Episode 27 of season 3 of The Scoop was remotely shot with Frank Chaparro of The Block and Josh Brown, CEO of Ritholtz Wealth Management.
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Wall Street deals with the development of crypto headlines one after another.
From Goldman Sachs to Morgan Stanley, the big banks are moving from exploring the world of digital assets to doing full business.
For example, Goldman announced on Friday that it would restart its market for undeliverable forwards tied to Bitcoin. Both Morgan Stanley and Goldman have announced that they will offer Bitcoin to their richest customers. One channel that has not yet fully embraced crypto is the independent wealth management market.
Josh Brown – the head behind the well-trafficked Reformed Broker blog – is one of the legion of wealth managers who have not yet advised their clients to buy crypto.
The CEO of Ritholtz Wealth Management spoke to The Scoop about how financial advisors are studying the fast-growing $ 2 trillion market, why it is skeptical of non-fungible tokens and decentralized funding, and how Covid-19 turned the idea of risk on its head .
Here is a blurb from the show:
“The most worrying thing is that what we have just seen has completely turned the whole concept of risk on its head because we were currently facing the greatest risk in 100 years. We have had the Spanish flu 2.0 in modern times as if we were going three times faster to travel.” Like the biggest risk you can think of, millions of people suddenly died from a global pandemic. It turned out to be one of the greatest opportunities. And you didn’t have to wait three or eight years like the Great Depression to find out. Literally. The stock market fell for 16 days and stopped. Think about it. So what is still a risk anyway? What if I tell you there’s an atomic bomb going off somewhere next? Dow Jones could rise 50%. “
© 2021 The Block Crypto, Inc. All rights reserved. This article is for informational purposes only. It is not offered or used as legal, tax, investment, financial or other advice.
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