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ShoestringTherapy t1_jcgjopn wrote

Watching the market react to things like this really puts in perspective how little I understand any of this.

But I'm stubborn so I'll keep trying

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0pimo t1_jchwygy wrote

The basic thing to understand about Wall Street is that stocks go up and down largely based on how people feel about things, not based on any real quantitative reasoning.

A company posts record profits? Stock goes up. The amount it goes up isn't based on how big the profits are really other than the bigger the number the more people like it.

If you want to see this stupidity in action, at one point Tesla was valued more than every other car company on the planet combined.

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evensevenone t1_jcifzft wrote

Oh it’s even worse, like my company announces our prediction for earnings, then a bunch of random analysts pick different numbers and if we’re not at those numbers the stock goes down.

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BLACK_HALO_V10 t1_jcjdji4 wrote

Stocks are basically glorified gambling and we bet our entire retirement on it lol

It's honestly ridiculous

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AaronfromKY t1_jcglxu6 wrote

I know nothing about any of this, but after the selloff on Monday I bought a bunch of bank stocks and made a few hundred dollars easily since fear lead to them being oversold. Just saying what worked for me.

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