Excerpt from The Wall Street Journal...

"After NFT Surge, Traders Worry Reopening Will Stifle Rally"

By Caitlin Ostroff and Sebastian Pellejero
March 31, 2021

 

David R. Kotok - In the News

 

 

Many expect vaccinations and business reopenings could sap demand for NFTs once people are spending less time at home and can shop and travel normally. That could send prices sharply lower.

“We have an abundance of money and very little cost attached to it,” said David Kotok, chief investment officer at Sarasota, Fla.-based Cumberland Advisors. “On top of that, humans have to deal with this dilemma of boredom, and boredom is a very difficult thing to deal with.”

Financial advisers remain hesitant to recommend clients buy digital collectibles, especially in the midst of what some called a speculative frenzy. Chris Clepp, a financial adviser with Strategic Financial Group, is telling those interested to allocate only a small percentage of their portfolio—5% at maximum—and only after a long-term investment plan is in place.

“Collectibles rallies often end up being short-term crazes and bubbles,” he said.

Read the full article on the WSJ Website (paywall): https://www.wsj.com/articles/after-nft-surge-traders-worry-reopening-will-stifle-rally-11617183002

 


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David R. Kotok
Published Date
News Source
Wall Street Journal