A few weeks ago, the world went berserk due to a popular uprising. The little guy was fighting back against entrenched powers and even managed to temporarily stun and overwhelm the oligarchic forces that so often swamp their proletarian dreams.
Yes, I’m referring to the meteoric rise of US video game retailer GameStop and the battle between Reddit sub-group WallStreetBets and giant hedge funds with billions of dollars at their disposal.
If you were living under a rock the past few weeks, I’ll give a very quick summary, but there are plenty of great sources that break this down in far more detail than me because this article isn’t really about GameStop or Reddit.
A group of people on the internet noticed that big hedge funds were betting the price of GameStop would go down and a lot of them decided to buy the stock. Due to complicated stock market mechanisms, the price skyrocketed. A stock that started at $4 a share ended up peaking at $396.51 per share.
The investing world went haywire. Online stock trading platforms such as Robinhood stopped allowing people to buy or sell GameStop shares, government agencies got involved and the internet was on fire. A new term was added to the cultural lexicon: meme stock (which experience rapid price growth because they are hyped on the internet).
This was where I got involved. No matter how much I preach about the benefits of low-cost index fund investing and the benefits of this strategy for my finances, I’m still human. When I see people making money very quickly, I get the fear of missing out. This is despite knowing that individual stock picking is a very risky strategy unlikely to work for many people.
One of my friends, who follows WallStreetBets, sent me a message saying the next shorted stock to focus on was AMC, an American movie theatre company. He was putting $20,000 into the stock at market opening and told me to get in on the action.
I got excited but fortunately not to the tune of $20,000. Instead, I invested $1,000 as soon as the market opened and bought shares at $17.90 each. It was at this point that the stock price started dropping. By the end of the week, the stock was down to around $5 a share and most of my investment value had disappeared.
When I see people making money very quickly, I get the fear of missing out
Fortunately, the loss wasn’t financially crippling. It was, instead, a lesson in the danger of adopting a “Fomo” strategy and the power of the “reversion to the mean” phenomenon.
The main idea behind reversion to the mean phenomenon is that over a long timeline, the vast majority of investors in individual stocks will at best only get the same return as the overall market.
In 2008, Warren Buffett placed a $1 million bet with the most successful hedge fund managers that over a 10-year timeframe, they wouldn’t be able to beat the average market returns. He won.
This is why low-cost index fund investing is so powerful. You end up getting better returns and it’s a lot easier. You don’t have to pay attention to financial news, worry about timing the market or obsess when a stock price has hit top or bottom. You just buy low-cost index funds that cover a lot of the stock market and continue investing, no matter what. It’s simple and it works.
Don’t let “Fomo” or meme stocks get you overly excited. Instead, choose the simple, boring path when it comes to your investments. It will save you time and energy –not to mention keeping your stress levels down.
Schoolteacher Zach Holz (@HappiestTeach) documents his journey towards financial independence on his personal finance blog The Happiest Teacher
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
SM Town Live is on Friday, April 6 at Autism Rocks Arena, Dubai. Tickets are Dh375 at www.platinumlist.net
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THE SPECS
2020 Toyota Corolla Hybrid LE
Engine: 1.8 litre combined with 16-volt electric motors
Transmission: Automatic with manual shifting mode
Power: 121hp
Torque: 142Nm
Price: Dh95,900
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
