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I just get the feeling that a lot of people will get burnt when this is all over and this guy will be a millionaire.
Rules #1, 2 and 3 are don’t invest what you can’t afford to lose. Some people put their money in the hands of experienced fund managers like Mr. Left at Citron who’s lost his clients billions because Citron et al were overly greedy; some people decide to take the risk into their own hands. In both cases, investors decided how much of to put in, and could have lost everything.
I’m sure Mr. Left did everything he could to reassure his clients, cursed and screamed while he lost them billions, and eventually went home in his fancy car to a posh house and an expensive dinner. Democratising the risk takes power away from reckless fund managers like him.
Edit2- I guess what I’m trying to say is I feel 0 pity for that shithead, some pity for his investors, and shared anxiety for the new retail investors. Those last ones are the only ones who really have any truly free choice this time though.
Edit3- curtailing rant.
Adhiero-
invest
They are not “investing” though. They might think they are. Which is a problem.
Actually, isn’t the rule do not gamble what you cannot afford to lose? Which is fairly accurate in this context.
The forum is WSB after all.
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Rules #1, 2 and 3 are don’t invest what you can’t afford to lose.
Absolutely, but does that mean those people who have got caught up in the hype etc deserve to lose their savings etc? This is what concerns me.
Howard
Arducius
Thanks for the replies everyone. I do get the guy has to make a living and I don't begrudge him making money this way. I just get the feeling that a lot of people will get burnt when this is all over and this guy will be a millionaire. Those people losing out will be those people singing his praises now.