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Dave Ramsey: Why Dogecoin and Bitcoin Are Stupid Investments
Posted on 4/20/21 at 10:38 pm
Posted on 4/20/21 at 10:38 pm
Dave Ramsey: Why Dogecoin and Bitcoin Are Stupid Investments
Caller: “How do I respond to my friends that are pressuring me into buying cryptocurrencies like Bitcoin and Dogecoin?”
Dave: “Well, I’ll tell ya, they have made a lot of money this year. A lot of money. But they also make a lot of money on cocaine, playing futures, betting on football games. But these are not investment strategies.”
His co-host believes that crypto is the future, but it’s not safe to jump in, yet. It’s still too high risk, and not fully adopted, yet.
Caller: “How do I respond to my friends that are pressuring me into buying cryptocurrencies like Bitcoin and Dogecoin?”
Dave: “Well, I’ll tell ya, they have made a lot of money this year. A lot of money. But they also make a lot of money on cocaine, playing futures, betting on football games. But these are not investment strategies.”
His co-host believes that crypto is the future, but it’s not safe to jump in, yet. It’s still too high risk, and not fully adopted, yet.
19
Posted on 4/20/21 at 10:58 pm to finchmeister08
I mean his whole target audience is about helping people make smart and safe financial decisions. Doge coin doesn’t fall into that
Posted on 4/20/21 at 11:05 pm to Navajo61490
Truth. Crypto is high risk/high reward speculation - not sound investment.
Posted on 4/20/21 at 11:20 pm to finchmeister08
Dave’s target audience is people that don’t realize if they make $50k a year, they shouldn’t be spending $75k a year on toys.
Dogecoin is not what those people need. Bitcoin can be argued that it would benefit those people in the long run but they need to fix their habits first.
Anyone not balls deep in CC debt or addicting to outspending their income shouldn’t be listening to this dude as he isn’t a wealth maximizer.
Dogecoin is not what those people need. Bitcoin can be argued that it would benefit those people in the long run but they need to fix their habits first.
Anyone not balls deep in CC debt or addicting to outspending their income shouldn’t be listening to this dude as he isn’t a wealth maximizer.
Posted on 4/20/21 at 11:28 pm to finchmeister08
Does he have callers asking about variance swaps yet?
Posted on 4/20/21 at 11:46 pm to finchmeister08
quote:
dodgecoin
fricking
Posted on 4/21/21 at 2:26 am to finchmeister08
Because they threaten his livlihood.
Posted on 4/21/21 at 7:16 am to Navajo61490
quote:
I mean his whole target audience is about helping people make smart and safe financial decisions. Doge coin doesn’t fall into that
This, although after all these years he still recommends ONLY investing in growth stock mutual funds which the vast majority of them get beat by low cost ETFs. Which he would respond with, "well mine have beat the market" - go search for a smartvestor pro in your area (and give us some kick backs), thx. Now mutual funds can certainly beat the market, but good luck finding that like 5-10% that do consistently over long periods of time.
Dave is absolutely great getting people out of debt realizing it's a behavioral problem, not a mathematical problem to solve. A lot of his other advice though isn't quite as sound. If he wanted to make it easy for people to invest, he wouldnt be telling them, so many with little to no investments to go give money to a pro and hopefully they can beat the market for you when he could just suggest low cost market tracking ETFs as a minimum starter point for people getting started out. The problem is he doesnt make money off that advice.
This post was edited on 4/21/21 at 7:25 am
Posted on 4/21/21 at 9:45 am to finchmeister08
quote:
His co-host believes that crypto is the future, but it’s not safe to jump in, yet. It’s still too high risk,
Playing the Market is HIGH RISK...
Say that to the one's that got on Bitcoin in 2011-2012...when it was around $1.00
quote:
Dave: “Well, I’ll tell ya, they have made a lot of money this year. A lot of money. But they also make a lot of money on cocaine, playing futures, betting on football games. But these are not investment strategies
Says the guy that tells people to invest in MF that earn +12% and retire a millionaire as though finding those MF is easy.
Posted on 4/21/21 at 9:57 am to bstew3006
the entire S&P is built atop of endless bailouts and yet they don't consider this "risky"
ok
ok
Posted on 4/21/21 at 10:03 am to finchmeister08
quote:
His co-host believes that crypto is the future
quote:
not safe to jump in
Posted on 4/21/21 at 10:11 am to finchmeister08
I'm a dumb fricking ape.
I've almost doubled my initial investment in crypto in gains.
I've almost doubled my initial investment in crypto in gains.
This post was edited on 4/21/21 at 10:16 am
Posted on 4/21/21 at 1:01 pm to bstew3006
quote:
Say that to the one's that got on Bitcoin in 2011-2012...when it was around $1.00
The majority of these people lost it all when Mt. Gox went down.
Posted on 4/21/21 at 1:05 pm to TomRollTideRitter
quote:
The majority of these people lost it all when Mt. Gox went down
no we fricking didnt
. sure some did, but not close the majority. Dont be a dumbass. 
Posted on 4/21/21 at 1:16 pm to rocket31
quote:
the entire S&P is built atop of endless bailouts and yet they don't consider this "risky"
This is why it’s hard to take you seriously.
Posted on 4/21/21 at 1:19 pm to slackster
?
how many trillions in bailouts from covid alone?
how many trillions in bailouts from covid alone?
Posted on 4/21/21 at 1:21 pm to finchmeister08
Can anyone find Dave's opinion on the internet back in the day?
Posted on 4/21/21 at 1:23 pm to lsu777
quote:
no we fricking didnt . sure some did, but not close the majority. Dont be a dumbass.
Posted on 4/21/21 at 4:17 pm to finchmeister08
I heard that yesterday and turned it up to hear his answer. He gave the short answer you quoted and then moved on. I was disappointed.
Posted on 4/21/21 at 4:21 pm to thunderbird1100
quote:
go search for a smartvestor pro in your area
Thanks for reminding me, I need to get a life insurance quote from Zander.com
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