Everyone was laughing on Ray Diallo when he said his famous phrase "cash is trash" on 2019 and they even laughed more when his hedge fund tanked 30% under water on early 2020. guess what, US stock markets are bullish again and on a stunning V-shaped recovery and Gold recently hit all time high and bitcoin of course in its way to break new price record. So, who's laughing now!. he was damn right.
What does cash being trash has to do with stocks being bullish and price of gold going high? People are now buying stocks and gold with cash, so how is he "damn right"?
I bet you are still using cash despite calling it a trash and supporting his statement. So you are just being a little hypocrite over here.
Stop calling it a trash. We still need fiat/cash money to survive!
he said its trash because he put all of his money on his investment and maybe he use other form of payment not related to cash . stocks are falling once again , so whos laughing now ? lol . he can laugh if he already sold his stock before the crash happen but he wont sell for cash because he said its trash , maybe he will only trade it with other assets like crypto or gold . i find that situation hard , not all times we can trade with other assets for something , ill always find the need for cash