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FOMO is one of the deadliest threats to sound decision-making. I bought some GME just as it dipped to $90, smacked myself back to reality and sold the same day
by atsushin 6y ago
FOMO is one of the deadliest threats to sound decision-making. I bought some GME just as it dipped to $90, smacked myself back to reality and sold the same day -- thankfully with a small profit. I'm dipping my toes back in with two shares at $70 but I'm not expecting anything to come next week. I think /r/wallstreetbets is going to be 'ruined' by its newfound popularity for the foreseeable future, we can already see the subreddit drama and disinformation in full swing.
- FeistyOtter 6y agoIsn't it what WSB is all about? Pick a stock, bet on it, and when you lose you post your loss porn to the subreddit? I assume people new to WSB will take this seriously, and it does pose a threat to the sub's health, but older members know exactly what they are getting into.
- guerrilla 6y agoThat was my view of it too. It really creeps me out that there are all these articles with "Should you take investing advice from reddit?" when WSB has never, as far as I know, been anything but high-risk fucking around for fun and profit (or loss.)
- rahkiin 6y agoThe sub, at least until 3 weeks ago, was all about showing losses and being called a retard because you lost hundred of thousands on some stupid bet. Of course there were some successes.
- deleted 6y ago[deleted]
- jedmeyers 6y ago> Isn't it what WSB is all about? I mean, yeah, the "bet" is even in the name.
- aahortwwy 6y agoThe vast majority of WSB members weren't on the subreddit two weeks ago. At this point it may as well be a completely different community.
- tourist_ 6y agoTo put this in context, the member count went from (at most) 1.5M to 8.5M within weeks. No wonder it got crazy out there.
- EQVEYWDCHQ 6y agoIt was also a completely different community at 50k vs. 500k etc. At that point it started hitting /r/all consistently.
- pjc50 6y ago/r/all does immediately ruin the subreddits that appear there.
- yongjik 6y agoI don't know exactly what WSB is all about, but there are way too many people who seriously think this is some kind of popular uprising against evil hedge fund to take back the profit they deserve. (Or at least there were, until a few days ago.) I don't think they'll like "Bro, it was always about making fun of how much money you lost."
- rvz 6y ago> I think /r/wallstreetbets is going to be 'ruined' by its newfound popularity for the foreseeable future, we can already see the subreddit drama and disinformation in full swing. It already is ruined. Given the influx of media attention, new users, bots and the GME after-party of bag-holders who missed the ship. The 'actual' old members (who got in early as $5 - $20) are already gone with their gains. Now it's just full of latecomers who bought as high as $200 - $465 posting screenshots of losing their entire life savings. The subreddit already had users pretending and memeing to be idiots until the real idiots came in and those posting screenshots of their huge losses with their life savings with disinformation, ape emojis, 'diamond hands', 'hodl' as the stock fell etc. Not only they didn't know that they have become a meme, They are now going to be featured in the new WallStreetBets movie. Won't be surprised if they called it 'Diamond Hands' or 'The big short squeeze'.