Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
Some of my clients have asked me for my views on cryptocurrencies. My standard response has been that this is an “investment” that I don’t understand. We encourage clients with large portfolios to earmark a small portion (3-5 per cent) as “mad money” allocation — basically money that can be used to make risky investments that may provide a big payoff or become worthless. Our recommendation to clients has been to use their mad money allocation to invest in cryptocurrencies if they feel like it.
Some of my clients have wanted to know how an investment adviser can refuse to research an investment class, especially something like cryptocurrency, that has provided spectacular returns in recent times. This deserves a well thought