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More men are addicted to the 'crack cocaine' of the stock market

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391–400 of 640 posts

Re: More men are addicted to the 'crack cocaine' of the stock market

#391

At this point I’m just watching a slightly younger cohort of men repeat all of my worst digital addiction mistakes like getting inserted into the online video game -> toxic online behavior pipeline (or worse, fascism), ideologies (Musk), crypto and options gambling (thanks Reddit a la 2013 for all of the crypto communities and WSB) too much computer (ouch, my neck, arms and back.) I’m not doing particularly well, esp…

I feel like the patterns are more or less the same but the cycles are getting shorter and more pronounced. I met the son of a family friend today, he's 13, already has an opinion about the Israel/Palestine war and spent $500 in roblox so far, they're not wealthy at all. Back in my days I was stuck in the free to play parts of mmorpgs (or had to beg for months for a $5 monthly membership), playing tf2 (free) and had 0…

It really is not beyond the reach of a motivated and curious 13 year old to have an informed opinion on (geo)politics.

Re: More men are addicted to the 'crack cocaine' of the stock market

#392

Note this article isn't about investing, it's about gambling. It doesn't mention Robinhood's role in promoting addictive gambling behaviors. How much has it changed since this 2020 article? https://www.nytimes.com/2020/07/08/technology/robinhood-risk...

> After funding his account with $15,000 in credit card advances Wow. Stop right there.

Young people can take risks that seem crazy to us older folks, because they have way more time to recover.

If you leverage invest early in life, even if it completely wipes you out (once), you can leverage your way back into money.

Re: More men are addicted to the 'crack cocaine' of the stock market

#393
post #296

Earlier quoted context omitted.

I feel like the patterns are more or less the same but the cycles are getting shorter and more pronounced. I met the son of a family friend today, he's 13, already has an opinion about the Israel/Palestine war and spent $500 in roblox so far, they're not wealthy at all. Back in my days I was stuck in the free to play parts of mmorpgs (or had to beg for months for a $5 monthly membership), playing tf2 (free) and had 0…

If you don't have decades of built up propaganda it's pretty easy to see that Israel is the bad guy. The condescending "it's complicated" line is part of the propaganda telling you that you're not allowed to come to the obvious conclusion for yourself. My 10 year has figured out that Russia is the bad guy in Ukraine and that Israel is the bad guy in Gaza.

[flagged]

Re: More men are addicted to the 'crack cocaine' of the stock market

#394

Earlier quoted context omitted.

> jaco6 : Maybe the minority who want to reproduce will be paid to reproduce for everyone else in the future? This latter comment of yours was down voted by idiots to the point where it's dead, so I could not respond to it directly. Anyway, specifics aside, it is actually a good idea - for a variety of reasons.

I like the converse: pay certain people to NOT reproduce.

That's also great.

Re: More men are addicted to the 'crack cocaine' of the stock market

#395

Earlier quoted context omitted.

> Must be nice if politics is just good and bad guys for you. Some politics are more complicated. Other politics are treated as more complicated because people get uncomfortable when you point out that they're casually endorsing-via-silence the mass murder of one group of people by another. There's nothing complicated there. If you as a nation state or standing army are obliterating an opponent that can't fight back…

That is not at all the definition of genocide. Israel is not pursuing a strategy of indiscriminate killing. Hard to take anyone seriously making such good/evil distinctions, especially when the they are not reckoning with the evil of Hamas & co. beyond “well gee shucks Palestine ain’t perfect either yall!” Only one side has the state md objective of “ethnic cleansing” and it’s not the Israelis

There's no shortage of material in print calling for the destruction of Gaza, the non personhood of Palestinians, etc. from Israel ministers and commentators from before the October attacks by Hamas.

You can, for example, look to the Journal of Genocide Research at articles that draw parallels between Holocaust scholar Eugene's Finkel's declaration of Ukraine as a genocidal event and his point by point justification and similar parallels with Israel and Gaza.

https://www.tandfonline.com/doi/full/10.1080/14623528.2024.2...

There's no shortage of evidence of extremists in power on both sides calling for the destruction of the other.

Re: More men are addicted to the 'crack cocaine' of the stock market

#396

Earlier quoted context omitted.

Dollar cost averaging does not work and has never worked. Because most assets have unlimited upside and unlimited downside. A stock or asset can go ballistic for decades like Apple or Bitcoin, or it can fall to zero value. There are no mathematical ways of winning investing. If it was that easy, everybody would do it. You can only follow your heart and do your due diligence.

> Because most assets have unlimited upside and unlimited downside. A stock or asset can go ballistic for decades like Apple or Bitcoin, or it can fall to zero value Spot equities and crypto have limited downside. You put in x, most you can lose is x as you observed. Unlimited downside is not a thing outside certain exotic derivatives.

I didn't mean the upside/downside on your investment, but on the asset. Most investment assets except for bullion can fall to 0. They can also increase without an upper limit, like for example Apple stock. The market being "high" or "low" is not remedied by dollar cost averaging.

Re: More men are addicted to the 'crack cocaine' of the stock market

#397

People want a chance to get rich. They also want excitement. Doesn't that say more about our jobs that are a) dead-end for most b) financially limiting, with a salary that goes up slowly, if at all, unless you find a new job People want the chance to win, and some meaning, and some daily purpose. No one cares anymore about the stats of "stock pickers" "day traders" and other arguments for DCAing into index funds and…

You describe the psychological motivations for gambling.

The psychological motivation for taking risk.

I don't necessarily call all risky stock activity gambling. At the risk of splitting hairs, it's a little different to buy Tesla stock because of, for the sake of argument, let's say a really bad reason (CEO smart, car go fast), i.e. uninformed, than it is to bet on a number on a roulette wheel.

I think we paint it as gambling because gambling has an aura of naughty judgment about it, as in, "Oh, you're just gambling because you made an uninformed stock purchase." I'd prefer the term speculating or risky stock picking. Gambling, which is banned in many places and is against the law in religious texts, has a taboo because it's addictive. I daresay only a minority of stock trading bros are addicted in that way.

Re: More men are addicted to the 'crack cocaine' of the stock market

#399
post #215

Earlier quoted context omitted.

>Child rearing is a possible solution—it is our evolutionary “purpose” to reproduce, after all, and most people in the developed world today aren’t doing it. I doubt it, that's because to most people it does not feel purposeful, it's a chore. Most people who say it's purposeful are generally the most vocal ones, and I suspect the minority.

Chores are a great way to make you feel a sense of purpose. You can directly observe the fruits of your labor. Your kitchen is shinier after a deep clean. Your baby is no longer crying of hunger after a feeding. The same can't be said for scrolling through TikTok for hours or even a lot of employment. Sure your livelihood may depend on moving items from big boxes into little boxes, but it's hard to feel any sort of a…

There is a difference between considering a task a chore i.e a drudgerous task and 2) doing a chore (a mundane task, which may/may not be drudgerous). Same word but different connotations.

Re: More men are addicted to the 'crack cocaine' of the stock market

#400
Some guy wrote a book recently and claimed that about 10% of workforce-eligible men are long term out of the workforce, due to some type of disability. Also 50% either aren't engaged at work or don't really do anything essential, meaning their job could disappear and it wouldn't be a huge impact.

https://www.richmondfed.org/publications/research/econ_focus...

https://www.frbsf.org/research-and-insights/publications/eco...

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