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yup. I remember when RBS was yielding 6%, people were saying it was free money. I bought some at the time. Eventually cashed out about 10 years later with around 75% loss.
Ok, I had other shares that didn't do quite so bad, but falling tide tends to have the same effect as rising tide. We just haven't had one for a while...
ChasnotRobert
I’m old enough to remember the last slew of free or cheap trading apps, just before the crash of ‘08. I put a few grand in and lost about 10% in a year. This was before the crash itself. I remember wanting to put most of it in Apple but at the time you had to complete a ton of actual paperwork to invest in a US stock and I couldn’t be bothered. The ads for Selftrade on US TV had the strapline, “he’s got money out the wazoo!” We know how that all turned out. People were saying, “If I can make money off trading stocks anyone can!” Compare “if it can happen to me it can happen to anyone.” Luck: good or bad.