Wow, what a week so far for GME and AMC. They've had a tremendous runup, which was very similar to the last couple of weeks of the crypto-currency run.
Unfortunately, we're seeing a lot of camps being formed. The Crypto camp. The Doge-coin camp. The meme-stock camp. The GME camp. To be honest, it's part of human nature, to feel like you belong to a specific group and are better than the others.
We see this in sports (go FC Liverpool!), countries (mine is best!), music (love band xyz), comics (DC vs Marvel vs all others) and many others. Sometimes it pays off to be focussed, but I believe in diversification. It's diversification that spreads risks and capture a-synchronous value.
My strategy, and advice that others have given, is to identify your targeted return (e.g. 5% per year, 25% per week), objective (e.g. income generating, long-term saving) and risk-tolerance (e.g. don't mind losing it all, this is all I have). Combine these 3 variables and don't just choose 1 asset. Choose multiple by listening to the different camps. Identify what you like and what you don't like.
Sometimes it benefits to be loyal, but don't become obsessed with 1 camp and ignore the others options you have.
I'm am investing in Crypto-currencies, GME and AMC.
