Stock market is annoying

Everyone and their mother (like literally their mothers also) thinks that they are a master stockpicker because they own 1.5 shares of inexplicably mooning TSLA or because their "portfolio" is up 20% (lol) in H1

Can't wait for the market to crash so all of these Billions enthusiasts can wipe the tears off of their Robinhood cards and fuck right off

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Comments (70)

Funniest
Jul 9, 2020 - 2:27pm
KREBSCYCLEOMG:
Can't wait for the market to crash

wut

Commercial Real Estate Developer

  • 31
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Jul 9, 2020 - 5:41pm

Markets don't crash within hours and anyone with any iota of financial understanding will have a general sense of when to pull out

Just fucking annoying how everyone is acting like they're a finance god when all they've done is having developed a newfound interest in watching CNBC (lol) and bought literally anything but hospitality or travel stocks within the short term. There is someone in my periphery who just started watching Billions and is trying to "connect" with me to learn more about my hedge fund experience (...I work, and have always worked, at a BB). Another person I know is also now looking into making a switch from marketing at a F100000 to ER ("Bernstein looks interesting" lol fuck me) and is wondering if he should register for CFA level 1 because he realized he loved finance.

Mind you, we are all in our early 30s so there are really no excuses for such naivety.

Controversial
Jul 11, 2020 - 2:15am

Odd how many commenters are coming at you with "why do you care" when they're the ones who care enough to enter an anonymous message board and read your post and ask you that question.

I hear you man. Its annoying to put your time into learning the actual tools of the trade, only to see amateurs act like they can pick it up overnight. There's few jobs where untrained people just assume they know as much.

When I was a corporate lawyer (low skill job that's 10x easier than IB), every non-JD respected that I was a professional and they weren't. Which was odd because I felt like they could do my job pretty easily.

And now as someone who's pretty far along in finance with several years of IB and investing behind me (and I've found all those years challenging and educational) its super weird to have everyone I meet think they can do it.

True story, the guy stocking the shelves at my local Trader Joe's has really strong views on stocks. I talked him out of shorting Tesla last year, and he came back with "oh but I can still buy a put." Had to pull teeth to convince him not to do it. Can't wait to ask him how much money I saved his ass this week.

Most Helpful
Jul 11, 2020 - 11:12am
Dr. Rahma Dikhinmahas:
Odd how many commenters are coming at you with "why do you care" when they're the ones who care enough to enter an anonymous message board and read your post and ask you that question.

This is some 4th grade logic. It is entirely possible to care enough to question why someone cares about something else. It is not a contradiction or hypocritical in any way.

Dr. Rahma Dikhinmahas:
True story, the guy stocking the shelves at my local Trader Joe's has really strong views on stocks. I talked him out of shorting Tesla last year, and he came back with "oh but I can still buy a put." Had to pull teeth to convince him not to do it. Can't wait to ask him how much money I saved his ass this week.

Didn't happen

Commercial Real Estate Developer

  • 13
Jul 9, 2020 - 6:59pm

From now on, the market only goes sideways, never down!

  • 1
Jul 10, 2020 - 10:28am

I think that is a very curious phenomenon and I feel you mate. GCSE and college drop out flexing on instagram their Plus500 or IG account with +20pc performance on 5k accounts and putting 'trader and investor' in their bio is awful.
Had a discussion with a friend of a friend - he works as club promoter and personal trainer- where he said that he could easily replace me in my bank.. and suggested me to read books on technical analysis! (he has trader in his bio on instagram)

It can be annoying for a bit. I remember that at the beginning every time I read these BS I had flashbacks about hard times on exams like stochastic calculus II or numerical methods, market risk etc and my first days in the bank where if I didn't have clear how to be Gamma long Vega short and flat Vanna I would have been in trouble.

I think that you just have to be patient and second them. Let it go and remember: as soon as sports or other events happen they will switch again from trader to team coach or virologist or whatever ;)

Jul 10, 2020 - 10:35am
BrianHunter:
It can be annoying for a bit.

Why? Who cares if someone is posting their Robinhood returns?

Honestly it just sounds like someone you should probably unfriend just because that is an inherently douchbag move.

