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New Bitcoin ETFs: Should Bogleheads Take The Plunge?
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- เผยแพร่เมื่อ 11 ม.ค. 2024
- With the launch of Bitcoin Spot ETFs, investors now have a safe, low-cost way to own Bitcoin. In this video, we'll look at some examples of these new ETFs, and then I'll make the strongest case I can in favor of adding Bitcoin to an asset allocation portfolio.
Then I'll share how I'm approaching Bitcoin and why.
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Video Resources
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SEC Statement: www.sec.gov/ne...
FBTC: digital.fideli...
IBIT: www.ishares.co...
ARKB: ark-funds.com/...
WSJ Article: www.wsj.com/li...
Bitcoin Market Cap: coinmarketcap....
Bitcoin Correlation: blogs.cfainsti...
Bitcoin Performance Map: / 1
Crytpo Crime Report: www.pensamient...
#bitcoin #bitcoinetf #robberger
ABOUT ME
While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I'm the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money.
I'm also the author of Retire Before Mom and Dad--The Simple Numbers Behind a Lifetime of Financial Freedom (amzn.to/3by10EE)
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.
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Peter Lynch used to write about folks who would do extensive research before buying a refrigerator, but then buy a financial product they knew nothing about.
And we can see what camp Rob is in. 🙄
Reminds me of people who believe the crooks who claim to have accurately predicted bull and bear markets. All you have to do is send them $50 to become wealthy!
In a RothIRA, if BTC goes up (very high) and you sell the ETF to spend on the S&P 500, wouldnt that make sense? Considering that a RothIRA contribution limits and Im young, I see no reason to not speculate
FYI. Fidelity is waving the fee until Aug. 2024.
I just started my HSA this year and I was actually considering going 95 percent S&P and 5 percent BTC etf
You know how many folks out there think FTC approval of an investment vehicle means it’s a good investment?
Unfortunate for those many folks
I appreciate the analysis here. Objective arguments laid out, yet you still think for yourself & wont just follow the crowds. I am 100% with you on that. I feel like I’ve heard every argument in favor of BTC in the past 6 years especially (first became super aware of it in 2018 & had long-term holders trying to talk me into it), and I still feel it has no value. I’ve never had a reason to own it & wouldn’t benefit from owning it either. Not true of any legitimate asset or blue chip productive company. I prefer to have nothing to do with BTC. Warren Buffett among others is also taking our approach. Doubt he’d pass up free money if it’s really as easy as BTC Bros want us to believe.
It's like going to Vegas, baby!
As a Boglehead, when I want to get grifted I prefer to cut out the middlemen, burn my money instead, and save on management fees.
Damn right. Don’t buy into this bogus scam.
But then how would Kathy Wood make her fortune? Ark Invest is like watching the early phase of a train wreck
I thought you were going to say cut out the middleman, buy BTC on a shady crypto exchange, then then lose it to hackers in a phishing scam like everyone else.
Make a NFT of it, it will sell like hotcakes 🤪
ETFs are a scam, not your keys, not your coins!
Ok orange piller, back to parroting dumb takes on bt
I’m sure your 0.0001btc are safe in your ledger
If Vanguard is serious about "focusing on asset classes" then they should also dump ESG-focused ETFs.
While I've never been a proponent of so called socially responsible investments, I appreciate the argument that they may have less future liability for being required to pay for remediation of past destructive business and environmental practices. Businesses that score higher on an ESG ranking presumably also produce some valuable goods or services. Crypto is not a business, produces nothing and is fundamentally little more than a way to make a speculative bet on the future demand for something that is neither a product or service. It's another dutch tulip bubble, perhaps a bit worse. A crypto token is little more than an electronic book entry. If this entry into financial exchanges turns out to be the pinnacle of speculative hype for crypto, I would expect a rise followed by the crash and burn stage. I applaud Vanguard for eschewing short term gains in favor of long term stability. I support Vanguard's decision to not participate in the crypto craze.
Agreed. But that would not be PC, so it probably won’t happen.
That's a completely different animal.
