In a recent dialogue with Lex Fridman, billionaire investor Bill Ackman shared insights into his investment philosophy, touching upon cryptocurrencies. 🪙
Ackman differentiates between speculation (trading) and investment, which involves a deep understanding of value over time. He acknowledged the speculative nature of short-term crypto trades but recognized potential long-term intrinsic value in cryptocurrencies.
Ackman initially approached crypto with skepticism. However, he has since seen merit in certain projects, advocating for the crypto industry to self-regulate and address unethical practices. Ackman also reflected on the influence of “The Intelligent Investor” by Benjamin Graham on his investment approach, emphasizing the importance of discerning between price and value and focusing on long-term asset value rather than short-term speculation. 🧠