Tesla and Spacex CEO Elon Musk has shared his recommended investment strategy, which he believes “will serve you well in the long term.” Some people noted that Musk’s strategy is similar to one adopted by Berkshire Hathaway CEO Warren Buffett.
Elon Musk’s Investment Advice
Tesla and Spacex CEO Elon Musk gave some investment advice Sunday, noting that he has been asked about it “a lot.”
Investors should invest in companies making products and services they trust. Musk said that investors should sell only if the trend is worse and stressed that it was not a good idea to panic if this happens. “This will serve you well in the long term,” the Tesla boss stressed.
At the time of writing, Musk’s tweet has been liked more than a million times and retweeted 110K times.
His tweet received mixed responses. While some people agreed with Musk, others disagreed. Others argued over different parts of Musk’s advice. For example, he advised against holding investments that are too high in value for the long-term and that not all market responses should be ignored. A few took Musk’s advice as a warning that his electric car company, Tesla (TSLA), may have some bad news soon.
Many crypto supporters said that they did what Musk suggested with cryptocurrency: supporting projects they believe in, regardless of their coin price.
Some investors noted that Musk’s advice is similar to the value investing strategy touted by Berkshire Hathaway CEO Warren Buffett. He spoke about value investing over the weekend and explained his reasons for not investing in cryptocurrency or bitcoin.
Many people noted that Musk uses this strategy to try and buy Twitter. The world’s richest billionaire struck a deal to buy 100% of the social media platform for about $44 billion last week.
Musk shared some investment advice with the audience during March’s discussion on inflation. His tweets were:
As a general principle … it is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high.
Tesla’s boss revealed that he will continue to own and not sell bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE) at that time.
What do you think about Musk’s investing advice? Please comment below.
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