Guest contributor: John M. Neumann, CFP, ChFC, CLU, CRPC, is an annuity wholesaler at Crump Life Insurance Services.
The meme culture has produced a new class of investors and some important lessons for financial advisors and their clients. The Reddit crowd is seemingly unfazed by extreme volatility in stocks like GameStop or AMC because of a cherished talent they call “Diamond Hands.”
Diamond Hands is the ability to stomach all of the risk, losses and drama surrounding their equity position in an effort to get to an end goal. Most investors, however, don’t subscribe to the you only live once (YOLO) lifestyle. More>>