Ramit Sethi breaks down why crypto traders only brag about wins. They hide the altcoins that went to zero, the trading fees, and the losses. A boring index fund would have made you more money with zero stress.
Have you ever felt FOMO from hearing about your stupid high school friend's crazy investment returns? You know, this guy could barely remember to breathe every day, and yet he suddenly bought Bitcoin in 2016 and now he's sitting there telling you, oh, look at me, I got my fucking Lambo. And you're like, I hate my life. How is this possible? I made 200% on this one investment. Crypto's crazy, bro. Or the market's about to crash. You need to move to cash like I did. Now, there's a common misconception that picking that one winning investment is going to solve all of our money problems. And if we are just smart enough, we can predict the future and buy at exactly the perfect time. But if there's one thing I know about the investment world, there's a lot of liars in it. See, when your cousin tells you about how he made $5,000 on some crypto altcoin, he's not going to mention the 10 other coins he bought that went to zero or the thousands of other people who lost everything chasing the same dream. This is classic gambler shit. Gamblers only talk about when they win. They never talk about when they lost. And most of them don't want to add up all the expenses involved in doing these trades and gambling, because if they actually took an honest accounting of how much they've spent and how much they've made, they would realize a lot of them could have made just as much or more by buying a simple index fund and getting on with their life.
