Somewhere along the way, a large majority of U.S. citizens convinced themselves that the market owes them something. They think that if they “invest” in the stock market, that they’ve somehow earned the right to make money over time. I’m not sure if it’s the financial advisors feeding them self-serving garbage based on their tiny sample sizes. It could possibly be the financial media constantly making their viewers feel stupid for missing out on a trade or a long-term trend. These vultures use headlines like, “If you had invested $10,000 in X on this specific date you would have easily earned Y in that short period of time”. They’re proving to us how worthless they are. It’s poison.
At what point do investors hold themselves accountable? It’s never their fault for losing money. It’s the Fed’s fault, it’s the Trump’s fault, it’s my neighbors fault who “made” me buy bitcoin.
It’s YOUR fault if you lose money. We have no one to blame but ourselves if our “investment” account loses 10%, 20%, 50% or even much worse in the case of things like crypto currencies, precious metals or recent IPOs like Snapchat. [Read more…]