There are those who treat stock markets like gambling.
Those who punted during the meme stock saga and who were successful, is due to dumb luck. High leverage was used to get the crazy returns. During that period, it is perceived that stock markets are easy money.
For every successful Wall Street bets, hundreds to thousands lost their money and they didn't dare to voice out. The name that was used Wall Street bets is telling on their mind sets.
Their "success" is unlikely to be replicated. They were lucky to enter at right time and exit at right time.
Another recent craze is on crypto. So many people got burned and they do not realised that it's a greater fool game. Those who are knee deep in crap, needs people to buy from them so that they allan exit. [Facepalm]
I was quite annoyed to learn that 1 of my friend invested in crypto despite my warning, and wiped out his bank account, until it's left with lesser than $1000. [Spurting]
This mindset is very prevalent as humans are lazy and greedy, they want fast gains, they want the gains yesterday and they want it big.
How to tell these people apart from those who really have skill?
Time In markets.
Overtime, markets balances luck. No one's luck is forever good, there will be up and down.
The only way for consistently making money in stock markets, is by gaining knowledge, having strategy that provides an edge, and understanding the markets through actual involvement. Everyone can be an armchair critic, but how many can survive baptism by fire In the stock markets.
Long time investors like Warren Buffett, withstood the test of time with their methodology and approach towards markets.
I am unsure how many investors have realised this. Somehow when u first started investing, investing seems very easy and money is easily made. It's a strange phenomenon, that I will attribute to beginners' luck.
However, the longer u remain in markets, the more u realised that theres more and more things that we do not know.
Guess that's how we become better when we keep on learning and become better investors.
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