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This is what I tell myself, but I continually hear stories (friends of friends, of course) of people hitting it big and wonder if I just don't get it.
by krober 15y ago
This is what I tell myself, but I continually hear stories (friends of friends, of course) of people hitting it big and wonder if I just don't get it.
- beagle3 15y ago> I continually hear stories (friends of friends, of course) of people hitting it big and wonder if I just don't get it. For every hitting it big, there is an opposite (and often larger) story of losing it big. Often by the same people -- except they are happy to tell you about their wins and don't talk so much about the losses. It's not even a zero sum game -- the fees and spreads ("friction") are non-trivial.
- krober 15y agoGreat point, even then I'm taking people at their word. There's no shortage of hyperbole when people talk about "some guy I know".
- driverdan 15y agoSelection bias. You'll only see news about the extremes. You'll never see news about the average person who loses money or makes less than the market.