Guys/Gals it’s posted in the meme community, clearly this did not happen. The joke is funnier in the first person.

  • krellor@kbin.social
    link
    fedilink
    arrow-up
    44
    ·
    11 months ago

    Yes, times a thousand. But I would go even further.

    Never give investment advice. You might explain what investments you have made and why you made them, but never give advice and never urge or prompt someone to invest. You should also end every conversation with “but that’s not advice and I’m not an expert.” It is too easy for either the investment to not work out, or for them to do it wrong (wrong timing, panic sale, misunderstood the options, etc).

    The last thing you want on your conscience is someone investing a life changing amount of money just for it to go down in flames. I might invest $1000 in something that I think might pay off, tell someone they should invest, and next thing you know they drop in $40k and panic sell on a dip in two weeks, when I was planning to hold for five years. You never know.

    • Snot Flickerman@lemmy.blahaj.zone
      link
      fedilink
      English
      arrow-up
      22
      ·
      edit-2
      11 months ago

      Honestly, this kind of goes for everything that’s more complicated than average people can understand. (By “average” I mean “anyone not familiar with this particular knowledge.” I have in depth IT knowledge but very weak automobile maintenance knowledge, for example. This makes me “average” when it comes to automobile maintenance.)

      I don’t give out IT advice for the most part, because the number of people who will come hounding you because they misunderstood, did something wrong, or missed several steps, is too damn high. Doesn’t matter that they made the choice to take initiative to do it on their own, now it’s your fault for suggesting it when their PC blows up in their face.

      • krellor@kbin.social
        link
        fedilink
        arrow-up
        12
        ·
        11 months ago

        That’s a great generalization! Don’t give lay people knowledge they can use to harm themselves, and recognize when you are the lay person.

    • Jorgelino@lemmy.ml
      link
      fedilink
      arrow-up
      2
      ·
      11 months ago

      You should also end every conversation with “but that’s not advice and I’m not an expert.”

      “But son, aren’t you a literal investment advisor?”