Quote from: Naida_BR on January 03, 2019, 11:19:58 AM

Quote from: deisik on December 31, 2018, 10:41:41 AM

As the famous Warren Buffett once ironically observed, you only find out who is swimming naked when the tide goes out. Now that the tide is gone, it's time to check what's left and pick it up

Many trading folks, me included, like quoting him, whether spot on or completely beside the point. But the talking crowd doesn't really care about the real insights and nuggets of wisdom this man shares, other than what is right at the surface. And there's always more to his words and sayings than the majority sees. In this post I'm going to show you what it means in practice and how to make use of it

In this particular case, for example, the market crash has shown which coins are going to kick the bucket and which have good chances to survive. But these are extreme cases, while there's a lot of space in between as well as room for action and improvement. Basically, falling prices let you clearly see what assets are performing better and which are not worth your time. Bear market is kind of an eye-opener for you and reality check for your investment decisions

And this is the whole thing. Bear market allows you not only to see where your investments are going but also lets you easily unwind them by selling poorly performing coins (if we talk about cryptos) and then proceed to buy more resilient coins at half the price as the market goes downhill. That's what most people overlook in bear markets and so fail to take advantage of. In a nutshell, it is a perfect time to change sails or even the ship itself, tide or no tide

This describes totally and in very detail the whole 2018. The year that passed was a corrective year where we get rid of coins that are not worth being in the crypto market. A bear market is a good indicator that shows which projects are performing well and which are not. I agree with the quote of Warren Buffett but I don't agree with his insights for the cryptocurrency market.

Maybe, his insight on cryptocurrencies is more like outsight (or overlook). Regardless, he was making himself clear on crypto as early as 2014 (if I'm not mistaken) and then, given the circumstances and even more so for their consequences (the Mt. Gox affair, to give you a lead), his words might have been perfectly justified. And he may regret them now, and he can't possibly accept being wrong as that would question his other words. Other than that, Warren is also notorious for being very cautious about giving assessments on the future behavior of any asset out there

His favorite phrase is, "I don't know"