oh those poor rich people that lost a bet, I feel so sad for them :(
These aren't rich people, this movement is almost entirely fueled by young people. Educate yourself more before thinking this is reddit.
'My life's screwed': Korean investors stress out after AI bubble bursts
11–20 of 46 posts
Re: 'My life's screwed': Korean investors stress out after AI bubble bursts
#12oh those poor rich people that lost a bet, I feel so sad for them :(
From my very shallow understanding of the Korean market it's common to invest in high risk shares because a big win is the only way to afford a nice home. Financial nihilism, risk appetite etc. So it's far from only rich people.
But if an investment doesn't pan out, and your response is "My life's screwed", you couldn't afford the investment either. "high risk" is right in the name -- the win isn't guaranteed.
If you are in the unfortunate position of not being able to afford a nice home, live somewhere less nice and try to build savings so that some day your children can afford a nice home.
Re: 'My life's screwed': Korean investors stress out after AI bubble bursts
#13oh those poor rich people that lost a bet, I feel so sad for them :(
These aren't rich people, this movement is almost entirely fueled by young people. Educate yourself more before thinking this is reddit.
Young people who can't afford the risk, and don't bother to understand that fact.
Re: 'My life's screwed': Korean investors stress out after AI bubble bursts
#14Gamblers shouldn't expect to win all the time.
Some seem to expect governments to save them, which worked in 2008.
Re: 'My life's screwed': Korean investors stress out after AI bubble bursts
#15Bursting??
They set off circuit breakers for KOSPI twice in two days.
Re: 'My life's screwed': Korean investors stress out after AI bubble bursts
#16oh those poor rich people that lost a bet, I feel so sad for them :(
Small retail investors comprise 66% of the market in SK. It's usually single unmarried people who make ridiculously big bets to try and get enough money to buy a house or get married. It's something to be pitied not hated.
Re: 'My life's screwed': Korean investors stress out after AI bubble bursts
#17oh those poor rich people that lost a bet, I feel so sad for them :(
Small retail investors comprise 66% of the market in SK. It's usually single unmarried people who make ridiculously big bets to try and get enough money to buy a house or get married. It's something to be pitied not hated.
Okay yeah that's very sad. People being tricked / kind of forced to bet money they can't afford to lose is very shitty.
Re: 'My life's screwed': Korean investors stress out after AI bubble bursts
#18Earlier quoted context omitted.
These aren't rich people, this movement is almost entirely fueled by young people. Educate yourself more before thinking this is reddit.
Young people who can't afford the risk, and don't bother to understand that fact.
Well apparently they don't really have a choice and with this context it's less funny
Re: 'My life's screwed': Korean investors stress out after AI bubble bursts
#19Earlier quoted context omitted.
From my very shallow understanding of the Korean market it's common to invest in high risk shares because a big win is the only way to afford a nice home. Financial nihilism, risk appetite etc. So it's far from only rich people.
But if an investment doesn't pan out, and your response is "My life's screwed", you couldn't afford the investment either. "high risk" is right in the name -- the win isn't guaranteed. If you are in the unfortunate position of not being able to afford a nice home, live somewhere less nice and try to build savings so that some day your children can afford a nice home.
>But if you get caught stealing bread, and your response is "My life's screwed", you couldn't afford the risk either.
>If you are in the unfortunate position of not being able to afford bread, eat something less expensive and try to build savings so that some day your children can afford bread.
See how this works when you conveniently dismiss the effects of severe structural problems in society as evidence of poor financial literacy?
Re: 'My life's screwed': Korean investors stress out after AI bubble bursts
#20Earlier quoted context omitted.
From my very shallow understanding of the Korean market it's common to invest in high risk shares because a big win is the only way to afford a nice home. Financial nihilism, risk appetite etc. So it's far from only rich people.
But if an investment doesn't pan out, and your response is "My life's screwed", you couldn't afford the investment either. "high risk" is right in the name -- the win isn't guaranteed. If you are in the unfortunate position of not being able to afford a nice home, live somewhere less nice and try to build savings so that some day your children can afford a nice home.
Now I'm on very thin ice and just based on youtube videos so if someone from South Korea reads this feel free to correct me.
As I understand it the order of things for men* in SK is 1) housing 2) marriage 3) children
No housing means no wife means no children to afford a nicer home. So, they're incentivised to take big risks.
But I'm going to step out of this minefield now with the hope of someone who actually knows things providing some information. It just seemed like the original comment didn't give enough weight to context.
*Women in SK are as I understand it fighting a whole other battle.