After Losses, Retail Investors Flock to 3x Leverage as 2x Product Are Restricted

For a second, it appeared some found out.https://www.reutersconnect.com/item/south-korean-retail-inve...But it seems there's still a lot in their FA phase in the FAFO cycle.

The story we were telling young people that if they apply themselves, go to school and get a job they'll be able to afford family, house, vacations is moving further and further away for more and more people.The turn towards financial nihilism will continue. reply: Yeah, but it’s also plain greed, and it’d be hard to tell the ratio.

"Smart men go broke three ways: liquor, ladies, and leverage." -- Charlie Munger(Which is not to imply that these are smart men).

It’s just gambling, not investing. reply: Not the first time, not the last either. https://www.pbs.org/wgbh/pages/frontline/creditcards/themes/... https://www.bis.org/publ/bppdf/bispap46k.pdf South Korean gamblers are the index species of any global credit bubble.

Are other countries like the West where 'markets' (equities, derivatives, prediction) have a wide ranging pervasive effect on culture? reply: Around the Evergrande collapse there were stories about Chinese retail investors who had pushed money into their domestic real estate industry’s stocks.Also you might painting too wide a brush with “the West”. I wouldn’t assume that Americans and, say, Austrians have similar exposure to public markets.