Why Millennials Shouldn’t Buy Stocks (Until They’re Wealthy Enough)

Anybody thinking of buying into an aging asset like the US stock market needs to read this first

Are you trading Stonks? Set your buy orders at the circuit breakers

I love cheap assets

I woke up today 3/11/2020 to all the markets in red, we have coronavirus in the news and oil selling off. The reasons are more complicated than a few major events. We’ve been expecting a market cool off for a few years and most experts have predicted 2020 as the year it would hit us.

Market cool-offs aren’t evil, in fact it’s what the market needs to survive. Boomers own plenty of stock in mutual funds & 401k’s. Retirees shouldn’t be highly exposed to equities like stocks, but the FED leaves little alternatives with interest rates nearing negative.

Playing reindeer games

With the markets in red, I’m looking forward to what I can buy. I turn on Squawk box, CNBC’s mess of a financial commercial. They announce that the S&P has “circuit breakers”. If price falls 7% on the day trading is paused, 14% on the day and another pause triggers. If the market falls 20% they pack up and go home.

That’s no fun for smart buyers

Some of us have done research and are trying to buy assets on the cheap. Why price millennials out? We already have negative feelings about wall street after coming of age during a crash with no recovery. High barriers to entry have forced us to adopt crypto trading over stocks.

Thank god my exposure to stocks is small because their market is dying and selling assets to live off of. If they ever put circuit breakers on BTC, I won’t be able to make sats off of weak hands.It’s easy for me now but not when BTC can no longer drop 40%. The thought of the bitcoin network shutting down makes me laugh. It’s things like this that make me happy that I rarely need traditional markets.

Bitcoin has the holders

BTC game theory goes beyond the miners and 51% attacks. I recently read something @ coinmonks, that goes into more detail about the psychology behind holders and their effect on the market. This to me, is the interesting stuff that no one talks about.

I’ll be back for stocks when there’s blood in the streets or BTC above a million USD.

Now you don’t even need to leave NevaFomo.com to swap over 400 different cryptos. Here @ https://nevafomo.com/satoshi-notapopos-collection-of-crypto-dex-swaps/

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