Commercial Real Estate Developer

Jul 10, 2020 - 10:46am

Don't get me wrong, you are right on this and I should not care (indeed I let it go).
Is just that I remember how hard and for how long I had to fight and study, whilst the first college drop out or personal trainer (with all due respect) come and say around 'yea I'm a trader!' or tells me to buy stock X because the Fibonacci resistance or the Gann cicle show a buy opportunity

Once I priced this I can laugh, but at the beginning I find myself a bit bewildered

Jul 12, 2020 - 12:52am
Sequoia:

Gods I love being a growth investor

Shouting out to your polytheistic Gods - interesting. Just curious - who is your favorite? The Sun God, Ra? Or is it Venus, the Goddess of Looooveeee...

https://pa1.narvii.com/7114/e9f1090eb9320da9c0728cfc13b429a3584917dcr1-500-281_00.gif

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

  • 2
  • Prospect in IB-M&A
Jul 10, 2020 - 2:18pm

what annoys me the most is when retail investors and everyday joes only ever talk about the stock market as if that's the only asset class that exists. why doesn't CNBC ever cover fx/bonds/commodities?!

Jul 10, 2020 - 4:36pm

I kind of hear your point. There was a whole lot of price indiscriminate buying going on. Bunch of people bidding up prices on garbage stocks because they dropped off a cliff and appeared cheap back in March. check the correlation between all S&P individual stocks. it's remaining fairly high while volatility remains muted. usually this relationship is positive. and what has the s&p done? gone up. Interested to hear any long/short ideas

Jul 10, 2020 - 9:10pm

There are still sectors that are too cheap. A lot of midcap cylicals are still underpriced. I'm focused on business services and manufacturing, but pretty much anything cyclical has a decent chance to be a good deal.

Stuff in and around entertainment is still too beaten down . . amusement parks, venue services and the like. It's not my area, but the bear thesis on those companies is so thoughtless I had to take a small bite in my personal account.

I won't call the market cheap but I don't find it ridiculous at all that it's trading where it is. If anything is ridiculous, it's people willing to pay any price in the world for the biggest tech stocks because it allows them to think they're still in the market. Amazon and Microsoft are the new savings accounts.

Jul 12, 2020 - 12:40am
DDTG:

How many times do I need to repeat it? Stocks only go up!

Like your dad's dick

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/
Jul 12, 2020 - 12:38am

Can't clawback dat dere divvy boyyyy

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/
Jul 12, 2020 - 12:40am

And you best believe yaboy reinvest
Yeah yeah yeah yeah
Invest like the best bro I fucking own three copies of rich dad poor dad and two cashflow quadrants fuxwitme

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/
Jul 12, 2020 - 12:44am

Tbh I feel like a really bright guy because I wrote a paper on how great tesla is when it was just the roadster for my like community college marketing 101 class and I feel like someone should bring me a bag of cash any day now for that

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/
  • 1
Jul 12, 2020 - 9:16am
TooFailToBig:

You could've brought yourself one if your bought what your own paper was saying and bought Tesla Stocks :P

with what money
you either turn in papers or you make paper but you dont do both

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/
Jul 12, 2020 - 1:41am

This whole thread just smells of gatekeepjng and people being jealous that others are getting lucky and they are not.

Just get it over with and mind your own stuff. Professional runners don't get mad when an amateur gets a lucky run and think "But I spent 4 years learning how to run in school and I've been running for 5 years, they shouldn't win". It just seems really immature if you ask me.

  • Analyst 1 in IB - Gen
Jul 12, 2020 - 4:43pm

I love it when I get lucky running, I ran a sub 4min mile in high school, that was crazy lucky. They told me that only guys that train for 10+ years can do that.

Jul 13, 2020 - 5:04pm

only in the financial markets can a person take a little money, and turn that into a large amount of money, with minimal education, experience, or effort...with a close to 30% chance of success.

the lottery can do the same thing....but with a 0.00001% chance of success

so the stock market is not annoying..it is perhaps the greatest wealth generator in the history of the world

Jul 20, 2020 - 12:09pm

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Jul 20, 2020 - 4:23pm

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