Comment by crinkly
1 day ago
That’s idiotic really. I mean I’m not sure why you’d go to a European bank for investment advice other than “bank do money, ug”. There’s a whole advisory market out there which gives you better options based on your attitude to risk profile and goals. Not the usual put it all in a TSLA/NVDA/MSFT ETF and to the moon shit.
I made more out of the tech market in the last 5 years than I would have in it by having sensible advice and a half decent financial model.
I agree with you that tech stocks are overvalued. However, there is no free cake that I can think of. You can invest in bonds but in the short to medium term they under perform compared to equities by a lot. And most industries have their own risk profiles that if anything are more tangible than the notion that someday, the tech bubble will pop.
The older generations (Boomers, Gen X) who have most of the money still invest through well known banks and often get advise from the local branch. Their money will either disappear one day or stay there until their death.
Looks like we found our bag holders.
Gen X here btw. Some of my age-peers have low financial sense so that figures.
My guess is as older generations die out and their children (traumatized by 2008) inherit their money, we are gonna see the most incredible migration away from the financial institutions we know.
It has already started. I am sure most gen Z who inherited something from their grand parents who passed away in the last 5 years, invested some in crypto (after putting a roof over their head hopefully). It is visceral for that generation, for better or worst they do not understand or trust our current financial system.
So now it is just a race between the boomers dying out and the collapse.