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Author Topic: 2013-11-22 Reuters: Money managers and the fog of bitcoin  (Read 973 times)
n8rwJeTt8TrrLKPa55eU
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November 22, 2013, 10:39:31 PM
 #1

Good news: price still has a long way to go, majority of world's big money is nowhere near on board this train.

Quote
“I still don’t even know what it is” – Jim Chanos, famed short-seller and founder of $6 billion Kynikos Associates.

“You know,  I don’t understand bitcoin” – Bonnie Baha, head of Global Developed Credit at $53 billion DoubleLine Capital.

“I don’t really know enough to have a view” – Chris Delong, chief investment officer of $8.1 billion multi-strategy hedge fund Taconic Capital Advisors

“I don’t have any insight at all. I don’t know how it should be valued. I have no anchor as to what it’s worth”-  Steven Einhorn, Vice-Chairman of Omega Advisors

“I like sound currencies. I have no interest in that. I would stay away”  - Margie Patel, senior portfolio manager at Wells Capital Management.

http://blogs.reuters.com/unstructuredfinance/2013/11/22/what-the-money-managers-and-the-fog-of-bitcoin/
"In a nutshell, the network works like a distributed timestamp server, stamping the first transaction to spend a coin. It takes advantage of the nature of information being easy to spread but hard to stifle." -- Satoshi
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Carlton Banks
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November 22, 2013, 11:14:48 PM
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Lol, so-called "technical experts" demonstrating exactly how narrow the range of their expertise actually is.

Do you understand "reserve currency hyper inflation accompanied with simultaneous cryptocurrency appreciation and usage, on the inverse trendline"? You will get the chance to sample it in real time. Real soon.

Vires in numeris
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November 22, 2013, 11:18:47 PM
 #3

It is scary how much money they manage...
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November 22, 2013, 11:20:15 PM
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It is scary how much money they manage...

even scarier how little that money is sensibly valued IMO

Vires in numeris
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November 23, 2013, 01:18:49 PM
 #5

i kinda like these guys... they are at least modest and admit ignorance when they are asked about something
where they aren´t equipped with the necessary knowledge.

many other guys would have just talked to the media without knowing anything about bitcoin and it´s nature Wink

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November 23, 2013, 01:46:54 PM
 #6

Well that's the interesting thing, I've found most people are like those 4 guys and just say they don't know anything about it which is admirable. The 1 guy who just makes up an opinion on the spot is unfortunately part of a small minority who are jumping to get their opinions heard and trash a new technology.

It's really annoying when you come across people like this yes but just remember they're probably the same people who are convinced violent video games, metal and the internet corrupt children.
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November 23, 2013, 03:22:55 PM
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I find it the other way round, most people always has a opinion one way or the other even if they have no clue so much respect to these guys for addmitting they do not know. I often find hedge fund guys pretty open minded so would not be surprised if some of them join team Bitcoin in not too long.
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