Amidst the ongoing market meltdown, there were some emotional stories shared in the Reddit among investors in the ill-fated terraUSD Stablecoin. Many talked about losing significant amounts – including house down payments and life savings. Some threads speak of folks contemplating suicide.
Reading the thread reminded me of two investing truisms. The first is that everybody looks like a genius in a bull market. When the tide is in, we don’t have to paddle.
And the second is that we can afford to not be great at investing. But it is very costly to be bad at it.
A good reminder to all of us to stay safe out there.