Comments by "Magic Beans" (@Magic_beans_) on "Coffeezilla" channel.

  1. I won my local stock picking contest one year. I didn’t care, so I dropped my entire portfolio into a single company with whom I share a name. They happened to report good earnings during that timeframe so I made like 20%. People say they wish schools taught about investing, but the trouble is how do you say something teenagers will listen to and remember in ten years? That simulation is probably the best approach:: have everybody manage a faux portfolio and see how many of them go bust YOLOing into biotech.
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  2. Oh yeah, she knew what she was doing. Just kept feeding him rope.
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  3. During a gold rush, the real money is in selling shovels.
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  4. 5:49 Once again, “I haven’t actually made money yet, but I totally will because I have a strategy .”
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  5.  @chaoticcat2564 That’s pretty much how it works: these names are in the news again, so the algorithm pumps the stock.
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  6.  @Bedhead13 It wasn’t a rugpull per se , but Anchor was part of the the Terra-Luna ecosystem, which collapsed almost overnight in mid 2022. So yeah, shocker, the safe 20% yield wasn’t sustainable.
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  7. One, the disparity is even worse. Two, MLMs are nearly zero-sum. At least in a normal exploitive-capitalist arrangement both parties make money, and the disagreement is about how that income should be split.
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  8. I love seeing all the scam comments offering to “help” you recover your stolen coins.
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  9. As Dan Olson (Folding Ideas) puts it, the ideal crypto-scam target is “tenuously middle-class”. They have money to invest but not enough money to feel like conventional investments will build the life they want.
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  10. You could try, but (1) how do you know you’re early? And (2) as Coffee says at 3:18 the gains can be addictive.
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  11. No, in fact he made a video on that exact topic: “Grant Cardone is officially a fake guru.” showing how Cardone’s gone from promoting financial responsibility to flashing his wealth and selling courses.
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  12. 3:30 And I was just in the middle of typing a joke about writing down your door’s seed words.
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  13. That whole voiceover is great. I love the stonerish accent, it gives me the impression that the person we’re trusting to run this show is barely out of high school. It also shows how some of these schemes are self-selecting. The pitch is bad enough that anybody who’s still listening has pre-screened themselves as naive enough or desperate enough to believe anything.
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  14. Yep, and their single biggest campaign in the US is math education, graduation rates, and college preparedness in poor & minority communities.
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  15. Totally, and if you’ve dabbled in the market here and there you’ve probably gained 1% in a day. If someone’s an expert trader they should be able to do that every day, right?
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  16. 8:50 How does Swag think that sounds? I could understand “I don’t watch the clock because I work whenever inspiration and opportunity meet.” But this is “I don’t know what day it is because I’m *always working* .”
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  17. Long as it wasn’t LMND. They’re down 80% since this video.
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  18. What I love about Krohn’s video is that if you’re paying any attention he contradicts himself. He says both that “you can’t save it, you can’t invest it” and that “it’s on the roller coaster of the stock market.”
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  19. Ponzis are great as long as you’re early (which of course they’ll say you are) and you don’t mind knowing that your gains came at someone else’s expense.
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  20. Yes, but that advisor will say something boring like paying off your debts and investing over time. These gurus will tell you how to become a multimillionaire in a year.
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  21. Hadn’t made that ten mill yet.
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  22. Oh yeah, they know you’re suspicious, probably been burned before, so they throw something like that out to reassure you. “This is not a get rich quick scheme. Now here’s how I make $10,000 a month with no investment or skills.”
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  23. 4:41 “There are no ethical billionaires. Also I want to be a billionaire.”
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  24.  @guitardadsinc Also men’s fashion.
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  25. “Because I’m passionate about helping ordinary people achieve financial freedom.”
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  26. Nah, those years he would have said it’s 12-15%. This is a thing, some guy wrote a blog claiming the BLS changed the CPI formula in the 80s (true) specifically to understate the inflation rate (questionable) by a huge margin (false, it’s a fraction of a percent difference). It persists in crypto circles because it tells them something they want to believe.
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  27. Is that how he normally sounds? I’m getting a digital-distortion thing here. I thought Coffee was going to say it’s a deepfake.
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  28. True, there are three essential elements to fraud: 1. They lied about something important 2. You trusted them 3. You were harmed as a result. At this point all Ozy have done is wasted Goldman’s time and tanked their own reputation. What I find ridiculous is that short of outright fraud or something else that makes their name toxic to everything they touch, these people will all fail upward. Even an abject failure of a CEO is more valuable in the market than someone who’s never been a CEO.
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  29. A few minutes later
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  30. Yep, and that’s how a lot of Ponzis get going. The early investors really do make money that they can withdraw and have fun with, so they believe this is the real deal. That encourages them to invest more and to tell all their friends.
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  31. 5:10 Also these people operate in legal grey areas. They’re selling advice and they gave advice, so it’s not quite fraud. They mentioned your results may vary, so they didn’t necessarily lie. It’s just murky enough that until they cross a line or incite a big enough mob, nothing’s going to happen.
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  32. A lot of that starts on TikTok and gets reposted to FB, IG Reels, YT Shorts… Like all spam, the key is how little it costs to produce. Keep the costs low and you don’t need many views to start turning a profit.
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  33. “Every asset creates yield” Yes, even as we speak the souvenir gold nugget on my shelf is spawning more gold.
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  34. Maybe, but I also suspect overconfidence played a role. When someone gets constantly praised as a genius innovator visionary, they might start to think that all their ideas are great and anybody who disagrees is just a hater.
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  35. Okay, but can we start with why we want a system where every transaction is publicly visible?
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  36. 2:50 Yeah, I hired a servant, like anybody would do.
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