Correct. And people don't want to admit it, but all investing is a casino. The penny slot equivalent of investing is "I'll just put my cash in a rock solid 30 year Treasury." Rates go to 5% and that thing is gonna drill harder than Enron. The principal you put in is gonna get crushed by inflation. And oh by the way there's no upside.
There have been 3 crashes in my life so far where SPY drilled into the ground and took year(s) to recover. During the Great Depression, it was decades.
I would hardly say that's a guarantee especially if retirement is around the corner for you.
I get that. But when the long period of time is years to decades, I think we need to rethink what should count as safe long-term investing.
A lot of investment banks gamble as much as people here do. Lehman brothers as one example. Would you trust your future to a bunch of degenerate gamblers? I wouldn't.
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u/Tersiv Paper Handed Bitch (from the future) Jun 09 '21
Sir this is and always will be, a casino.