I’d say that wipeout is inevitable ...or at best a major haircut.
But today’s punters see it differently and probably aren’t in for the medium term anyway.
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I couldn't agree more. Some of the young ones won't be told, they'll have to learn the hard way just like a lot of the highly experienced investors on here have done.Quote:
Patterson said it now seemed clear that the impact of the coronavirus on Air New Zealand was going to be much worse than when the deal was signed.
While we're at it... join the "share trading australia asx stock trading" FB group and you will see all of this nonsense playing out in real time
14k members, some are clever people and offer great advice but the vast majority appear to know very little but have the confidence of Buffett, and dangerously convince other people to follow them.
Things I've seen recently...
- Guys boasting about making 1000% gains buying covid exposed shares as they go up and down, and anyone who is buying blue chips right now is "an idiot", that guy got 20+ likes
- People throwing thousands into the market on broker reports alone (and many recs haven't been updated post covid)
- Upramping and a lot of people buying (and convincing others to buy) all sorts of trash penny stocks
- People buying AIR (NOW?!?) on the ASX because "Its the safest bet out there, the nz govt won't let it go bust, it's the only airline afterall!"
- Buying leveraged reverse etfs without understanding what they actually are, just cause someone told them to do it
Fun times! On occasion I try and offer a sound sensible opinion contrary to a lot of this crap but I've given up now
Reminds me of when crypto was booming in late 2017 - Facebook groups full of people who were on "moon missions" for their Lambo, and who thought the gravy train would never end.
Probably the same people who've given up now that crypto is not as exciting, and have now moved on to shares instead.
If any of you ever want a fun read, check out "wall street bets" on Reddit - it's the Holy Grail of this kind of craziness.
Highly entertaining stuff. Showing my age, but the sorts of things being posted there reminds me of:
1. Des Guthrie's TV advertisements after the 1987 sharemarket crash;
2. the inch-thick offer document for Equitcorp's capital raising in late 1987;
3. the Australian broker who described Rothwells as "blue chip;"
and a whole lot of other lessons from the trenches.
I see property “gurus” admitting they are relatively new to shares but full of great advice and obviously looking to build another following of sheep to the slaughter.
But level 4 extensions .. no idea of how long level 3 will be ... and AIR still climbing. All aboard.