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Does this remind anyone else of the high APR (20-30%) credit cards offered to college students? I remember a table set up outside the main dining hall where the
by drewburg 5y ago
Does this remind anyone else of the high APR (20-30%) credit cards offered to college students? I remember a table set up outside the main dining hall where they pitched getting started building that credit history ASAP.
Now it's about building that portfolio ASAP and offering it to the most risk-tolerant age demographic. Subtly updated buying whatever you want on credit and worrying about whether you could afford it later, to buying into whatever risky position you want and worrying about covering it later.
- rfd4sgmk8u 5y agoNo? Because high APR cards are a trap to leech money from the young -- eg debt. Investing in growth assets like stonks is building assets. Very very different things!
- pavlov 5y agoIf you’d bought a portfolio of the 2000 class of stonks, most of those equities would now be worthless or acquired for pennies along the way. There were very few Amazons in the mix, and very many Palms. Even a reliable blue-chip like Cisco is still underwater compared to its March 2000 price.