Site icon Banyan Hill Publishing

Has Warren Buffett Finally Lost His Mind?

Warren Buffett loves to hate crypto

As I write this, the stock market is on pace for its largest single-day drop since the 2020 COVID crash.

It’s times like these that investors often turn to Berkshire Hathaway CEO Warren Buffett for advice.

But, as I’m about to explain, Buffett doesn’t know everything about investing.

And he definitely doesn’t understand bitcoin and other cryptos.

In 2014, he called bitcoin a “mirage” and told investors to “stay away.”

Over the next three years, the crypto skyrocketed over 3,000%.

Then in 2018, he called bitcoin “rat poison.”

Three years later, the crypto was up over 600%.

Now Buffett may have made his most ignorant statement yet.

On Saturday he said: “If you told me you own all of the bitcoin in the world and you offered it to me for $25, I wouldn’t take it.”

For the record, bitcoin’s market cap is $692 billion — almost the same size as Buffett’s Berkshire Hathaway.

And he wouldn’t buy it all for just $25?

Warren Buffett has finally lost his mind.

Don’t Bet on Buffett

Buffett loves to hate bitcoin.

But he never mentions its incredible track record.

When Ian King launched Next Wave Crypto Fortunes in 2018, bitcoin was one of his first recommendations.

Since then, the crypto has gained 255%.

Over the same time period, Berkshire Hathaway is only up 57%.

Bitcoin vs. Berkshire Hathaway

And those gains are small compared to some of Ian’s closed positions.

Those include:

That’s a lot of winning!

On the other hand, Berkshire Hathaway barely outperformed the S&P 500 Index over the same time frame.

S&P 500 vs. Berkshire Hathaway

If Buffett had added cryptos such as bitcoin and the “Next Gen Coin” to his portfolio, his company’s shareholders would be a lot happier.

Everyone Has the Chance to Make a Crypto Fortune

I can kind of see why Buffett hates cryptos.

After all, he has 80 years of investing experience and he can barely beat the market.

Meanwhile, anyone can get Ian’s three new reports and have the chance to make a fortune.

The fact is: With crypto gains like 633% … 1,934% … and 18,325%…

Boring investment firms like Berkshire Hathaway are obsolete.

Regards,

Jay Goldberg

Assistant Managing Editor, Banyan Hill Publishing

 

Morning Movers


From open till noon Eastern time.

 

Silicon Motion Technology Corp. (Nasdaq: SIMO) designs, develops and markets semiconductor solutions for solid-state storage devices. The stock jumped 18% on the news that it is being acquired by chipmaker MaxLinear for $3.8 billion.

 

AxoGen Inc. (Nasdaq: AXGN) develops and markets surgical solutions for physical damage or transection to peripheral nerves. The stock rose 18% after the company beat first-quarter estimates and reported positive data from the Phase 3 trial of its Avance nerve graft treatment.

 

Intercept Pharmaceuticals Inc. (Nasdaq: ICPT) focuses on the development and commercialization of therapeutics to treat progressive nonviral liver diseases. The stock is up 16% after it sold the international rights to its liver disease treatment, Ocaliva, to Advanz Pharma for up to $450 million.

 

Hudson Technologies Inc. (Nasdaq: HDSN) is a refrigerant services company that provides refrigerants and repair solutions to the refrigeration industry. The stock climbed 16% after the company reported strong first-quarter results that were driven by increases in volumes and selling prices for certain refrigerants.

 

DHI Group Inc. (NYSE: DHX) provides career marketplaces and hiring platforms that connect tech-focused job seekers with employers. It is up 15% after the company reported good first-quarter results that were driven by higher demand for its services across various platforms from employers.

 

Udemy Inc. (Nasdaq: UDMY) operates a marketplace platform for teaching and learning various skills. The stock is up 14% after the company managed to deliver better-than-expected earnings and revenues for the first quarter.

 

CommScope Holding Company Inc. (Nasdaq: COMM) provides infrastructure solutions for communications and entertainment networks. It is up 11% after it reported great first-quarter results thanks to strong sales in the Connectivity and Cable Solutions and Outdoor Wireless Networks segments.

 

SelectQuote Inc. (NYSE: SLQT) operates a technology-enabled, direct-to-consumer distribution platform that sells a range of insurance policies from various insurance carriers. The stock is up 10% after the company managed to beat first-quarter analyst estimates by a wide margin.

 

Mirum Pharmaceuticals Inc. (Nasdaq: MIRM) focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. It is up 10% after the company reported first-quarter results showing rising revenue from its treatment for pruritus associated with Alagille syndrome.

 

Argenx SE (Nasdaq: ARGX) develops various therapies for the treatment of autoimmune diseases. The stock is up 9% after the company’s first-quarter results came in better than expected thanks to strong sales of its recently approved drug for myasthenia gravis.