Oracle of Omaha: Poor Hygiene leads to Double-Digit Returns
Howard Lindzon recently spoke with his good friend Yoni Assia of eToro on the Panic with Friends podcast. As many finance conversations do, this one eventually turned to the legendary Oracle of Omaha.
Yoni tells the story: Picture an intimate gathering of four crypto evangelists sitting around the table trying to convince Warren Buffet that there’s value in bitcoin. The mission, needless to say, was unsuccessful.
Naturally, Howard went straight TMZ querying Yoni on rumors of poor hygiene. Yoni gleaned something much more important: The value of investing in the stock market and how strongly Buffett believes it’s simple to invest in stocks. If you’re willing to read, learn, and educate yourself, Buffett is 100 percent confident anyone can generate double-digit returns.
Yoni agrees. It’s part of the thesis eToro was build around. He’s seen investors, who on average, are generating upwards of 50 percent by copying other popular investors on the platform.
Yet criticism comes for all corners. Financial institutions and professional money managers wheeze on about how retail investors can’t make money. This hubris speaks to what Yoni sees right now as the rise of retail investors. He’s confident today, more than ever before, that retail investors on eToro who’ve generated double-digit returns over the last five years, have a high probability of double-digit returns over the next five years.
Again, fortunately for us, Yoni tends not to concentrate on bad breath or immense amounts of ear hair when he sits in front of people worth $10 billion and above — his tendency is towards focusing on what they have to say.
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Originally published at https://riseofretail.substack.com.