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Gazpacho posted:that would kinda encourage everyone to short everything
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Nov 20, 2015 07:11
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why are people giving him money? Can I get a go fund me cause I took a bad interest rate on my home? I also want bad things for people who bet the don't pass line ChairmanMeow fucked around with this message at 07:23 on Nov 20, 2015 |
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Nov 20, 2015 07:13
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ChairmanMeow posted:why are people giving him money? Can I get a go fund me cause I took a bad interest rate on my home? you would be surprised what the internet will give you money for just look at Patreon
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Nov 20, 2015 07:15
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Relin posted:what i dont get is why there isn't as this guy said (even though he was warned) a circuit breaker to immediately sell the stocks should the price increase past whatever amount he bought them for (so if he bought it at 2, if it went over 2 right) automatically to end up with a 0 balance. or is it some mechanism to punish this kind of speculation that the market allows for Even then a stop-loss order is no guarantee of being free of taking a hit. A few years ago I setup a stop-loss order on a long position thinking I was protected. Then news came out the company was under investigation for accounting fraud. When my order was triggered the market filled it about 25% under my original purchase price (for Diamond Foods, fraud regarding walnut prices, of all things.). Here's a decent article on how circuit breakers on exchanges work: http://www.investopedia.com/study-guide/series-10/chapter-56/chapter-5/circuit-breakers/
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Nov 20, 2015 07:19
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Lowtax posted:Quick poll: Is anyone actually surprised at this point that they're going to get probated for using the word fag in a derogatory way? goku
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Nov 20, 2015 07:22
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The Human Crouton posted:Anybody who attempts to do anything with stocks other than buy low, hold, and then sell high is an rear end in a top hat; and I'm glad this happened to him. The stock market sucks. This. Don't take huge risks with complex financial products without knowing exactly how they work. With only basic stock trading and a balanced portfolio poo poo like the OP has posted is impossible.
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Nov 20, 2015 07:28
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so, funny story: i was basically just doing some blind gambling except in the dignified world of the stock market and i -lol- lost all my money and im in pretty deep as well [click to donate]
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Nov 20, 2015 07:35
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gary oldmans diary posted:so, funny story: i was basically just doing some blind gambling except in the dignified world of the stock market and i -lol- lost all my money and im in pretty deep as well Your link isn't working 
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Nov 20, 2015 08:05
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How does it work when people like Oprah buy stock in weight watchers and suddenly the stock is like 50% more valuable? Do people really value associations with famous figures that much on wall street? Can I get marky mark to promote my penny stock and then dump shares.
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Nov 20, 2015 08:34
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I don't understand the stock market but it seems really silly
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Nov 20, 2015 08:35
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As you come to understand it you will realize that you completely underestimated how silly it really is.
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Nov 20, 2015 08:48
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Aferisan posted:How does it work when people like Oprah buy stock in weight watchers and suddenly the stock is like 50% more valuable? I'm about to go to bed so short answer: yeah pretty much. There was a little more to weight watchers but yeah. Pumping and dumping happens all the time and that's why penny stocks are dangerous.
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Nov 20, 2015 08:49
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Aferisan posted:How does it work when people like Oprah buy stock in weight watchers and suddenly the stock is like 50% more valuable? i saw one idiot reporter is claiming that shkreli "made money" on this whole affair which is completely backwards, so far its just people making money off him e: he kicked out the whole board of directors lol whatta buck Gazpacho fucked around with this message at 09:17 on Nov 20, 2015 |
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Nov 20, 2015 09:04
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I wish Etrade was like the Russian Mafia and they'd smash his car windows and then start cutting off his fingers when he didn't pay everything back after a week.
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Nov 20, 2015 09:08
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brizna posted:so is ladyambien our new mod cuz that seems pretty lame if you ask me. She is a shadow realm mod! She strikes, but no one knows who it is! "Who probated this person?" "It was me" She whispers to herself while reading the post. She looks over to Lowtax and nods knowingly. He smiles back, as he carries out her orders. I'm onto you, LadyAmbien, if that is your real username...
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Nov 20, 2015 09:29
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dad gay. so what posted:apperently some dumb fag found out what something means because some stupid shithead explained it to him at the "office" and everyone laughed about it so this piece of poo poo decided to make a thread about it like he was the smart "Alpha" guy from the office but actually he is a pathetic waste of space who doesnt know poo poo about anything. Link, please.
