The twelve signs of the zodiac within the zodiac circle.
Sarayu Tanila | The Moment | Getty Images
How much should you invest in certain stocks when Mercury is retrograde?
That’s the daily assessment of Stefaniya Nova, 25, who claims to have made $31,000 in profits over the past three to four months using astrology to pick stocks. (this Stocks overall get off to a strong start in 2024.)
About 62% of Generation Z Survey conducted by Harris Poll 2024 says they believe in astrology. this Global Astrology Industry This number is expected to grow 78% from 2021 to $22.8 billion by 2031, according to a report from Allied Market Research.
Nova, whose TikTok account is @blonderichwitch, is one of many astrologers Who is Brought to TikTok Give suggestion where to store money and How to create more wealth Based on birth chart and other astrology signs.
Every morning, she scans the market for stocks she plans to trade that day. She then pulls out a tarot card to guide her strategy, keeping in mind the positions of the stars.
Nova says the process has helped her make more than $30,000 in a few months since she quit her job as a tarot card reader to become a day trader.
“I don’t rely too much on the news. It creates noise in my head… I look at the stocks. I try to see what my gut is telling me: What do I expect to happen? I rely more on myself,” she added.
That said, drawbacks and dangers abound.
While using astrology to invest may have worked for Nova so far, it may not be in your interest to follow suit, especially in a time of proliferation of “experts” Providing financial advice on TikTok and YouTube.
Although you may find advice on: Like, using lunar cycles to gauge when to buy Bitcoinit’s best not to be swayed by it.
Take Dr. Racso, a 24-year-old astrologer. It is said that he lost According to his astrological analysis, he made $440,000 after the transaction and was in debt, According to video interviews released this year. Lakoso, real name is Min Kant Thawdid not respond to CNBC’s request for comment.
I watch stocks. I try to see what my gut is telling me: What do I expect to happen?
Stefania Nova
25 year old day trader
Asking celebrities for stock advice ‘not the best option’
More than 70% of Generation Z (those born between 1997 and 2012) live in the United States Invest in stocks to make them their preferred investment assetso it becomes even more important to adopt a reasonable investment strategy.
Natasha Knox, founder of Alaphia Financial Wellness, says relying on astrology to make financial decisions is “neither optimal nor ideal.”
“There are other avenues of self-awareness for which the evidence of their effectiveness is (more) solid,” the financial behavior expert told CNBC.
Often, there may be confirmation bias, or the tendency to adopt new evidence to confirm one’s existing theories or beliefs. Luck often comes into play as well.
Even if fortune telling doesn’t work, if enough people try it, some people will get impressive results just by pure chance.
Huang Bingxian
Associate Professor, Nanyang Technological University
Byoung-Hyoun Hwang, associate professor of finance at Nanyang Technological University, said: “If thousands of people flip a coin, some of them will definitely achieve the ‘impressive’ feat of getting heads 20 times in a row.”
He warned against relying on it to make investment decisions. “I haven’t seen any conclusive evidence that fortune telling can reliably predict the future, let alone a company’s future performance,” he said.
Nova is dismissive of those who disagree: “Everyone will find their own way (and) it’s all about finding what works for you.”
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