WSJ Article reaction - "I Was a Broke Millennial. I Tried to Trade My Way to Financial Freedom."

I just finished an article by Alexander Hurst from the WSJ.

It strikes a pattern I've been seeing a ton of, and one that Flank is fighting against.

The pattern goes like this:

A person says, "I should really learn how to invest"....
Instead of learning how businesses actually work,
they fall into the quagmire of day-trading nonsense, lose money, get burnt out and give up.

We need to break this cycle.

That's at least partially of what happened to Alexander Hurst. He wrote a book on the whole thing + the WSJ covered an excerpt from it.

According to himself, he had made a million dollars trading stocks... and then lost a million dollars.

He was working abroad in France as a digital nomad. He had dabbled in investing a little bit before finding WallStBets

We all know where this is going.

He then moved onto options. Yikes.

The rest is history from there

So what do we do instead?

If you're reading this, then you probably know.

Don't treat investing as a way to get rich quick. It WILL backfire.

There is only one way to invest. The slow way.

Do deep research on companies in your circle of competence. Constantly work on your skills are an investor. This type of investing works for two major reasons:

You can earn strong financial returns by identifying great businesses at fair prices
You develop a skill that compounds over a lifetime and will make you better at business