I’m starting my investment journey. I’m 20 years old and I want to try and maximize my returns. So I did some digging around on the internet and found out about r/wallstreetbets. I could not believe my eyes. People turn 1k into 1 million dollars. Some people know how to beat the market?!! Are these insiders? What are they doing that I don’t know? I have saved up a little bit of money and want to invest.
ELI5 what is wallstreetsbets?
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Gamblers that gamble life’s saving to make a lot or nothing at all. If you see one threat about making millions there are 100’s that lost it all.
you’re missing all the turning 1 million dollars into 1k posts. it’s gambling on options gambling to some extent on a stock if it’s going up or down and costs associated with the bet.
Well, SOME people turn 1k into 1M, but many people turn 1k into 0. In some markets, you can turn 1K into less than zero (you owe more than you put in).
I think there’s selection bias: people losing money (or only doing average) aren’t going to post about their success.
Safest bet is CDs or bank-guaranteed instruments, an index fund is more risky, but you can probably tolerate that risk at your age (assuming we’re talking about long-term returns here), and there are hybrid mutual funds which put some money into stocks and other into “cash” (Treasury notes)