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You’re Being Tricked Into Losing Money
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- Опубліковано 1 лис 2021
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On Episode 194 we discuss the impact of social media and how it may impact investors' decisions.
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This is one of the few youtube channels I end up learning something. Thanks for the real content Joesph.
All I heard was "buy all of the crypto coins, you can't lose."
....done.
Buy the ATH and sell the ATL
ETF's don't outperform the average investor because of the company they hold, but because the average investor trades beyond their competence.
After watching Graham/Andrei/Jeremy/Kevin, it's good to hear Joseph grounding me from FOMO'ing.
Exactly
Why watch them? A lot of noise and little value.
@@nickdoyle-achievefinancial2464 to keep an eye on the herd
This is a thought provoking video! It seems like the one who “tricks” us is ourselves. Putting armor around my thoughts and fears, in other words identifying and controlling the psychologically triggers for making bad investing moves, is key to being successful. Does it help to have a confidant or two for discussing investing choices who can challenge our thought process?
Why anyone is downvoting this video is beyond me. Great episode and this needs to be talked about way more often.
Probably people at the end of the bell carve who lost money in the MM cryto
Idk why people keep saying this, all videos have dislikes, unless they barely have any views.
I'm betting a lot of them found his consistent mispronunciation of "survivORship" as "survivALship" grating. It was otherwise good content, but it's like hearing a musician hit a wrong note repeatedly.
You!!!!!
For presenting some cryptos in a negative ( some may say accurate) light
Caught MSFT at $137 and never bought more for this reason
I really like how you tackle all ends of investing not just the “winning” strategies or “what really works to be a millionaire” stuff. I love this kind of more realistic content. Keeps reminding me that not everyone is a winner and it takes time to really amass some form of wealth that can sustain your retirement
This might very well be one of if not the most important investing videos anyone could ever watch.
Incredible video. I finalized this logic sometime in the past and thank you for sharing. Honestly I’d rather battle against Armies with bullets than computers and networks. Know what’s tangible and what’s not and factor in what’s a reasonable trade for possessing wealth. God speed.
I play both sides of the fence. I take a small amount of cash from my stock dividends and buy into crypto and if it grows into a substantial amount I sell and buy stocks. Best of both worlds.
Up 45% since May in stocks, up a whole lot more on crypto. Can make 500% growth overnight, did it last night with Dreams. Just watch world premieres dropping on Kucoin. Anybody not making money with crypto isn't snipe trading, moving with momentum. It's not about moonshots, it's about running with the herd and locking in profits early.
@@BetterYouNow holy shit your right, dreams gets listed yesterday and it’s up 1000%
How much dividends do the stocks pay? Peanuts.
*INVESTING IN CRYPTO NOW IS VERY COOL ESPECIALLY WITH THE CURRENT RISE IN THE MARKET NOW*
You're right ma,
That is why I had to start crypto currency
3months ago and now am making benefits from it,
and I can even say she's the most sincere broker I have known.
Yeah you're right one needs to diversify to
have different streams of income,
Diversifying is the best key to investing and
being wealthy,
Anchoring is very real , something I really struggle with
Outstanding Joseph! Thanks!
When it comes to investing, it is important what to buy. It is not always about survivors and fighters. Because, MSFT did not make any returns between 2000 and 2015. So, if you are for example 60, it is important not to stay with stocks which are only great like MSFT, you should think about what it will do the next 10 years. For the long run, you will be a winner. But in 5 years?maybe you have a negative return from now? What does that mean, if you don't have time for waiting to pass by 10-15 years? Then some hyper high valued techs are not right for you.
If you are in your 20s or 30s, that does not matter, you can load up MSFT, AAPL and meta. Great, if you are that young. What about the people who are in their 60s?
The big problem is that most people pay more attention to the shiniest positions on the graph to the cost of proper diversification, making investing look a lot more difficult. Having monitored my portfolio performance smashing a jaw dropping $280,000 from the last 2 quarters, I have learned why experienced traders make enormous returns from the seemingly unknown markets.
I'm in my late 50s and I'm working my ass off, just so I could retire at 62, been reading about people that grew a profit of $150K-$380k within 2months and I'd like to know how I can outperform the market and make better profit.
So many people talk about AMC as if it hasn't had an incredible year. They are the ones that obviously haven't been in the market very long. Losing weight takes months and years. Getting in shape and gaining muscle takes months and years. I want instant gratification too, but I know that being realistic is that this could take months.
