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

wsj.com

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

#471

Post by bell-cot »

navs wrote: post #343

I lost my life savings chasing the dopamine hit and can relate to this. I'm in my mid 30s and suffering from career burnout. I know I can't afford a home when I can barely work full-time so I figured I'd trade. I was up, and up and up! Then I was down, then up, then down. One morning I woke up and I was so down, I sold out of fear. Now I'm left with so little I might as well be starting from scratch. This feels like…

My experience, with a wide variety of generally older friends & associates & such -

If they're talking about an occasional visit to the casino, people will be up front about the fact that they walked into the place with $X in their pocket, and walked out with $Y. Almost always, $X > $Y.

If they're talking about stocks they've bought, people will be incredibly selective, and describe only some of their greatest successes. They could lose money in a rising market, and you'd have to carefully question them to even realize that fact.

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

#472

Post by sangnoir »

daseiner1 wrote: post #444
sangnoir wrote: post #416

Earlier quoted context omitted.

You don't gave to be particularly motivated to get predigested opinions from influencers. There's too damn many boys and young men echoing how the "Matrix" keeping them down

Sure, but that has little to do with age. To rephrase in terms of an older crowd, there’s too many damn 60+ year old men parroting what they hear on conservative AM talk radio. But there are, nevertheless, 60+ year old men with well informed and well considered opinions.

Yes.

As you noted, the first[1] batch of mass-media "influencers" were AM Radio hosts, then came cable infotainment , and now vloggers.

1. Perhaps preceded by syndicated newspaper columnists, but there was an editorial filter for those.

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

#473

Post by BobbyJo »

rqtwteye wrote: post #370

After losing my first chunk of cash during 2000 .COM crash I became be quite contrarian. Thought real estate is way too high, thought the stock market is nuts, bitcoin is a scam. Turns out the big crash never happened and everything ket going up. Three years ago for some reason I jumped into the stock market, bought a house, bought some bitcoin. Turns out so far the gains have been life changing. If I ever get laid o…

Same. Friends who just threw money at stuff are millionaires, and I'm... not. Hard to just put the money in and expect more back when it took so much hard work to get in the first place.

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

#474

Post by DonsDiscountGas »

rqtwteye wrote: post #370

After losing my first chunk of cash during 2000 .COM crash I became be quite contrarian. Thought real estate is way too high, thought the stock market is nuts, bitcoin is a scam. Turns out the big crash never happened and everything ket going up. Three years ago for some reason I jumped into the stock market, bought a house, bought some bitcoin. Turns out so far the gains have been life changing. If I ever get laid o…

If you haven't already, now might be a good time to sell some of that bitcoin

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

#475

Post by unyttigfjelltol »

habosa wrote: post #247

Many 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…

We'll look back and see with clear eyes the transient phenomena that made strange and magical meme stocks and unicorns what they all were. Somewhere in the last 50 years stock investing turned from green-eye-shade economic analysis to a social phenomena that couldn't be bothered with dividends and profits.

I go to the supermarket and milk is on sale, I buy two. But momo clowns go and see milk is on sale and they try to sell the milk they have on hand back to the store. They don't act like the products they buy have fundamental value, because in many cases that value was inflated wildly beyond justification long before the trader ever got started.

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

#476

Post by [deleted] »

navs wrote: post #343

I lost my life savings chasing the dopamine hit and can relate to this. I'm in my mid 30s and suffering from career burnout. I know I can't afford a home when I can barely work full-time so I figured I'd trade. I was up, and up and up! Then I was down, then up, then down. One morning I woke up and I was so down, I sold out of fear. Now I'm left with so little I might as well be starting from scratch. This feels like…

[deleted]

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

#477

Post by DonsDiscountGas »

itake wrote: post #439
djsnoopy wrote: post #414

Earlier quoted context omitted.

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

Yes if the market goes up a lot you win. That's generally how leverage works. The problem is when it goes down. Or, if you're borrowing at high interest, doesn't go up quite as much. (Which leads to many people selling, which drives the price down, which leads to selling, and so on).

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

#479

Post by boopk »

DonsDiscountGas wrote: post #474
rqtwteye wrote: post #370

After losing my first chunk of cash during 2000 .COM crash I became be quite contrarian. Thought real estate is way too high, thought the stock market is nuts, bitcoin is a scam. Turns out the big crash never happened and everything ket going up. Three years ago for some reason I jumped into the stock market, bought a house, bought some bitcoin. Turns out so far the gains have been life changing. If I ever get laid o…

If you haven't already, now might be a good time to sell some of that bitcoin

okay I don't comment on here often, can check my post history, but absolutely would not sell your bitcoin any time soon considering we have a pro crypto president and have an approx 40% chance of a bitcoin strategic reserve within the first 100 days. terrible advice tbh.

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

#480

Post by Apocryphon »

unyttigfjelltol wrote: post #475
habosa wrote: post #247

Many 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…

We'll look back and see with clear eyes the transient phenomena that made strange and magical meme stocks and unicorns what they all were. Somewhere in the last 50 years stock investing turned from green-eye-shade economic analysis to a social phenomena that couldn't be bothered with dividends and profits. I go to the supermarket and milk is on sale, I buy two. But momo clowns go and see milk is on sale and they try…

I mean, it’s widely understood. There was deregulation in the ‘80s that kicked off the financialization trend (along with private industry customs being invented like Jack Welch’s whole chasing shareholder value uber alles shtick), and then the interest rates cuts in the wake of the 2008 recession (and then again during the pandemic) superheated this kind of behavior.
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