I went and saw one of my regular WLs this week. I have a good punter/WL relationship with her since I’ve been seeing her on and off for over six years.
After I popped, we still had some time remaining and had a bit of chit chat. She started telling me about her crypto investments and how much money she was making. She said she studies beforehand and that I should also invest in it. She rattled off a few types of crypto I should check out. I didn’t say anything and just had a little chuckle to myself. If only she knew that crypto is not based on any economic principles apart from greed and naivety.
Is this a modern version of the case of bellhops in New York giving out stock trading tips prior to the 1929 crash?
Tell that to all the people that have turned a few hundred dollars into tens or hundreds of thousands of dollars. They will laugh at you!Originally Posted by Fred Flintstone
People who think they are so clever and rational have been saying the Crypto "bubble" will burst for 5 years now. Probably the same smug people who have been saying the property "bubble" will burst for 30 years. And meanwhile "naive and greedy" people have been getting richer and richer.
ML /WL - it’s a job. There is no correlation between IQ/EQ and job description.
Fred . Maybe open an account and drop a months punt spend in …
Now, if a foxy lady suddenly appears in your WeChat, immediately asking wh-t you do for a job and how she runs a cosmetic business, plays golf and in her spare time likes to play with her investments (crypto inc) and she’s telling you … it’s much easier too communicate in WhatsApp .. chuckle then
https://itbrief.co.nz/story/more-cou...in-2022-expert
But it will burst… we were just wrong about how long it will take! Give it a few more years and it’ll all come crashing down, I promise! 😉
Hahaha! Yep, stay away from those speculative investments.
Keep your money safely in the bank.
If you invest $100,000 in a term deposit you can earn .25% pa.
Wow! That's $250 in one year. That's enough for one punt!
oops, repeat post
I have been inviting in crypto for past 4yrs. I research the subject daily. Crypto / Blockchain is currently where internet was in 1998.
Over the next 10-15yrs crypto, NFT, Metaverse, gaming, Defi will be a major part of our daily lives.
It’s not for everyone but put time in to learn. There is ALOT of money to be made. It’s made me very financial secure. Hope this helps 🙏🏽
$100k invested in Vanguard index funds would have given you a return of about $30, 000 last year. That’s enough for 120 roots. Get rich slow. Long term you can’t beat the index! People have been trying for 100 years to beat the index, but can’t.Hahaha! Yep, stay away from those speculative investments.
Keep your money safely in the bank.
If you invest $100,000 in a term deposit you can earn .25% pa. Wow! That's $250 in one year. That's enough for one punt!
Crypto performance is not based on any economic principles. It’s not backed by anything. It’s all pure speculation. It doesn’t look at any economic data, so no amount of trend analysis is going to help you. The boffins in China that are mining this shit perhaps look at their electricity bill in awe. They probably need some air conditioners to cool down their computers. You may as well speculate on black or red on the roulette wheel. How many mugs have had their crypto accounts drained and “coins” stolen?
So many people running to the support of WLs. Jesus, can’t open me mouth without a pile on. You put them on a pedestal and worship them. Most other forums refer to prostitutes and hookers. Oh but on this forum, you call them WLs as if they are from some saintly, hallowed profession. Sure, we can treat them respectfully and kindly, but don’t mask the name of their profession. Is that to hide your embarrassment or theirs?
One complete fuckwit on this forum even tried to convince me that an RnT masseuse who wanked cocks for a living and full service prostitute were perfect, socially acceptable professions, right up there with doctors and lawyers. When it was suggested that perhaps he could ask his wife/daughter/sister/mother to join that profession, he soon shut up.
If the WL is make excellent investment on crypto why is she still being fuck by punters and work long hours.
Do you have experience with Vanguard?
Would you recommend them?
Are they ETFs or managed funds?
Thanks in advance.
She's got to invest her money somewhere. If she's an Aussie citizen, she might attract the attention of the ATO if she is depositing money into her bank account and not declaring any income. On the other hand, she might have an interest in making money to safeguard her future. WLs don't tend to work till age pension age.
Do you have a link to that figure? It sounds:
a) untrue
b) wildly exaggerated
and therefore,
c) both of the above
Yes, Vanguard specializes in low cost, index managed funds. They also have EFTs. Next year they are entering the superannuation business in Australia. They try to match the index without unnecessary churn. I am heavily invested in Vanguard and have been for 20 years.
Over the past 120 years, you will note that both property and shares have averaged returns in the 10-12% range. For property that includes capital growth and rent. For shares that includes capital growth and dividends
Glad to help Sir. The one year return on Aussie index funds with Vanguard was 30.2%. The return in US shares was 29.1%. Even my fuckin’ Union controlled industry super fund got 30% return. If you’re not getting that, then you’re the mug here.
Download the chart and see for yourself:
https://www.vanguard.com.au/adviser/en/index-chart
Crypto is just Multilevel marketing without the door to door sales. Its all referrals and promoting your friends to buy in too.
Agree that we should not be stereotyping. In 1929, just before the Wall Street crash, the story goes that bell hops were giving share tips to business men and wealthy guests who visited the Waldorf Hotel. The market, having sufficiently recovered from WW1, was well and truly overheated by then. When the uneducated masses were piling into shares at the end of a massive bull run, it was time for the serious investors to get out. The inference being that the poorly educated, working classes only find out about opportunities when the game is nearly over. It’s perhaps a harsh assessment, but true.
Similarly, we are at the top of the market. Spectacular profits have been made on the general share market since the first Covid slump in March 2020. Inflation is up, interest rates are going to rise, there is a lot of M&A activity going on and central banks are going to stop quantitative easing (the bailout must stop). When a WL with no real financial knowledge advises customers on the fantastic opportunities that lay ahead with crypto at this point, I wondered whether the time is right to bail.
I have always thought that crypto currency was just like trading regular currency. If someone buys and someone sells, you have a market. Still needs real coin to operate.
Yes, you are very correct. Perhaps she has a degree in economics from the London School of Economics and then went to Harvard to obtain an MBA. Her genius quickly recognized, she worked as a very successful Wall Street banker for many years, making millions. Not fulfilled career wise, she felt she could contribute to humanity in far better ways by becoming a prostitute in a Sydney brothel. While doing this, out of the goodness her heart, she very generously provides investment advice to her many brothel clients, so that they too may become wealthy like her. Her clients are not complaining - they get to root a smoking hot girl while benefiting from her vast financial experience. Win-win I say. Now back to your cornflakes
Well I can sense a lot of sarcasm here. Some justified and rightly so why would you take investment advice from a WL? But keep in mind these women see hundreds of men and some are regulars who could be smart investors and keep giving tips where to invest money. Anyhow lot of these WL could also taking home more than you and I.
If you speak to the younger guys they swear by the cryptos and still believe bitcoin will go over 100k soon. So the hype of crypto is not going to end soon.
Obviously the WL is getting told this by other customers, and there’s every chance that they’re successful traders or investors. Crypto technology is what a lot of people invest in, ideally it’s secure, fast and decentralised. That in itself is very attractive. Look at what’s happening in Turkey and their inflation due to government fiscal policy. Governments can own crypto but they can’t control it. El Salvador has BTC as legal tender and it works fairly seamlessly for a newly introduced currency. Crypto is not easy, their are a lot scams associated with it but you would be very naive to dismiss crypto, it is certainly the way of the future.
I don’t have any crypto but I am contemplating entering the market as I don’t trust governments not to fuck me over, and with the world spiralling into uncertainty, inflation will surely skyrocket.
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