Are digital assets transforming the economy and why is your financial advisor not talking about it?

23/05/2022 32 min Temporada 4 Episodio 8

Listen "Are digital assets transforming the economy and why is your financial advisor not talking about it?"

Episode Synopsis

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?


More episodes of the podcast Wealth in the Fifth Dimension