I am trading my Dividend Portfolio & Growth Portfolio with expert Camille Anne Hector, a regulated broker in the US. Met her sometime early last year at a startup funding event. I sent a Mail; She had some interesting business strategy to give about the state of algorithmic trading today, very obviously I'm seeing the results.
I'm struggling in this market. Stocks that I have held for months and made profits from are not behaving the way I'm used to so I’m quite indecisive on how to further tackle this market, any advise would be grateful.
I am really interested in trying out her expert strategy, But i'm currently in Ohio U.S, will my location affect her business strategy?
Great video filled with knowledge, you brought me back down to earth as a new Invester, I need to hear this. Thank you!
Hadn’t seen that take on risk before - really helped crystallise something that’s intuitive but hard to express.
Sur-vi-VOR-ship bias not survivalship.
oops.. time to fire my editor
Been a big fan of your page for about a year now. I watch every video and this one is my favorite. The insightful psychology and logical breakdown in this video are fantastic. I felt the need to give credit where its due. I'll continue to watch all of your videos. Thank you
The stock market is still one of the most potential places to invest your money, if you can manage the risk then you can take advantage of the stock market to secure your financial position and earn money.
My advice to anyone in the market right now is to seek guidance, it’s the best way to build long term wealth while managing your risk and emotions with the passive investing strategy.
@@emilyfranklin8190 You’re right, I have some good knowledge of the market but I know I need more in order to reach my goals. My goals in my stock portfolio is to continue to grow my account and make smart investments.
@@bobbymainz1160 Do a little research on this bröker Samantha Leigh Wentland. She was really helpful in my early days. Still is. Being successful requires market knowledge and I made a very good choice adopting a professional, I’m sure she will be of great assistance to you.
@@marksway7292 samantha have helped grow my portfolio. such a champ
Scam
FOMO = TESLA
FYI, I am a tesla fan but there is no justification for the current share price.
The survival ship thing drove me nuts lol
Nearly had to stop watching.
It quickly shifted from survivorship and it sounded like his tongue was in his way
😂😂🤣🤣🤣 One I've never heard before. 'SURVIVAL SHIP' 😭😭😭😭😭😭😭😂😂
It’s CLEARLY WRITTEN on-screen with the definition 😂😂😂
This is fantastic and really well described Joseph!
I'd have to agree with you
You could have been featured in the video too...
Coming from one of the biggest shitcoin shiller on youtuber 😂
If only your content was as good and not just pumping the latest momentum stock/cryptos.
YOU’RE PART OF THE PROBLEM. Omg. The irony that you of all people are commenting on here acting like you don’t hype up a new coin every day and say every coin and every stock is gonna 10x. Smh. You’re a joke man.
Industrial psychology is not spoken much these days. Most trades that I have seen had been based off of emotion. Anywho, thanks for posting this, much appreciated.
it's "survivorship bias" not "survivalship bias"
Diversification is key. Nothing wrong with putting a small portion into riskier assets in my opinion. Know what you are buying.
SurviORship Bias. SurviALship Bias drove me nuts lol. Good, legitimate points, however.
Been binging your content and this is one of your best videos. 👏
I loved the coinbase ad promoting shibu right in the middle of this video
I look at investing the same way I do diet's. I work out 3 to 5 times a week and I eat healthy 5 to 6 days out of the week. That one food cheat day is the same as me buying my crypto/penny stock day. Never eat cakes everyday but you can have a slice once in a while.
Yep. I see no problem with 1-2% of your allocation going to that kinda stuff. Who knows, if you hit it big, that 2% could make you millions haha
Same. I'll throw a $100 of gambling money at a meme coin or stock. But that's a very tiny fraction of my assets. Only a gullible fool would yolo their life savings or rent money.
I eat fast food everyday, and buy good quality stocks.
@@CommandoMaster you could buy a lot more quality stocks if you cooked your own food
@@CommandoMaster the warren buffet way. lol.ua-cam.com/video/DcCvJqnIHhI/v-deo.html
Did I hear survivalship bias?