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Nov 20, 2015 13:27
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Day trading is like online gambling only the stakes are a lot higher and people who lose take it up the rear end a lot further, like to the sternum, instead of just like, the navel e: Is there even any legal online gambling venue where you can go a hundred thousand bucks in debt for just not watching your computer for a couple of hours?
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Nov 20, 2015 14:07
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Relin posted:what i dont get is why there isn't as this guy said (even though he was warned) a circuit breaker to immediately sell the stocks should the price increase past whatever amount he bought them for (so if he bought it at 2, if it went over 2 right) automatically to end up with a 0 balance. or is it some mechanism to punish this kind of speculation that the market allows for Short speculation isn't any more damaging than long speculation, and allowing both is important because they help counteract each other. As for why there's no circuit breaker, a trader might see an emerging bubble and open a short position long before the top. In that case, even if the price doubles and you are looking at greater than 100% loss you'd still want to keep the short open because you still believe the price is going to collapse eventually. If you are not an idiot , you didn't put your entire account into a single short position, so as your open short goes negative the margin balance is comfortably carried by the rest of the securities in your account.
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Nov 20, 2015 14:28
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memy posted:Eat the rich
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Nov 20, 2015 14:48
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https://www.youtube.com/watch?v=1ytCEuuW2_A
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Nov 20, 2015 14:51
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This is one of my favorite episodes of investors getting creamed: GT Advanced Technologies. They were developing and manufacturing sapphire technology screens for iPhone 6. Turns out Apple didn't end up using the tech. They also had messed up funding arrangements. In the course of an hour, the stock's trading was halted, the company declared bankruptcy, and the stock instant plummeted from ~$11 to $0. The carnage starts here: http://forum.thecontrarianinvestor.com/index.php?threads/gt-advanced-technologies-inc-gtat.69/page-499 Previously the thread had gems such as this. Page 320 posted:Don't hate the player, hate the game. Anyway, I earned those shares, I bought most of them at around 3 before anybody even heard of sapphire screens, because I did my DD and understood their R&D efforts and that 2014-15 would likely lead to huge things and their technology would have value over time even if solar was in the tank. To invest basically all your net worth in GTAT at 3 when the stock is cratering and people are talking bankruptcies took some serious cojones but I knew this was a once in a lifetime opportunity and I would kick myself forever if I didn't go all in. Might have been slightly reckless and against all known investment strategies but with big risks, comes big rewards.
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Nov 20, 2015 15:14
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Aferisan posted:How does it work when people like Oprah buy stock in weight watchers and suddenly the stock is like 50% more valuable? Some people just copy whatever Warren Buffet does
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Nov 20, 2015 15:42
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I used to work at E-Trade during the go-go tech bubble. You probably wouldn't be surprised at how many people bought twice as much Pets.com stock as they wanted because they kept hitting the BUY button on their slow 56k connections.
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Nov 20, 2015 16:02
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brizna posted:seems like you already have, no? look within. I'm fairly mad with power, but I usually reserve it for dressing up my dogs in funny clothes and then laughing because they are powerless to remove them. quote:She is a shadow realm mod! She strikes, but no one knows who it is! "Who probated this person?" "It was me" She whispers to herself while reading the post. She looks over to Lowtax and nods knowingly. He smiles back, as he carries out her orders. You know too much. LadyAmbien fucked around with this message at 16:57 on Nov 20, 2015 |
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Nov 20, 2015 16:54
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XK posted:This is one of my favorite episodes of investors getting creamed: Read through some of this, holy poo poo.
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Nov 20, 2015 17:00
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extra stout posted:capitalism is cancer to humanity and the stock market is one of the few things im actually glad to be ignorant of, i understand none of those words, and i will not learn them lets get marry if youre gay lets get gay marry
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Nov 20, 2015 17:16
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bloodysabbath posted:Read through some of this, holy poo poo.  6 posts below a link and copy/paste of the bankruptcy announcement 
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Nov 20, 2015 17:18
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He played the game and lost. In the stock market someone has to lose for someone to make money
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Nov 20, 2015 17:23
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XK posted:This is one of my favorite episodes of investors getting creamed: Lol thanks for this
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Nov 20, 2015 17:26
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LadyAmbien posted:Oh my god, no. I would go crazy with power.