@@TonyCox1351 I "immediately went to ESG" because it's a glaring inconsistency in Vanguard's modus operandi. The ESG movement's goals contradict the goal of maximizing profits, which is the only duty a corporation has to its shareholders. By extension, this extends to ESG-themed funds as well. In the context of finance, it's antithetical to fiduciary duty -- if a fund's purpose is NOT to protect and grow the wealth of its customers, it is a fundamentally unethical fund. If there was an ETF that takes all of its customers' money and tries to double it at Blackjack tables at a dodgy Las Vegas casino, I would object to it. If there was an ETF that takes all of its customers' money and donates it to charities that feed starving Romanians, I would still object to it. The fact ESG is politicized by other individuals (whom I have no control over, because I am not other people) is beneath my concern: the core objection I have with it is that it is a deeply unethical phenomenon. It isn't something a company like Vanguard -- which was built, thanks to Mr. Bogle, on a reputation of NOT playing fast and loose with its customers' money like some other brokerages of the past were apt to do -- should be advocating or marketing. If you want to speculate your money on ESG-themed funds or lottery tickets or whatever, that's your business as a consenting adult, but a company with an established reputation of espousing principles of common-sense fiduciary responsibility should reject ESG-themed funds for the same reasons it already rejects crypto funds. To NOT abide by principles, thus carving a special exception for ESG, is the only thing I am seeing here that is politically-motivated.
Vanguard's large cap ESG funds have outperformed the VOO S&P 500 fund for the past five years, so your disdain doesn't have a valid basis.
I wish people would stop using the word "INVESTING" with respect to BTC. One doesn't invest in crypto, one speculates in it.
Agreed. Crypto is simply a decentralized ponzi scheme, there's NOTHING of value backing it. It pays no dividends, interest, or rental income. It doesn't give you ownership of anything.
Thank you. One of the few voices of reason in these comments.
Agree 💯
We often forget that we are also speculating on stocks and the strength (or lack thereof) of fiat currencies.
Or you could buy the asset your self.
I don't agree institutions like Vanguard should be making judgements on investing "sense" of products - they're just providers, it's up to individuals to figure out what they want to invest in and to be able to choose freely.
If Vanguard does not want the business it is easy to set up an account with another broker.
Or don’t let you invest in oil, pharma, gambling, tobacco, alcohol… on and on… silly
Vanguard won’t even allow you to invest in them. I get it, a private company can do whatever they want but a fully grown adult should be able to buy any ETF they want. High risk high reward
Just to be clear, “high risk high reward” is not an accurate representation of high risk investments. The phrase we should be throwing around is something more like “high risk high reward or high losses”
@@TonyCox1351
Well said, there's no middle ground with Btc.
@@kenkebbekus6041for me to admit I’m wrong, all the “high risk” investments that have lost their value over the last 100 years - GameStop, Bed Bath and Beyond, Dogecoin, etc - would need to reap high rewards. If you truly believe that just because something is high risk means you’ll get high reward then you’re riding the short bus
So you want to spam this 'I'm a fully grown adult adult' stuff but are incapable of understanding a company is allowed to make decisions that don't cater to you at all times? Do you need a handler?
@@kenkebbekus6041 For me to admit that "high risk equals high reward" i would need to see Gamestop, Bed Bath and Beyond, and Dogecoin all turn around, because those were high risk investments that did not reward. In fact, I would venture to guess that the vast majority of high risk investments do not reward. Because if high risk investments consistently resulted in high returns, then they wouldnt be very high risk would they?
Thank you Rob, you are the island of sanity and wisdom amidst an ocean of conflicting information, FOMO and charletons.
BTC is traceable. You will need to be a dumb criminal to use it for illicit activities. I suggest you do more research Rob. Much respect.
Rob is clueless. Most boomers will never get it. Too little neuroplasticity left
It’s actually very commonly used for criminal activities. YOU are the one who needs to research it. Not hard to find academic papers on the topic. Look up some of John Griffin’s research at UT Austin. Having a wallet address but quite literally no way to figure out who the wallet belongs to does NOT deter criminals.
