3 ms·
In the smallest version of this... My weekly poker group talks about stocks and crypto often. It's a mix of guys who work in tech and engineering and a handful
by AlwaysRock 4y ago
In the smallest version of this... My weekly poker group talks about stocks and crypto often. It's a mix of guys who work in tech and engineering and a handful who just want to get rich quick. We've all bought a few yolo stocks and coins together and 100% of the time the investments have gone to zero or close to it.
Thankfully no one in the group is dumb enough to go all in on this hyper risky investments but I can see how it would be easy to be talked into something if you're in an echo chamber.
Before anyone gets too worried I'm talking about spending a few hundred dollars each on stupid investsments over the course of a few years.
- bombcar 4y agoThe danger is when they don't go to zero, and you suddenly thing you're stock picking geniuses - or you then decide to put it all in on the next one. https://en.wikipedia.org/wiki/Beardstown_Ladies https://en.wikipedia.org/wiki/Beardstown_Ladies
- seoaeu 4y agoAmusing quote from that page: “This revelation led to a class action lawsuit against publisher Hyperion, a division of The Walt Disney Company, which settled the case by offering to swap the Beardstown Ladies books for other Hyperion books.”
- bombcar 4y agoConsidering I'd estimate something like 99% of investment book purchases are "for entertainment purposes" (i.e., the buyer either doesn't read it, or never bothers trying to implement any of it) this may be a decent option.
- cjbgkagh 4y agoA common strategy for binary auction scams is to rig the market in your favor so that you think your a genius and then you go all in. Then they rig the market against you or simply block withdrawals.