“Crypto currencies are not for everyone.”
We’ve heard that a lot lately. It is undoubtedly true.
Very few things are “for everyone”.
Pretty much just water and several Neil Diamond songs.
But the question remains “Who are crypto currencies for?” (And conversely, “who are they not for?”)
Financial advisors are constantly tasked with matching investments not just to clients’ financial goals, but to clients’ personalities. This second factor is less appreciated, but equally necessary.
(To paraphrase zen-golfer Ty Webb from the Caddyshack, “A good financial plan that cannot be followed, is not a good financial plan.”)
So which investing personalities are best suited to 1) enter the world of crypto currency investment, and 2) actually handle it.
MarketPsych Insights has insight into both of these factors via the Investing Personality Assessment tool.
(Hint: It’s a mix of financial open-mindness, optimism, long-term thinking, and emotional stability.)
Email us at firstname.lastname@example.org for more information or a free demo.
And hey… let’s be careful out there.
Frank Murtha, Ph.D.