I find it hilarious how many investment type talking heads think that a lot of people used those checks as an investment.
I bought maybe $500, tops, of some crypto. And lost at least half of it in value since then. lolz
But most was spent on paying down my CC.
Almost anyone I talk to at work, or any old childhood friends I run into, or a handful of old buddies or ex-coworkers i see on social media - almost all, are clueless about crypto, much less any investing. Very few have a 401k - and ones that do, can't really explain it. they just know money comes out of their paycheck and they have some extra money for when they get older.
But so many of these investment guru talking heads and/or reporters/pundits, all still act like damn near everyone was buying stocks and/or crypto with their stimulus checks.
Again, most that I know used that extra money to pay rent, car insurance, cell phone, stock up on groceries, etc.
I haven't heard one old buddy or a co-worker, tell me they bought a bunch of shares of this or that stock, or bought a bunch of crypto.
Here's a snippet from an article.
["Trading analyst Jared Dillian wrote on August 11 that the Bed Bath & Beyond craze in particular seems likely to be fueled less by retail investors than by hedge funds, since, Dillian surmises, many retail investors have blown through their COVID-era stimulus checks.
"So, the meme-stock trade today isn't really r/wallstreetbets versus big bad hedge funds, it's big bad hedge funds versus big bad hedge funds. Those Reddit users who are still around are simply along for the ride," writes Dillian."]
I bought maybe $500, tops, of some crypto. And lost at least half of it in value since then. lolz
But most was spent on paying down my CC.
Almost anyone I talk to at work, or any old childhood friends I run into, or a handful of old buddies or ex-coworkers i see on social media - almost all, are clueless about crypto, much less any investing. Very few have a 401k - and ones that do, can't really explain it. they just know money comes out of their paycheck and they have some extra money for when they get older.
But so many of these investment guru talking heads and/or reporters/pundits, all still act like damn near everyone was buying stocks and/or crypto with their stimulus checks.
Again, most that I know used that extra money to pay rent, car insurance, cell phone, stock up on groceries, etc.
I haven't heard one old buddy or a co-worker, tell me they bought a bunch of shares of this or that stock, or bought a bunch of crypto.
Here's a snippet from an article.
["Trading analyst Jared Dillian wrote on August 11 that the Bed Bath & Beyond craze in particular seems likely to be fueled less by retail investors than by hedge funds, since, Dillian surmises, many retail investors have blown through their COVID-era stimulus checks.
"So, the meme-stock trade today isn't really r/wallstreetbets versus big bad hedge funds, it's big bad hedge funds versus big bad hedge funds. Those Reddit users who are still around are simply along for the ride," writes Dillian."]
