I may get a truck load of downvotes for this, but I really think this is important to acknowledge.
The sheer amount of terrible advice and lack of knowledge in this sub is astounding. Sure, a lot of you are very knowledgeable and make great contributions, but for every one of those people it seems there’s 3 that have no idea, and unfortunately those 3 usually shout the loudest. It’s dangerous for people new to investing that are reading these threads.
I am no expert, I don’t claim to be an expert, and freely admit that there is a lot that I don’t know. Yet, I can confidently say that a lot of people in here either don’t know or understand basic finance/ economics, or (perhaps worse), do know better but completely ignore their knowledge.
Now, I’m not tell you to think either which way. I am a staunch advocate for people making decisions based on logic, facts, and REALITY. I’m not fussed what your opinion is, as long as it’s based on reality.
So please, if you’re a newcomer jumping in to equities markets because of recent, all time highs (bar the past 2 days), where valuations are sky-rocketing all over the place, don’t make any big financial decisions based on what DragonLord123 says in a reddit thread. You need to look beyond the flashing numbers on a screen and decide if those numbers are justified.
I think it’s absolutely no coincidence that so many finance experts seem to appear while markets are at record highs and there are eye watering valuations across equities markets. A whole host of people here have just received their fresh Finance degree from this mornings cereal box. After looking at stock tickers for 2 weeks and nothing else, they’ve decided now is the best possible time you could buy into equities and they’re ready to advise others. Buy high, sell low, right? .....right?
Everyone’s man, their dog, and their grandma is piling into equities markets over the past month, just because prices have rocketed. Spoiler alert: that’s a great piece of evidence that perhaps now, more then ever, you should think about what you’re doing before you do it, and maybe get some real advice.
When the shoeshiner is giving you stock tips, take a step back and consider the scenario.
Submitted February 24, 2020 at 06:57PM by _charge_your_phone_ https://ift.tt/2PkMeZq
