My friend refused to follow my stock advice now down $1 million (66% down)

[WizardofSoda]

He invested all his retirement money in these risky tech stocks. But he grew his money from like $300,000 to $1.6 million over ~5 years of investing in these companies. I email him a lot talking about stocks. Anyway I was showing him since the start of 2021 when he was up at $1.6 million that the companies he was in had become overvalued. And I was advising him to lock in gains up there. I studied each company he had and recommended percentages to sell, basically I would have sold 75% when you average it out. He said no way he was still holding.

Then it kept going up so he was up to $2 million, and he said if he had sold 75% at $1.6 million he would have missed out on those gains. I said that is true, but its probability.

Anyway now the stocks he has have tanked and he is down to $500,000 in value. And its bleak because some of them they are still risky stocks, its not that they now have become cheap, they are still speculative. For me it was obvious what was going to happen sooner or later. And at the time I explained the logic to him of why that is. But for him it wasn't obvious, he didn't understand it.


Its brutal for him because he was getting ready to retire in his 30's just 6 months ago before they started tanking. Now he is listening to my advice.

 

[ThoughtfulCel]

Wow

 

[Ducky]

RIP, surely he knew we were entering a recession post-covid. Got greedy

 

[WizardofSoda]

RIP, surely he knew we were entering a recession post-covid. Got greedy

Ya when we were debating things last year I was showing him how over time 'pigs get rich, hogs get slaughtered'... literally using that quote many times.

He said back then when he gets to $5 million he will sell a bunch.

 

[MarquisDeSade]

I can't wait until all these rich cocksuckers end up in the streets, I want to see them hanging from nooses in trees. I want them to feel horrifying amounts of pain along with general humiliation before they die.

 

[WizardofSoda]

I can't wait until all these rich cocksuckers end up in the streets, I want to see them hanging from nooses in trees. I want them to feel horrifying amounts of pain along with general humiliation before they die.

Man I like the artwork you find that is awesome.

He could have retired on that money with my advice on how to keep investing it going forward after he sold 75% up there.

 

[MarquisDeSade]

Man I like the artwork you find that is awesome.

He could have retired on that money with my advice on how to keep investing it going forward after he sold 75% up there.

Anybody that is in this current stock market deserves to lose all their money, doesn't bother me however because I have none.

 

[WizardofSoda]

Anybody that is in this current stock market deserves to lose all their money, doesn't bother me however because I have none.

A challenge people face that it is a lot psychological but some real is if they go to cash the cash is losing its value with inflation. If they go to stocks they are getting crushed as the market comes down.

Many went into Coins but they got horribly reamed. Others are going into real estate, but they have to go in with leverage, and now that is in trouble in places.

Real estate you can lose insanely fast like imagine some guy takes 3 times leverage on a house. And the house falls 25% in price. He just lost all his capital he put in. And he has to hold to hope it comes back, meanwhile he has mortgage payments, house insurance, property taxes, and maintenance to pay for. That is how some people go under if they can't get enough rent.

Bonds are getting murdered as the interest rates rise.

What is left.. gold is only down 5% or so. But that is the thing its comparing to the $US dollars which is itself losing value with inflation. So gold is actually losing value faster than cash.

 

[MarquisDeSade]

A challenge people face that it is a lot psychological but some real is if they go to cash the cash is losing its value with inflation. If they go to stocks they are getting crushed as the market comes down.

Many went into Coins but they got horribly reamed. Others are going into real estate, but they have to go in with leverage, and now that is in trouble in places.

Real estate you can lose insanely fast like imagine some guy takes 3 times leverage on a house. And the house falls 25% in price. He just lost all his capital he put in. And he has to hold to hope it comes back, meanwhile he has mortgage payments, house insurance, property taxes, and maintenance to pay for. That is how some people go under if they can't get enough rent.

Bonds are getting murdered as the interest rates rise.

What is left.. gold is only down 5% or so. But that is the thing its comparing to the $US dollars which is itself losing value with inflation. So gold is actually losing value faster than cash.

Whole financial economic system in the west is on the verge of collapse and anybody worth their salt in knowledge knows this.

 

[Excluded]

Fuck this rich fags

 

[subhuman]

I can't wait until all these rich cocksuckers end up in the streets, I want to see them hanging from nooses in trees. I want them to feel horrifying amounts of pain along with general humiliation before they die.

Agree. Love these rich bastards getting what they fucking deserve. I hope all richfags lose big in the coming recession

 

[SoloAlex]

stock advice = gambling advice

 

[MarquisDeSade]

Agree. Love these rich bastards getting what they fucking deserve. I hope all richfags lose big in the coming recession

They will, but what is coming is no simple recession or even depression, it's total societal collapse.

 

[HyperVersager_4EVER]

Its brutal for him because he was getting ready to retire in his 30's just 6 months ago before they started tanking. Now he is listening to my advice.

Damn that's fucking brutal.
He was retarded to put all of it in one type of investment though, a notoriously risky one that is.