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For those without golden parachutes at least, the golden rule of trading is never to invest more than you can afford to lose. You may not win big, but at least you won’t lose everything like OOP
and recognize it for what it is: gambling on whether some dudes think this company is worth more today than yesterday.
if you were gambling on what some dudes thought about an egg you’d take it a lot less seriously.
Interesting in stocks with a one day horizon, you’re right, it’s basically gambling. Over ten years though, different story.
But… But… It’s a Fabergé egg!
I disagree that investing in the stock market is gambling with the caveat that many people treat it like gambling.
What I mean is that boring, defensive trading is a fairly predictable thing. Boring, stable and mature companies are typically safe investments that do grow over time and are a good way to protect yourself against inflation.
The issue is people want to maximize returns, even if expectations are unrealistic, and make risky gambles at unwarranted expected returns. Look at a company’s profit, expenses, history and dont expect the future to be ideal for big returns.
Boring, defensive poker is still gambling.
Also, after investing whatever you can afford to lose, forget about it for a long time. If stocks (at the level most investors can even think about buying) are going to pay off, it’s going to take a while.
Espescially if you are leveraging the market and don’t have the EU protection laws.
In my opinion, these are the exact types of people who would fall into crypto and NFT scams. The guy sounds like a desperate working class person wanting some money. The lavish promises of absurdly high profits are usually what keeps these people gambling their money away on the capital market. Do not use the capital market for gambling and be conservative with risk. For a private person it is not worth it. IMHO.
Yeah when you’re struggling and you realize the only thing between you and the preem life is like 10 000 dollars startup capital
Not saying the game can ever be won, but just speaking logistically, low and slow is a better bet in the long term
I mean unless you’re rich ofc
You absolutely shouldn’t be borrowing money. The stock markets are ok as long as you have some realistic expectations and you don’t overextend. But people always over extend.
Yeah my brother-in-law was a bit like that. Is fortunately grown a brain since they got a kid.
I have no idea why he believed that he would be able to get free money somehow. That’s the one thing life teaches you is there is no such thing as a free lunch and if somebody is trying to tell you there is then they’re trying to scam you. Or they’re just stupid.
It’s exactly the same with pyramid schemes, the people who can afford to be in pyramid schemes are generally savvy enough to not get involved in them. It’s only the people who find life to be eternally difficult that seem to be convinced by them.
That’s bc some people made it big on a chance, and others hopped on the bandwagon. I made a little in crypto, even after some losses, still came out way ahead. Took half the gains bought others. Let it sit. Not everyone is/was so lucky.
That’s an American modification. Here’s a more accurate translation, conveniently without a double negative:
I told my wife yesterday
She cried all day long.
Since I’m the sole breadwinner
I know it’s crazy, but I wanted to have a baby and live a cozy, happy life together.
Even if it’s not a total life turnaround, I just wanted to catch a break
I tried investing with borrowed money, but completely fucked it up
I somehow managed to comfort my wife
We decided to just struggle, just the two of us, without having children
and just live paying off our debts.
I’ve scheduled my vasectomy for next week, so I can’t take any more questions.
I tried my best to have the original feel to the translation. Your’s is more accurate though.
I’m in the same boat, except I’m supporting my parents and brother is why I will never be able to afford to have kids.
That’s gracious of you. Maybe too gracious
Yeah, I think it is very noble, but… like…
I have this friend. Grew up poor. Parents divorced. Dad abused him. Mom was an alcoholic. But he made it out alive and got married to a girl. They live in the same podunk rust belt town they grew up in, working at walmart. They aren’t dumb. They aren’t lazy. But whenever they think about moving, its “oh, but I still have to take care of mom - her schizophrenia is flaring up again and her hoarding is getting out of control.” “gotta stick around for dad - he’s getting heart surgery and needs our support” “gotta help out my FIL, since he went senile and is now on the run from the law for looking at CP on the computer in between cancer treatments.”
I, meanwhile, graduated high school, walked out the door, and haven’t returned to my home town or seen my parents probably more than a dozen times since, and am much happier with my life.
That’s just how it is to come from a poor family who loves eachother. People who are from a more comfortable background don’t get what a privilege it is to have family that is just financially OK. I can barely imagine life without that weight.
I have the passwords to every single of my parent’s accounts and get every bill reminder in my inbox.
PS. Realising that I’m privileged to have a family who loves me ofc. They set me up well emotionally, but hoooeee I am never having kids or flying on an airplane, that’s for sure.
Play stupid games…
Very funny, but also extremely depressing…
Very well regarded individual.
