What is going on today? - Megathread

So this afternoon, my portfolio has dropped by about 1% and I can’t figure why out exactly… Some of my stocks have dropped, but they’re still all above my buy threshold (i.e. according to my spreadsheet they’re all worth more than when I last bought them)…

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Bid ask spread

My portfolio is up and down like a yo-yo the last two weeks! (green-red-green-red-green).


Talking of being up - FUM is up 33% today yet I am still sitting on a 12% loss. Bought at the peak a month ago.


:crazy_face: @Xenor

Interesting read but may make those who always quote Mr Buffett a little torn :joy:

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Is time to retire and let the average Joe makes his own decision.

Of course 80 years plus people who are affiliated with traditional institutions want to manage your money and feel threatened by cryptos.

So to summarise :

Cryptocurrency, SPACs and opening up investing to the public = bad.

Fossil fuels = good.



Or put another way he is totally right?

SPACS - Many are now saying they regret investing in as they lose money
Crypto - what he said is accurate and extremely volatile
Public acting like gamblers? - spend an hour on Reddit and yes he is correct

Fossil fuels - A necessary evil that he recently explained WILL be there with or without him :+1:

I’m not his biggest fan but the comments can be interpreted in different ways and I find it hard to argue with what he said to be honest.


At the same time:

Many - can mean at least 2
Volatile - doesn’t have the same definition as disgusting
Reddit - does not equal the general public

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Crypto are good but too volatile plus they drain so much energy…

Yes, the man has an opinion and we should respect it.
But when crypto is like a currency but its price is so hectic.

Not sure of your point really :joy: I literally said it can be interpreted in different ways and I just put the opposite as the OP as an example.

I should however clarify I said public but he made the point of Robinhood and the GME situation which was around the Reddit crowd.

I also said crypto comment was accurate, which I also believe, but only added + volatile as a point and SPACs well yes it can mean more than 2 but unless you live under a rock you will be hearing more and more people are now realising they have been separated from their money due to SPACs sounding fun/exciting to only end up as a nice little earner for some rich people :man_facepalming:

I do actually find it hard to argue with what he said when actually seeing the full context and not just snippets people quote to make him sound like an out of touch OAP who hates the young-uns doing well :joy:

The crypto & Meme fanboys will read it as BAD but they are always overly protective and don’t often like to face the fact both could/may ruin peoples financial lives and are still a form of gambling. No-one actually knows if they will last/succeed long term.

The guy is 97 years old and out of touch. In the Berkshire portfolio there were name such as coke, fossil fuels companies, etc…

Buffet himself said many time that he values business over ethics- or the environment. For decades they have being pouring money in businesses that pollute the world. So when these people make an environmental argument against crypto is laughable. I am not dismissing the problem just noticing the hypocrisy.

Crypto has many flaws but new coins do not consume any energy- look at nano, Polkadot and soon Ethereum. I sincerely hope all the crypto in the future will be based on a proof of stake or proof of space and time concept. Mining is already dying and even the second biggest crypto for market cap is going toward more sustainable practice.


What’s happening?

Has a chip shortage made everything drop?

For every tiny step forward my stocks take 5 back.


charlie munger has to be the most boomer out of the all of the boomers. lol

i love watching him and buffet cos they are OG

No he didn’t. The reference to GameStop was made by the article writer in order to contextualise Robinhood. It’s not clear that Buffet made any specific reference to GameStop. As far as that article suggests, Buffet was criticising the trend of treating the market like a game.

I suppose the notion is that Berkshire Hathaway is the ultimate long-term value investor. Their kind of investing makes money because of the performance of the companies that they select. The investing that you sense they despise is the type that makes money because of some quirk of the market itself.



Charlie munger and warren buffet are legendary investors and still have the edge (on top of being minted lol). They are right about owning fossel fuels cos thats what powers the transition to carbon nuetral. gold rush-shovel sales something something. its still smart.


I do think they are wrong about crypto. The philisopical idea of value is currently evolving in society and in spite of what they think, there is money to be made in having the cahunas to invest in it early (and deep). I guess they don’t like it, but hey that’s life.

With crypto, you are offering a ledger for any financial system completely removing the clerks of the world by automating processes in a programmed rule powered by encryption on a decentralized (trusted) blockchain. That’s a sexy prospect in a market that values being able to trust counterparties. You’re talking about a revolution in finance and politics by extention.

Yes, it’s gambling. But so is everything tbh. You may come up with complex systems to be able to make predictions but we are forever reaching in to the dark unknown in life and time, which is why no one dictates what someone else has to buy or sell. Everyone can be wrong.

The arguments about the power usage, imo, are futile if we consider (a) how much needless power everyone uses already in doing all the needless crap humanity has (b) our drive to be carbon nuetral not just by limiting how much we can consume, but also how much we can generate (c) make arguments for the removal of other inefficient systems before we crap on bitcoin and try to do something stupid like ban the internet.

imo they just jelly. free market is free.