Do you wanna lose money Buy Dogecoin advisor

Elon Musk’s SpaceX will start accepting Dogecoin for lunar missions, but Julia Carlson, CEO of Financial Freedom Wealth Management, tells Reuters’ Fred Katayama why she thinks investors should best forego it.

Video transcript

FRED KATAYAMA: A decline in big cap tech stocks drove the S&P 500 and NASDAQ down Monday afternoon. Let’s get some investment tips from Julia Carlson. She is the CEO of Financial Freedom Wealth Management. She comes to us from Newport, Oregon. Welcome Julia.


FRED KATAYAMA: Julia, the shutdown of the Colonial Pipeline over the weekend as a result of this cyberattack drove up energy prices. Should Investors Buy Energy Stocks? I mean, midstream energy stocks are up more than 30% this year.

JULIA CARLSON: Yes. Great question. I think it should, yes, be a part of everyone. I don’t think we’re going into shutdowns anymore. I think only we will open up from here. And I think summer travel and recovery are on the right track. And I think yes, energy should be part of an overall portfolio.

FRED KATAYAMA: So part of the reopening trade, what you call it. Well, the other thing that is making headlines today, Dogecoin, after Elon Musk’s SpaceX said today that it will start accepting Dogecoin for moon launches. It did so a day after Dogecoin price fell a third after Musk called it a rush at SNL.

I don’t know if you get inquiries from your customers Julia, but what would you say to people who say, hey, should I pick up Dogecoin? Dodge or, you know, dive in?

JULIA CARLSON: Well, I say– I say if you want to lose money, go for it. [LAUGHS] But I think there are some other cryptocurrencies out there that are a bit more stable and secured and proven so I don’t know if this would be my first choice.


JULIA CARLSON: Why not? Just because there can be an infinite supply of Dogecoin can it be printed, and that will affect prices in the future.

The story goes on

FRED KATAYAMA: Right, as opposed to a bitcoin, which has a limitation in terms of–


FRED KATAYAMA: Aha. Well, May is traditionally a weak month. I think it has the seasonal factor, selling in May and going away. But would you buy on break-ins or would you advise people to sell in strength? People are concerned about reviews today. I suspect tech stocks are sold out.

JULIA CARLSON: Yeah, I think this is a great opportunity for tech stocks to get in. I mean, from the highs, they went up or down 30%, 35%. I think it’s a great opportunity to get back on track when you may have already moved to more value-driven companies. But I think … I don’t think this will be sold and go away in May. I think there are some strengths as we start to open up our economies more and more and there is some catching up to do that I think we will see.

FRED KATAYAMA: Where should investors put their money now?

JULIA CARLSON: Well, I think if it’s new money, if you look at the technology and the IT sector that is being sold, then I’ll lean on that and the innovation funds. I think this is a good opportunity.

But I also think that on the other hand we will still see strength in value-oriented companies, in real estate investment trusts, the equity real estate. I also think financial stocks are going to do well, and more of that consumer product investment.

FRED KATAYAMA: In fact, real estate and staples are among the stocks that are trading higher today. Thank you, Julie, for your thoughts.

JULIA CARLSON: Thanks for the invitation.

FRED KATAYAMA: Thanks to Julia Carlson from Financial Freedom Wealth Management. I’m Fred Katayama in New York. This is Reuters.

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