I wanted to try stock trading. I literally just had to pick whether it was going to go up or down (to get a positive return) and I picked the ones that looked like they were already going up. I somehow managed to get a negative return anyway after six months.
The moral of the story is don’t trust me with money.
I was a futures trader for six months back in the roaring '90s, fortunately not using my own money. At the end of it all, I had exactly broken even -- less the commissions paid on all my trades. So for me it was like flipping a quarter except I was charged a nickel for every flip. Meanwhile my boss (whose money I was trading) was down $100K over the same time period.
No, he was rich enough that $100K (plus the tiny amount of money he paid me) didn't really mean anything to him. The amusing thing was that he was friends with a bunch of San Francisco venture capitalists worth hundreds of millions of dollars and he was just burning up with jealousy despite being worth millions himself and owning a business that paid him about $40K a month -- a state that any normal person would be thrilled with.
Hey, don't forget about nepotism. I've seen far to many less experienced and less capable people get promoted just because they "Knew the right people".
30 Comments
ieatpwns@lemmy.world · 55 pts · 1y
$100 says this meme won’t get more than 50 upvotes
wabafee@lemmy.world · 44 pts · 1y
I have bad news for you.
ieatpwns@lemmy.world · 26 pts · 1y
Meh there’s only 2 outcomes i always win my 50:50s
henfredemars@infosec.pub · 18 pts · 1y
I wanted to try stock trading. I literally just had to pick whether it was going to go up or down (to get a positive return) and I picked the ones that looked like they were already going up. I somehow managed to get a negative return anyway after six months.
The moral of the story is don’t trust me with money.
TheBat@lemmy.world · 15 pts · 1y
panda_abyss@lemmy.ca · 9 pts · 1y
Mostly the second.
Sometimes you hit the first then the second.
People think they’re skilled when they’re just lucky and keep rolling the dice. Or they try and have a comeback and throw good money after bad.
Viking_Hippie@lemmy.dbzer0.com · 4 pts · 1y
Or both, if you're so inclined and/or incredibly prolific 🤷
henfredemars@infosec.pub · 3 pts · 1y
I’m too scared to place bets that wild.
ChickenLadyLovesLife@lemmy.world · 2 pts · 1y
I was a futures trader for six months back in the roaring '90s, fortunately not using my own money. At the end of it all, I had exactly broken even -- less the commissions paid on all my trades. So for me it was like flipping a quarter except I was charged a nickel for every flip. Meanwhile my boss (whose money I was trading) was down $100K over the same time period.
TheBat@lemmy.world · 1 pts · 1y
ChickenLadyLovesLife@lemmy.world · 2 pts · 1y
No, he was rich enough that $100K (plus the tiny amount of money he paid me) didn't really mean anything to him. The amusing thing was that he was friends with a bunch of San Francisco venture capitalists worth hundreds of millions of dollars and he was just burning up with jealousy despite being worth millions himself and owning a business that paid him about $40K a month -- a state that any normal person would be thrilled with.
Lemmyoutofhere@lemmy.ca · 8 pts · 1y
If they were already going up, it was too late. Just buy index funds and don’t try and pick winners.
expatriado@lemmy.world · 7 pts · 1y
most people than gamble won't win, but only the winners get interviewed
Viking_Hippie@lemmy.dbzer0.com · 3 pts · 1y
This right here. There's no survival bias like financial survival bias!
panda_abyss@lemmy.ca · 25 pts · 1y
I feel exactly like that vote in squid game
laranis@lemmy.zip · 8 pts · 1y
Revenge of the down vote.
I love this community.
cRazi_man@europe.pub · 10 pts · 1y
Where money?
Lemmyoutofhere@lemmy.ca · 6 pts · 1y
Where Lambo?
ieatpwns@lemmy.world · 1 pts · 1y
Mrkawfee@feddit.uk · 9 pts · 1y
Found the successful person.
mtpender@piefed.social · 48 pts · 1y
Hey, don't forget about nepotism. I've seen far to many less experienced and less capable people get promoted just because they "Knew the right people".
DickFiasco@sh.itjust.works · 48 pts · 1y
It should clarify that he's gambling with other people's money.
jumping_redditor@sh.itjust.works · 0 pts · 1y
what idiot would gamble with their own money
ArmchairAce1944@discuss.online · 2 pts · 1y
Go to any casino...
Fergie434@lemmy.world · 26 pts · 1y
I think someone’s trying to tell me something.
Ileftreddit@lemmy.world · 20 pts · 1y
ivanafterall@lemmy.world · 9 pts · 1y
PalmTreeIsBestTree@lemmy.world · 8 pts · 1y
And wage theft
jumping_redditor@sh.itjust.works · 1 pts · 1y
if you don't pay wages you can't commit wage theft
individual@toast.ooo · 4 pts · 1y
dufkm@lemmy.world · 3 pts · 1y
"Embezzlement" - my favourite word, phonetically speaking.
yermaw@sh.itjust.works · 2 pts · 1y
Just gambling that they dont get caught
ChickenLadyLovesLife@lemmy.world · 4 pts · 1y
Lemmings was the best computer game of all time. Fight me.
ArmchairAce1944@discuss.online · 1 pts · 1y
Especially if you were heartless!
omniman@anarchist.nexus · 1 pts · 1y
real