This article is good but the author is trying to find fault with his own father and that too in a public forum. He could have mentioned "a close relative" rather than his dad and still his article would have been as much forceful in conveying his message. But by mentioning the truth this article no doubt is more effective. When a man has to depend on his son in his seventies, this is tragic.
I am 75 and I have lost around 100K or 200K on several occasions in last 25 years. But for some reason I am still financially well off and I support my sons rather than they support me. I also helped my two brothers in India with money to become financially well off.
This is all due to God's blessings.
I am a living example of the correctness preached in this article, that individual stocks are risky and so are options. Recently I lost 200K in my investments in COIN and in Bitcoin and Etherium. I put too much faith in the words of "experts" like Cathy Wood, and Elon Musk. Also the media fools you by telling that Bitcoin will reach one million or five million as stated by Cathy and Musk. These guys have millions to play with. I lost some $110 K ten years ago when I invested in PUT options after reading that bad article on finance website. Before that I lost $100 K when I invested in Bank of America. I knew that one must be well diversified and I had decided a few years ago to stay away from stock markets but I did not follow my own advice.
Very good article. I recently lost too much money because I invested in one stock COIN due to too much faith in one lady named Cathy. I wish I had invested in an index fund or just in short term CD.
Comments
This article is good but the author is trying to find fault with his own father and that too in a public forum. He could have mentioned "a close relative" rather than his dad and still his article would have been as much forceful in conveying his message. But by mentioning the truth this article no doubt is more effective. When a man has to depend on his son in his seventies, this is tragic. I am 75 and I have lost around 100K or 200K on several occasions in last 25 years. But for some reason I am still financially well off and I support my sons rather than they support me. I also helped my two brothers in India with money to become financially well off. This is all due to God's blessings.
Post: Don’t Fall in Love
Link to comment from June 7, 2022
I am a living example of the correctness preached in this article, that individual stocks are risky and so are options. Recently I lost 200K in my investments in COIN and in Bitcoin and Etherium. I put too much faith in the words of "experts" like Cathy Wood, and Elon Musk. Also the media fools you by telling that Bitcoin will reach one million or five million as stated by Cathy and Musk. These guys have millions to play with. I lost some $110 K ten years ago when I invested in PUT options after reading that bad article on finance website. Before that I lost $100 K when I invested in Bank of America. I knew that one must be well diversified and I had decided a few years ago to stay away from stock markets but I did not follow my own advice.
Post: Don’t Fall in Love
Link to comment from June 7, 2022
Very good article. I recently lost too much money because I invested in one stock COIN due to too much faith in one lady named Cathy. I wish I had invested in an index fund or just in short term CD.
Post: Don’t Fall in Love
Link to comment from June 7, 2022