[Chaekdam] "Stock Addiction Cure Rate 40%... The Best Blue Chip is 'Confidence'"

'Gurodong Jusik Club' New Release
Psychiatrist Who Accumulated Debt from Stocks
Introducing Stock Addiction Treatment Process in Novel Format

[Asia Economy Reporter Seo Mideum] All kinds of "addictions" in the world alienate people from society. They make normal thinking and living impossible, causing individuals to become isolated and left behind. Typically, behaviors that induce peripheral pleasure become the target, and "stocks" fall into this category as well. Addicts put money in under the pretext of "investment," but in reality, it is no different from a casino slot machine. For them, stocks are merely a game of probability. Despite repeated failures, they go all-in on the possibility of "making up for losses," but most often, they only stop after losing everything. Dr. Park Jongseok, director of Guro Yonsei Bom Mental Health Clinic and an outpatient professor at Yonsei University Severance Hospital's Department of Psychiatry, is one such case. He once indulged in stocks, lost his entire fortune, and barely escaped addiction. Now, based on his experience, he introduces the stock addiction treatment process in the form of a novel. On the 27th, we met Professor Park Jongseok, author of the book Guro-dong Stock Club (Wisdom House).

- You have experience with stock addiction.

▲ In 2015, I went all-in on bio stocks and political theme stocks and lost all the wealth I had accumulated until I was 35. I even went into debt. To repay the debt, I quit Seoul National University Hospital and transferred to a hospital in a provincial area. But even after moving, I was only thinking about picking hot stocks and making up for all my mistakes in one shot. Eventually, I quit my job due to depression and lethargy.

- How did you get out of it?

▲ First, I admitted my mistakes. I deeply reflected on having jumped into stock investment without any basic knowledge of economics or accounting. It took me a year and a half to accept that it wasn’t bad luck but my lack of preparation that caused failure. Second, I focused on what I could do right now, today. You can’t repay debt or become rich overnight. "Here & now." I started with things I could do immediately: exercising 10 minutes a day, quitting alcohol, establishing regular habits, waking up 10 minutes earlier in the morning, and so on. Third, I concentrated on my main job. I focused on what I do best and built my skills. I thought, "Invest more in yourself and work hard. The best blue-chip stock is myself."

- Are there many people who come to the hospital because of stock addiction?

▲ Every day, 7 to 8 people visit the hospital due to stock depression and family conflicts caused by stocks. There are countless people who lose their homes due to stocks, cryptocurrencies, futures options, and so on. Since the war in Ukraine in February this year, the number has been steadily increasing, and the number of patients visiting for stock-related issues this year has nearly tripled compared to last year.

- You mentioned that even people who seem rational often become addicted. Why is that?

▲ The more people think they are rational and reasonable, the less they admit mistakes and repeat the same errors. Everyone lives with various cognitive errors and distortions. Everyone believes their own investments have a high chance of success. They hastily generalize by looking at only small parts or make arbitrary inferences about events with no causal relationship. For example, retail investors buy Samsung Electronics stock thinking, "It has fallen a lot from its peak, so it should rise soon," but this is just baseless speculation.

- What kind of treatment process do patients undergo when they visit the hospital?

▲ We conduct several tests to differentiate stock depression and addiction. If the findings meet addiction criteria, we start a systematic treatment program lasting 12 weeks. The first 4 weeks involve accurate diagnosis and understanding family relationships and environment. The second month focuses on self-reflection and acceptance. The final third month prepares for relapse prevention and practical implementation.

- Are there any characteristics specific to stock addiction?

▲ It can be seen as a type of behavioral addiction similar to gambling addiction. However, people addicted to gambling feel pleasure and satisfaction from the act itself even when losing money, whereas stock addicts obsess more over the results and become depressed. The most concerning aspect of stock addicts is their lack of insight into whether their behavior is investment or gambling. They often blindly trust unverified rumors and invest tens of millions of won in a single stock without any preparation.

- It seems difficult to escape addiction.

▲ If patients diligently complete the 12-week program, the cure rate is about 40%. Others may relapse once or twice and receive treatment again. Ultimately, the most important thing is to create a therapeutic environment. It requires a team effort of the patient, family, and therapist working together in solidarity.

- The author himself has not completely quit stocks but now earns stable profits.

▲ The problem was my mistakes, not stocks themselves. Just as a student with a grade 9 cannot enter Seoul National University, you cannot make profits without any preparation or study. Also, not everyone has to invest in stocks. If you let go of impatience, anxiety, and obsession with success, you can choose an investment method that suits your temperament. When predicting the economic situation in 2023, if you are introverted and have high anxiety sensitivity, I recommend investing in savings accounts, installment savings, or gold rather than stocks.

- What advice would you give to those who already think of stocks as gambling and are addicted?

▲ I want you to see reality with your own eyes instead of chasing mirages, sandcastles, or dreams. Focus on your main job and recover your physical health and stamina through exercise. There is no easy success, jackpot, or one-shot win. You must go day by day, step by step, with perseverance. If you focus on being diligent and fulfilled today, enhancing your main job and value, you will surely be able to escape stock depression and addiction.

This content was produced with the assistance of AI translation services.