Larry Fink calls BTC a flight to quality. Not sure if your video counters why he would say that.
Added FBTC to my portfolio 😊
You're down 6% today.
Going to add it to mine in a few days once it bottoms around $35. Just going to put 1% to try and capture some up run for the April Halving!
@@STF68 So, counting on bigger fool theory? Good luck
@@johnnyfive1412and he’s up like a mfer today.
Grayscale never had a futures-based ETF. People are clearly still very new to this and haven't done their research. We are still very, very, early.
Yes, not the best way to start the video. He didn't do any homework on GBTC.
That’s a big call not investing at least 1% in BTC 🤔 I think everyone should get off zero BTC……2 months on and the BTC ETFs are the most successful ETFs ever in just 2 months 👏👍😂
They will buy later at the price they deserve
What would Rob do?
Always great content, thanks!
Vanguard: Thank you for confirming my trust in the company founded by JB.
Same might leave Fidelity for this =\
@@nixic_ Fidelity has had crypto assets available for several years now. But sure, you should leave due to a product you won't use. Best of luck to you.
@@nixic_🤡
But you can buy higher beta BTC miners from Vanguard.
@@FIPSYCH86 then he is going to leave vanguard and will invest in gold from Costco
Am a fan of your channel Rob - thanks!
On this topic, check out Lyn Alden's take (in her recent book "Broken Money", or on any one of the many podcasts she's done on this topic in recent years). One of the best arguments I've heard in favor of including BTC in a balanced portfolio, and best explanation of the value proposition for this relatively new asset class (in part, because fiat currencies are likely to also be volatile, and backed in a way that most of us are increasingly concerned about - likely to get worse, not better over coming years).
Thanks Rob. I appreciate your perspective on this. Have a great day.
Your videos are great thank you
Thank you for making this informative video!
How can you say that BTC is ONLY used for speculation and criminal activity? (14:31) Absolutely false and narrow minded. BTC is being used in other countries to protect citizens from hyper-inflation of their fiat. Rob, your content is usually good but this makes you sound out of touch with modern and future financial markets.
Examples?
@@RealMcLovinVenezuela, Argentina, Turkey, Iran, and Zimbabwe.
Thank you, Rob! I do NOT invest in currencies or commondities. I am only interested in owning a share of commerce and industry.
Fidelity is waving their .25% fee until August.
And then the GBTC ETF has a 1.50%. I bets that’s a major reason why there was a sell off.
I think a small investment say maybe 10k in an ETF hold for the long haul. Rob I agree and understand your convictions and they make sense. The US Dollar is also used for criminal activity. love your videos!
Great information, thank you! Your perspective is incredibly valuable!
My HSA is with Fidelity. Maybe I'd take a flyer on this with a small percentage of my invested long term dollars.
Please don't
Good luck
I like investing in a 3-fund portfolio because my dollars are going into companies that will grow. I do not like to invest in crypto, gold, or beanie babies because then all im doing is hoping that the next guy will want to buy it for more.
Even if i think you are right in a way, isn't the value of a companys share also based on the hopes in the future? In a way also speculation then?
And on the other hand: why not profit from others who want to pay more for BTC than we think it's worth?
And Gold? People say it kept the same value since thousands of years : you can still buy a good suit for one ounce. Well, I guess in the moment you could buy 1 to 4 . So it seems to be at least a good store of value (if you keep the gold and don't buy the suit ;)
Ooooo, Well Said! 👍
It is going to be used in the future
Can you also tell me the lottery numbers for next week?
Block chain sure. BTC, I would wager only on illicit goods as it is at the moment
On another note. I have most of my retirement funds in Traditional and Roth IRA's. I am having difficulty in deciding how to take distributions. How to use the gains, the dividends etc? How do i draw from those accounts to make a paycheck? Do you have a suggestion for a good TH-cam episode of yours or other channel that i can watch to figure it out?
