The robinhood rally continues
- Thread starter dealmaker
- Start date
I am old enough to remember the dot com bubble days. In 1999, my friend gave his then high school son $5K to invest. The kid day traded dot com stocks and by early 2000 took the account to >$100K. Friend told us he would give his life saving to his son to trade and retire. By early 2001, kid lost everything and then some.
There are similar stories every generation.
That's because they are not actually trading, everyone can make money in a market that is going straight up by just buying and holding.
They probably honestly believe they are the new best trader out there and can beat every firm out there.
When they realize it's not actually that easy when the markets starts going down, they lose it all.
I'll never forget this....
I was on a flight to Asia somewhere around 2000.... we were droning on through the middle of the night and the FA engaged me and the conversation turned to stocks. Go figure. She told me her husband and her were on track to be multi-millionaires within a year or two. I told her to be careful buying all these high flyers with no earnings because there's a certain universal financial physics out there and this wouldn't last. She flat out told me... and I quote.... "you just don't understand how the stock markets work".
I smiled, (rolled my eyes), grabbed my cheap ass blanket and their bs pillow... and settled in for a nap.
I'll never forget it.
Don't laugh, I am in the same boat now.
Since 2013, bet on the raging bull market with options. Worked so far. But I will not confuse my skills with the bull market. A lucky guy is no options expert.
Best regards,
And then there is Mark Cuban. His company Broadcast.com with revenue of $13M was acquired by Yahoo for $5.7B in Yahoo stocks. He hedge his stocks and kept most of his $B, the rest is history. That is why he is my hero.
We all can learn something from him.
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Dont really know the answer to your question dealmaker;
LUV has had some good trend. But so much money has been lost on long airline positions/LOL............................................................................................
We hear this everrrrrrrrrryyyyyyyyyy single time markets rise, about how you can't find any return anywhere else but equities and then here how many trillions are on the sidelines ready to enter the market. Tired of hearing this garbage. It means absolutely nothing. I heard this for over a decade and even in February when they said how the retail investor was still sitting out the market rally. You think after a 40% collapse and a nearly a 50% rally that this money is just going to enter into the markets???? Absolutely not. Retail investors aren't the same retail investors as they were years ago.
There are plenty of stories like this from the past 20 years and I never get tired of reading them over and over again.