“Blogger Mocks Ineffectiveness of ‘Diversified Financial Management’, Vitalik Criticizes: Stop Spreading Misconceptions!”

"Blogger Mocks Ineffectiveness of 'Diversified Financial Management', Vitalik Criticizes: Stop Spreading Misconceptions!"

"Blogger Mocks Ineffectiveness of 'Diversified Financial Management', Vitalik Criticizes: Stop Spreading Misconceptions!"

German engineer and electric vehicle enthusiast Alex Avoigt today mocked Bill Gates on social media for adopting a strategy of financial diversification after becoming friends with Warren Buffett, which instead resulted in him losing a significant amount of potential wealth. Alex Avoigt said:

However, this statement drew criticism from Ethereum co-founder Vitalik Buterin. Vitalik accused Alex Avoigt’s remarks of being bad advice and provided the following four practical financial recommendations to the public:

Diversification is a good thing.
Save money. Strive to have enough savings to cover several years of expenses. Financial security is freedom.
In your investment portfolio, keep the majority conservative.
Do not use leverage exceeding two times. Absolutely do not.