How To Not Die Penniless

If we learned anything from history, it's that even the brightest people in the world make the same mistakes repeatedly.

Dear Fellow Expat:

“It's hard not to buy more Bitcoin.”

That's the sentiment of many friends, a few who work for some of New York's most prestigious financial companies.

They've held Bitcoin for years. Me too.

I've owned it for a long time as well—a small but surprisingly profitable endeavor since 2017.

But with prices sitting at all-time highs, on the verge of $100,000… it's hard not to buy more.

Oh… man, I want more!

And I know better.

I want to sell some of my best long-term positions - pipeline companies, firms with wide economic moats, community banks - REAL ASSETS.

But I know three things way too well: Behavioral finance, history, and the story of Sir Isaac Newton.

And those three things have given me restraint.

Let me explain.

Don't Do It

Psychology is simple: Humans make bad mistakes with money.

It doesn't matter if you have multiple degrees studying the history of bad decisions and financial crises… human beings make the same mistakes repeatedly.

We think that this time is different.

Ev…