12-22-2021, 08:12 PM
(12-22-2021, 07:36 PM)ken-do-nim Wrote:It was a casino with free stimulus money poker chips. Some of them were actually up for months, then they just kept doubling down, buying extremely speculative options, using margin etc. I sold them some of those options. I read their questions on forums and they clearly had no earthly idea how options work.(12-22-2021, 05:08 PM)fenders53 Wrote: Having said that, the million kids that lost their entire port on YOLO plays the past two years couldn't do any worse than flat busted.
I can't understand why people mess around with speculative stuff when companies like Apple, Microsoft, and Nvidia exist. Sure I'm guilty of triple leveraged ETFs, but I'm just leveraging those exact amazing companies.
Scooter - good one! I get a fair amount of calls from Financial Advisors too, and I try to be polite but I believe that investing is too important a skill to acquire to let someone else do it. Like, no one else can do push-ups for you and make you strong.
I do know of a few online advisors that are very highly respected. After they set you up, help you adjust your port once or twice a year for $99. Quality websites, available to chat if you get scared. It doesn't take too long to lose $99 if you don't know what you are doing. Yes ETFs mostly but there is nothing wrong with that for most people. No I don't need that service but it's better than getting ripped off on much larger annual fees by Edward Jones etc. I can lose $99 in 30 seconds if I make a mistake. Pretty sure you can too Ken.
