Henry VIII gave his seal of approval 500 years ago to archery, the nation’s favourite pastime of the day. Feeling it was a good way for those with idle time to avoid vice and become ‘healthful and profitable’, he mandated that every household keep enough bows for the adults, children and servants living there and required people to learn how to use them.
A stag hunt in the stock market is when groups of people act together to get the biggest prize , like when a community onThe stag hunt only works if everyone maintains their effort. If some people drop out when they’ve caught a smaller prize, it gets more likely the stag will escape, leaving the whole group empty-handed.
Since last year, Netflix shares are down nearly 75%, BlackBerry’s slumped 63%, while the share price of cryptocurrency trading site Coinbase has plunged 85%. Some who hunted for investing tips on social media will have made a princely sum – but others have lost heavily, leading to a crackdown on financial influencers by City regulator the Financial Conduct Authority.
Meanwhile, the FIRE movement , has created a global community investing for retirement. Influencers in this niche may use Facebook and YouTube, but what they preach is the antithesis of the get-rich-quick stereotype that social media is sometimes unfairly known for.