Generation Z is investing their money by relying on tarot and astrology and wants to be very successful with it. TikTokers show how much money they can earn with it. However, experts warn against such tricks.
Those who want to invest or allocate money take their time and ask market experts for advice. However, many young people seem to be taking a different approach: They consult the stars and the sky. And supposedly, this works surprisingly well.
Generation Z includes people born between 1997 and 2012.
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TikTokers show how much money they earn when they rely on astrology
What are people doing? The English-language magazine Fortune.com reports on several personalities from Generation Z who are relying on astrology and tarot to invest money.
For instance, Stefaniya Nova is a 25-year-old New Yorker and TikToker who uses astrology, tarot, and intuition
to guide her day trading. She shares:
After scanning the market from 8:30 to 9:00 AM and selecting the stock I will trade that day – today it was Amazon – I draw a single card to confirm my decision or receive guidance. Today, I drew the Ace of Cups, which represents abundance; this gave me the confidence I needed to trust my strategy.
Supposedly, this all works because the TikToker backs up her bets with numbers:
- She posts a screenshot that she made a profit of $300 that day.
- In another video, she posts a screenshot of her monthly earnings of nearly $6,000.
And she is not the only one promoting lunar cycles for buying Bitcoin and astrology for making $440,000 in cryptocurrency trading. This seems to be what excites Generation Z right now. However, not everyone is convinced. And independently, the numbers cannot be verified at first.
Expert says: People have always relied on luck and chance
Expert warns: Samuel Hartzmark, a professor of Behavioral Finance at the Carroll School of Management at Boston College, explained that one should be cautious particularly when wanting to invest money in the financial markets:
You should not make decisions in financial markets based on perceptions. If these things really predicted higher returns, there would be many market participants who would likely use them as signals in their portfolio.
He refers to a study from 2004 conducted by researchers from the Graduate School of Management at the University of California, Davis, and National Chengchi University in Taipei, Taiwan. This study found that out of 130,000 individual investors, over 80% lost money with this practice.
Since the probability of success in day trading is already so low, one cannot attribute success solely to sophisticated investment strategies, Hartzmark says. Part of the success is bound to be due to luck and circumstances. For the few who become rich through unconventional strategies, it is easy to attribute their wealth to that. This is a phenomenon that has existed for hundreds of years.
Generation Z is the generation that invests the most in the financial market
Why are young people investing in the financial market at all? The most commonly cited reason is financial insecurity. Many young people are afraid that their future is uncertain or that they might end up in serious financial trouble.
Driven by a fear of missing out, according to Nasdaq, over 70% of Generation Z own stocks: more than previous generations at the same life stage. With various apps, Generation Z also has the opportunity to invest affordably and conveniently, which leads them to trade earlier than older generations.
More about Gen Z: Among young people of Generation Z, a trend seems particularly popular: job ghosting. Survey data from a platform that interviewed candidates and companies show that 78% of all candidates allegedly ignored the employer intentionally: There is a popular trend among Gen Z: They don’t show up for job interviews
