Last night I had a conversation with a close friend of mine. We started talking about the economy. Full disclosure I am a full time trader i stare at charts for a living.
I've been warning him for over 2 years now that the plandemic and all the bullshit they implemented was going to cause a massive recession into a depression the likes of which we've never seen. That the credit crunch was gonna be unbelievable and that buying at home at all time highs during the plandemic was retarded and that he should stop pouring money into his 401k at his work.
He continued to pour money into those wortheless funds at work, he bought a house in 2021 which he got into a bidding war with and he even bought a new truck.
He is now complaining and blaming others about all the shit that's happening to him. He's going through a rough marriage, his work (new build developers) are now talking about massive slow downs and putting projects on suspension because the cost benefit analysis is weak etc etc.
He's mad at wall street for his problems. Just blindly pointing the finger at anyone but the mirror.
He's also giving me attitude lately because he finds it absurd that I can make money on a declining economy.
This is normie mentality 101. THIS is the core of the problem. Now I wouldn't even bother talking about the DS with him cause there is no point.
Frens are responsible adults who should NOT be getting involved in the financial markets especially if they are going to partake in irresponsible actions like buying stocks at extreme levels upon major news based events.
Every man is responsible for his own financial well being. It doesn't matter what the stock or asset was. If you bought at that level, you had no business buying to begin with. It's as simple as that.
DWAC is not even worth those prices to begin with and you don't seem to understand value. I'm talking about what they own, cash flow, balance etc. DWAC is now at a healthy price. Those same frens can buy now and hold onto it.
And frankly, as the market moves up, those bag holders will have made money if they didn't sell.
But I suspect you're one of those bag holders. My advice to you is never get into the markets again and just hold onto your DWAC and day job.