There seems to be little talk on finance on leftist spaces. Like tf do I do? I finally saved a few thousand dollars. Now what? Buy a game? Go on holiday? Buy a phone? Fuck consumerism. I can yeeet it into a term deposit and earn like 1% return in my country with rates close to 0.
Thanks to living with my parents, and being unable to buy a house, my financial situation is stable. What do I do chapos? While I wholeheartedly am against the stock market, it appears to be the only viable tool for retaining money (outpacing inflation) in our late stage capitalism at the moment.
I guess what I'm asking is is there any leftist resources/ideas on finance in a capitalist world. Many thanks, a fellow distressed chapoist.
Day Trading is never a good idea.
The DOW Jones is fanfiction for businesses
Yep, Day trading (esp with Options) is practically a Casino, and is very easy to get addicted to in the same way that sports gamblers or lottery addicts do.
You may start off seeing massive earnings, but the longer you partake in it the more likely it is you'll lose everything. And remember that the house (BlackRock) always wins.
I wouldn't say never try Day Trading (just as I wouldn't say never bet on sports, or buy lottery tickets) just don't do it with any more money you can afford to lose, or at all if you aren't confident in your self control.
Its speculative bullshit and I have to look at any leftists partaking in that with a real skeptical eye
The Dow was designed to be a low-risk slow-growing index whose short-run volatility is supposed to be just noise, but the Dow's day-to-day oscillations have turned into a mood barometer for day-traders. That aspect is pure fanfiction, a grift enabled by the business press.
"I have, which will surprise you not a little, been speculating partly in American funds, but more especially in English stocks, which are springing up like mushrooms this year (in furtherance of every imaginable and unimaginable joint stock enterprise) are forced up to a quite unreasonable level and then, for most part, collapse. In this way, I have made over £400 now that the complexity of the political situation affords greater scope, I shall begin all over again. It’s a type of operation that makes small demands on one’s time, and it’s worth while running some risk in order to relieve the enemy of his money." (Marx, Letter to Lion Phillips. 1864)
Marx agrees (£400 then equals £50,000 now)
Well if Marx did it :marx-angry: :curious-marx: :marx-ok: :marx: :ritzy-marx:
Invest in Vietnamese companies to give them the foreign capital to develop their economy under Đổi Mới.
Invest early, and often. Open a vanguard account and invest in a broad market fund ex: vanguard VTSAX.
You're living under capitalism, you might as well benefit slightly from it.
ty checks name Satan! Yeah, active trading seems kinda cursed. Will start of safe, see how it goes
There was supposed to be a finance/investing comm in the works and a user said they would be willing to give out advice on daytrading. The thread is in commrequests if you want to go find it.
I think we should all learn investing and invest together as a strategy or at least create a fund from a portion of our returns. Then use that fund to help the site or donate it to various leftist projects. Make capitalism work for us (you know what I mean).
Just do the opposite of what they do at r/WSB.
...or maybe do exactly what they do. idk I never quite understood what the hell was ever happening there.
I don't think anyone can truly understand the stock market but if you want to invest I think the best way to get some returns is to put it into "safe" stocks that will have stable long term growth or dividends. These are fairly low risk and you'll see some returns so you money doesn't devalue as much over time.
Don't bother with speculation, margins, shorting, day-trading unless you know what you're doing . Those are no better than going to the casino.
Try to buy when stock is undervalued (a lot of companies are like that right now but there are exceptions) and sell a bit when it's overvalued.
/r/personalfinance has a massive flowchart in their sidebar on what to do with money. It’s basically my finance bible. Check it out.
Take as much money as you can and use it for good purposes. Buy at least one gun. You can't live without 💰
