This article should ring a bell:
http://www.nytimes.com/2010/03/28/business/28trader.html?src=me&ref=general
and I found the following relevant
If the motto of the original day-trade boom was, “If the pros can do it, so can we,” the motto today is, “We can’t do much worse than the pros.”
“There’s this idea out there that retail investors are dumb,” says Howard Lindzon, the co-founder of StockTwits, which curates a gusher of stock tips and financial news alerts tweeted by 20,000 regular contributors. “Well, it turns out that the institutional investors are pretty dumb. They nearly blew us all up with leverage.”
Just to give it an idea why my daughter thought of me when she came across the report. I opted to be a day trader when I chose to be a house husband. I started as small time investor and traded in some shares but ended up being 'enforced long term investor' holding mainly worthless shares. Being conservative, despite having gone through 3 market crashes, I am still alive and kicking but with a broken nest egg. Otherwise I could have been a multi-millionaire (if aggressively taking risks) and probably a bankrupt. I am not sure which would have been better. Like in love, some would say it is better to have been loved and lost it than not at all. It is all up to the individual.
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