I talked to my friend who is majoring in economics today and

>>2252474
90% of people do fail though.

I think what he means though is that trading is not worth it. Investing certainly is. Trading is too it just requires a little more skill and risk. Of course investing is worth it, stfu.

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>>2252474
>I wanted to tell him about my crypto gains but chose not to.
Good thing you didn't, he would be in danger of commiting suicide for being a nocoiner.

>>2252474
>hasn't even heard about index funds
>recommends deposits

Sounds like your friend is failing in economics.

>>2252474
He recommended short term deposits probably to avoid having your savings locked away, where their purchasing power is degraded by inflation

>>2252474
You will encounter these people alot, especially on the internet.

> Muh you can't make money trading, Muh efficient markets.

It's best to just nod in agreement while you think about your gains. The same thing you do when someone starts babbling about religion or political bullshit.

>>2252474
>I talked to my friend who is majoring in economics today

So you are taking investing advice from someone who doesn't know shit about shit.

>>2252505
>>2252493
I did bring up index funds. But he told me that, for instance, the American market can reverse in its bullish trend any moment that America chooses to go to war again, and also mentioned that the market still hasn't recovered from the 2008 crash.

>>2252474
Has your friend ever had a full time job? Has he made money ever?

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>>2252474
I would LOVE a chance to talk to you and your friend about pre-tax contributions and pre-tax accumulation whole-life insurance options for your brighter retirement future. Retirement isn't just for 401(k)s and the elderly anymore. It is for everyone, including you friend.

>>2252572
Tell him as of right now, if Trump literally said I'm a Russian spy please impeach me, everyone one would literally just buy the dip in that very second. He's obviously not paying paying attention to how retardedly optimistic everyone is right now. We've never had significant multiday period corrections this year, I have no idea what's going on. The market's trying to price in the golden age of America it seems.

>>2252619
>I have no idea what's going on.

That one statement gives you credibility with me. I've been sitting on a pile of cash for months waiting for a correction. I'm starting to feel foolish about it.

>>2252659
That sucks man, the market just wants to rally on every bit of non-negative news, and negative news is a buying opportunity. So either way it makes it harder for people who want to enter at more sensible prices.

>>2252572
>the market still hasn't recovered from the 2008 crash.

That's provably wrong though.

>>2252717

The cash position is a small part of a bigger picture, so I can live with it for a while longer. I admit, I am left scratching my head right now, though. The U.S. has elected a boob for a president and I can't really tell that the markets fundamentally give a shit. It seems like good news, but I'm worried. I've been watching markets since, well, the 70's. Not as a pro, just an investor.

>>2252862
The reason why the rally started after he was elected was because of his tax plans for businesses and his infrastructure spending. All of which I like, and was reasonable to price in to an extent. Momentum was gained when Macron won the first round of the French elections. There's also huge optimism about the future of tech, so stocks in the Nasdaq have been doing well. The most recent rally we're seeing now is because US employment data beat forecasts. I don't hate or like Trump, but how can anyone be THAT good for an economy that things have to be priced in to this level?

>>2252572
> for instance, the American market can reverse in its bullish trend any moment that America chooses to go to war again, and also mentioned that the market still hasn't recovered from the 2008 crash.

Ok, your friend is confirmed idiot. Don't take his advice anymore.