generally you don't believe that the success of Bitcoin over the past several years has been correlated to the market I would say not directly correlated but clearly so the idea that as much liquidity in cash sloshing sloshing around the world has allowed people to buy into Bitcoin in a way that they wouldn't have frankly if the different than being correlated to a strong I've been in the liquid I've been in the Bitcoin market since 2012 and I feel like I'm in two different universes I need a passport to go between the Bitcoin world and my regular world these are not the same people and what I would tell you is the people that own Bitcoin in 2012 all the way up to now the majority of those people view it as a hedge to the traditional financial infrastructure whether that's true or not is unclear but that's how we've all viewed it separately what Joe says is absolutely right there's a big difference between correlation and liquidity and the reality is all of these financial assets in the traditional markets are fundamentally correlated we saw that in 2007 everything broke down things that we thought were hedges went away and so I think it's really important to not forget what happened there so in 2018 or 19 heaven forbid we go through another cataclysmic financial event we are going to see the same fundamental correlation and so again I ask why would it not make sense to have a non correlated hedge for a small amount this is about buying insurance it was the same reason why in 2007 and eight the folks had bought simple simple insurance bought some CDs buy gold I mean at least Gold's got a three thousand year ten thousand year record of being a store of value I mean I think that's the other thing Buffett saying there's no reason to think this as a story that's a fair point but I think these are not exclusive decisions and you know for for this younger class of entrant into the market they probably don't want to buy gold in fact they don't want to buy gold and they want to buy something that's much more digital and reflective of their value low about the idea that that the Charlie sort of suggested that there's something sort of scummy about that or that there's a lot of scum in the crypto world right now and and that there's a lot of people who have been sort of sucked into this world that have bought into this world by by stood by some folks who may not be as look I think it's really unfair to not understand something and then to disparage it again I think he's exceptional I think Warren Buffett is exceptional I think Bill Gates is exceptional at what they do and I think it's fair to say that in 30 or 40 years if I'm you know a vibrant successful investor and if I'm back on this show the idea that I know what's happening 30 or 40 years from now as well as some other new 40 year old or 30 year old entrant into the market it's just not true the reality is things change hey there thanks for checking out CNBC on YouTube be sure to subscribe to stay up-to-date on all of the day's biggest stories you can also click on any of the videos around me to watch the latest from CNBC thanks for watching
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