I started investing in December 2020. I had a group of friends who got me into investing and one by one they all lost between 75% to everything. And quit investing.
The first friend missed the Jan 2021 AMC, GME, NOK, etc price action that took place. So when TLRY was rallying in Feb 2021 he went all in at TLRY at $65 bought and held through the fall and lost 90% of his life savings and gave up.
The second friend got his advice from Two stock Youtbers. Their names might be banned on this sub. But followed their stock picks into stocks like TTCF, Voyager Digital, CRSR, RDFN, LCID, and even bought COIN on day 1 like those two Youtubers. He lost 80% and gave up on investing.
Third friend heard about the possible Russian invasion in Jan-Feb 2022. And put his entire life savings into two Russian stocks OZON and YNDX, Stocks got frozen in late Feb 2022. So he cant even sell or transfer. There has been no updates on if Russian stocks will ever trade again in market. So he essentially lost access to everything. He gave up on investing Jan 2023 due to their still being no info on if he will ever see that money again.
Fourth friend put all his money into Luna and lost everything. Fifth and final friend who was involved in investing quit this morning. He had heard the news of Silicon Valley Bank and remembered Jim Cramer saying the bank was fine. So he put entire life savings into calls and shares in hopes stock rebounded. Stock is now halted and he feels it will be a zero and gave up.
Im fortunate in that I wasnt like my friends I didnt put all my life savings into 1-5 individual stock positions. I just invested everything into VOO and 23 other positions in Jan 2022. Im down 30% and it feels a bit hopeless about ever being in the green. And seeing my entire friend circle lose everything in the span of about 2 years.
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