AWM Insights #17: Gambling or Investing – Which Game Are You Playing?

Over the last couple weeks, we've seen the return with a vengeance of volatility in the markets with some of the biggest highs and lows in history all within a short time span. With these swings, we're starting to see non-investor voices give investing advice that really boils down to gambling.  The message from these media personalities is loud and clear: now is the time for people to become active investors. 

Is there room for this type of investing? The answer revolves around your current situation and your long-term goals. In this episode, Erik & Brandon give some helpful thoughts on how to view this concept and address topics and questions including:

Why Shaq’s free throw record relates to investingThe myth of entertainment-based tradingShould we pay attention to what the media is telling us? How much credence should we give to news sites advice on the investment decisions we should be making?Day trading vs long-term investingHow the active investing we're seeing in mainstream conversations is similar to sports gamblingHow do we most effectively grow our wealth over the long-term?How do you stay disciplined over the long term and not fall for the get rich quick gimmicks?