Post #3477013
2026-06-24 12:45 UTC
Unlike regular casino gambling, stock market speculation carries with it the inflation of one's ego, because it makes you think you are somehow more clever than other people when the stock goes up, so there is very much a vested interest in #HODL or "hold on for dear life", despite all financial evidence pointing to the obvious fact that the valuations of these companies are insane.
Most people do not understand that stock value is purely speculative and has nothing to do with actual finances.
Replies (1)
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@gcvsa@mstdn.plus 2026-06-24 12:47
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.