by CaspeanSea
Hey folks. Among my friend group I’m known as the investor/trader guy.
They’ve always known this and one or two of them would occasionally approach me to discuss investing or trading. This would happen maybe once every 5 or 6 months.
Over the last couple of weeks I had the most amount of people approaching me asking about trading stocks and options in a very long time. I’ve been trading for over 12 years and it’s never been a good sign when a large number of folks who are normally not at all interested in the stock market, suddenly become interested.
This is by no means the holy grail of anything. But I’ve noticed that this kind of behavior usually comes in late in a cycle and I’ve tended to see markets take a dump on everyone just a few months after a lot of newbies get into the market.
There was this story about Joe Kennedy, the father of JFK. He was a big investor in the 20s. He was getting his shoes shined sometime in 1929 and when the shoeshine boy gave him stock advice he immediately went and sold everything. Markets crashed that same year.
I remember another anecdote from a WSB degen here sometime in 2021. He said his uber driver had his trading app open throughout the ride and was trading options.
Usually we’re closer to the end when you hear a lot of these anecdotes piling up. So I’m interested if anyone else had this same experience lately in maybe the last month or so.