Author and columnist Jason Zweig says that successful investors–such as Warren Buffett and Charlie Munger–can set aside emotions, according to a recent CNBC article.
At the recent Evidence-Based Investing conference in New York, Zweig mentioned Berkshire Hathaway’s Buffett and Munger as among the top tier, adding that they are “inversely emotional and are able to turn emotions inside out,” and “acutely sensitive to the fear inside other people” which they then take advantage of.
With regard to investing in cryptocurrencies, Zweig advised, “Make sure you look first at an exit strategy before investing,” and said that investors should have a plan in place to avoid emotional decision-making should prices rise dramatically.
“Nothing is as poisonous to rational investing,” Zweig quipped, “as making a massive amount of money.”