That old WS mantra was to the broker's benefit two ways. 1) protect them from criticism if that one stonk was a stinker and 2) mo stonks mo $150 commissions. Of course if someone was lazy and didn't do their DD and accept the results however they fell, so be it. Because there is no guarantee in anything. That of course includes diversifying into 10 stonks, which still can result in picking 10 stinkers.
You kinda have to ignore @johnarb when he's sitting on long positions with expiry dates—he tends to go full permabull. Yes, Bitcoin has outperformed housing historically, but only because it was insanely undervalued early on. If you listed a house for $400 in 2015 it would’ve been bid up to 600k overnight not in 20 years or whatever pace bitcoin has been on. But at these levels, Bitcoin isn’t really outperforming real estate anymore—at least not over the last year. It’s only up ~$43K (~145% gain), and that’s after a halving—during what’s supposed to be its strongest phase. To put that into context: During the 2020–2022 housing frenzy, a $250,000 single-family home would’ve appreciated to $367,500—a $117,500 gain (+47%) in under two years. In the 2000s bubble, that same house would've reached $560,000, a $310,000 gain (+124%). Meanwhile, you would have received $48,000 in rent over those same two years—on top of the price gains. And here’s the kicker: if it’s your principal residence, that appreciation is entirely tax-free. That’s the power of real estate: it appreciates, generates income, and can sidestep capital gains tax—all at once. Bitcoin might outperform in pure price swings, but it can’t earn rent and it sure isn’t tax-exempt. Results during a post halvening/real estate market adjustment: Bitcoin (4× gain) $775,000 Real Estate (2× gain, Primary) $800,000 (tax-free) After taxes — you will only net about 600k from Bitcoin.
Other SOV's are extremely risky compared to bitcoin, believe me or not Legendary Druckenmiller is the person I respect more when it comes to risk management "concentrated bets with high conviction" I'll say it again, I have to manage risks across time and space I quit my job in 2021, and within a few months I cashed out in April or May it's on this thread, over 25 bitcoin, in hindsight, that was a major mistake, but I do not regret it, as it was the correct decision at the time based on risk management At that time, bitcoin has crashed and trended down from $65k, to the low $40k level, it looked like the start of a bear market (it wasn't , yet) but, I do not have the power like a certain troll poster here who could change opinion based on what happens I have to answer to my family and to myself, if I didn't sell, I would have gone into deep debts borrow from credit cards, personal loans, not pay the BlockFi loan, I could not be in debt with no income, I had to sell Bear market came in 2022 which could last 2-3 years I mentioned several times on my Crypto Macro thread, had to survive that, if I did not care about risk management across time and space I would have yolo'ed most of our bitcoin into mstr and mstr options and would have made over 8 figures $ I manage risks based on market conditions, I needed a concentrated high conviction position of mostly bitcoin and spending cash for a few years during the bear market Market conditions right now indicate a bull market and I have gone out one the risk curves with positions on mstr call options, crcl call options, msty, and two memecoins I manage risks across time and space, which when I no longer considered our location to be safe in the US, flash mob thefts, homelessness, high costs of rent, I moved to Asia, The issue with not having to manage risks with the same tenacity that I do, is that most people are unable to see invisible risks, fooled by randomness, and survivorship biases that exist everywhere I'll give you an example of a risk in space (physical in nature, location is one), imagine a high earner couple with kids, has a few million $ of equity in their Malibu home, the fires hit, now they are displaced, still have to figure out how to rebuild (if they could), dealing with insurance, living with relatives, It's not like PG&E Wildfires did not happen a few years prior They should have been hitting those equity values through refinance or heloc every chance they got and put into the Mag 7 or S&P, that would have been much lower risk if they were obsessed with risk management, An example of risk in time, a hypothetical surgeon 47yo, high income, high net worth, happily married, with 3 kids eldest is 10yo, has a financial advisor named Nieber Ffadom (illegitimate daughter of B Madoff), but not a fraud, stocks and bonds portfolio doing well valued at $4M, their equity in their house another $2M... Plans to retire at 60yo and enjoy life with the family, but next year due to high stress high pressure of the job will experience a massive stroke that will require a long recovery and will never be able to go back to work... All the long term plans are altered and time, has a different quality going forward, with family... Bitcoin is not reckless, as it is extremely undervalued, the fair valuation is $10 Million today, but because 99% of the world's population has not figured it out, hence bitcoin is mispriced Bill Miller and Ricardo Salinas are billionaires with most of their net worth in bitcoin... they must know something about it