I am accepting this challenge from @katerinaramm to share the worst investment I ever made.
Now I'm not going to lie; STEEM was dollars and cents a pretty bad investment, in that after a couple years posting I have less dollar value than I originally invested. I however would not classify it as a shitty investment, because I've enjoyed the experience here (now on HIVE) and relationships I've built. If I look at the payback as more than just fiat exchange value, it has been well worth it.
I've had a lot of good investments over the years, but the consistent loser for me is always the US stock market.
I like to tell people that if they want to make a fortune in the stock market they should just ask for my advice then do the opposite.
I'm really that consistent!
I started buying stocks just a couple months before the crash of 2000. I invested heavily into funds from a company called Janus. Anyone remember them? They were later found out to be the biggest risk takers, and therefore the biggest losers in the crash.
I did have one good fund that proceeded to do well in the coming years, but after Janus crashed I decided to sell that one too, so I wasn't there for the rise.
The next time I decided to buy stocks was around 2012. The market was depressed and I simply bought a balanced fund, 60% total stock market and 40% total bond market. Had I just left it at that I would have done fine. Instead I kept trading between different funds and missed most of the increase. Then in early 2017 I cashed out completely. If you've paid any attention you know that between late 2017 and early 2020 there was quite a run-up in the market. I of course missed it.
But honestly my worst stock investments have been the ones I didn't make! The tips I didn't follow.
I was told about Dell back in 1990. It was a stunning investment. But I didn't buy it.
I started trying to mine Bitcoin in December 2009. Not only did I give up once I learned I needed to get a desktop computer to do it successfully, but I then paid no attention to the space for many years, even though I should have just asked one of the folks in the message room I was in getting help setting it up to simply sell some to me!
I like to think I've turned a corner on my bad inner compass when it comes to investing. I've utterly crossed the stock market off my list of things to be involved with, but I've done well in other investments. I anticipate crypto also being a very good place to focus my financial intentions.
Thanks for visiting!
Did you have a shitty investment you would like to share with us?
Check out the very first post by @trumpman :)
These are the rules you need to keep in mind
You have to share at least one shitty investment you have made in your life. One per post. There is no limit, share as many as you like. The more you share, the more we will laugh at your expense. WIN - WIN.
An investment can be anything. Yeah, usually we think of stocks or crypto or financial products when thinking of investments. But we make investments, small or big, almost everyday. For example, it can be something like an expensive gym equipment you bought to get fit but never used ;)
Since this is a financial related challenge, please use https://leofinance.io to publish your post(s). Remember, this will help you get more HIVE and LEO votes. Who doesn't want more free money?
Nominate up to 3 people to participate in every of your posts
If you are a social outcast with no friends to invite you, just join the fun without an invitation
Use the tag "#shittyinvestments" as one of your tags for easy exposure!
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I nominate @newageinv @josediccus and @stellabelle.
Posted Using LeoFinance
I remember Janus
Posted Using LeoFinance
I guess we're dating ourselves!
That's very impressive you got into mining btc so early! Can't say I've ever heard of Janus though!
I would have been impressive had I realized how important it was to follow through! Since I didn't, just random chance I even knew of it back then. Was looking for something to write a proposal for a prospective client related to web services for their finance department, and stumbled across it, thought it cool, so decided to give it a try. Everyone was so supportive of my getting set up, so that encouraged me to keep going, right up to realizing I needed to buy another computer when my laptop was only a few months old and I was in the first year of starting a new business and short on cash. I would have really gotten the importance in a much deeper way than I did to make the necessary sacrifices. No worries though. I like the developmental path I took, and am retired young now anyway, so no harm no foul.
Wow, that's an impressive journey you took. It's funny how it all works out in the end! I'm aiming to retire early myself but probably won't be as successful as you!
I guess that gives you time to learn a lot more now too!
Thanks so much for accepting :) I had a similar experience with bitcoin .. I knew it was a big deal back then, right at the beginning. However I was working tooooo much and could not devote time at the moment to read more about it and to start mining or digging for info (at least)
Regarding stocks and trading in general, I think I would have to devote loads of time to learn how to do it properly. So much time, that I would probably miss the train to gain profit :)
How funny we both had that same pattern with btc early days!
On stocks, I also think there is that the markets are so manipulated and irrational for a long time now. It seems more like a game of luck for anyone but people with insider knowledge at this point.
oh my god, i have a story for this! thanks for mentioning me!!!!!
I can't wait to read it!
i am not sure i want to share quite yet!
I did it!!!! https://peakd.com/hive-126009/@stellabelle/my-most-shitty-investment-ever-ke-xu-s-ono
Well your post entirely followed a different twist entirely. I haven't heard about Janus but then it will have been really bad to see them go under had it been in invested in it as well.
However I'll agree with you that not really getting to mine bitcoin was a bust and Dell too? I'd have been pretty sad too but then, it's life we only learn things that might not be applicable after the mistakes have been made. I'll actually dive in this one and participate too
@tipu curate
Upvoted 👌 (Mana: 7/21)