Buy “dogcoin” and risk losing everything! Legendary Investor Warns

Legendary investor Gillantham uses his own experience as an example to warn that investing in dogcoins will be a bloodbath. (Diagram, Pexels)

Jeremy Grantham, the legendary investor and founder of the US asset manager “GMO”, recently warned Dogecoin investors from his own investment experience that the rise of Dogecoin has deviated from the economic reality and investors will lose their money, but he also knows that But he also knows that he cannot change the crazy behavior of investors.

According to Business Insider, Grantham, who accurately predicted the 1989 Japanese bubble economy, the 2000 dot-com bubble, and the 2008 U.S. real estate bubble, recently said in an interview that when he was younger, he also tried to speculate in the stock market, similar to the recent frenzy of investors who bought Dogecoin. He said “I bought assets for just a few weeks or months at the time, hoping to find someone willing to pay more to buy.” He said this method of making money did work for a short time, but in the end he still lost all the money he made.

Grantham said he understands the psychology of speculators, “It’s exciting, almost irresistible!” He noted that “there’s nothing worse than watching your neighbor get rich, it makes you crazy!” He also said that even Isaac Newton, the famous physicist, lost his mind and put a lot of money into stock speculation but unfortunately ran into the South Sea Bubble and left the market at a loss. Irrational Exuberance” is the powerful driving force, he said frankly “I have also had this experience, so I feel the same, but I know what I say can not change their (speculators) attitude.”

Dogcoin has soared nearly 250 times in the past six months, but Grantham believes the rally shows the market has departed from economic reality, citing the example of investors who can link Tesla’s stock price rise to the company’s automotive products, but the investment frenzy in dogcoin and GameStop has not had a material factor driving the rally. Grantham warned “it’s a short-term game that people are having fun with right now, but eventually they’re going to lose everything, and I regret that because I don’t believe they can afford it.”