OMG, Make it (Game)STOP!
If you haven't heard, a bunch of redditors decided to buy up a TON of stock in GameStop, a company that was (*is still, in my opinion) headed towards BlockBuster's locker (Get it? Like Davey Jones' Locker?? Anyway...)
Long story short, a hedge fund was betting on GameStop to fail, so when the redditors bought into the shorted stock and drove up its value, it's now causing the hedge fund rich people to become BIG MAD.
The whole system and consequences from this event is convoluted because:
1) Why does this capitalist system allow people to bet AGAINST the prosperity of the American economy?
2) Why did brokerages such as ROBINHOOD stop the ability to purchase GameStop stock just because people are losing money?
3) Why do people suddenly care that retail investors (us regular folk) are uninformed or that we're "gambling," not investing?
All this to say, I, unfortunately, did not make a killing in my portfolio with these shenanigans. I'm happy for the little guys, but, I prefer my stress-free ~low-cost index fund~ approach. Remember, you can still invest for retirement in a way that's generally stable and positively predictable.
If the only times that you think about investing is when chaos happens, let me tell you: There’s a simpler and more effective way to grow your wealth! With the personal finance coaching sessions that I offer, I will break this stuff down into super manageable steps! We will start from square ONE! Like, literally, we start with “What is a stock?” and “What is a ticker symbol and what does it mean?”
Book a session with me if this news has spurred your desire to start or improve your investing knowledge!
