| ▲ | one33seven a day ago |
| oh those poor rich people that lost a bet, I feel so sad for them :( |
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| ▲ | drumhead a day ago | parent | next [-] |
| Small retail investors comprise 66% of the market in SK. It's usually single unmarried people who make ridiculously big bets to try and get enough money to buy a house or get married. It's something to be pitied not hated. |
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| ▲ | one33seven a day ago | parent [-] | | Okay yeah that's very sad. People being tricked / kind of forced to bet money they can't afford to lose is very shitty. |
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| ▲ | duttish a day ago | parent | prev | next [-] |
| From my very shallow understanding of the Korean market it's common to invest in high risk shares because a big win is the only way to afford a nice home. Financial nihilism, risk appetite etc. So it's far from only rich people. |
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| ▲ | bigfishrunning a day ago | parent | next [-] | | But if an investment doesn't pan out, and your response is "My life's screwed", you couldn't afford the investment either. "high risk" is right in the name -- the win isn't guaranteed. If you are in the unfortunate position of not being able to afford a nice home, live somewhere less nice and try to build savings so that some day your children can afford a nice home. | | |
| ▲ | duttish a day ago | parent | next [-] | | Now I'm on very thin ice and just based on youtube videos so if someone from South Korea reads this feel free to correct me. As I understand it the order of things for men* in SK is 1) housing 2) marriage 3) children No housing means no wife means no children to afford a nicer home. So, they're incentivised to take big risks. But I'm going to step out of this minefield now with the hope of someone who actually knows things providing some information. It just seemed like the original comment didn't give enough weight to context. *Women in SK are as I understand it fighting a whole other battle. | | |
| ▲ | lotsofpulp 21 hours ago | parent [-] | | That seems the same as anywhere else in the world where women have the option to be independent. It even applies for many other species. |
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| ▲ | Archio a day ago | parent | prev [-] | | >But if you get caught stealing bread, and your response is "My life's screwed", you couldn't afford the risk either. >If you are in the unfortunate position of not being able to afford bread, eat something less expensive and try to build savings so that some day your children can afford bread. See how this works when you conveniently dismiss the effects of severe structural problems in society as evidence of poor financial literacy? | | |
| ▲ | bigfishrunning a day ago | parent [-] | | I recognize that there's something I'm severely misunderstanding here. In order to "win big" in the stock market, you generally need to invest big -- i would assume people investing big in the stock market aren't literally homeless; they likely rent some kind of room or apartment. Equivocating it to "stealing bread" seems a little extreme. If the supply/demand curve of housing is so extremely upside-down that the only way to get ahead of it is gambling, then maybe they shouldn't be increasing the population -- at the risk of sounding a bit heartless, it seems to me like the only real choice is to leave; a peninsula that's locked from the mainland by an enemy like north Korea means that resources must be too scarce for their population. |
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| ▲ | rstuart4133 16 hours ago | parent | prev [-] | | > invest in high risk shares because a big win is the only way to afford a nice home. Here I was thinking The Squid Game was a work of fiction. |
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| ▲ | pixel_popping 21 hours ago | parent | prev | next [-] |
| It's all relative, you seem to think that rich people can't get "as depressed" as poor people but you are genuinely wrong, rich people also commit suicide, money isn't everything and for the most part, people have worked quite hard and smartly to become rich, such a basic take. PS (ready for the downvotes): A ton of people are not wealthy by choice as well, I don't want to over generalize because this isn't true for all, but a LOT could master a new topic every month by just stopping Instagram for 1 hour a day and instead use that time to study and make money, so what, if they start in the direction of building wealth, suddenly they are assholes? |
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| ▲ | Craighead a day ago | parent | prev [-] |
| These aren't rich people, this movement is almost entirely fueled by young people. Educate yourself more before thinking this is reddit. |
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| ▲ | bigfishrunning a day ago | parent [-] | | Young people who can't afford the risk, and don't bother to understand that fact. | | |
| ▲ | one33seven a day ago | parent [-] | | Well apparently they don't really have a choice and with this context it's less funny | | |
| ▲ | marcusverus 21 hours ago | parent | next [-] | | > Well apparently they don't really have a choice The notion that poor circumstances somehow justify poor choices is extremely counterproductive, as the context of this thread should make abundantly clear. | | |
| ▲ | one33seven 6 hours ago | parent [-] | | Just saying rich people betting and losing is much more funny than poor people making bad financial decision in the hope of maybe living a better life. |
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| ▲ | mbmbn 21 hours ago | parent | prev [-] | | > they don’t really have a choice This kind of discourse is so intellectually poor… | | |
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