Saw this on market watch, this guy received a $2.5M windfall from his late uncle, and within 4 years has only $325k left
He is betting the rest on bad news coming out of AAPL earnings tomorrow. You can read about it here:
https://www.reddit.com/r/wallstreetbets/comments/…
Looks like a pretty serious gambling problem...Obviously I hope it works out for him, but I'd say its just a matter of time until his networth reaches $0.
Update; Slow day at the office, found the livestream for anyone interested...3:30 PM EST the fireworks begin
https://www.youtube.com/c/FSComeau/live
either link works.
That's fucking terrible... but a good warning for those without any experience, who think they can be the next big thing just by "trading".
Reminds me of "I just bought my first stock it was GoPro." No where near as huge of a loss, but the timing was horrible.
This guy is the living, breathing definition of "behavioral bias". His own desire to get his $2.5m back is keeping him gambling.
Also, his scenarios are comedy gold. I feel like his idea of what's likely and the reality of the situation are on completely different panes.
This just in: he will be streaming his reaction live on youtube tomorrow. Actually looking forward to this. Schadenfreude at its purest.
https://www.reddit.com/r/wallstreetbets/comments/5qprhh/by_popular_requ…
not even going to read the reddit thread, this is why you diversify people. you might not get 40% compounded, but you won't have permanent impairment of capital either
Just saw the headline and remembered this article. Ouch. Hope he survives.
Note to self: IP Jr. is getting a spendthrift trust that doles out $2500/mo + rent.
AAPL up after hours. I hope this guy learned his lesson.
He's clearly a fucking ape. Samsung is getting creamed; it's pretty obvious his bet should've been going in the opposite direction.
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