Over the past 3 years was caught up in the hype of the market. Foolishly throwing my hard earned money at the ‘hot’ stock flavor of the moment. Honestly I never did true DD, just causally looked up just enough info to confirm my ignorance and my bias and then I bought.
Overall I invested around 40+K in a hodgepodge of random disjointed stocks and ETF’s. Such illustrious winners like Peloton, Pot stock craze, LiDAR stocks, EV craze stocks, even some ARK funds bought near the top, Coinbase IPO, you get the picture. Very poor choices in hindsight. If t was hyped I poured my money right in like a sucker.
Now I’m finally seeing the writing on the wall, took a while, but it’s clear I absolutely suck at this! I’m just not good at it. My biggest financial strengths are not picking winner stocks, but rather being frugal, living below my means, and consistency putting my money in a comfortable 500 ETF or balanced mutual fund. Done trying to pick stocks.
Sold everything today and collected what’s left…a paltry 20k. Down probably a total of 50-60%. I need that money pretty badly at the moment anyways, and am completely done dabbling in the stock market. It’s not for me, and I’m not cut out for it….it was some hard costly lessons learned. I’m DEFINITELY what they mean when they say ‘dumb money’!
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