Where your hard-earned money comes to die. Home.
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PSA: Proles are now talking about, getting into crypto
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Poast new message in this thread
Date: January 3rd, 2018 6:50 PM Author: lilac marvelous theater background story
overheard some proles on the bus ride to work. one of them was talking about how he just signedi up with coinbase and binance and how he "doubled his money" on some shitcoin
(http://www.autoadmit.com/thread.php?thread_id=3848542&forum_id=7",#35074352)
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Date: January 3rd, 2018 8:17 PM Author: Grizzly floppy address son of senegal
1. I have no fucking idea why poor reddit people that brag about buying another 100 ripple coins are passionate enough to post online about the coin. They exclusively seem poor and stupid
2. Proles are going to be disastrous for crypto. Theyre poor partly because they’re stupid and undisciplined. They’re not going to bring enough money to truly move prices but almost certainly will take irresponsible risks and make excessive trades that ultimately lead them to financial ruin. Consumer regulation will follow close behind and the fun will be over.
Exchanges should actively discriminate against poor people and/or dumb people and prevent them from throwing in their $100 laden with existential regulatory risk
(http://www.autoadmit.com/thread.php?thread_id=3848542&forum_id=7",#35075011) |
Date: January 3rd, 2018 9:21 PM Author: Dark abode
Cross-poasted to main board: http://www.autoadmit.com/thread.php?thread_id=3848753&mc=6&forum_id=2
How Joe Kennedy Avoided The Stock Market Crash Of 1929
Joe Kennedy is the father of former president John F. Kennedy.
Joe made most of his money in the stock market. He traded stocks in the roaring 20s when there was little regulation and "anything goes" attitude surrounding all of Wall Street.
Joe famously avoided the Great Depression, and stock market crash of 1929. He sold his entire portfolio days before the crash. But how did he do it? This one anecdatoe explains it all:
"Joe Kennedy exited the stock market in timely fashion after a shoeshine boy gave him some stock tips. He figured that when the shoeshine boys have tips, the market is too popular for its own good.
A theory also advanced by Bernard Baruch, another vested interest who described the scene before the big Crash: "Taxi drivers told you what to buy. The shoeshine boy could give you a summary of the day's financial news as he worked with rag and polish. An old beggar who regularly patrolled the street in front of my office now gave me tips and, I suppose, spent the money I and others gave him in the market. My cook had a brokerage account and followed the ticker closely. Her paper profits were quickly blown away in the gale of 1929." - Fortune Magazine, When Shoeshine Boys Talk Stocks
(http://www.autoadmit.com/thread.php?thread_id=3848542&forum_id=7",#35075583) |
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