"It's not designed to be a medium of exchange, it wouldn't work at scale as a medium of exchange..."
good Lord *thank you* for that. The only reason I would speculate in BC is that the price may continue to get bid up. By folks who *think* it will have some practical purpose in the future, and are willing to pay large amounts of actual currency.
It's had about 15 years now to find a purpose other than pure speculation and crime facilitation.
Lmao can you be anymore clueless. NPCs think new forms of money monetize overnight. Fastest asset to reach 1 trillion and the best performing asset of the past 15yrs and you still don’t see it. NGMI
BTC to the moon !!!!!
In El Salvador, its a currency. You can move there and live on it.
In Lebanon, it’s a currency. You can use it to store your wealth from the local currency that is being debased by the government.
Is there anyone still there?
@@METVWETV Another comment from you without elaborating or making a good argument. Im starting to notice a theme form you lol.
Thanks Rob you have given good perspective, as usual
well ya, if youve ignored the best performing asset for the last decade you might as well keep being ignorant. Those who are already wealthy need not learn anything new.
This boat sailed long ago. Now there are miseries in the future.
Great information, Rob. Happy New Year and keep it coming!
I think money is also use to pay ransom, so for me all are the same.
In the 1980s and early 90s , people were saying ‘what could we use this internet thing for? It does nothing ‘
Buying crypto is just speculation with a hope that later on some buyer will be even more foolish than you.
Excellent Rob... Thanks!
Rob: I will give you the BEST case why you would want to own some crypto!!!
Rob: Nah, I ain't buying this speculative, nonsensical thing...
I love you Rob! Call it like it is!
Tell it like it is, Rob! Keep these folks from investing in the best performing asset in the history of mankind. The BTC spot ETF’s are the fastest growing in history as well.
Kathy Wood, all you had to say, 😂😂😂
😂😢😮😅
Thank you Rob!
I've gotten two calls this week from an advisor at my brokerage firm, telling me he has some "interesting" investments to discuss. I suspect it's based on these new ETFs.
Charlie Munger called it rat poison!
What does he know?
He lived to 100 and died a Billionaire,
I trust Rap Master G for all my financial advice!
Besides, this is much simpler,
My cousins friend Joe or John...IDK, he said his uncle made like $600K rolling with Crypto...
I already picked out my next ride when I win all this money from my $50 Investment!
What a weird stance for vanguard when its so heavily invested in blackrock and visa versa.
Some of the crypto miners have their stocks listed on the exchanges. It would be very interesting to analyze them.
Great video as always, thank you Rob.
You just forgot the point of BTC not being able by anyone to be more printed out from thin air or nothing at all.
That’s not necessarily an advantage
NO! NO! NO! Charlie Munger said it best: RAT POISON! Also read Easy Money by Ben McKenzie. So you keep saying "very inexpensive." 100% loss of your money is still a 100% loss, regardless of the original investment. Yes to Vanguard's stance.
Absolutely.
Never going to put money in this hype train.
Wise.
Its not right that Vanguard doesn't let their users buy these new elf's. People should have the option to buy them if they want.
Yeah well most governments don’t let you use narcotics. There is a good reason for that also
Well you can open an investment company and make your own rules.
Vanguard sucks, move your money to Fidelity or Schwab and DIY.
Vanguard is Mircostrategy biggest investor. Hmmm....I wonder why?
Crime aspect bothers me.
Thank God there's no major crimes done with regular dollars. (yes, sarcasm)
11:53 ahh there it is.
Ginsler voted in favor and he is NOT republican.
Thanks for the correction.
Everything I’ve heard crypto bros say are benefits of btc tend to be based on a limited understanding of the monetary system , or are simply non existent once you peel under the hood.
And even if it were all true , it still wouldn’t necessarily make it a good investment.
Hope it works out for everyone , but it’s a hard pass for me.
Smart and educational as always Rob.
Do Boglehead investors also enjoy Bogle wine?
I drink it every Sunday.
😂
Well said Rob!, I along with many , value your timely opinion and rationale. That being said, there are special tax complications with investing in crypto , including the 2 day old crop of ETF's. Wondering if GBTC side steps that, due to their futures angle?? FOMO is is a factor!
