"I'm not gambling! I'm smart." [proceeds to repeat this mentality, as it all dwindles away]
More men are addicted to the 'crack cocaine' of the stock market
431–440 of 640 posts
Re: More men are addicted to the 'crack cocaine' of the stock market
#432Many criticize the retail investor for treating the stock market like gambling, but I think it really does resemble gambling more than investing these days. How many times have we seen a companies value jump or fall by billions based on a tweet? How many meme stocks have we seen? How many pump and dump SPACs have there been? How many companies have never (and likely will never) made a dime in profit but see their mar…
I agree. I think the reality is the "don't try to be smart, do these low-risk things because statistically you're too stupid to beat the market" has logic to it, and stats to back it up. But the unspoken part is, "let the rich do that stuff, and their wealth advisors and folks on the golf courses". So there's an elitist aspect to telling people to back off. We all know people who made a killing on individual stocks,…
So... literally survivorship bias, and insider trading. Great, neither of those make me think I'm arrogant or smart enough to day trade. Nothing about this is elitist.
I've made a killing on 'X' by getting in early and holding over the years. Not one single person in my life knows the details because I want zero responsibility for them getting wrapped up in it, and I know how hard it is for people to be patient and hold when they're chasing a high, I mean profits.
Re: More men are addicted to the 'crack cocaine' of the stock market
#433Earlier quoted context omitted.
When I was 13 I had a paper route and mowed lawns, and with those earnings I spent about $75 per month on video games and comic books, easily exceeding $500 over a year.
This to me on a surface level this seems totally fine, however I can't help to feel conflicted when that money is being spent on some of the more "predatory" games like gachas, however I'm not sure if it's really too different from kids spending their money on pokemon cards either. Do you feel different about those or would you say it's the same thing?
There’s nothing to say it was predatory games. Roblox is a platform with a vast number of games from unaffiliated developers.
Re: More men are addicted to the 'crack cocaine' of the stock market
#434> They expect the problem to worsen. The stock market has climbed 23% this year... The problem will resolve itself if (when?) the market crashes. I remember the run up to the dot-com bust. I was too much of a bumpkin at the time to even know how I would trade stocks — but I listened to an acquaintance go on and on about how much he was making on the market. At the time I guessed that he was much smarter than me — tha…
The SPY and QQQ charts zoomed out are starting to look like the biggest parabola of all time in markets. 1999 is just a blip on this monster. Seeing all kinds of warning signs from family members who never traded or got into crypto until just this past 6 months.
> Seeing all kinds of warning signs from family members who never traded or got into crypto until just this past 6 months.
That's just jealousy, Those who sit on the sidelines complain the most. Like I said in my previous post if you didn't see it. I see it as that the barrier to entry for making money has never been lower. Right now, it’s one of the best times in history for anyone to start earning, not just the Wall Street elites. Thanks to AI tools and online platforms, it’s easier than ever. Every week, new tools are being launched, some even claiming returns as high as 400%. Take the NexusTrade guy on Reddit as an example. He created his own investment tool and is now in conversations with Wall Street professionals.
It’s so accessible now that with just $100, you could invest in a stock like NVIDIA, double your money in a week, then reinvest across multiple stocks and multiply it again. Suddenly, $100 turns into $2,500 in no time.
I get your point about everyone making money, but why is that a bad thing? Isn’t it great that anyone can do it? These platforms are practically making money for you, whether you’re at work, at home, or even asleep. Like someone once said, “If you can’t make money while you sleep, you’ll work until you die.”
It’s never been easier to earn significant amounts of money, and it doesn’t look like this trend is slowing down anytime soon.
Re: More men are addicted to the 'crack cocaine' of the stock market
#435Lot of people are becoming more knowledgable and skillful. But purpose is the missing ingredient. Without purpose or a motivator in life people end up getting trapped in mindless rituals. It keeps the reward circuitry in the brain from decaying.
This is such an odd answer. "People are bored so they become degens", is ... not the full picture, I don't think.
But who needs hobbies, or friendship, or nature, when you have TikTok!
Re: More men are addicted to the 'crack cocaine' of the stock market
#436Earlier quoted context omitted.
The SPY and QQQ charts zoomed out are starting to look like the biggest parabola of all time in markets. 1999 is just a blip on this monster. Seeing all kinds of warning signs from family members who never traded or got into crypto until just this past 6 months.
> Seeing all kinds of warning signs from family members who never traded or got into crypto until just this past 6 months. That's just jealousy, Those who sit on the sidelines complain the most. Like I said in my previous post if you didn't see it. I see it as that the barrier to entry for making money has never been lower. Right now, it’s one of the best times in history for anyone to start earning, not just the Wal…
> you could invest in a stock like NVIDIA, double your money in a week
NASDAQ: NVDA (3.09%) past month
Re: More men are addicted to the 'crack cocaine' of the stock market
#437Dunning Kruger IMO makes it quite likely that any substantial investment be a bit more like gambling than it ideally should be, as the difference really only exists in the amount of knowledge one has in the industry one invests in.
On the other hand, most financial advice also states that one should not keep more than X months worth of expenses in cash, otherwise one is still losing money on inflation and the likes.
EDIT: Then again, if you are staring at the tickers all day, that might still be a problem.
Re: More men are addicted to the 'crack cocaine' of the stock market
#438Earlier quoted context omitted.
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]
That's a 40 year old pretending to be 5 year old, not a proper 13 year old zo
Re: More men are addicted to the 'crack cocaine' of the stock market
#439Earlier quoted context omitted.
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.
Well, it’s harder then you’re letting on if your leverage costs 20%+.
Apple is up 40% this year, VOO is up 27%.
20% cost and you’re still ahead
Re: More men are addicted to the 'crack cocaine' of the stock market
#440At 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's normal for 13 year olds to have strong opinions on such topics - they have plenty of time to refine them or even change their mind.
I would be more worried about those who by this age didn't develop any interest in geopolitics - it affects them all the same but they typically don't understand why and pick whatever source tells a more compelling story.