FoxTrot Classics by Bill Amend for March 25, 2021

drastic

No worries, just whine to the government and they’ll give you more free money and tell you that you don’t have to pay your bills

Long before computers mad day trading possible, one of my uncles made a fortune (about $2 million in the 1960’s) in the stock market, without going through a broker. He described it as “Just another version of legalized gambling. You need to know when to pick up your chips and leave the game, or else the odds will catch up with you.”

Ironically, about 10 years before he died, he decided to “dabble a little” to teach my younger cousins how it worked, This time he went through a major brokerage firm (feeling that in his mid 80’s he was too old to get up early morning on the west coast to catch the opening bell) and following the “expert’s” advice lost almost $50 thousand in a matter of 2 weeks.

You don’t lose money if you don’t sell.

Yeah – I remember talking to someone that went through something like what Roger is going through who ended up going back to his normal job because, and I quote, “day trading is actual work!”

It’s just like gambling except the rules favor the gamblers (stockholders) and not the house (the company the stockholders invested in.)

Rich or Ruined?