Originally Posted by
JohnJones
I don't like crypto & stock markets. You're basically making money off people's mishaps.
The science of most paper/digital assets is like this - 90 percenters get duped into buying an asset, price go up. The 10 percenters who had bought the same asset at a cheaper price way earlier than the 90 percenters sell their remaining assets to make a profit. In the end these 90 percenters lose out and have to wait until another event triggers a bull market so that they can either sell at equanimity or at a slight profit, but most of them will likely be duped to sell at a loss to "recover" any remaining capital. Then it's rinse and repeat again to make the 10 percenters rich.
If you really want to have better financial stability then you need to be able to create value and learn how to manage money properly. Spending your paycheck balances on punting immediately is the fastest way to get poor. Wasting time not upskilling yourself in order to get a better paying job or to start a business is stupidity. Believing your boss's words that he will give you a promotion, pay rise and a fat bonus is also dumb loyalty.
Currently I own property and high-dividend stocks (30% annual payout). Once I own enough of both I plan to start a business overseas and expand from there. Punting overseas would be cheaper than here and I can get better quality wives out there as well.
I'd say punting here in Sydney can be fun but slowly the industry here is being ruined by grannys and princesses being accepted as WLs. Once I get the chance to leave Sydney I don't think I'd miss punting here at all.
Reply With Quote
