SoFi Vice President John Foley: Real Risk in Losing Money in Crypto
Cryptocurrencies are on a rollercoaster ride. This week Bitcoin and Ethereum trading near their all time highs. SoFi Vice President and Certified Financial Planner John Foley warns investors to be careful with how much money they invest in this marketplace.
Foley advises clients to not invest more money in cryptocurrency than they can afford to lose. Foley cautions people to make investments in cryptocurrency part of a balanced portfolio.
"Fear of missing out should be fighting with a fear of losing money, " says Foley. Foley also recommends to diversity investments with several types of cryptocurrency.
Much like all the upheaval shaking the world, the huge swings rocking Wall Street may feel far from normal. But, for investing at least, this is normal.
Joe Cecela, Dream Exchange CEO, explains how they are aiming to form the first minority-controlled company to operate an exchange in U.S. history. Watch!
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