There are also A LOT of ways to mitigate risk. As someone who trades for a living full time, this is why most traders fail. No, it isn't because they bought a meme stock with high risk, sometimes its as simple as using a large portion of the portfolio for one swing. And when someone buys an asset for the purpose of a swing, seeing it down 10%-20% will make you want to sell. Why? There's no longterm conviction. There are many other examples of risk management. I like to look for 1-to-3 risk/reward. Risk $1/1% to make $3/3%. Positioning at 1%-10% of portfolio (depending on conviction, duediligence, price levels, etc.) Most investors and traders might only go into some of the duediligence, then throw 30% of their portfolio into it. Of course even all traders have a longterm where DCA is the best. So if you don't want to start a new career, just DCA on the longterm.
I like these videos Joseph... maybe you could do some on market psychology? They're good lessons for both investors and traders.
One of your best videos. Nicely done. Thanks for your content.
Very important for newbies to understand.
great video Joseph. i dont always agree with your analysis but i know you arent bullshitting me and i appreciate that.
Just gonna continue to DCA every week, I see that snowball getting larger and larger every Week 🥳
Ikr, goals!
DCA is underrated. Everybody on UA-cam wants to YOLO ALL IN everything into one stock/crypto to try and get rich quick.
Need help. My snowball is melting :')
tough to do that when people are making 5-6 figures off crypto and NFTs
@@user-ub3bv8gs5d handful of people? Where are the people who lost money?
Thanks so much. If only people bought into this thinking correctly. chasing quick gains is endemic
Amazing! Very well explained. Everyone is chasing the next big hype. Get rich quick or die trying.
One of my favorite videos of all time. Good job Joseph.
I became a "SHIBA INU millionaire" too with 100 dollars...I just stuck a 100 in to see if it goes anywhere. Haven't really gained or lost that 100, but that's how much I'm willing to lose to the SHIBA craze. Btw "SHIBA INU millionaire" just means you have a million tokens, which you can get with about 80 bucks.
Same. Put 100 in and set a sell order where I’d want to exit. Either hits or doesn’t.
Same as me. I got in when the price was at .800 ; I put at least 200$ in and receive 16.5 million coins. I realize the mistake of not buying more before this October boom. So I’m buying more every huge dip. So when it hits another boom I’ll make a killing of it
okay no, im an actual shiba inu millionaire and i have a few billion shiba and i invested a thousand last year so if youre gunna use a term use it correctly
You teach people better than some professors do.
The quality of your content is the highest I've ever seen through investing channels. Thank you for your work!
I'm glad you haven't gone the same way that the other 'big' finance UA-camrs have gone with their clickbait scams (Andrei Jikh, MeetKevin, Graham Stephan). Thanks for staying true! Love your videos.
I think they went to them to try grabbing peoples attention to more reliable finance and money information
Wth Andrei, you should have seen it coming. He lives in Las Vegas. I think even Graham does too. Slight of hand.
Great video Joseph. Glad we didn’t lose you to crypto! Hearing all my coworkers talk about crypto and their returns is making me realize that crypto is one big bubble and reminds me of warren buffet saying if your shoe shiner is giving you stock advice it’s a great time to sell!
crypto is a bubble? not gonna make it..
People has to realize that this world is going digital, including money. Unfortunately is like that. I remember when FB starts I say it was an stupid idea. Why people wants to socialize in digital world rather than real world?. I was wrong. Music, movies, entertainment, money, toys, social life is going digital. In near future is going to be food. 3D printers are going to make a big move to digitalize a lot of things. Just wait to see it.
ah yes downloading burgers
@@bhzard You're correct in that everything is becoming digitalized, now as far as which crypto will become a "survivor", that's anybody's guess.
@@FirstLast-cw8ko I think in some way crypto are going to be one option to make payments. Crypto has more advantages than disadvantages. We'll see.
Rules i think many people have forgotten for investing:
1. Only invest what you can accept loosing. Especially with high risk assets.
2. Investing isn't a sprint its a marathon. Getting rich quick is nice but at that point you are gambling not investing.
3. Do your own research. Don't get convinced by others that something is the next big thing. A lot of hype stocks just benefit the ones doing the hype.
4. Fomo is real. Don't get suckered into believing this is your 1 shot to get rich. It may be you miss a good deal but that's investing. Without research and data to back up your decisions you are just gambling.
The richest people in the world didn't get rich overnight. Some created a product that became highly desirable (Microsoft and computers), some provided a service (Amazon) and some invested wisely and did their research on new start ups as well as into long term investments. Did they buy at the lowest and sell high? Most of the time no they held onto their stocks and made their money off of dividends and leveraging their capital to further invest.
