I don’t wish on anyone to lose money. But there is something satisfying in seeing the market functioning properly again after 2 years of being in a casino. Some of it looks overdone, some of it is much deserved.
Rihard Jarc's avatar
Curious what is your cash position right now and if that influences your view ;)
Golden Lake Partners's avatar
@rihardjarc a fair % & it does impact my view to some extent
Steve Matt's avatar
Ah yes, the classic I don’t wish anyone to lose money but they deserve to lose money trope.
Golden Lake Partners's avatar
@interrobangbros If that makes you feel better, I lost a lot of money on crypto over the last couple of days
Steve Matt's avatar
@goldenlacllc I just disagree with you that it's satisfying to see markets coming down from crazy highs because it's retail investors who are getting destroyed and losing their money, and to say it is satisfying is pretty mean-spirited, even if you try to veil it with 'I don't wish it on anyone'. Those retail investors have obvious blame for the losses. Accountability is key in all aspects of life. But they may never participate in the market again, one of the few proven ways to build actual wealth. And that's just sad.
Eric Messenger's avatar
It drives me nuts how many people I work with got into crypto (same happens with stocks) and got crushed, cause they had zero idea what they were doing or how markets function, and they want out and think it’s a scam. Then tell people forever they tried it, it didn’t work, etc. People and their get rich quick ambitions. If people weren’t so adverse to picking up a book, Goodwill could save them fortunes. I got 100% of my actionable knowledge over the last 10 years from thrift store bookshelves for $0.50 a pop. Nope, people would rather follow last years results and take the “easy road”, then wonder why they got crushed.