The devil you know is better than you the devil you don't . As s loyal Bergerite , I am a bit disappointed Rob did not call a turd a turd.
From Day One, the Spot BTC ETFs have gone down in price. I'll speculate on BTC when the price stops crashing every day.
Lmao
Hfsp
How’s this theory working out? BTC spot ETF’s have been the fasted growing ETF in the history of ETF’s…
I have the same sentiment that I don't invest in products that don't generate incomes.
I assumed this would be a 10 second video with a sign... NO!
Doing right by your customers is allowing them the choice to make their own investing decisions not restricting what you can or can not invest in
Listen. There are plenty of places you can go gamble your money away. Vanguard protecting their investors doesn’t impede anyone’s ability squander wealth.
BTC is an official currency of el salvador
What Warren would do ?? Thought so ….
I feel the same way about BC ETFs as I do about buying lottery tickets. Neither are investing.
Better gamble with PLTR
Let me guess, it doesn’t pay dividends? Better take greater fool theory right to the end of the logic
How does something with a fixed supply pay a dividend?
@blexaarron
I focused more on the last part, "The Greater fool."
Back in the '80's, the Real Estate Market was so hot, You "Simply couldn't lose!"
No matter what you paid for a home, there was ALWAYS A BIGGER FOOL WHO WOULD OFFER YOU MORE!.....
Then, one day,
There wasn't....
Look back on this video 5 years from now and weep because you only invested 5% in btc😢
He didn’t invest any. He is a NPC parroting MSM talking points.
He would have told you the internet was a fad 30 yrs ago
This video could of been made 10 years ago. This is mostly misinformation. Its the best performing asset class 10 years out of the last 13. All you need to know.
Bitcoin's been alive for 15 years but traded on the market for 14 years. It's had 11 years of positive gains, and only 3 years in the negative. I bet it's gonna continue to be the best performer for the next decade.
BTC spot ETF’s are the fastest growing in the history of ETF’s now too. That’s why I always tell my friends it’s still early. Invest with caution and a small share. But I think everyone should first read up on and educate themselves on BTC from several points of view. Step out of your echo chamber!
BTC rush will end in tears because of FOMO
But it’s been 15 years…when is this gonna happen?
@@blexaarron When the world runs out of speculators
@@jan2000nl again, its been 15 years. Are people still “speculating”?
Everything is speculation. Everything.
I love how it’s always “speculation” and never “monetary debasement”.
Rob I think you were being nice when you used the word "speculation". Speculation implies you are able to do risk assessment of some sort. To my knowledge there is no way to assess the risk of cryptocurrency which makes it pure game of chance (i.e gambling). The only real way to measure risk of crypto is strictly through behavior analysis of people you nothing about. I guess the one risk you can try to assess is regulatory(i.e. if crypto ever got big enough to threaten the ability to collect sufficient taxes, it would be banned )
you can trust that they already tried to ban it . thats what dex's are for
I just don't trust it!
Why would you trust something backed by Nothing, Based on Nothing with wild Market swings???
You don’t understand it, so yeah you shouldn’t trust anything you don’t understand
No, Warren Buffett’s comments regarding crypto and rat poison are definitive.
They are not ETF’s, they are ETP’s which is different….
Don't
Lol, used for criminal activity 😂. Maybe 10 years ago. Now it’s the worst thing to use as its the most easily trackable.
Love the channel, but pls do proper research :-)
IMO, BTC is little more than a Ponzi anymore.
@@furyofbongos
Anymore? I’d argue it’s becoming less of a ponzi as time goes on, not more. Or, if you understand what a ponzi scheme is, it’s not a ponzi at all obviously.
Highly recommend watching Michael Saylor's TH-cam Series on Robert Breedlove's channel if you would like to know more on BTC. Always good to get all information before making a decision on whether or not to open a position. One of the most informative videos ive ever watched on TH-cam.
Say crypto one more time.
You are my hero! Love to hear a voice of sanity in the Sea of insanity.