Great video Joseph. Thank You for the uploading it.
its the same with warren buffett how many value investors did nt live to be 90 or become the richest man in the world , but people don t use the same bias with diversification , look how many billionairs only have 1 stock ,buffet ,gates ,bezos on and on , butlook at yours and everyone elses portfolio hundreds of stocks
I 4x'd my money with Shib and sold out close to top... But then I bought back in with half of that and caught a falling knife, sold again at a small loss which drug down my profits.
Much easier to just buy Bitcoin and eth.
"hes one of those airplanes that returned from battle" LMAO
You are not being tricked, you are simply too late. For most of us it takes too long to get to the depth of things, balancing risk and treated it like another scam. These are investments that we were never gonna make, but regretting not getting it earlier. Sort of like buying NFTs, these are just not your market.
Third sentence hits the nail on the head. When I heard of shiba I was sure it wasn't going anywhere because I thought it was just a cheap rip off of dogecoin. But I underestimated the hype. And because such coins usually have a single spike before they die forever, I also didn't expect the second wave.
The voice of logic in an emotional world.
This is what I needed. Grateful I subscribed!
Great episode, Joseph. I appreciate you bringing psychology into the mix.
Great video! Still buying ShIB though. 😁
Excellent video. Excellent explanation. You really add value to the investment community
Great episode. Loved it!
how much time have you dedicated to create content like this? just amazing! I think you are way better than most of university professors that I have registered class with.
I took a risk with AMC early Jan and still holding. I usually hold for the long term\dividend . Up 382% from that risk currently.
u won someone lose u know ?
Love this content, Joseph! Many thanks
i almost never comment anyware on YT! But this is the best YT channel about investing without clickbait! Keep it up!
That clip is actually exactly how Billy Gates sounds and acts 5:04
Hey Joseph, I’m not good doing it alone but getting into the market has been my best decision so far in my road to financial independence as it turned out lucrative for me.
How are you able to earn profit because I tried and lost some money and I’m ready to give it a shot again
@@brodericks7391 Just as mentioned, months ago I began putting money into stocks and fx investment. Coming across a reliable expert, Levi Clemans has proven to be an edge for my investments as I make 3 times more of what my job pays me. So now I just continue to reinvest and have compound interest do it’s thing. Here, leave him a message
@@brodericks7391 LeviClemans)a( Gma
lcom
the little token I’m paying as commission for his services isn’t nothing compared to the profit I’ve realized.
Intrigued to know what approach Levi applies, as I’ve come across his appraisals severally on here. Left a message, I hope he can help me trade.
Thank you for this great video. This is real quality content
excellent well paced quality content. Keep it up Joseph!
Do you do videos explaining your growth portfolio?
A lot of big youtubers can take BIG RISKS because they can afford to lose a lot of money if they're wrong. Most ppl can't do that, and will lose all ur money if u take risks trying to get rich quick.
That graph about risk was really informative, got a link to the original video?
Search Howard marks risk revisited.
@@JosephCarlsonShow Thank you
15:00 if most people are at the bottom of the bell curve, it's not a bell curve :> he's spot on with range of values, but not with the diagram. should be centered towards the bottom.
Slow and steady wins the race lads 💪
There are some genuine investors here on UA-cam. Generally they haven't got many subscribers because they don't post hype BS. Joseph Carlson is one, The Popular Investor is another, Panda Boss is another though not all investing content and maybe Deadnsyde (though he picked up a significant following of idiots a while ago chasing his good picks and driving up anything he mentioned, much calmer community now though).
Why Thomson Reuters is not on your radar? It's boring and making profits. I would like to hear your analysis.
Excellent content keep it up!!
On your competition point I’m wondering why your not invested in PLTR ?
So many friends around me want “to hit the lotto” with these very risky assets. I simply ask, have you ever won big at a casino? It’s basically the same thing. The odds are against you.
In order to win you need to be the house. "The house always wins"
That is kind of true. We put in $ in the stock market thinking that we will make more. If we stayed out of it, there is a higher chance that we would have what we originally had. Of course, there is a small chance that we will have more because sitting cash does not seem to be productive. We need to be able to see the consequences or reward of our actions.
Joseph, I really like your channel and your mindset is one of the best on youtube.
However, I gotta ask, are you at all concerned that maybe we are in the biggest stock bubble in the recent times and the market may decline for years to come?
