Why I Never Bought Stocks

WARNING: Foul Language
January 27, 2021

I'll admit I know next to nothing about trading stock, but I do know this. (1) Someone always makes out at the expense of another. (2) Flash trading occurs within milliseconds based on algorithms usually before these brokers process client's orders (stock manipulation). (3) Most savings plans are FDIC insured so even if your only getting .75% interest you'll never lose your money. Plus there's this...

WSJ.com
GameStop, AMC Stock Prices Tumble as Robinhood Blocks Trades "Robinhood Markets and Interactive Brokers joined a growing group of firms restricting trading of stocks that have run up rapidly the last week. "

The short story is hedge fund mangers' investors were getting hammered because they bet against GameStop and AMC. Instead a bunch of people got together on social media and bought a bunch of stock artificially driving up their share prices causing professional hedge fund money men to take a shellacking. As people should know by now when you gamble (even on the stock market) the odds are stacked in favor of the house winning. Now we can't have that can we?

This is unacceptable.

We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit.

As a member of the Financial Services Cmte, I’d support a hearing if necessary. https://t.co/4Qyrolgzyt

— Alexandria Ocasio-Cortez (@AOC) January 28, 2021

The lesson here is,
If you don't understand something don't dabble in it.

Check back often. Better yet subscribe. You never know what you'll find next on this blog. Entertainment, science, technology, humor, everything in between and more.

Before you leave check out my other posts.

All too many times people arrive here seeking out a single post from whatever link led them here never taking the time to look at my other stuff. Some of these other posts might interest you as well.