The Stock Market - Why does it attract people looking for a quick buck?

[It's Snake Pliskin]

As the title asks.

 

[wayneL]

Snake,

1/ I think it's casino mentality.

2/ Marketing. They aways trot out some lucky sucker who jagged a few wins in a row and made a few bob.

Example

I take 1000 people into the casino each with $1,000.

I tell half to plonk it on black, the other half on red.

500 people leave broke.

Of the remainder I tell them the same plonk everything (including winnings) on either black or red...half on each

125 more go home broke

Repeat the same process

now we have 60 (rounded down) left

then 30

then 15

Now we have 15 people with $32,000 from a starting bank of $1,000

I could use those 15 people for testimonials can't I. I have 15 people with > 3,000% profit.

That'd suck a lot of people into thinking they can win big.

The very same thing is happening in the sharemarket

Thats what I think anyway.

 

[It's Snake Pliskin]

Thanks Wayne.

I see a lot of people talking about options before they can trade stocks. The ASX website is feeding a lot this information to them I feel. And then there are the options courses salespeople who make it look great in the leadup to there seminars etc.

Just read some good American books to realise the reality of the market - thats what I think.

 

[kerosam]

not completely to make a quick buck... educating myself about the stock market as well... after all, a fair bit of super is in that wealth creation vehicle... but sometimes, i do get tempted with some hot and high spec stocks.

 

[brerwallabi]

Well if they believed that only 3% are winners would they.
Why do people buy meat raffle tickets
Why do people buy lottery tickets
Why do people put into lottos
Why do people play pokies
Why do people back horses
Why do people compete
Why do people go to casinos
Why do people buy properties
Why do people work
I'd rather spend all my time in the stockmarket because I can make a buck although I lose some too.
But the wins outweigh the losses, I only do one of the above "whys" on saturday afternooons with a few schonners when I am with the "herd" I guess I am human.

 

[happytrader]

The odds of successfully making a quick buck out of the stockmarket are greater than anywhere else. Simple. It only goes up down or sideways and to top it off losing 100% of your stake in one fell swoop is actually rare.

Cheers
Happytrader

 

[It's Snake Pliskin]

If the average punter saved more and educated themselves, they would not believe what life has in stall for them - if only they got out of the comfort zone. For this reason, I believe they come looking for a quick buck and stay or get destroyed.

 

[starlight]

Am going to knock off the 'Why' from your question SP.
So we have Does it attract people looking for a quick buck..?
To say double their money in 3 days? I wouldn't take that risk in the stockmarket. Prolly better to risk the 00 and put my money on red.

go well
sl

 

[happytrader]

By the way, whats the matter with making a quick buck?

If you've got what it takes, good on you. If there was ever a place for the little guy or gal to make a quick buck the market is the absolute best place to do it.

We've got a new breed coming up through the ranks - kids raised on video games with the play to win mentality. The first thing a kid who plays Drug Lord asks is, Whats the range?

Cheers
Happytrader

 

[It's Snake Pliskin]

Nothing whatsoever Happytrader,

Good on them if they can do it.

Snake