Nassim Nicholas Taleb commented on cryptocurrencies, not bullish.
Nassim Nicholas Taleb, author of the best-selling book Black Swan, said in a Tweet on Wednesday that technical analysis of bitcoin and other crypto assets is a "solution to reduce anxiety," much like astrology or modern portfolio theory.
Taleb noted that there is no evidence that concepts such as "trend line", "Fibonacci" and "Shooting Star" in cryptocurrency technical analysis can predict anything in the market.
Taleb had been supportive of Bitcoin as a promising new currency because there was no government control, but then his attitude reversed and he began to bash the cryptocurrency. In an interview last April, he called Bitcoin a public Ponzi scheme, and in a paper last June, he also said that bitcoin's value was completely zero, and there was no evidence that blockchain was a useful technology.
It is worth mentioning that after Bitcoin fell below $40,000 last month, Taleb tweeted a merciless mockery of Bitcoin investors, writing: "Tonight, some of Bitcoin's investors reminded me of a bankrupt gambler who stood outside the casino in the middle of the night and realized he had lost his car keys. ”
Public information shows that Nassim Nicholas Taleb, most of the time, is a wanderer, meditating in cafes in various corners of the globe. He spent his early years in business and is currently a Distinguished Professor at New York University. He has traded a variety of derivatives in New York and London, and has worked as an independent trader in a business hall in Chicago. In February 2001, he officially became a member of the Strategic Hall of Fame for Derivatives Trading. His works include Fooled by Randomness and Black Swan, which has been on the New York Times bestseller list for more than a year and published in 31 languages, making it an intellectual, social and cultural classic. Taleb's latest book is The Wisdom of Random Survival, originally titled The Bed of Procrustes.
Taleb's two super-bestsellers, "The Fool Who Walks Randomly" and "The Black Swan," have become must-read classics for Wall Street investors. Emmanuel Delman, author of Wide Guest Life, is to the point: "A book of great reflection and unique perspectives, full of Calvino's fabled stories, tells you that attempts to reduce the real world to black and white are bound to fail." ”
Taleb said he favors an investment ratio of 80-90 percent zero-risk investment and 10-20 percent high-risk investment, abandoning inefficient, medium-yield investments. Because zero-risk investing allows you to preserve your value, while high-risk investing can use black swan events to make you "rich overnight".
Do you agree with Taleb?
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