I mean, look at this shit. I wouldn't buy any of these companies right now, though I think Apple, Microsoft, Broadcom, Google, and Netflix, will be OK even when AI crashes. They have real businesses that make money, AI is just a side quest for them. They'll fall, but not crash.
But, Nvidia? Tesla? Huge exposure to AI and no way to justify their valuations if absolutely absurd SciFi things don't come to pass.
@az I mean, that's kind of why I buy index funds and forget about it. Over a long enough period the stock market as a whole has always returned better than you'd get from an interest-bearing savings account, CD, or savings bond. So, indexes are, given a large enough window of time, always the smart and safe investment.
But, sometimes, the market goes fucking insane. It did it in 2008. And, I'm pretty confident it's doing it again now, and I think the end is nigh.
Another "too early" one, recently: I sold ARM at $133. I made a good profit, but too soon, I could have made more. But, I didn't believe in the AI story, and still don't, so I sold in February of 2024, just a few months after I bought it (and paid for short-term gains on my taxes!).
I almost sold everything tech back then because of lack of faith in the fairy story investors and tech leaders are telling themselves and the public to keep the money machine printing. But, I told myself: Too soon.
I am mostly a "buy index funds and forget about it forever" investor. I'm good at picking stocks, at least within my areas of expertise, and I'm OK at knowing when to sell (again, often too early). But, I don't find joy in it, so I don't want to think about investment all the time. So, indexes it is. This has done OK for me. I've made decent money on my retirement account over the handful of years I've had enough money to spare to invest in a retirement account.
I was cleaning up today and sent my NES crashing to the floor. I know they're sturdy and all, but it's 40 years old, and I was worried. I quickly set up the TV in the office and played through "The Great Gatsby" (it only takes 10 minutes, sadly) to make sure everything was still working properly.Usually the Nintendo is set up outside; this may be the first time the cat has ever seen it running. He was perplexed.#NES #Retrogaming #CatsOfMastodon #PublicDomain #ShareYourGames #Homebrew
The Three Dead (with a #peacock and a #cat). Psalter and Hours of Bonne de Luxembourg, Jean Le Noir(?), Paris before 1349. NY, Metropolitan Museum of Art, The Cloisters 69.86, fol. 322r.#medieval #MedievalArt