Chuck Jaffe: I now definitely won’t go near crypto, but not because of the alleged FTX fraud

by | Jan 9, 2023 | Stock Market

Every year, I review my investments and plan for where I might move the “explore” portion of my portfolio during the 12 months ahead. A few years back, I added cryptocurrency to the process, figuring there might come a day when I was ready to take a small plunge. I never actually invested in crypto, but my look-ahead for 2023 makes it clear that it’s definitely not happening now.

Also by Chuck Jaffe: This is the only stock market prediction for 2023 that you need to know I’ve never held myself out as a crypto expert, but I have been covering the space from its very beginnings, and have watched it move from the hype of hobbyists to something my friends and neighbors are discussing as much or more than they chat about international stocks and bonds. Investors considering crypto tend to come from three camps: the true believers, the non-believers and the people in the middle either waiting to be convinced or willing to take a small shot. I’m in the middle group. While I’ve never bought any coins, I do have $12 worth of crypto, or that’s what I was told it was worth years ago when one promoter gave me $10 worth of DuckDuckCoin and another offered $2 in BBQCoin. (I don’t turn down free money.) By now, I suspect that the value of my crypto holdings is about equal to the very real $1 billion b …

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