I don’t always invest soundly, and when I don’t, I prefer r/wallstreetbets. Just kidding. I did invest poorly and it’s because I broke several of my investing rules. I’d like to share my lessons relearned and why crypto is the solution to this stock market madness.
*Disclaimer: This is not financial advice and is purely for entertainment purposes.*
I was foolish enough to get caught up in the hype and throw a bit of money into AMC during the latest stock crazes happening with wallstreetbets on Reddit encouraging investors to invest in several stocks being short squeezed. Without getting into technicals, essentially, there was some money to be made, but it could also be risky. Then when Robinhood halted trading on some of these stocks, people began to accuse them or the fund running these trades of market manipulation.
There are two lessons to learn here. For me, it’s to continually stick to my investing rules and guidelines and to invest in what has been successful so far without trying to place risky bets and trying to “get rich quick.” I was getting greedy and needed to relearn this lesson especially with what is to come this year for Bitcoin.
The second lesson is that the concerns about stock market manipulation are now more real than ever and cryptocurrency is becoming the ultimate solution. Whether it’s just having more trust in exchanges, using decentralized exchanges, peer to peer, or just holding cryptocurrency in your own wallets, you have all the control without big investors’ ability to come in and mess with your investments.
This is the link to my last video that I did on rules for investing: https://lbry.tv/@ScottCBusiness:4/Investing:d
I will remind everyone that I am an amateur investor and I do make mistakes as well. I wanted to share this story with you because even though I only lost a small amount relative to my overall portfolio, anyone can make these mistakes and that’s why it’s important to stick to your investing strategy. I also don’t only want to show you my wins. By seeing my losses as well, you will see that I can make these same mistakes too and that it’s an up and down journey to the top.
How are you investing? Did you invest in any of these stocks before they went up? What do you think about this situation with Robinhood and the SEC? Is cryptocurrency the solution to this problem? Let me know what you think about this in the comments below and don’t forget to subscribe!
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