U.S. stocks began the week deeply in the red as investors continued to flock to the sidelines in September amid several emerging risks for the market. One such bear was Carl Martin, a 43 year old investor from Idaho who had seen brutal losses in recent weeks. His entire portfolio was shrinking, but there was a silver lining; Martin was losing so much money in the stock market, he barely had time to notice how much he was losing in crypto.
“I try to always look on the bright side,” Martin told Hard Money. “A negative person might get down on himself after investing heavily in the Chinese market only to see their entire investment crumble, but hey, at least I haven’t had time to fully appreciate the utter implosion of my BitcoinCash.”
The CBOE Volatility index, Wall Street’s fear gauge, jumped above the 23 level on Monday, the highest since May. The so-called “wall of worry” investors face after long growth periods seemed to be getting higher by the day, but Martin was surprisingly relaxed. “Unlike the stock market, crypto doesn’t have a volatility index,” he explained, “which means there really is no limit on how much fear a man can experience. So in a way, the fear I’m experiencing from Wall Street is a gift because it could be preventing a complete nervous breakdown.”
When asked about his plans for the rest of the year, Martin was optimistic. “My investments are creating a good emotional buffer for crypto right now, but I might buy some real estate as an extra layer of protection, just in case.”