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Michaeldr0p t1_jebu80q wrote

Reply to comment by 1boltsfan in How bears feel rn by NeedThoseGains69

To be fair I’m only down 90% this year . But I’m somehow up 50% the past 2 days yet I only have a small fraction of what I started with. This just doesn’t add up 🤷‍♂️🧐🧐🧐

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Time_Manufacturer645 t1_jebwogv wrote

50% of 10% is 15% percent of the original, congrats you only need another 670% gain to zero out

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My-Cousin-Bobby t1_jec3hzt wrote

I have found there are a shocking number of people who don't understand this concept lol

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reddituseranyonymous t1_jec52sj wrote

My brokerage account is down like 99% from ATH :(

Just realized my brokerage account had more money at the end of the dot.com bubble in 2002 than it does now

My retirement account is down about 50% from ATH but has gone from [new account] to like $170k now

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DayOfDingus t1_jeccm61 wrote

I was trying so hard to rationalize how you were able to fuck up this bad for so long until I realized yup that's a gambling addiction.

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reddituseranyonymous t1_jecdpz7 wrote

You're not good at being rational then. Not having a plan and bad advice from an idiot at Morgan Stanley cost me 70%

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reddituseranyonymous t1_jecv7et wrote

I have an Etrade account near ATH I asked for help, they gave me a guy from Morgan Stanley. I asked him about cashing out my options and buying $QYLD he said not to. I didn't really have another plan. I should have just said fuck it and done it anyway. Had I done so Id have about 1500 shares of $TSLA, 20,000 shares of QYLD and enough cash left over for a 20% down payment on a house.

I looked at the QYLD dividend history since my ATH. The smallest was $0.169.... at 20k shares that's $3380/month, just about 40k a year. Not enough to quit and retire early, but enough to set things on cruise control.

Heck. I could have increased my 401k contribution at work, lowering my taxable income from work, and offset some of the in taxes from the dividend payments.

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matjoeman t1_jec74uw wrote

Wtf are you investing in to lose that much?

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reddituseranyonymous t1_jecf593 wrote

I had $TSLA Dec 2021 $800C/$1200C in October 2021 Tesla went up 80% in a month. My account went ballastic. It went from roughly 400k to 1,100,000

Peaking the trading day before Elon asked Twitter about paying Taxes. I spent the weekend wondering what the hell to do with the money. So many things I could do. I didn't have plan for my account going up 500% in a month. I considered cashing out the options, asked Morgan Stanley about buying $QYLD. They said dont. I had no idea what to do. I figured the stock would recover from a CEO sale soon, like most stocks do. It didnt.

That cost me 70%.

I forgot that no one cares how much cash you have in savings unless the bank fails. I could have put $600k in savings until I came up with a plan.

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Michaeldr0p t1_jecjap1 wrote

Oh . See luckily I’m poor so I just get to learn from my mistakes it doesn’t really financially devastate me. I just go back to eating ramen and it’s just another day.

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rokman t1_jed0tod wrote

How it’s this even possible? How can you keep adding cash to your brokerage and picking loser after loser with never considering changing the strategy

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reddituseranyonymous t1_jed1390 wrote

Its possible because I didnt do anything you said.

Buy Tesla pre split: 300% gain. Buy Tesla options: 500% gain. 15x in 15 months. Boom. Done.

Get overwhelmed when the 500% gain happens in a month. Get bad advice. Options for end of year go to $0

Now down 70% from ATH

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Sensible_Thoughts t1_jedet2f wrote

Okay but that is like the last two years. How was your account larger in the dot com bubble than it is now?

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reddituseranyonymous t1_jedmwzc wrote

Math. My account low in 2002 is roughly where my account is now

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Sensible_Thoughts t1_jef3fgq wrote

Yeah we re asking how you managed to lose all the money you made in like 20 years. Assuming you kept investing regularly. It doesn’t really make sense unless you just saved up money and then bought a shit ton of options. Which if true, who’s the idiot the guy at Morgan Stanley or you?

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reddituseranyonymous t1_jef4ppx wrote

Id say the idiot is you considering you want information from me but you're being an asshole instead of being polite. So go fuck yourself

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EconHuman t1_jee82fl wrote

Are you joking or are you actually regarded?

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