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I will never trust banks since they are for-profit companies, eg. I went out of Bitcoin as soon as big banks could short it. I appreciate small banks a lot more

I will never trust banks since they are for-profit companies, eg. I went out of Bitcoin as soon as big banks could short it. I appreciate small banks a lot more, but they don't have that much influence. But, I trade stocks and I recently traded etf's. It's high risk, high reward opportunity. But as all things, do not invest money you can't lose. Also, turbo's or multiplied etf's are dangerous for long term. Since a 3% rise is not the same as a 3% down in value ( you lose more) and a multiplier makes it worse. I don't know everything about etf's, I only joined shortly because the opportunity seemed there and I had some risk money. I do admit going in head over heels at the time, I've never held it for too long. None the less, would appreciate any insight any can have. It takes a long term to find actual valuable advice on etf's. A book recommendation would be good also.

airstrike 6y ago
> I will never trust banks since they are for-profit companies Banks don't have to be betting against you to make money. They can simply charge a markup or profit from the bid-ask spread if they're making a market.
- NicoJuicy 6y ago
  I know. But when you are betting on btc to rise and banks can short BTC, i went out of there. I was right, BTC had the first major decline arround that time. My guess now and then is that banks were buying BTC to make it drop when they want. PS. I went out BTC 3 times and started all over with the initial starting amount, so saying "betting on BTC to rise" is a bit exaggerated though. PS2. I'm talking about very big "banks" mostly, eg. JP Morgan or Goldman Sachs. When they give a public statement, i'm always inclined to think the opposite.
tathougies 6y ago
> I appreciate small banks a lot more, but they don't have that much influence. https://en.wikipedia.org/wiki/Savings_and_loan_crisis https://en.wikipedia.org/wiki/Savings_and_loan_crisis Small banks don't necessarily mean more stable or better banks

airstrike 6y ago

> I will never trust banks since they are for-profit companies Banks don't have to be betting against you to make money. They can simply charge a markup or profit from the bid-ask spread if they're making a market.

NicoJuicy 6y ago
I know. But when you are betting on btc to rise and banks can short BTC, i went out of there. I was right, BTC had the first major decline arround that time. My guess now and then is that banks were buying BTC to make it drop when they want. PS. I went out BTC 3 times and started all over with the initial starting amount, so saying "betting on BTC to rise" is a bit exaggerated though. PS2. I'm talking about very big "banks" mostly, eg. JP Morgan or Goldman Sachs. When they give a public statement, i'm always inclined to think the opposite.

tathougies 6y ago

> I appreciate small banks a lot more, but they don't have that much influence. https://en.wikipedia.org/wiki/Savings_and_loan_crisis https://en.wikipedia.org/wiki/Savings_and_loan_crisis Small banks don't necessarily mean more stable or better banks