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  #1  
Old 06-20-2020, 02:42 AM
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Tony
 
Join Date: Oct 2005
Location: Bandon, Oregon
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Rookie day trader $700,000 in debt

He had a neg $700,000 balance in his Robinhood account and killed himself. Sad story.

https://www.marketwatch.com/story/finance-isnt-worth-losing-your-life-over-the-heartbreaking-story-of-a-rookie-trader-who-racked-up-700000-in-debt-2020-06-14?siteid=yhoof2&yptr=yahoo

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  #2  
Old 06-20-2020, 06:57 AM
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A friend of mine hated Trump. He confused hatred with market analysis and probably put all his non-401(k) wealth in a "3X contra fund," one that goes in the opposite direction of the market at three times the speed.

A friend of Frau Putzer's is a widow, 70 years old, and working at Target. Her husband made one bad investment after another, and then died early.
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  #3  
Old 06-20-2020, 09:41 AM
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He should have left country,and started over. I can see suicide,for depression,deadly illness,or facked up veterans healthcare
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  #4  
Old 06-20-2020, 10:24 AM
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Posts: 5,924
There was bankruptcy to consider. Has to be better than oblivion. Far from the first person to have done things like this.

I hate to say this but it was only money in reality. I am not related to Jack Benny in any way but at times I wonder. Running real risk is a probable requirement of getting anywhere when young. Many of us including myself did it. There is limited time to recover as you get older. From misteaks. So being risk adverse is probably just common sense as you age. Chasing money you can not even ever spend past perhaps fifty is perhaps not that wise. If a large risk component goes along with it. Just my opinion though.

Last edited by barry12345; 06-20-2020 at 10:40 AM.
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  #5  
Old 06-20-2020, 01:10 PM
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Join Date: Dec 2006
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Robinhood is the Joe Camel of day trading. Here's a direct quote from their webisite on margin calls:

Quote:
Margin Call: A margin call is when you made that bet with Billy. If he ate the guppy, you'd buy the beer. He ate it, so now you've got to pay up. Of course, a margin call is about investment, not a bet. But the same principle applies.
Helping kids learn all the wrong stuff.
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  #6  
Old 06-20-2020, 02:57 PM
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Not suffering fools today
 
Join Date: Jan 2014
Location: Tartarus Dorsa Mountains
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My profits have to come from somewhere ...
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  #7  
Old 06-20-2020, 08:46 PM
Posting since Jan 2000
 
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There is no shortage of greedy idiots.
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Old 06-20-2020, 08:59 PM
Banned
 
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Permanent solution to a temporary problem.
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  #9  
Old 06-20-2020, 09:22 PM
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Not suffering fools today
 
Join Date: Jan 2014
Location: Tartarus Dorsa Mountains
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There is no shortage of idiots.

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