I'm about to drop ALOT of money into truth social (DWAC) but should I wait? Any pros out there with advice? I don't want to make the wrong move.
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I was a futures trader, not stocks. But your words, "...drop ALOT of money," and, "I don't want to make the wrong move," has red flags all over it. No trader ever goes all-in on anything, or makes an investment without understanding fully what he's doing. With all the warnings about an impending crash, I would wait.
Warren Buffett would counter and say you do go heavy on one thing when you know it's going to be good. He said that is more effective than diversifying (I think his words were, any idiot can diversify). I see his point, but to your point, yeah if you don't know what you are doing, going in on one thing could be disastrous.
This is precisely the reason why Buffet's advice is disastrous for small investors. He has the luxury of a massive amount of cash, so, he can afford to wait out a trade that goes against him, or even sell at a loss. This could be enough to completely wipe out someone just getting started. ALSO...he is privy to information that the rest of the investing world doesn't have.