Reverse Wealth Transfer on Steroids
thereformedbroker.com
thereformedbroker.com
The Compound
Doom scrolling and anxious FOMO will ensure your continued mysery.
"...a New York City-based financial advisor at Ritholtz Wealth Management LLC. I help people invest and manage portfolios for them."
Also: markets are [once again] at all time highs, if he _was_ giving investment advice, I'd hope it sounded like "don't buy the top".
Most sound investing advice specifically says not to invest until you have enough liquid savings to withstand an emergency - keeping in mind that the biggest emergency one might face is usually losing your job. If you don't have that saved up - or worse, are already unemployed - securities are actually a really poor investment due to their volatility. A professional skill doesn't "go down" in the same way that a stock can go down.
If you are financially secure for the time being, then buying stocks is a good idea, as you can stick that in a tax-advantaged account for retirement. Large index funds are good for this specific purpose because you don't have the risk of an individual stock getting wiped out. You can hold onto it for a long time and get your few-percent-per-year ROI.
The explicit reverse, and the content of the article, suggests an author responding to these common allusions, and including "reverse" to convey the antithesis.
Or Tesla, or Apple, or Nvidia or, or, or... literally throw a dart at a list of NASDAQ stocks 15 years ago, same thing.
Hindsight is 20/20 and no one can read the future. His point is that you're better off investing in things you can control than gambling on a "sure thing".
Seems ostensibly helpful, is actually just meaningless platitudes and vague, generic advice that everyone knows.
His advice of "don't speculate with free stimulus money even if you can afford it, spend it on consumer goods instead" is still bad advice.
Young people are the ones who can afford to speculate without it hurting them too much. They have an entire lifetime to make lost money back, and if they win on their speculative play, an entire lifetime to compound it.
These people cannot stand the idea of speculative investments (such as DeFI) being available to the unwashed masses. Understandable, the author is a Financial Advisor after all and benefits from the impression that investing is some mystical voodoo that only Trained Professionals™ can do.
I stick to index futures and options on those futures myself but a friend of mine is deep into trading crypto. After a few drinks we were at his place just last Sunday and he was showing me charts and what not explaining his methodology for trading. It was absolutely alien to me considering the things I commonly trade.
Even funnier to me than How The Expert Does It was the fact that it's been working for some time. That very night he correctly called the big down move we just saw and correctly (so far) picked up where the fall back support would be. As always the situation is in progress...
The funny thing is that I'd be laughing my ass off at such cargo cult voodoo if he hadn't made so much money.
In the long term I think inflation devours the world. When the stability of the US goes, so does the world.
It's a hard game to make it in long term. Ive always told people "Making money on winning trades is almost hilariously easy - its holding on to it thats the hard part".
1 - Generate signals that end up working out 50% of the time.
2 - Structure the game such that your winners are 3-7x your losers (depending on conditions here).
3 - Automate daily back testing on real bid/ask prices and arrive at a moving average of your stop/exit thresholds - allow your thresholds to flex a bit with market conditions.
4 - Keep at least 1.5x margin requirements as reserves and never bend from this no matter how many contracts you might trade if you leveraged your entire account.
5 - I find it immensely helpful to only evaluate how many contracts to trade 1x/month. Longer is fine but whatever you do, don't take a windfall profit and immediately pile on more contracts for the next trade.
Give me ^ES and ^NQ any day of the week personally.
Uh, when did Earth get its first Trillionaire?
>Get out of the house. Leave the home. Go outside.
We're still in a fucking pandemic!
>The more it doesn’t feel that way, the more you know it’s the truth.
I mean, don't buy SPACs, digital currencies or NFTs, but don't do it because of a feeling.
This dude should just give me half of his money if the rest of his site is like this. He thinks pushups are a good suggestion for this situation. I wouldn't trust this guy's advice about money even if he had a time machine.
You are not allowed to leave the house?