FYI he didn’t buy SPY. He did not dollar cost average. He borrowed money and bet

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Feb 15, 2021
12:26:33pm

Big Daddy D All-American

FYI he didn’t buy SPY. He did not dollar cost average. He borrowed money and bet

All at once on red. The odds were stacked against him just as much as if he had marched into an Indian reservation casino.

The securities markets are terrific, but if you use them incorrectly there are players on the other side of the table happy to take your money away.

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Big Daddy D

Bio page: Big Daddy D
Joined: Jul 3, 2003
Last login: Jun 10, 2024
Total posts: 39,444 (3,723 FO)

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Messages

Author

Time

GME: why you don’t borrow money to gamble story in WSJ

Big Daddy D

2/15/21 9:51am

What a dumb idiot and I don’t feel bad for him at all.

JohnnyC

2/15/21 9:53am

If rh didn't shut down trading he might be rich

Deleted

2/15/21 9:55am

Class action lawsuit

idcougarfan

2/15/21 9:56am

Probably more likely a lot more people would be in his same position.

N8Dawg

2/15/21 9:58am

By people you mean hedge funds. That’s who was protected in the shut down.

2/15/21 10:00am

No way enough people hold onto the stock to have the price keep going up. The

N8Dawg

2/15/21 10:54am

Yes, cashing out happens when the stock can only be sold to shorts and not purchased by anyone using online brokerages.

2/15/21 11:02am

I guess the answer is both would have been hit harder. Hedge funds the worst but

N8Dawg

2/15/21 11:17am

So very true.

Eddie

2/15/21 1:35pm

Oh you’re one of those guys. How much did you lose?

Big Daddy D

2/15/21 9:59am

It is very obvious that the price tanked at the exact same time that RH shut

crazY

2/15/21 10:04am

Lol of course it did. I said it hastened the turn towards more realistic

Big Daddy D

2/15/21 10:49am

RE: Lol of course it did. I said it hastened the turn towards more realistic

crazY

2/15/21 10:58am

Kind of like people who took out huge student loans on degrees devoid of any earning potential.

2/15/21 9:56am

RE: Kind of like people who took out huge student loans on degrees devoid of any earning potential.

JollyGreenGiant

2/15/21 9:57am

Diamond hands

coucou

2/15/21 10:01am

People like him shouldn't be allowed to declare bankruptcy.

2/15/21 10:01am

People like him are exactly why we need bankruptcy. You could just as easily

kosmokramer

2/15/21 10:25am

YOLO! Your life might stink because of your decisions, but YOLO nevertheless.

2/15/21 10:02am

YOLO = a gambling attitude. Dude took his shot, and it was a fail.

Eddie

2/15/21 10:08am

That's really not that big of a deal or risk. People make worse decisions when

byubyu

2/15/21 10:07am

This guy says that will be the reason of the next market crash

Zak

2/15/21 10:11am

Approaching stocks like this is akin to getting a loan and walking into a casino

lilpenny

2/15/21 10:28am

dude bought at the top like a dope.

Mayor of Cougartown

2/15/21 10:37am

FYI he didn’t buy SPY. He did not dollar cost average. He borrowed money and bet

Big Daddy D

2/15/21 12:26pm

I am of the opinion this will happen to more stocks than just GME and the bubble

crack

2/15/21 10:43am

It’s crazy we don’t offer real life education in HS.

2/15/21 11:30am

Graduates from pleasant grove and there was financial literacy class. I took it

Powerbait DPM

2/15/21 11:47am

They should include a paper trading account in the class.

Eddie

2/15/21 1:38pm

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