(posted this comment somewhere else too)
(Paper) money is practically actually valuable because you need it to pay taxes. Gold, diamonds etc you could do without. Of course there is more nuance but taxes force people to value currency and therefore also accept it from others (because you need some of it or you go to jail), which gives currency the circular value.
(Paper) money is practically actually valuable because you need it to pay taxes. Gold, diamonds etc you could do without. Of course there is more nuance but taxes force people to value currency and therefore also accept it from others (because you need some of it or you go to jail), which gives currency the circular value.
Good point. Now it does make sense. I know the secret to the perpetual motion machine now.
Okay so individual stocks then. But the advice is for index funds I think. But good on you if it works. I wouldn't try to predict individual stocks personally, too much stress and probably won't do it better than randomly guessing.
Why do you look at your investments? What do you do with the information? I don't want to predict the market and I can't. Looking at it is more likely to make you panic buy/sell than make you do anything useful. But I'm curious why you don't agree with the advice.
It's a lot more backed by the faith that if you don't manage to get some you go to jail.