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I am not a banker either but, "a lot of those are professionals manipulating the market" isn't how I would characterize it. More like, a few of those are profes

I am not a banker either but, "a lot of those are professionals manipulating the market" isn't how I would characterize it. More like, a few of those are professionals, and the rest are more along the lines of newspaper boys. So many of my friends have huge sums of their savings in stonks and crypto are proudly ignorant of how any of these things work. So far their antics have worked out very well for them and they've received very aggressive returns, but I am honestly worried for them. Their success has reinforced a dangerous mixture of risk taking + ignorance. How long can that be sustained? I am sure the few professionals on reddit are up at night sweating about this stuff and have escape hatches, but I am not so sure about the rest.

galaxyLogic 5y ago
It is dangerous when the value of your stocks goes up. You start feeling good not about the stock, but about yourself. You start thinking you made that money .. why? Because you are a smart guy. Even if you rationally know that you were just lucky, it gives you the confidence that you know what you are doing. It is just human psychology, when you succeed you think it is because of how great you are. And similarly when your stocks fall you don't feel so good about yourself any more. I see this in myself as markets go up and down. I assume it is the same for most people.