For fun and profit

A few weeks ago, I had written about how easy mass adoption of the riskiest kind of trading behaviours is setting up a new generation for catastrophic losses. Even though human behaviour is the same, new kinds of trading platforms are making it easier and easier to do the kind of things that have a high probability of losing a game-quitting amount of money. In connection with investing, the first thing many young people hear about is how easy it is to install an app and start trading and make some money on the side. And the important thing is that it's true under certain circumstances in the equity markets. The cycle of the bull and bear markets you would be familiar with, but this is overlaid on another cycle - that of new investors coming in, experiencing the whole thing and learning something. This would be fine except that the markets attract new investors in the largest numbers in the time when it's the worst time to do so. F