Your Father's Stock Market is Never Coming Back

[DrRoy]

Paywall

Try Googling the title. I found it in the clear.

 

[Andre1969]

There was kind of a similar event in the 70s TV show Barney Miller. Some guy liquidated everything to fully invest his gold, and Barney helped his wife convinced him to back out of that. I just verified the timing. That episode was aired 5/11/78. Gold hit a peak in Jan 1980 that wouldn't show again until 2008.

Funny, that Barney Miller episode was on just the other night! I never watched that show religiously, but liked it enough that if an episode caught my attention I'd usually stay tuned. I caught it towards the end, and was curious enough, that I DVRed it.

 

[jim584672]

They are the only generation to figure it all out, we were just all dumb. Meme stocks and crypto are the path to infinite riches!

The Gamestop thing is especially absurd. Their theories of how markets work shows they have no clue about actual facts. Elon has apparently betrayed them now because he said Doge was a hustle on SNL and crypto has been suffering since. This will end the hard way for them, as it always does in history. AMC is the next flavor of the minute.

 

[finnski1]

I think he meant $5400 not $54,000. It’s volatile but not THAT volatile!

I doubt it was even $5400. At $3000 in and out the same day (yesterday ) the most it moved was about 4%. that would be a max of about $3120 or so yesterday Now I'm no expert on Bitcoin and there may be a way to use leverage somehow that I'm unaware of?

 

[audreyh1]

I’ll never forget the ad “He’s got money coming out the wazoo!”

E-Trade Super Bowl 2000 commercial.

That certainly seems like a bell ringing at the top!

 

[ExFlyBoy5]

I doubt it was even $5400. At $3000 in and out the same day (yesterday ) the most it moved was about 4%. that would be a max of about $3120 or so yesterday Now I'm no expert on Bitcoin and there may be a way to use leverage somehow that I'm unaware of?

Or perhaps the amount he [-]invested/got in return[/-] gambled was inflated a little bit? [-]Investors[/-] gamblers do that sometimes.

 

[cxr133]

I doubt it was even $5400. At $3000 in and out the same day (yesterday ) the most it moved was about 4%. that would be a max of about $3120 or so yesterday Now I'm no expert on Bitcoin and there may be a way to use leverage somehow that I'm unaware of?

Yeah nevermind getting the details now . the text was over IG i guess his account got hacked and he got scammed and im trying to figure out how much money he actually lost

i dont know the whole scam but seems like a PONZI scheme he invested some money with somebody online. they deposited 3,000 into his account but told him he would have immediate access to 54000. i dont know what happened from then on but it seems like he went to the bank and may of taken about 8-12K cash and turned it into bitcoin and sent it off

 

[ExFlyBoy5]

Yeah nevermind getting the details now . the text was over IG i guess his account got hacked and he got scammed and im trying to figure out how much money he actually lost

i dont know the whole scam but seems like a PONZI scheme he invested some money with somebody online. they deposited 3,000 into his account but told him he would have immediate access to 54000. i dont know what happened from then on but it seems like he went to the bank and may of taken about 8-12K cash and turned it into bitcoin and sent it off

Oof...that's a bad deal. This is a great example of what crypto is REALLY good at doing...getting people ripped off.

 

[FIREarly]

The Robinhood crowd is no different than the Dot.com bubble, IMO. E-trade had the Robinhood role at the time, I had an E-trade account

Buy Gamestop?
Buy AMC?
Buy Dogecoine?
Obviously only right before positive tweets about it from Elon M.

 

[CardsFan]

Buy Gamestop?
Buy AMC?
Buy Dogecoine?
Obviously only right before positive tweets about it from Elon M.

Time to sell everything! Just kidding.

But I saw a neighbor at the pool this weekend, and he was touting AMC because his friend with the tattoos (his words) told him it would run up. And it did, and came back down, and ran up a little.

This guy is not dumb. He is a high school teacher (not that they are mutually exclusive).

Just a thought. When the novice investor at the pool says BUY, maybe I will just sit pat.

 

[HI Bill]

Time to sell everything! Just kidding.

But I saw a neighbor at the pool this weekend, and he was touting AMC because his friend with the tattoos (his words) told him it would run up. And it did, and came back down, and ran up a little.

This guy is not dumb. He is a high school teacher (not that they are mutually exclusive).

Just a thought. When the novice investor at the pool says BUY, maybe I will just sit pat.

Or maybe it's time to short? LOL

 

[slagle]

I didn't read this entire thread (sorry), but wanted to mention that one thing I noticed among the super-active "retail traders" is that they often scream the sky is falling when a mere 2-3% down-day occurs in a major index.

Buying volatile stocks, crypto, options, etc. makes for a roller coaster ride. Any reasonable long term investor is comfortable with the ups and downs of holding things like VTI.

I'll be interested in how much we'll be talking about this after a 20% downturn, or rather, these successful speculation stories.

 

[Freedom2021]

I agree...I saw an article that the "NFT" (non fungible token) game is falling on it's face already.

Naw, that can't be! /s Paris Hilton just made a deal with Origin.
If anybody can squeeze some good bucks out of NFT it is her.

Trusted Global Influencer - I believe in Paris Hilton, she's got the golden touch.

It would be a fun bet with some minimal play money - like the crypto kids say:
'To the Moon".

I'm old I don't quite understand the possible appeal of NFT but a generation used to buying virtual game pieces obviously has no trouble buying "one of a kind" virtual art.