Post #3477012
2026-06-24 12:47 UTC
Even more unfortunately, most people do not understand that the truly wealthy pay their brokers and advisors very good money to diversify their portfolios, hedge their bets, and feed them insider information both legal and illegal, so they know when to get out while the getting is good.
That's not to say you can't win on a bet, of course. I have. Back in the 1990s, I doubled my money in a few months betting on Boeing right after a strike was announced and the stock plummeted.
Replies (1)
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@gcvsa@mstdn.plus 2026-06-24 12:50
But the fact was that (at least at that time) Boeing was still a fundamentally sound company, and the stock price hit they took for the strike came roaring right back in very short order, so I cashed out for double what I'd paid a few months prior, and plowed it all into AAPL, back when it was still trading for less than $20/share. AAPL was at time also a company with sound financials that was getting bad press. Now look at them, rising meteorically since the 2003 debut of the iTunes Store.