SPORTS BETTORS FLOCK TO STOCKS IN 2020
In March of 2020, professional sports came to a grinding halt. The Novel Coronavirus was spreading across the globe, and widespread panic ensued. All the major professional leagues suspended play, and world governments announced stay at home orders. Citizens were forced to stay in their houses, kids were home from school, and businesses were forced to shut their doors. As expected the stock market crashed, and the Dow Jones Industrial Average went down more than 10,000 points in a matter of days.
Financial guru Warren Buffett, also known as “The Oracle of Omaha” has famously been quoted as saying: “Be greedy when others are fearful, and be fearful when others are greedy”. Centuries earlier, Baron Rothschild said “The time to buy is when there is blood in the streets.”
With no sports to bet on, sports bettors were scrambling to find somewhere to get their fix. This includes the likes of Barstool Sports founder Dave Portnoy, and Outkick The Coverage founder Clay Travis. Between the two of them, they have millions of followers, and anyone who took their advice and loaded up on recovery stocks has likely seen returns upward of 100% over the last year.
Portnoy hasn’t been shy about his success: “I’m sure Warren Buffett is a great guy but when it comes to stocks he’s washed up. I’m the captain now,” he wrote in June of 2020. It was just a few months later that he lost $700,000 on meme stocks like Gamestop and AMC.
Perhaps getting your investment advice from a group of millennials on a Reddit forum isn’t a very well thought out plan. That’s particularly true when their top stock pick (GME) is a company that is currently trading at 20 x pre-Covid levels, despite a failing business model.
It’s probably a bad idea to blindly follow any advice, without doing your own due diligence and extensively researching each stock you plan to invest in. Contrary to popular belief, watching a handful of videos on Youtube doesn’t really qualify as “extensive research”. That being said, when used correctly Youtube can be a valuable source of information.
OUR FAVORITE YOUTUBE CHANNELS FOR STOCKS:
Best Channel For Canadian Stocks: Brandon Beavis Investing
Brandon is from Vancouver BC, the son of a financial advisor and portfolio manager. He’s been learning the ropes from a young age from his father Mark, who has recently joined the Investing Academy. He focuses on long term investments with a heavy emphasis on the Canadian market. His approach is far more conservative than what your average sports bettors is likely looking for, but he provides quality information and some much needed perspective. Whether you’re an American investor looking for some safer stocks in Canada, or for a Canadian looking for solid investment advice, Brandon and Mark tick all the boxes.
Most Entertaining Channel for Stocks: Meet Kevin
With roughly 1.5 million subscribers, he’s a big player on Youtube. He’s often referred to as “Clickbait Kevin”, and he’s the first to admit that it’s an accurate description. Kevin is all about the clicks, and he chooses his topics accordingly. While he started off with real estate, his focus shifted to stocks during the crash of March 2020. His videos are as entertaining as they are informative, and he often has high profile guests on his live streams. Given the amount of content he puts out each day, you really have to wonder if this guy has time to sleep.
Most Informative Channel for Stocks: ARK Invest
In February of 2020, Yahoo Finance published an article titled: “Cathie Wood, the Best Investor You’ve Never Heard Of”. After her ARK Invest fund almost tripled in value over the past year, nowadays everyone who is buying stocks has probably heard of Cathie Wood. Most of the other Youtubers on our list spend a great deal of time talking about what Cathie is doing, so it only makes sense that you would want to hear it directly from the horse’s mouth.
Best Channel for Technical Analysis, Charts, China Stocks: Felix Finance
Based out of Hong Kong, Felix offers insight into several of the larger China based companies such as Alibaba, NIO, Tencent etc. He isn’t the most entertaining personality to listen to, rambling on in a German accent, focusing on technical analysis, charts, support and resistance lines. For those who have no idea what a Fibonacci retracement is, watching Felix for a while might be a painless way to learn a little about how to read charts.
Best Channel for Day Trading, Swing Trading and Making Money Short Term: Ziptrader
Charlie, the founder of ZipTrader, is passionate about the market. He places an emphasis on day-trading, swing trading, and long term investment strategies. He puts out professional content, gets right to the point, and tells you step by step exactly what to buy, when to buy and when to sell. We would never suggest blindly following one guy on Youtube for stock picks, but if we did … Charlie would be that guy.