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đ„NEET CHAPTERWISE QUIZđ„
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NEET CHAPTERWISE QUIZ Telegram | DID YOU KNOW?
The S&P 500 slumped 1.8% on Monday and Tuesday, thanks to China Evergrande, the Chinese property company that looks like it is ready to default on its more-than $300 billion in debt. Cries of the next Lehman Brothersâor maybe the next Silverado?âechoed through the canyons of Wall Street as investors prepared for the worst.
Should You Buy Bitcoin?
In general, many financial experts support their clientsâ desire to buy cryptocurrency, but they donât recommend it unless clients express interest. âThe biggest concern for us is if someone wants to invest in crypto and the investment they choose doesnât do well, and then all of a sudden they canât send their kids to college,â says Ian Harvey, a certified financial planner (CFP) in New York City. âThen it wasnât worth the risk.â The speculative nature of cryptocurrency leads some planners to recommend it for clientsâ âsideâ investments. âSome call it a Vegas account,â says Scott Hammel, a CFP in Dallas. âLetâs keep this away from our real long-term perspective, make sure it doesnât become too large a portion of your portfolio.â In a very real sense, Bitcoin is like a single stock, and advisors wouldnât recommend putting a sizable part of your portfolio into any one company. At most, planners suggest putting no more than 1% to 10% into Bitcoin if youâre passionate about it. âIf it was one stock, you would never allocate any significant portion of your portfolio to it,â Hammel says.
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