Profile PictureWolf Lopez

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Happy Saturday morning!

I've been reading Howard Marks's book "The Most Important Thing" (Warren Buffet recommends reading this book - it's that good).

In the book, Howard talks about first-level and second-level thinking.

It basically means one has to think one step ahead of everyone else to get above-average investing returns.

Seeing the market react to Ethereum's proof of stake upgrade by selling is bullish even though it may sound counter-intuitive...

First-level thinking (below average investing results): Ethereum moved to proof of stake but nothing changed in short term + macro is bearish = sell

Second-level thinking (above average investing results): This is the starting point for Ethereum's upgrades. The proof of stake upgrade allows Ethereum to solve scaling, privacy, and security for "regular" users in the next upgrades. It's going to take a while before the world realizes how incredible it is.

This is how one gets an "edge" over the markets.

One has to think deeper and see the long-term bird's eye view.

"In the short term the market is a voting machine, but in the long term, the market is a weighing machine. - Benjamin Graham

Don't get sucked in the short-term noise and people "voting" with their wallets.

Patiently dollar-cost average into the blue chips you believe in and understand and build a diversified portfolio that manages risk.

The prices are already 60%-90% down from the all-time high so the margin of safety already looks great.

In the long-term, the projects with the most weight (user adoption) will skyrocket as the "masses" realize the true value of the projects.

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See you on the inside!


Disclaimer, which also applies to comments: This post and all other posts are not investment advice and I am not an investment advisor. I am not an advisor of any kind (tax/financial/investments…). I am only stating my possibly biased, incomplete opinions. I am usually invested in the projects / assets at the time of writing so there can be conflict of interest. Errors and omissions excepted. I buy and sell assets whenever I choose to do so. When there is hype or awareness around any asset or project, I often sell and take profits without any notice because the risk / reward ratio gets worse. I may sell or buy something at any other point as well for any reason. Since this market is so volatile and evolves so quickly, my opinion on any asset or project can change within minutes without notice. What I post are not recommendations, always do your own research. Do not buy anything because I mention it! Please consult a professional financial/investment advisor before making investment decisions. Investing in crypto assets or assets in general poses an extreme risk of complete loss of funds! Manage your risk according to your own personal situation and risk profile.


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