When people bid up Gamestop on Robinhood, I was relaxing. I didn’t even realized what happened until its all over. I have some opinions on this though and we will probably see more and more of this happen compounded by people staying at home during the pandemic.
I’m going to talk about the craziness of robin hood and people you know bidding up gamestop i don’t even know how many percent 500 percent i think it went from 40 to 240 i’ve been having more and more people that i know investing investing to me i like a huge red flag goes off for me whenever i hear people investing in songs it worries me because they are people
I know and when it’s not really investing it’s gambling how do you know you’re investing it’s such a fine line it’s because well if you are ever trading on margin if you ever buy one stock more than say 20 of your total portfolio really 10 you are gambling so you’re too concentrated on one single stock that’s one way to tell some really rich investors would
Say well you know if you are uncertain that is why you diversify you diversify because you don’t know if you’re gonna you know you’re gonna make it on this particular stock or not but gamestop it’s a total psychological play from people talking on reddit the way i see this is it’s very hard to predict how people will react when will the fever drop off right same
Thing with bitcoin i wouldn’t even talk about tesla because you know i didn’t predict it properly i sold too early when you’re playing a game where everybody goes piles on in you don’t know when people are finally gonna turn it’s basically playing musical chairs and if you make money good you know i’m happy for you but my worry is when you do make money and you
Are a beginner investor you start to think you have a lot of luck you know maybe it goes up and down but overall you’re net positive you get bolder and bolder until you lose all of it and then you’re like oh okay maybe i’m not such a good investor so definitely i think everybody buying into gamestop is gambling so you got you know everybody is quarantined at home
Everybody is investing they have a lot of time on their hands so this is like a nice way to pass time the only regret i personally have is i did not i personally did not see it so a a possible valid play that everyone could be doing is you just go on reddit go down that investing thread and anytime someone talks about it a lot go and buy it you know just buy a
Little bit and you know it’s probably really stupid this is gambling also but in a way you’re kind of playing the psychology of people on the internet and everybody else and you gotta see okay when can you sell it uh right when it ramps up and before everyone dumps it right so the play here is really to predict the psychological behavior of everybody else this
Is not investing on the company which is sort of a lot more predictable when you’re investing on behavioral of people it’s really really hard you don’t know when the crowd is going to turn it’s like you just don’t know so those are my two cents i personally have been not really investing all that much i made a little bit of money on bank of america i sold out
Of it and basically these days the stock market would be super volatile it would drop a lot and i wouldn’t give a care you know i i’m just enjoying my life i am having these snacks i am riding in my tesla just having a good time and not reading comments and uh you know just just being okay just remember for this year i already made enough to sustain my living
For the rest of the year so what it’s like january right the rest of the year i can basically chill out not invest at all pull all my money out put in cash i don’t care if it makes money maybe you’ll lose a little bit due to depreciation but you know i can i can pause for one whole year and just watch and see where the market goes and you know come back later
You can always invest in something so those are my thoughts and uh you know let’s try some snacks now you
Transcribed from video
My Thoughts on Robinhood and Gamestop Stock GME By BeatTheBush
