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Originally Posted by PilotMan
When my 18yr old is talking about how he can make thousands options trading because his friends are talking about it there are red flags. I told him, that the quick check cashing places are more than willing to give him cash advances too, but that they didn't care if he couldn't pay it back on their terms. I said Robinhood will give you all the rope you need to lynch yourself, it's not worth it, he saw my point.
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This is funny. My son texted me last night asking what I thought about Gamestop. I told him don't do it, there was manipulation going on and he would get burnt. This is the kid that got into Tesla like 3 years ago and hasn't sold that yet. I was reassured that he asked me first.
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There's a feeling in the market that resembles the point prior to the last couple recessions and market collapses. The feeling that you are always going to win, the disconnect from the greater economy. It's got me very ready to pull the trigger on some of my gains the first hint it starts to stagger.
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Yes, I agree. I have <10% of portfolio in what I consider speculative (ARKK, ASHR, GBTC, SPCE etc.). The rest is in what I consider pretty solid and know they will rebound over time.
Not going to try time the market though. In retrospect, I think I would have known when to sell last year when the Pandemic hit. But I'm pretty sure I would not have known when to get back into the market.