Wut do?

[Rygon]

I would have never thought that regular Joes are so stupid that they would hold their fiat in a bank as an investment or something

No? This is what I was thought as a child. You wouldn't believe what portion of the people in my country who think all the stock market is is a casino.

Well , isn't it?

Of course not. If you properly value companies, only buy at the right price and hold long term. I wish I was taught this stuff in school instead of having to find it out myself at age 24.

The stock market is a complicated game were the rules keep changing and some people have massive advantages. Which is part of an even more complicated monetary system. I'm not anymore likely to suggest to a friend to invest in the stock market than I am to suggest bitcoin.

[wachtwoord]

I would have never thought that regular Joes are so stupid that they would hold their fiat in a bank as an investment or something

No? This is what I was thought as a child. You wouldn't believe what portion of the people in my country who think all the stock market is is a casino.

Well , isn't it?

Of course not. If you properly value companies, only buy at the right price and hold long term. I wish I was taught this stuff in school instead of having to find it out myself at age 24.

The stock market is a complicated game were the rules keep changing and some people have massive advantages. Which is part of an even more complicated monetary system. I'm not anymore likely to suggest to a friend to invest in the stock market than I am to suggest bitcoin.

Then how do you save money? In a deflationary fiat currency stored at a bank "accruing interest"? Let me know how that works out for you.

Seriously, the biggest idiot in the world can dollar cost average buy an index fund.

[roadsterreplica]

If you could predict the market then economists would be out of a job and everyone would be equally rich...

Buy and hold is a good long term strategy.

[JimboToronto]

Can you please elaborate that satoshi part?
Cause it sounded like satoshis are a different currency than bitcoins.

Soon we'll all be talking in satoshis, once bitcoins are worth too much to be used in general commerce.

[Equus]

Then how do you save money? In a deflationary fiat currency stored at a bank "accruing interest"? Let me know how that works out for you.

Seriously, the biggest idiot in the world can dollar cost average buy an index fund.

It took me about five years to graduate from a savings account to GICs to bank mutual funds then finally to ETFs, and along the way I had to learn a whole new vocabulary:  dollar cost averaging, risk management, management expense ratio, tax-efficiency, diversification, rebalancing.  I had to do my own research every step of the way, and if I wasn't interested in it I would still be paying my marginal tax rate on interest that doesn't cover inflation to begin with.

I totally agree with you that financial literacy should be taught in schools.


As it is, most people I know "learn" about investing from the banks' salesmen.