Dude, I love your content man.
The Psychology of Money’s chapter on Risk vs Luck was probably the best way to help me understand the role of risk and luck. People who make high returns from risky investments are lucky, we often never see the unlucky losers of those risks
not just share price, but inflation ;) what was $100 last year is at the same value if at $102-115 the next year, depending on what year. same with a stock that is $100 one year and still $100 the next, it's worth less than a year before.
appreciate the terminologies for all of these investment emotions.. helps so much with awareness for future decision-making
This should win the Nobel Prize against bullshit investing advice
I appreciate this, Joseph. Social media is crushing my judgement on investing. Making me feel like a have-not and wanting me to put some huge/risky bets. perfectly timed :)
SQUID tokens was the prime example. Basically a scam and almost all lost money.
You could say the same about some stocks too. Had you invested some random amount you could be a millionaire. It's hard to pick the right one. I for one do own crypto, it's a gamble but it's something that I believe is here to stay but I'm not naive enough to believe that I'm gonna be a one in a million example of someone who got rich on a random coin. Good video Joseph!
Joseph I really appreciate you highlighting these concepts. They could not be more important in the times we are in right now. On the one hand its great to see the percentage of retail investors increase but on the other hand its nerve wracking to see what that said increased percentage is "investing" in. How many investors take a Statistics 101 course right? Just knowing the concepts you presented in your video can be world changing for a young person. Very well done. I'm very impressed. Thank you for sharing.
Joseph regrets not buying tsla
He holds Tesla in his smaller account, the one that he actively trades to beat the S&P500
You can come back and say that when Tesla has matured as a company and trades at a relatively stable corresponding P/E ratio for its margins. With a P/E ratio of 375, if at any point within the next years it faces true competition and its perceived growth does not materialize, anyone who invested at this price will be crying themselves to sleep. While Joseph and anyone who decided to go with less hyped up stocks will still be trending upwards and thank their lucky stars. I don't think you paid attention to the point of this video. Tesla is a boom or bust at this valuation, and its risk-profile is prohibiting for many investors who go with less risky strategies. Your comment is a good example of survivor bias, coupled with the intention of instilling 'fear of missing out'.
@@awfm0 the competition is coming 🤣🤣🤣🤣
Anchoring. The story of my life.
So to summarize what this video meant to say without actually saying it is: there is nothing wrong with investing in speculative assets or crypto, but do your research first and only spendwhat you are willing to loose. Set a goal of profit and don't be too greedy, panic sell or panic buy. This apply to all forms of investing. Sometimes I think that the videos are a bit bias. Don't tell ppl watch out for meme crypto or whatever. Just tell the right strategy to invest in whatever the hell is that they are investing. That's it.
Great video Joe, thank you
Wow. Love the Survivorship Bias example. Brilliant reference 🤯 Great video!
Excellent video!
I liked the risk / reward interpretation , but I would enhance on it. Take the same X and Y axis labels, extend a line at about 45 degrees, so no change there. But instead of sideways bell curves interspersed (which is not really how it happens in real time), extend waves out from the 0,0 start point spreading out to infinity. Picture a pebble dropped into a body of calm water at 0,0 then graph the waves radiating outward from 0,0 essentially to infinity.
By its very definition, the RISK movement to X0 can reach infinity but with a less impactful weighting. Which to my mind reflects accurately on the chance of an investment going to zero being much more likely than reaching towards infinity. Be interested in comments to expand on this thought idea.
Everytime a new crypto coin/token appear, smart people make quick gains and the rest lose money. How are people this eager to throw they money away?
I'm sure the analogue about the aeroplanes in WW2 was actually Charlie Mungers job during the war. He figured out the "let's put armour where there was no bullet holes" bit.
I'm glad here is someone to educate dreamers. Thanks for your content.
What are the best subreddits or discord’s to help with investments
Excellent presentation. Focusing on what Charlie Munger calls" the Psychology of Human Misjudgement" and much of what is now called "Behavioral Ecomonics.", But the piece de resistance was using Howard Marks ' clarification of "Risk vs. Return" as the clincher. Again, Bravo!
Wow. This is so interesting. Surviving is what separates you from the rest. Great video.
My nigga saying “survivalship” bias 🤪🤠😅
Really great video on the different psychological mentalities people have stocks. The most important thing to do is keep calm and level headed. Emotion has no role in making you money on the stock market.