What A Fool Believes

Quote for Today:

“Too many people spend money they haven’t earned to buy things they don’t want to impress people that they don’t like.”

― Will Rogers


Let’s get far, far away from politics today with the news that the Mega Millions lottery is up to $625 million.

That sizable sum is up for grabs for whatever four-leaf-clover-holding, horseshoe-rubbing, rabbit-foot-carrying individual can correctly predict its six randomly selected numbers.

The would-have-been winning digits last night that nobody got were 12-14-26-28-33, with the Mega Ball being 09.

Tempted? Even just a little?

Of course you are! How could you not be?

The thought of instant riches has an obvious allure, promising an immediate exit from the rat race and all of its discouraging bosses, obnoxious coworkers (even social distancing can’t solve that problem), mortgages, worries about kids’ college funding, etc., etc., etc.

Just like that, with the draw of a handful of number-stamped spheres, you’re living on easy streets! A dream come true!

Problem is, for most people, it really is nothing more than a dream. As Fox Business points out, “The odds of winning Powerball are one in 292.2 million. They’re even steeper for Mega Millions, at one in 302.5 million.”

In short, I wouldn’t bet your piggy bank on the possibility.

Euro Pacific Capital CEO and Strategist Peter Schiff certainly didn’t earn his net worth of $80 million that way. Nor did Shark Tank star Mark Cuban – and he’s got $4.1 billion!

I mention these men because both made statements about cryptocurrency the other day. Schiff, for his part, says that, “All bitcoin is the latest iteration of fool’s gold, and anybody buying it is ultimately a fool.”

For those investing in it, don’t blame me for his bold-faced language. I’m just the messenger. The same goes for this next part, capitalization and all…

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Brad Thomas is the Editor of the Forbes Real Estate Investor.

Disclaimer: This article is intended to provide information to interested parties. As ...

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