r/investing Mar 22, 12:11 PM
Why did nobody take much notice? First off, this is not a brag. If I wanted to brag about being right about the downturn, I’d go to YouTube and sell some shill course on how to spot some six figure income or something.
A while ago I asked this sub if there was a precedent for money market behaviour in war time. I got burned alive. I thought I’d keep an eye on people’s attitudes, here and on r/valueinvesting and r/gold.
When it became clear people were just willingly going to walk off a cliff in sheer denial they were in the wrong, I tried to say something. There were folk here saying to just keep buying, that DCA would sort everything out, and there were people on r/valueinvesting who were determined to believe that Microsoft as of a month ago was a good value play.
I only have one question, why did nobody listen? A bunch of people just lost a lot of money, and this might not be over. My family is in that group. I took Mum out of a sterling hedged gold ETF about 4 hours before the crash from 5500 to 4700. Dad refused to sell his physical. I had to practically scream the house down and they still wouldn’t listen. Reddit is the same. Investment was my first career, so while I’m not an expert I do know what I’m talking about. Is it that greed turns off logic or something? I’m more sad than anything, because until we actually learn, we’re no better than an AI repeating the same mistakes, just a lot slower.
Why did nobody listen?
submitted by /u/a11yChief
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