Old-school commodity trader Peter L. Brandt, who has been in the business since the 70s—for roughly 50 years—has taken to Twitter to share some investment pieces of advice with people from Generation Z.
In particular, he mentioned Bitcoin and ADA.
"Contribute most savings to BTC"
In one of his recent tweets, Peter Brandt shared several recommendations to Gen Z college students regarding how to build their careers and manage their savings/earnings.
In particular, Brandt advises them to pick a degree in a field where one can easily secure a well-paying job and avoid student debt, if that is possible.
He also touched on the topic of investment, and this is where he mentioned the biggest cryptocurrency by market capitalization, Bitcoin. Brandt believes that Gen Zers should allocate most of their savings into BTC, as well as to stocks of solid companies and then just hodl them.
Keep buying and hope for cheap prices, he added in the tweet.
My advise to Gen Zers is— Peter Brandt (@PeterLBrandt) March 10, 2022
-Get degree in a field with jobs
-Avoid student debt as possible
-Secure good job, think about mkts as hobby
-Buy a home/get married/be frugal
-Contribute mo. savings to $BTC & stks of solid companies - & HOLD
-Keep buying/hope for cheaper prices
A Twitter user asked Brandt how long he has been bullish on Bitcoin, and the seasoned trader answered that he has been bullish on BTC for years. However, he tries to be honest and share not only bullish signals when charts reveal them.
Curiously, in early March this year, Brandt tweeted that he was against "hodling" Bitcoin. He wrote that the asset has had four declines of roughly 80%, and hodlers had to wait for a 400% recovery to reach the previous all-time high.
"Crypto is still unproven"
In the thread, the trader received numerous questions from commentators. Answering one of them, Brandt wrote that aside from Bitcoin, he believes in stocks more than in cryptocurrencies, saying that "crypto is still unproven" and that he prefers quality stocks over it.
He recommends avoiding the majority of altcoins, as well as NFTs ("jpgs").
I am also very favorable toward rental income property. Between quality stocks and crypto I prefer quality stocks. Crypto is still unproven IMO. Avoid 8hitcoins and jpgs. Hope for a bear market so that stocks can be bought cheaply.
In particular, he slammed the native Cardano crypto token, ADA.