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this post was submitted on 24 Feb 2024
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I had a good laugh when I got an email through basically offering a preorder of Reddit shares.
never did link my account to an email address. so that's an email i never got. 🙂
*looks at c/WallStreetBets and puts on sunglasses*
Pump it.
Reddit is getting worse every day, for a while it was worth it, but sooner or later, everyone reaches that point where the cons outweigh the benefits
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Looking forward to seeing Reddit take a hit. They love to ban people for the silliest of reasons.
Dont theu just want it to crash hard so they can then buy into it at a cheaper rate.
Why would the price go up?
The only way to make money is sell comments to AI developers, and users hate that.
It's completely unprofitable and the days of throwing tech bro money into bottomless pits is over
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Theres a lot of smart financially minded people in these comments. any advice for how someone can get started with the market, and investments in general?
If you want to look at investments, DO NOT buy individual stock. DO NOT short stocks. These are gambles that people play, where you try to guesstimate what the general market thinks about future prospects of a company. Many stocks that over-perform, do not do so because the company is doing well, they over-perform because a large percentage of investors think it might do well in the near future.
Step 1 is just building a stable budget for your household. Pay off debts, earn more than you spend, build an emergency fund. Many companies have savings accounts that you can safely put money into that you can pull out at a moments notice without taking a loss because of a dip in the economy. There's no reason to look at anything else if you have large amounts of student loans, credit card debt, or car payments you're working off.
Step 2 is decide what you want to save for - retirement, a home, etc.
Step 3 is start investing towards that goal. Use investment portfolios that match what your Step 2 goal is.
Step 4 - What country are you from? Because the following advice is for Americans:
If you want to actually earn money, you do it slow and steady. Invest in whole market funds, like VTSAX or similar. They are called "whole market index funds" where you invest a small amount of money into an index fund and it grows along with the entire market. You would put money into a 401k, IRA, or other tax advantaged account, and put that money into a whole market index fund.
IF you have thousands of dollars that you are willing to just throw away and it doesn't matter to you, THEN you can start buying stocks like Reddit, TSLA, or whatever. But that money shouldn't be considered an investment.
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