Thank you. Charlie Munger valued the words "the world is not driven by greed, but by envy."
The case in South Korea seems to prove that point.
Galloway points to economic stagnation as one root cause of the crash. People feel there is no normal way to get rich anymore. Add to that the rise of loneliness and the falling marriage rate. This environment makes it easy for envy to grow, especially when people keep comparing themselves to others.
Munger also said this on another occasion. "Everyone takes it for granted that they are five times richer than before. All they think about is that somebody else has more, and it feels unfair."
On top of that, X and other social media are full of people bragging about the wealth they made. Investors with less experience are especially exposed to this constant comparison. Financial institutions may have also played a role, offering products like leveraged ETFs again and again to this same group of people.
How well people can control the urge to compare their success with others may be the key to avoiding this kind of crash in the future.
No to crypto Abolish Crypto. What no one talks about. Is That the government can just flip a switch and stop your money dead in its tracks. If they want. You speak against the regime. There goes your money. NO JOKE. GOOGLE THE DANGERS OF CRYPTO I AN AITHORITARIAN REGIME
Crypto is fucked up. Abolish crypto. CRASH CRYPTO BEFORE ITS TO LATE. ANOTHER GRIFT. AND MEANS TO CONTROL THE PEOPLE. WAKE THE FUCK UP PEOPLE. THERE’S NOTHING LIKE THE AMERICAN DOLLAR. FUCK ALL BLOCK CHAIN.
Today's Number---Misleading, if not inaccurate? Cannabis is the umbrella term for all products and varieties derived from the plant Cannabis sativa. This includes high‑THC plants, low‑THC hemp, and everything in between. sativa, while marijuana refers specifically to cannabis that contains enough THC to produce a psychoactive “high.” Scott, your comment suggests use, which I presume excludes hemp.
Trading leveraged single-stock ETFs on margin is tough to comprehend for someone who invests for the long term.
What I like about this story is that Korea’s finance minister actually apologised for approving these leveraged products. Good (and most recent) lesson for all of us anyway.
At the least the Koreans actually invest in stocks. In the UK, everyone is obsessed by housing `wealth`
Thank you. Charlie Munger valued the words "the world is not driven by greed, but by envy."
The case in South Korea seems to prove that point.
Galloway points to economic stagnation as one root cause of the crash. People feel there is no normal way to get rich anymore. Add to that the rise of loneliness and the falling marriage rate. This environment makes it easy for envy to grow, especially when people keep comparing themselves to others.
Munger also said this on another occasion. "Everyone takes it for granted that they are five times richer than before. All they think about is that somebody else has more, and it feels unfair."
On top of that, X and other social media are full of people bragging about the wealth they made. Investors with less experience are especially exposed to this constant comparison. Financial institutions may have also played a role, offering products like leveraged ETFs again and again to this same group of people.
How well people can control the urge to compare their success with others may be the key to avoiding this kind of crash in the future.
No to crypto Abolish Crypto. What no one talks about. Is That the government can just flip a switch and stop your money dead in its tracks. If they want. You speak against the regime. There goes your money. NO JOKE. GOOGLE THE DANGERS OF CRYPTO I AN AITHORITARIAN REGIME
Crypto is fucked up. Abolish crypto. CRASH CRYPTO BEFORE ITS TO LATE. ANOTHER GRIFT. AND MEANS TO CONTROL THE PEOPLE. WAKE THE FUCK UP PEOPLE. THERE’S NOTHING LIKE THE AMERICAN DOLLAR. FUCK ALL BLOCK CHAIN.
Today's Number---Misleading, if not inaccurate? Cannabis is the umbrella term for all products and varieties derived from the plant Cannabis sativa. This includes high‑THC plants, low‑THC hemp, and everything in between. sativa, while marijuana refers specifically to cannabis that contains enough THC to produce a psychoactive “high.” Scott, your comment suggests use, which I presume excludes hemp.
Trading leveraged single-stock ETFs on margin is tough to comprehend for someone who invests for the long term.
What I like about this story is that Korea’s finance minister actually apologised for approving these leveraged products. Good (and most recent) lesson for all of us anyway.