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Exclusive Q&A With Jaime Rogozinski:
What do most people not know about investing that you wish they knew?
Most people that want to take control of their own investments probably know more than they need to know already. What most people are missing is hands-on experience to know what that knowledge feels like when it’s applied. It’s conquering these very feelings (and emotions) that defines success.
What should everyone be doing to build their wealth, no matter how much money they currently have?
Stop trying and just do it. People already know what they have to do but end up maxing out their credit cards anyways.
It’s not the lack of knowledge that’s stopping people.
What should investors be focusing on in 2022 to make the most of their money?
If you’re actually investing, and not gambling like most of us, then you shouldn’t be focused on 2022 or 2023 or even 2030.
What investments should they avoid?
If people are new they should avoid the boring ones — they should focus on high beta stocks, which will take them on a roller coaster ride. [This] helps get their emotions in check, and [they] can move on to the stage where they become rational again. The actual ROI — whether positive or negative — for these “investments” is irrelevant; [it’s] mostly noise.
If they’re experienced, then they shouldn’t be stock-picking and instead, settle for some boring, good old-fashioned index funds with moderate dividends, packed with fancy words like “compounding” and “diversified.”
Rogozinski founded r/wallstreetbets in 2012.
r/wallstreetbets has amassed 9 million-plus members and helped influence GameStop stock as well as AMC stock.