Anyone lose big money on the stock market?
How much did you lose and how did you recover? I lost close to 35K chasing biotech stocks and penny stocks. I know blue chip stocks are the safer bet but I ended up on the wrong side and after losing so much money in stocks, I am very hesitant to put any money into stocks even if they are for blue chip tickers. What should I look to do? Appreciate your advice.
Betting on biotech startups and penny stocks is no different than playing blackjack... Everyone has a strategy, but you're taking a huge chance. I don't knoe your financial situation, but tour first 10k should usually be in indexes, and from there I think your holdings should start with ETFs, which allow you to invest in themes, but gives you diversity. After that, individual stocks that you believe in, and then use a little bit of leftover money for the "gambling" stocks.
I started small but kept "averaging down" and that's why it piled up. Learnt my lesson though. I just came to terms that that money is gone and trying to find better safe ways to invest moving forward. And will research on the indices like everyone is suggesting and work on that. PS: Started with ETFs and lost money on JNUG and JDST and then some in oil ETFs. Made money in both but lost them just as quickly.
Apply your lessons learned from your initial failure.
-50k
I've just stopped playing with stocks and exited stock market. I realized I'm not good at it and It takes a lot of time and mistakes to get better at it which I can't afford. It's a game played by the big guns with access to tons of information, predictions, analysis and insiders and there are far too many people playing that game.. So I just put my money into index funds and 401k and hope they don't blow my money like they did a decade ago. I hate to say it but the bankers got what they want. They designed a system so complicated that people just pour in their savings and ask them to take care of it for them and no repercussions if they failed to it.
I would look at indexes... Investing is very simple and cheap, especially now with all the tools we have. What you are talking about is only true if you want to day trade, which is very risky. If you're looking to save ans grow your money, then you don't need to worry about any of that stuff
I would suggest use one of the investment banks they have bankers If you can work closely with the bankers it makes a lot of sense
S&P 500 for the long term. Money goes in, doesn't come out until after retirement. Boring but it works.
Lost 30k in the 2007 crash
For now I've invested some money in Wealthfront. Both in the savings account and investment account.
Lost money in gold but it is part of my perm portfolio. I have much higher return from stock sections. If you can’t take a high risk and isn’t a Wall Street Affiliate better invest in index funds or a balanced portfolio you pick yourself. Sp 500 return is 400% in the past 10 years. It may not continue in the future but you can generally expect an avg of 6% yoy return in the long run. Another advantage of choosing ind fund is the cost is 10-100 times lower than actively managed fund while offering much smaller fluctuations than individual stocks
Don’t buy individual stocks. Put All in VTSAX. Keep it there, buy more the more money you have.
Taking the same approach. Putting money in various index funds and try to add more every month
Investing in the total stock market Index is risky right? If the market is down, you lose money from all industries and if only the tech industry recovers slowly, other industries might not and might cancel your overall growth. The 1yr, 3yr and 5yr chart show 8, 14 and 10% growth. My 401K has better returns than that.