Day trader army loses all the money it made in meme-stock era
The last few years was a perfect storm of stupidity:<p>- The Fed juicing the market (and not stopping when it should have, dismissing inflation concerns as transitory, etc.)<p>- Covid stimulus going to people who didn&#x27;t need it<p>- People spending that stimulus money to invest (often for the first time) on zero-fee platforms like Robin Hood<p>- Meme stock investors intentionally manipulating stock prices to cause them to diverge from the underlying value of the company<p>Despite all of that, people who bought and held a total market or S&amp;P 500 index fund in 2020 have still made gains.