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Nov 20, 2015 17:28
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I do not understand stocks but this seems insane and I am glad I never went tens of thousands of dollars in debt by accident. All my money is in index funds. The return is not the absolute best short term but they are stable and have decent and steady growth overall.
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Nov 20, 2015 17:34
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XK posted:This is one of my favorite episodes of investors getting creamed: I can't imagine the sinking feeling of despair one would feel when losing all their money like this.
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Nov 20, 2015 17:38
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bloodysabbath posted:Read through some of this, holy poo poo. quote:I have just lost all of my retirement and all of my son's savings. My son has special needs and I have failed him in the biggest way, sorry for posting this but I am totally devastated!! Same person later: quote:I am totally numb. Just got home after working. I saved this money for over 25 years and it is gone in a day. I haven't sold my shares because I just don't know if the shares will be worthless soon or any chance that they may come back. I bought at $18 and 18.25 and have about 4700 shares. This is everything. My retirement and my savings for my son and me. This is so hard for me to take in because my son has special needs and this was for him and his future, especially when I'm not here any longer. He is getting of the bus soon so I need to dry my tears and put on a smile. He is the best son a mother could ever wish for. I just feel and know that I have failed him and trying to figure out what to do. Should I sell now and at least have a couple thousand for us to at least have a few weeks to figure out what to do. I feel for everyone on here who lost. I was advised by someone who I trusted dearly not to sell. My instincts told me otherwise but I put my trust in this individual because I just felt so inept at trading and believed he knew much more than me. I will more than likely have to sell our home and struggle with this only because change is so difficult for my son. I apologize for venting but I am too ashamed to share this with my family or friends. I shared this with the person who advised me to hold and my messages go unanswered. Funny, that's the same response I got when I emailed GTAT's IR over the past few weeks. I truly wish the best for everyone on here who has suffered losses. quote:ok well I am done, done managing my own retirement, done with everything. i just hope my wife does not leave me. my parents are not going to be happy, this is not good. sold it all, i am DONE quote:I'm not coping well at all. I'm watching 25 years of savings going down the drain. I was stupid enough to have my entire retirement fund invested in this. All I can hope for is to eventually break even if it should ever get back to $5. This was like a punch right in the gut. quote:I am dead meat. All my money is in GTAT and on my stocks I was doing margin. Since I owe way more than what's in there, I don't know what will happen to margin. Some people were smart, I believed so much in GTAT potential and lost all my savings including my 401K, IRA. At this point, I don't know what to do. I told my wife about this and she was upset and angry at my stupid move. But she still loves me. quote:Basically my net loss is around $750K in stocks and $140K in options. All my earnings for the past 15 years are gone in one night.
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Nov 20, 2015 17:40
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working as intended, just stop feeding him and the market will do the rest
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Nov 20, 2015 17:43
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XK posted:Same person later: lol I kinda feel bad but jesus christ investing all of your money into a risky stock and on margin no less I get that a lot of them were going on the advice of people they trusted but at some point when do you do your own due diligence when you're talking about tens of thousands of dollars and money you've saved over 25 years?
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Nov 20, 2015 17:44
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XK posted:Same person later: 
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Nov 20, 2015 17:44
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capitalism step 1: bet on yourself! capitalism step 2: lmao eat poo poo poor rear end retard
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Nov 20, 2015 17:46
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Crazyeyes posted:I do not understand stocks but this seems insane and I am glad I never went tens of thousands of dollars in debt by accident. Unless you are willing to devote hours per week to managing and investigating your investments, being in indexed mutual funds, or at least mutual funds that cover broad sectors, is the correct thing to do. One of the most important factors, beyond if a fund covers investments you want to be in, is the expense ratio. Some get as high as ~3% per year, which is a rip-off and only usually shows up on high-risk heavily managed funds. Common funds which show up in retirement accounts often hit 1.25-2%, which is also a complete rip-off. Something like the Vanguard 500 Index Funds Admiral Shares is 0.05%, that means you could invest $100,000 for $50 annual expense. Also, use Vanguard mutual funds unless you have a good reason not to.
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Nov 20, 2015 17:53
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at least until those mutual funds get loaded up with toxic AAAs
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Nov 20, 2015 17:55
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This mother posted later about going to work hanging drywall. Also apparently had to sell their house. indeed
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Nov 20, 2015 17:58
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