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There are enough people like this where for better or worse, keeping up with these hype trains has become a solid investment strategy. Imagine getting in early
by asdff 3y ago
There are enough people like this where for better or worse, keeping up with these hype trains has become a solid investment strategy. Imagine getting in early enough on BTC, or DOGE, or AMC, or GME, or NVDA, or whatever comes next instead of cynically scoffing it off (for valid reasons) on its fundamental merits. You'd be singing a different tune I'm sure after it explodes and you've cashed out leaving the zealots on whatever subreddit holding the bag.
- JKCalhoun 3y agoI've wondered from time to time why I never could find it within myself to become a street preacher.
- 082349872349872 3y agoSurely you could find it within yourself to become the Life of Brian boring prophet? https://www.youtube.com/watch?v=QqaQ_Bhgmrc https://www.youtube.com/watch?v=QqaQ_Bhgmrc
- 10000truths 3y agoRelying on the greater fool theory to make your money only works until it doesn't.
- asdff 3y agoYou can replace greater fool theory with any sort of investment strategy and your sentence is still very valid. The key is to just not over leverage yourself where you will get burned with one strategy. Never invest with money you can't afford to lose.
- pixl97 3y agoThe boom/bust cycle. As they say, the hardest part of the market is timing.
- VelesDude 3y agoExactly. Also for that half dozen successes listed before, there could have been thousands of options available at the time that only look silly in retrospect.
- andrewflnr 3y agoI don't know, if you get out early enough and only invest a portion of your previous winnings into the next cycle, it only has to work long enough for you to build a decent nest egg. But I suppose the average cycle chaser doesn't think like that...
- dotnet00 3y agoI don't think NVDA fits in with those, their rise makes typical business sense, and has made sense most of their existence, unlike the others.
- wavemode 3y ago"Solid investment strategy" implies one could make money applying this idea consistently. There's a hundred new "next big thing" ideas every year - most of them amount to nothing.
- Lalabadie 3y agoMy first impression about this is that your examples lean a lot on survivor bias. However, with deep enough pockets, you can indeed invest in a thousand hyped things, avoid the worst ones, and see if one or two of these sucker magnets is a moonshot. And suddenly we're describing traditional venture capitalism. To get rich, you just need to start by being rich!