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by on June 21, 2020
There are a lot of financial channels on YT and Pride had some spare money. He got suckered into falling for the investment hype and bought silver and stocks
It was a mistake
He estimates he dropped about $2,000 on this stuff and now they're worth $1,490.26
Investor channels like to hype up assets = do nothing + time = gradual profit
Holy shit, these people exclude 1 major cost of investing; taxes! When Pride bought silver, taxes were huge. If Pride pulls cash out of his stock account, taxes will happen
Running a financial channel is running a business. Their job is suckering people into watching their videos to get that ad rev
"If you're in a room and you don't know who the sucker is, you're the sucker" -Tai Lopez
That boy was right
So right, he told subtly told all his customers they were suckers
And they didn't detect that
Tai Lopez didn't scam Pride. Other scammers scammed him. Pride's just being clear
Another cost of silver is how to get money from it. Silver can be sold to pawn shops, but they'll never pay full spot price. Running a pawn shop is a business and the point of a business is to make profit. They want to buy precious metals below spot price and sell them at a higher price than what they paid for. It's the same game precious metal investors want to play
Stock values change daily and good luck predicting the future. It's absurdly harder than you can imagine. Hindsight over the last 20+ makes things look obvious. Try predicting the next 20 years and tell everyone how right you were then
Pride is cutting his losses and keeping what he has. Maybe they'll get significantly more valuable later. Besides, why lose the Razer/esports investor status?
Saving money is extremely easier than investing. There are no huge tax traps and no 1 else trying to underpay you to make their own profits
Don't trust a sucker for financial advice
Pride's just saying he jumped in with few strategies, lost 25% value, and he still had fun with real world experience
and  liked this
Ephemeria Spring
thank god it's about this fictional Pride guy otherwise it'd suck!