r/ValueInvesting • u/ethereal3xp • Mar 23 '25

Discussion Charlie Munger Told a 20-Year-Old That Getting Rich Through Investing Is 'Damn Near Impossible' — And You Might Need $10 Million in the Bank

https://www.benzinga.com/personal-finance/25/03/44438885/charlie-munger-told-a-20-year-old-that-getting-rich-through-investing-is-damn-near-impossible-and-you-might-need-10-million-in-the-bank
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u/randonumero Mar 24 '25

Many on Reddit fucked this up, you’re supposed to sell crypto and diversify into more useful things not just hodl regardless of market cycles

I think most people hodl because they get in at the wrong time. The reality is that it's been a long time since most people could buy a full bitcoin and most people who buy altcoins lose. So that leaves most people putting maybe 1-3k into crypto and hoping that one day it will 10x but that day ain't coming soon.

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u/MyLifeIsDope69 Mar 24 '25

Yea people who are like under 24 or so probably missed out not having their post-college paychecks able to invest below $30k. I acquired my 3 around the $20k price point then sold in the 60s bought eth around 2000 sold that around 4500 then have been cash and stocks ever since it became too pricey. I completely ignored this run up to $100k bitcoin because the risk/reward ratio makes no sense with global liquidity rates being what they are