Hey, I hope you’re doing well. In this video, I’m going to give you one simple investing tip that especially applies to crypto, that will probably save you millions of dollars, depending on how much you are investing. But I can tell you, it has saved me a lot of money, and I will continue to implement this principle in everything that I do when I invest in a specific asset class.
So, out here in Miami on the balcony up here, and kind of winding down the day, I was thinking, “Hey, what is the one thing I actually own?” A condo up in that building. It’s like one of the top floors up in that building, and I put my mom in there. I moved my mom down here from Columbus, Ohio, to get her out of Columbus, Ohio, and to start a new career. And how I was able to do that was obviously working really hard, making smart investments. I’ve been working really hard for five years, and I implemented this simple investment tip that I’m about to talk about.
And I bought that condo at pretty much the top of the market and the crypto market, late last year, or I guess it’s 2021 now because we’re enjoying 23. But this simple tip is anytime you’re making a speculative investment, which it’s hard to kind of give a definition of a speculative investment, but I will say that it is an investment that has not been proven for over 20 years. Okay, that’s kind of how I will simplify it. But speculative investments typically mean that they’re higher risk. So you’ve got to be able to identify when it is a high-risk investment.
You know, I also run trading algorithms that we will build, and it’ll enter and exit trades for us. I also invest heavily into crypto, even though I know it, I still understand that it’s a speculative investment. So those are two examples of speculative investments. And the principle that I will implement on every speculative investment that I make is I want to recoup my principal as fast as possible. And what that allows you to do, and principle is just the amount of money that you put into the investment or the trade, and what that allows you to do is that allows you to technically never lose money if your investment doubles. So right when my investment would double, I would take out my principal, and I would be playing with house money…
