It has been a brutal year for investors
, as aggressive rate hikes by global central banks caused investors to dump both stocks and bonds. That said, over the long term, it’s awfully difficult when to get in and out of markets. Researchers at Vanguard summed it up: “From 1928 through 2021, there were more than 23,300 trading days in the U.S. stock market. Out of those, the 30 best trading days accounted for almost half of the market’s return.
Being out of the market at the wrong time is costly. And many of those best trading days were clustered closely with the worst days in the market, making precise timing nearly impossible.”The more you read about Sam Bankman-Fried , the CEO of the now bankrupt cryptocurrency exchange FTX, the more he looks like an old-fashioned scammer, like Bernie Madoff or P.T. Barnum.
The disheveled huckster now faces criminal and civil charges from the Department of Justice, the Securities and Exchange Commission, and the Commodity Futures Trading Commission. SBF attracted some of the most influential Silicon Valley venture capital, but new and complicated technologies, delivered by a “wizard” can lure even seasoned investors.
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