I'm more than a little concerned that the recent election is going to pull a lot more people into investing in cryptocurrency -- most of whom probably are nowhere near as savvy as they need to be to avoid getting fleeced by scammers.
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I'm more than a little concerned that the recent election is going to pull a lot more people into investing in cryptocurrency -- most of whom probably are nowhere near as savvy as they need to be to avoid getting fleeced by scammers. I hear constantly from people who poured their savings or kids' college fund into crypto, only to see it all stolen when they clicked the wrong button or link.
You know what the typical answer is from the feds? We're drowning here. Just too many cases. These thefts are often $500K or more, and the frequency of them is rapidly increasing the monetary loss thresholds that would normally get law enforcement's attention.
Also, tons of people are now pouring money into the market, which is already vastly overpriced by almost any measure. Here are some sage words from a WSJ story today about how "investors are betting on a market melt-up:"
"One measure closely tracked by investors, the equity risk premium—or the gap between the S&P 500’s earnings yield and that of 10-year Treasurys—shrank close to zero, the lowest level since 2002, according to Dow Jones Market Data. That means the reward for owning stocks over bonds is dwindling."
“The market is awfully expensive to have a melt-up,” said Rob Arnott, the founder and chairman of Research Affiliates."
https://www.wsj.com/finance/investing/investors-are-betting-on-a-market-melt-up-3a007dd4
