01-08-2022, 11:32 AM
(01-08-2022, 11:13 AM)Scooterd Wrote:It probably bothers me more than it should. One Youtube content provider in particular is doing so much harm to thousands of followers. He is recording in the garage of his brand new home in Vegas. He has three Teslas behind him and two of them are high end models. His only job is Youtube. He got TSLA right and his last 12-15 picks since then are trash. He hypes them with 2-4 videos a day. Somehow he still has some sheep and keeps buying shares with their money. People pay him $2K for online courses and his analysis is ridiculously shallow. It's a train wreck I can't stop watching. Most of these young people will give up on investing and deem the market as rigged for a decade or more. It's dirty all right but they are acting gullible at an extreme level. He actually is transparent and they remain inspired he keeps buying shares of garbage. They don't seem to realize they are paying for the shares. Most of the content providers faded a way last year but many remain hyping crap that will mostly be BK in 24 months or less.(01-08-2022, 10:03 AM)fenders53 Wrote: As I oft mention I watch a lot of youtube financial channels. It's been so painful watching content providers make literally $500K (or even a million) to lead the kids off a cliff with speculative plays. You couldn't lose in 2020 and they gave it all back starting about 9 months ago. Averaging down on trash with their last investment dollars, or worse yet they even borrowed some money. If they were lucky they bought some F, but mostly just a port of junk that won';t sniff a profit for years if ever, and diluting the followers into oblivion. And I act like this scam is new. It isn't.
I Look at these YOLO, FOMO, (Had to ask my youngest nephew what the acronyms meant) Diamond Hands comments I occasionally come across , and mostly just shake my head. Thank the Lord with the help of our collective family we have both my nephews started on the right path with savings, investing, use of a credit card, balancing of a check book etc...
As a family we started early teaching them. Even their Mimi (Grandmother) got involved and helped guide them to set a solid footing. I feel sometimes for some of these young kids that just don't have that level of support. Sometimes it does indeed take a village!!.