He is clueless, you may think you got an educated opinion on the subject. You didn’t. Pick up a book and do your own research
I can't tell you enough how much I hate this crypto movement. It's so stupid, putting your money in something that, by the end of the day. You have nothing to show for. There is nothing that's backing crypto. It's just a he says/she says investment, it's a casino. But one thing I can't deny. There are just too many people with more money than sense. We have people paying out the bum for gamer girl bathwater, fart in a jar, and OnlyFans. There are some stupid money to be made in this market. I'm slowly starting to dip my toes in these ETF (IBIT). Like how bad can it possible gets?
I actually agree with this for the most part. I started investing in crypto in 2016. I’ve made many mistakes along the way, made some money as well, but what this exposure has done for me is strengthen my conviction with BTC. For the past 2 years I’ve stuck solely to BTC. I learned how to properly store and self custody it offline. I buy it every week in a DCA fashion and it removes any emotion out of it.
It’s been by far the best performing asset in my portfolio and may actually give me a chance to retire on time now. Obviously only time will tell. I am definitely a believer.
Bitcoins only purpose is a long-term digital store of wealth, it's not supposed to be a medium of exchange. Kind of like saying a ruler has no use other than to measure distance. BTC digitally measures wealth and can't be deflated away by governments.
Is that you Michael Saylor? :)
That's not what the original white paper said. The "store of value" trope was thrown out there by holders realizing BTC failed miserably in it's intended purpose as digital cash.
@@furyofbongoshow did it “fail”? You can use it exactly what it’s meant for, a Peer-to-Peer Electronic Cash System. Its properties just happen to make it a store of value. Just like the unique properties of gold.
@@blexaarronUntil.....
IT'S NOT!
@@METVWETV can you elaborate? I’m noticing a theme in the comments….people make claims that are pushed by mainstream media but then can never elaborate beyond that.
I don't and never will buy bitcon. Putting my hard earned money into this criminal virtual imaginary nonsense. Looks like I need to close my Fidelity account. Thanks Rob
You think your cash and stocks are "real" 😂... these haven't been real for a looooong time.
@@dominichoward4833 cash and stocks are definitely more real that BTC. Stocks at least you're investing in a real company that creates real products and generates real revenue, and cash is accepted everywhere, in every store, by all your peers, and by the US government. So while I concede that there is a high degree of speculation in stocks and to some degree cash, BTC is mostly pure speculation so its not really a good comparison.
You’re going to close your Fidelity account because they offer a product you won’t use? Seems a little much no?
Better not shop at Amazon either since I'm sure they offer things you absolutely don't think are good to purchase.
Absolutely correct. Crypto is an emptiness invented by con artists
😂😂😂😂😂😂
Vanguard is doing quite wrong. It should have left to investors choice to buy or not to buy. Instead they are doing parenting so to speak. I moved my retirement to Fidelity. Vanguard does not deserve my business
Choice in important.. people have been locked out of the best performing asset in their 401ks for way too long. The SEC failed Americans and Vanguard is making a mistake. People are leaving - as they should.
Get out of Vanguard. Any BTC ETF you purchase now and get at least some exposure in your portfolio will increase your sharp ratio. Basically, you will not lose as long as you have an investor mindset for 2+ years.
have fun with that
Not sure how you watch this channel and yet come to that conclusion Mike.
@@jan2000nl well you don't watch just one channel of one dude with one opinion about something you diversify like in your portfolio. I follow a lot of stock channels to understand stocks and etfs even tho i'm a BTC guy
As a speculative asset it is fine. That means with money you don’t need!
I have BTC, it is not part of my retirement plan, but I do believe it may have substantial gains. It could still fail. Having a few thousand dollars in it at this point isn’t quite diversification yet, but it is getting close. If it goes well I will be smart, if not I won’t.
The fact that we now have ETF’s obviously significantly legitimizes it.
BTW it is a medium of exchange and wealth preservation on the margins for people who can’t access stable money.
@@randolphh8005 It’s a castle in the sky investment. Need to be good with timing your exit, else left holding worthless assets