27 Jan 2021 money
Today I saw a bunch of trending posts about $GME and I feel like I have a responsibility to clarify for those who might not know better: this is not investing, this is gambling.
It’s fine when people who can afford to lose money go all in on a meme stock. Heck, they may even hype it up - it adds to the fun! And as long as we’re all on the same page about that, fine.
However, there are plenty of people who cannot afford to gamble and who may misinterpret their friends’ optimism or levity as encouragement to participate. To those folks, I’ll reiterate: this is not investing, it’s entertainment.
Don’t play with money you can’t afford to lose. If you feel sour about missing out, remember that this is the same as the casino. Sure, some people win big, but that doesn’t mean it’s wise to participate. If you wouldn’t throw away your life savings playing slots, don’t do it on stocks.