Two-thirds of young people rely on social media for their financial investment decisions, with one in five turning to artificial intelligence.

  • Hanrahan@slrpnk.net
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    6 months ago

    on a similar note, an article in the WSJ about a young guy trying to make bank based on reddit advice, made a good amount, then lost it.

    paywalled

    https://www.wsj.com/finance/investing/alexander-hurst-generation-desperation-excerpt-644c2a66

    my advice ? :) get your degree, fuck off to Cambodia, (super easy visas), you don’t want to be 60 and still lumbered with a mortgage because 1/2 the time you’ll be made redundant along the way,

    or if you can figure out how to work remotely move to a small rural town in Aus if you want to do the family thing, or head OS as a nomad and dollar cost average into a couple ETFs.

    I retired at 40 and am now 60.

  • Paragone@piefed.social
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    6 months ago

    It isn’t only local to Australians:

    The Reverse Cramer Index was a fund which did the exact-opposite of what a TV “guru” was telling people to do.

    Notice that its returns, before it shut down, were in the green:

    https://finance.yahoo.com/quote/SJIM/performance/?guccounter=1

    You can’t harvest the money of the mislead-sheep unless you’re misleading them & fleecing them efficiently, right?

    _ /\ _

  • No1@aussie.zone
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    6 months ago

    I thought it was all about crypto, EFTs and Labubus?

    not financial advice