The #CryptoSummer Is Canceled (for now)

The collective "oof" you heard this morning? It was the sound of crypto skeptics opening Twitter to gawk over the virtual currencies' latest losses.

And also to pile-on Matt Damon:

 

The Times has already written up TerraUSD's "implosion" (whose popular Luna token value remains in free fall) and tech news site The Verge dubs fintech in its "flop era." And from a Vice headline: "'It's a Bloodbath': The Crypto Crash Is Real."

 

 

With more than half of Bitcon’s value gutted, memestonks tanking (RIP Dogecoin), and federal regulation likely stepping in to protect investors, it's a good time to revisit easy and early principles of a good investment strategy. Here’s a best of list:

  1. Diversify. 
  2. For your portfolio, you could mix in stocks, bonds, and mutual funds, from a variety of new or more established industries, sectors and companies. AKA, diversifying. Investing heavily in 1 single stock means if that stock gets wiped out, you’ve got no other investments to absorb the shock. It’s all gone. 
  3. And louder, for those in the back: DIVERSIFY YOUR INVESTMENT PORTFOLIO.

Or don’t:

 


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