- 25 Jan 2022 18:28
#15208840
I don't mean this in a "lose your money you bastards" kind of way, well not completely, as I have some money myself and have lost some of it so far. The biggest hits have been taken by crypto investors (all crypto currency is a scam because none of it is backed by any physical power from a state), meme stock holders (also a scam; "hey let's invest in this brick and mortar video game store instead of Apple") and those who were really deep into aggressive growth ETFs like TQQQ, which I was literally about to invest in right before the crash started. As in, I was about to buy a large amount of TQQQ but then my cab showed up early.
This isn't to say that I've been a blessed trader this year. I tried to stay away from meme stocks and crypto because I thought they were scams, and those who stayed in them too long have lost 50% or more of their money, but this year everyone put their money into those things more than into regular things. As such, I made very little money in 2021, after making a ton of money in 2020. That's what you get for attempting to be a "principled trader" in a historic bubble economy I guess.
With that wall of text behind me, I'm actually kind of glad that the market is crashing and that rate hikes are coming. Although I've lost some money so far, but nowhere near as much as I might have, the upcoming rate hikes and further market crashing might return us to a market that actually makes sense, where investments are based off of what a company actually does and not if it has a funny stock ticker like BBW, or the painfully false morality of how buying Gamestop stock somehow hurts "hedgies".
This isn't to say that I've been a blessed trader this year. I tried to stay away from meme stocks and crypto because I thought they were scams, and those who stayed in them too long have lost 50% or more of their money, but this year everyone put their money into those things more than into regular things. As such, I made very little money in 2021, after making a ton of money in 2020. That's what you get for attempting to be a "principled trader" in a historic bubble economy I guess.
With that wall of text behind me, I'm actually kind of glad that the market is crashing and that rate hikes are coming. Although I've lost some money so far, but nowhere near as much as I might have, the upcoming rate hikes and further market crashing might return us to a market that actually makes sense, where investments are based off of what a company actually does and not if it has a funny stock ticker like BBW, or the painfully false morality of how buying Gamestop stock somehow hurts "hedgies".
Lmao, I guarantee you no fund manager is driving an ETF based purely on spite. -- some guy out there actually believes this.