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