Gary Shilling calls bitcoin a black box and says he doesn't invest in things he doesn't understand

Business Insider | 10/11/2017 | Zach Williams and Sara Silverstein
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Cryptocurrencies like bitcoin can make an attractive investment for many people on Wall Street. But famed financial analyst Gary Shilling, president of A. Gary Shilling & Company says that this emerging currency is too opaque and complicated for him to invest. The following is a transcript of the video.

It's a black box and I'm not a believer in black boxes. I recently met with a friend of mine, a West Coast venture capitalist. He was very early on this. He's made a lot of money on this and so on. I cornered him at a cocktail party and I said:

"Now listen, I want you to explain to me what this really is."

"Well you know, ok it's a controlled deal and these minters. There's only so many of them."


And I said: "How about the guys behind this?"

(Excerpt) Read more at: Business Insider
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