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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Cryptocurrencies ‘not an investment-grade asset’

By Grace Ormsby · January 24 2020

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Invest

Cryptocurrencies ‘not an investment-grade asset’

By Grace Ormsby
January 24 2020

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Cryptocurrencies ‘not an investment-grade asset’

By Grace Ormsby · January 24 2020

Reading:

The lack of regulation in the cryptocurrency market means investors and potential investors would be better off steering clear of such assets, according to a market analyst.

Dale Gillham, Wealth Within’s chief analyst, has expressed his concern around what could happen if Australian financial advisers follow the trend being seen in the United States whereby advisers are placing cryptocurrencies in the portfolios of their clients.

Reflecting on a survey that came out of the US, Mr Gillham said the results indicated that 6 per cent of advisers had an allocation of crypto assets in their clients’ portfolios, while 45 per cent of advisers were open to the idea of placing cryptocurrencies in their clients’ portfolios in 2020.

“Call me old fashioned, but those figures really concern me because cryptocurrencies are largely unregulated, and they are certainly not an investment-grade asset,” he commented.

“It surprises me to hear that financial advisers are recommending these products when they are supposed to be the voice of reason by ensuring clients invest wisely and safely.”

In his experience, the chief analyst said that “those who invest in cryptocurrencies are chasing the potential high returns that may eventuate with this type of product”.

“But as we all know, with high return comes high risk, and the majority do not do well managing this risk,” he continued.

Mr Gillham said that’s because those who do invest are largely unaware of the risks they are taking and, therefore, tend to make emotional decisions – “which results in poor outcomes”.

For those investors who do decide that they want to delve into the world of cryptocurrencies, the analyst noted, “it pays to be well researched and educated”.

While acknowledging that some individuals won’t agree with his comments on cryptocurrencies, Mr Gillham expressed that “right now, there are not enough safeguards to protect consumers if they do invest”.

This is why he said “advisers should be steering clients into safe traditional assets rather than bowing down to client demands”.

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.