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teodroseIII
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Joined: 01 Aug 2015, 23:26

The Great Regret: Only Fool$ Hold the Line When Robber Barons Intentionally Let the Market Bears Out

Post by teodroseIII » 21 Sep 2021, 05:15

I woke up right when an analyst on Bloomberg News said, “Bitcoin very well might be a source of shelter unless there is a jolt and people are forced to sell their crypto holdings to cover their positions”. Even though the only time mainstream media get close to facts is to give it the JFK treatment, once in a while they actually utter actual truths.

Let me bring out my inner Sophia from Golden Girls to convey this DIRE warning to all shareholders and especially crypto owners. Picture it, Alexandria, Virginia 1999. I was fresh out of college and got my first job at Sprint Government Systems Division as an ISDN BRI tester. I was making $35,000 a year and I thought I hit a goldmine. That was the same year the dot-com “revolution” was transforming the world and making investors rich.

Hearing story after story of people becoming wealthy because they put their money in stocks, I decided to invest 20% of my paycheck into Sprint’s Employee Stock Purchasing Plan. That same year, Sprint decided to spinoff their wireless sector as a separate tracker called PCS. I allocated 100% of my investments into PCS because that is where most of the growth was taking place.

For over a year, I did the macarena each time I opened my account and saw how much money I accumulated. Still wet behind the ears, I was stacking up more cheddar than Sargento. Sprint was matching each dollar their employees invested so 20% investment was more like 40% investment. By April of 2000, I had over $70,000 in my account. Instead of playing it safe and redirecting some of the massive profits into safe havens like T-bills, utilities or cashing out, I doubled down by opening a Schwabb account and invested even more money.

BOOM! All of a sudden, the dot-com revolution became a dot-gone dissolution as Wall Street went from irrational exuberance to a stampede to the exit doors. On April 14th, 2000, the Nasdaq Composite index fell 9% and ended the week down 25%. Fear set in and ...continued...

READ FULL ARTICLE AT: https://ghionjournal.com/dc-911-black-s ... n-sparrow/