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Oh no, I was a billionaire now I'm slumming it with 700 million....
More common: I am 65 years old and my retirement just imploded.
Eh they can't let it get that bad or else they know humanity will truly embrace socialism and vote to strip mine the wealthy of their assets.
Why do you think folks like Peter Thiel and Larry Ellison are pushing "law enforcement" and mass surveillance so hard?
At least some of them believe they can credibly secure themselves against the masses easier than they can appease the masses.
I've been re-allocating my 401(K) investments for a few months now to try and soften the blow when it hits, but I'm not sure how far-reaching this will be.
I did the same thing. I moved to investments in the raw materials used to make the chips. I wanted to keep some AI related investments for the rise of the bubble so I moved my money out of microsoft, alphabet, amazon and nvidia and put it into Taiwan semiconductor manufacturing and Samsung electronics. The components will be already paid for while the software side of things implodes. At the beginning of Q4 I plan to move the profit and 50% of my base investment from component manufacturing into bonds so I can retain some of that value.
The AI bubble is going to fuck up the economy again. I had a ROI of 29% which seems insane. So many people are going to lose funds from their 401Ks when the bubble pops. Most people that have 401K through their jobs just let the entity managing the funds make the investments for them into something like retirement trusts/target date funds. Depending on the target date, most of what they are investing in is domestic funds where alphabet, amazon, meta are like the top stocks.
I urge everyone to read the prospectus documents attached to the trusts/target date funds you are investing in to see if you are in danger based on the top 10 stocks associated with your investment product.
Yeah, unfortunately my options for how to allocate investments are limited by our plan provider. I've been taking them out of any funds that focus on US tech stocks and opting for international.