EPISODE #155: Educate Yourself and Learn How to Change Your Mind - Peso Smart PH - a podcast by Emmanuel Del Mundo

I've been a big fan of Warren Buffett for the longest time and I still am to this day. My investing habits, strategy and goals was and is modeled around his principles that has been battle tested all throughout the years/decades. He's one of the most, if not the most successful investor in the history of the world for a reason. Don't get me wrong, his ways are still applicable up to this day and will be a very viable investing strategy for the years and decades to come. However, we can't treat everything he say as "gospel" as that will prevent us from seeing the bigger picture.

Warren and his business partner, Charlie Munger, are not big fans of the new trading and investing craze, cryptocurrency. They said all sorts of stuff over the years and to sum it up, basically what they're saying is that crypto is a sham or scam. So as a big fan of them, I closed my mind from the idea of giving crypto a chance. But the good thing is, my brother is a bit of a risk taker himself and he got me involved in the crypto space 3 years ago. And ironically, I was in the crypto space even before I started investing in stocks. I bought my first few cryptos $TRX, $XRP and $ADA back in February 2018 and held it until this year. I started investing in PH stocks back in December 2018.

However, I only got serious with crypto from the beginning of last month, April. I read everything that I can search online about the topic along with the blockchain technology. I invested and traded on eToro and Binance and learned a ton of lessons about the space. I also watched countless videos about the topic to educate myself. After all this work, I found out that Warren and Charlie's principles from Ben Graham can also be applied to crypto projects. Although not everything's applicable, finding a good project, buying and holding it can also be a viable winning strategy in the crypto market. And I believe that cryptocurrency is here to stay and it has a place in our future moving forward.

But of course, the crypto market is still highly speculative at this stage and it's not regulated by any entity so the market is ultra-volatile. Make sure you understand how blockchain, crypto projects and cryptocurrencies work before you put your hard earned money into it. As a lot of people in the space always say, "invest money that you're willing to lose".

I hope that everything I said in this video and what I wrote above made sense. The point that I want to make is that we can always change our minds with the proper education and guidance. We can always play it safe and stick to the thing that we're used to but it won't hurt to take on some risk, especially when we're young, and learn something new.

P.S. I'm still a big fan of stock investing and will continue to invest in the PH market. I just added crypto to my portfolio to add some spice to it. 😁

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Further episodes of Peso Smart PH: Investing in the Philippines

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