The stock market is gambling. Not only is buying stock gambling, but there’s a huge rake (taxes). Although I know some people play the game and win, I’m convinced the overwhelming majority never make money buying and selling stocks.
Don’t get me wrong, at any one time, I’ve been up big but for every gain, I’ve had much more losses. In recent years, I got bit by reverse stocks or ETFs (exchange traded funds) that bet against the stock market or some index. I kept thinking the stock market would go down (and the numbers say it will one of these days) but it just never did.
The more I placed orders in the stock market, the more I began to realize I was just gambling. It was essentially the same as the roulette wheel in Las Vegas. Yes, I could study reports and read up on the company info, but what happened to the company in the future was nothing I knew about. This is why I was guessing. Unless I had some insider information, I was just hoping that the stock would go up.
That’s not how I like to play my money. I want the odds stacked for me, not against me. And if I am gambling, I at least want to be in Las Vegas having some fun and not in front of my computer at home.
If you do buy stocks, I think you should buy into companies you believe in and use that you feel are undervalued. Sometimes you just have a feel that nobody else does when you have an information advantage.
If you’re considering going into the stock market to make money, I just advise you to buy with caution and only risk what you can afford. I hope you find the next Apple and make lots of money!
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