Memestocks Won't Make You Rich (Probably) 

Standard advice is not to be emotional about your investments. Meme stocks are the antithesis of this.

Probably? So you’re telling me there’s a shot Like Han Solo said: “Never tell me the odds”

I just watched a recent video on the BBB thing. Totally blows my mind. The level of self-delusion is actually scary. People destroying their own lives futilely chasing a myth.

"GME may rise over time. I have no way of knowing." This is why I love your videos! Honest and evidence-based videos. Keep doing what you're doing. Ottawa represent!!

I have a lot of respect for "Team James Jani," especially after their treatment of Crypto and Sam Bankman Fried. I was gratified that you and Patrick Boyle both agreed to assist in their latest excellent 2-part release. Keep up the great work! 👍

99% of gamblers quit before becoming rich

The return of the Party Pooper. Not the hero we wanted but the hero we needed.

The Jani docs were really good. He’s done a Best Buy once since and I hope he’ll do these more frequently

OMG I just watched your two “investing won’t make you rich” videos yesterday. Pump that realism straight into my veins! 😂

Ha. Even if you get rich on meme stocks, I guarantee you'll lose it on stupid stuff

Haven't watched the new documentary but folding ideas has a almost 3 hr video this is financial advice diving into the wild conspiracy stuff around this. This was a nice financial side summary about the topic.

I was gonna say that this man's spittin' facts, but nah, he's fittin' SPACs

Richard, what do you think of the idea that the risk premium falls with the riskiest stocks. There's come a point people stop getting paid to take on risk (like index funds), and start paying for the chance to get rich (like lottery tickets)

There is a video essay from a channel called folding ideas that was way ahead on this. It's great.

after the GameStop odessey I visited r/wallstreetbets, never returning there

But Bagel, this influencer on instagram just said that this cryptocoin will go to the moon!?

Glad I waited to comment until the end of the video. You kind of said it in passing, but it bears repeating: even if MOASS is a completely reasonable thing that could actually happen, why would anyone target it on GameStop where the big hedge funds have a legitimate business reason to NOT short? I doubt there is a conspiracy of hidden shorts; it is just more likely that the big money managers are simply not confident on getting a return shorting that stock. It does not mean they won't short others, however. Even if I believed in the meme stock stuff, why would anyone still be looking at GameStop? Almost positive the big money folks have moved on; if your goal as a retail investor is to fight them, you'd be better off finding a different stock to make the battleground!

I've been on both mentioned Memestock craze. Made $80K on GME, then lost $100K on BBBY. Diamond hands worked on one, but not so much on the other. I'm now more risk averse

Gamestop's only chance of survival is if they can manage to become the competition against steam. Nobody likes the epic games launcher so there is opportunity but they're so far behind and somehow I have not heard anything about them trying to do that which is just a complete failure by the leadership.

Probably

Momoney, moass. Lesmoney, lesass. Or was it the other way around.

I trade GameStop sometimes if its cheap but only because of the psychology of people addicted to gamestop. Ill buy around 19.50 and sell around 22/24. Repeat. As long as people are interested, it will be a good stock to trade

Imagine if the memestock crowd spent their time learning a marketable skill instead of on misdirected “DD”

Hello Richard! ❤ from Malaysia!

I'm an active trader myself and I make quite a decent amount of money, I trade gold and oil based on the geopolitical climate(its much more reliable) . I'd like you to do an episode on Technical Analysis😅to me it just seems like Astrology for traders😅 I'd like to hear your opinion on this, do people actually make money from it?

They got all that cash by diluting retail inventors....

When Roaring Kitty was doing his live stream back in June I put $100 in two different accounts into shares. Was on vacation and felt like gambling a bit. Of course trading got halted. I broke even pretty much. Lost enough money on shit stocks years ago. I’m now putting money into ETF’s instead. Live and learn.

Ok so you're saying I should short gamestop...

My favorite party popper! Preaching common sense in this overly absurd financial market

Memestocks will make some people rich, i'll just make sure they don't make me poor by not buying them myself.

I dont think any real people push the moass thing. Just scammers and victims

Richard, update your video description boilerplate, it’s still set in 2021.

I've been buying and holding since Jan 2021. All the news stations were talking about gme when it hit $30 which would be $7.50 now. Cb is $17.50, maybe I missed out on some plays like Nvidia but not regretting my gme buys at all

Informative video as always. Would love your take on whether it’s good or bad to have a home bias especially as a Canadian. E.g. investing in TSE vs S&P? Is the Canadian allocation in typical index ETF like XEQT too high or too low?

2:00 Some people legitimately believe that the short positions never got closed? 😂 What planet do these people live on? 😂 Hope truly springs eternal

you have more probability of getting rich in the Golden Triangle Special Economic Zone than buying STONKs.

Question: Is the knowledge on who is shorting a stock public or is the consept of MOAS just based on a story like "self driving cars are just 1-5 years away"? My initial thought is that it can't be.

But there is a chance!

Meme stocks won’t make you rich, crypto won’t make you rich, nft’s won’t make you rich. You know what will make you rich? A plain bagel in the noon.

So you’re telling me there’s a Probably….

Do you consider Palantir, ARM, and Shopify to be a meme stock? NVIDIA is also shorted a lot too.

I think it's not a coincidence that it feels like a millenarian religion

I'm not investing to be "rich" but I am investing for a decent retirement....if I make it that far.

I just buy a lottery ticket instead. Its pretty much the same chances.

Short the whole market! TO THE DOOM! 😂❤

MOASS will happen on the 30th of Feb, 2025!

i tried the stock market right after this and i think if i had just worked part time slightly longer i would've made the same amount of money for less effort

Yeah no shit

12:45 legitimate question, people that invested in Enron AFTEr the scandal made a 10 x return 6 years later during bankruptcy proceedings, can this relate somewhat?

He's gatekeeping guys, dont listen to him

My guess is they won't acknowledge MOASS isn't realistic until some large macro event causes a long term drop in the market. I don't think they can psychologically accept the reality until there's a causal reason external to their beliefs. I would say it's key to understand it's not an investment thesis to them, but a ridged belief system at this point.

Nah, I'd win

Investing won't make you rich - if you are able to invest in the first place, you're already rich... And investing can make you richer than you already were, so yeah...

Time to buy whatever meme stock he mentions first in the video!!! Jk

I'd personally invest like 1% of my portfolio in various meme stocks. The chances are virtually zero but since you basically put no money into it, the potential skyrocket would be worth it

You should rename to be the "Common sense investor" due to all the common sense pouring from here

Still holding on to GameStop in 2024 is the ultimate bag holder move

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If not for MOASS I believe in the fundamentals of the company with positive change over time (a lot of cash, no debt, strong leadership), I can be content with SLOASS instead 😅

Only because of corruption.

10th like here❤🎉

47th

in seconds lmao

My net worth went up 500% on the last year, thats just bc I had so little at that stage just working hard and saving did my thing wat better than what the stock market would have ever done for me. At the stage I am right now investing would make a bigger difference but I will probably go the real state route bc a 10% yearly profit from the stock market of what I have would still be nothing more than 2000$ which is something I earn in a single month just working.

First

He got rich doing these videos (probably)

Liar

ok boomer

Never quitting‼️🗣️ $PEPE $POPCAT $MUMU we coming 🔥

OK now switch that 10% return to 20% return by investing in a triple leverage ETF, and have an HSA and IRA and just maximize those contributions each year, and now you're a multi millionaire by the time you're retired and it's fucking easy

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First