Why not go to Vegas and play roulette then? At least there you know exactly what your odds and payouts are and there isn't a massive information asymmetry.
I just don't think saying "Don't put your money in ETFs where you can get returns of ~10% a year for 40 years barring mass catastrophe" is particularly valuable. Even someone putting 83$ a month into an SP500 index can expect to make almost 400K over 40 years. Whereas I would expect a person yolo'ing 1000 a year on random shitcoins and memestocks to lose $40K over 40 years.
Maybe I'm crazy but I think if you can find 1000 a year to throw away on pure gambles surely its a far better choice to invest that in something that's virtually a sure thing on long time scales?
Everyone is looking for get rich quick schemes which frankly short of starting the next Instagram in your basement simply don't exist.
I just don't think saying "Don't put your money in ETFs where you can get returns of ~10% a year for 40 years barring mass catastrophe" is particularly valuable. Even someone putting 83$ a month into an SP500 index can expect to make almost 400K over 40 years. Whereas I would expect a person yolo'ing 1000 a year on random shitcoins and memestocks to lose $40K over 40 years.
Maybe I'm crazy but I think if you can find 1000 a year to throw away on pure gambles surely its a far better choice to invest that in something that's virtually a sure thing on long time scales?
Everyone is looking for get rich quick schemes which frankly short of starting the next Instagram in your basement simply don't exist.