24 y/o stock trader starts a Go Fund Me acct because he bet wrong and lost his money.

[dixiegrrrrl]

He wants 200K ...
In 2 days he's got $95.00 plus a lot of comments....

Short version:

I've recently lost all my money in the stock market. I had a good ride so I put everything I had in it. After a bad 2016 start I've ended up losing everything I put in. I'm trying to get some money back because what I had lost was money for a house down payment and a ring for my girlfriend. Unfortunately that's all gone now.https://www.gofundme.com/4kqtbvk4

Long version:
http://www.zerohedge.com/news/2016-02-23/suicidal-trader-loses-everything-launches-online-begging-site

Comments at ZH are not very sympathetic.
and he bet on margins, thus using borrowed money in the first place.

[marmar]

1. Unbelievable.

[dixiegrrrrl]

3. A good comment at ZeroHedge:

First, the stock market didn't ruin him - he did it all on his own by essentially playing roulette.

Second, his life isn't ruined. His finances are, sure. But his entire life? Give me a break!

Third, I see no reason why anyone should donor even a dime to this schmuck who obviously hasn't even started yet to learn from this episode.

and interesting name for the stock blog he was using to complain on......Stocktwits.
Indeed.

[rocktivity]

2. Martin Shkreli -- is that you?

rocktivity

[KamaAina]

4. Can I give him some bitcoin?

Then listen to him whine when that crashes?

[marmar]

5. Some of the comments are hilarious.

[Hoyt]

6. Jerk. We had a gun loving day trader kill 12 people including some in

the bottom floor of the building where I worked part-time at the time. 1999 or something. He lost everything too, killed his family then took off to shoot others.

Just gamblers who need help.

[rocktivity]

21. Had a co-worker who would carry around a special radio

and eventually quit to do it full time. Ended up losing everything.


rocktivity

[HooptieWagon]

7. Well, he was exceptionally stupid.

But at only 24 he has plenty of time to regroup his life provided he learned from his mistake (which looks doubtful).

[EllieBC]

8. Give him a safe space and call his mom.

Poor little boy.

[whatthehey]

9. Consistency would be nice

I'll demonstrate it first.


I have EXACTLY the same sympathy - none - for this young man who made stupid financial decisions and is begging from strangers to help him out, as I do for the young woman fired from Yelp doing the same. Technically I have a weency iota more for him, as it was indeed possible that he could succeed, whereas somebody taking a job clearing under 1600 a month with a 1245 solo rental cost in a high cost city is doomed from the start. A small iota however, as he knowingly made risky bets he couldn't afford to lose.

However much of DU is hypocritically suypportive of the ex-Yelper, blaming low pay and high cost of living, as if these were surprises foisted on somebody taking a job in a given location any more than potentially losing margin options should surprise a stockbroker. I'm a few tax brackets higher than her and I would not even contemplate any job that meant living anywhere in either SoCal or the major NE conurbations. I could afford to live there, but not a lifestyle I would have any interest in willingly enduring. When she cannot even afford the basics, why should others bail out her stupid choice to live in one of the highest priced rental markets on earth without a job that pays enough?

Sympathy is easy and plentiful, but should be reserved for those who at least gave some thought toward not relying on it, not clueless dolts who were well enough educated to know better. When it's illness, or natural disaster, or economic dislocation, or even just intrinsic incapacity to provide for yourself through no fault of your own, I'm willing to help out, but gofundme also gets way too many swindlers and morons like these two.

[BlueSpot]

22. Yes!

I feel exactly the same way.

Both are young, both made stupid mistakes. But the good thing is that they ARE young. If they get their heads out of their butts and learn from the experience, they can fully recover. If they are rewarded for their "poor pitiful me" tales of woe, they will learn from that too.

you want to be grown-ups? Then own it and deal with the consequences. Then try to be less stupid in the future. Nobody is perfect but anybody can get better.

[Make7]

10. Someday he'll make a fine CEO of one of the big banks. ( n/t )

[Oneironaut]

11. I hope he learned an important lesson -

When gambling with the potential to lose it all, use other peoples' money.

[gratuitous]

12. First thing I thought of

Why in the world was he using his own money? Nitwit! He'll learn, though. As the Duke Brothers explained it to Billy Ray Valentine in "Trading Places," "Whether our clients' stocks go up or down, Duke & Duke still make money on their commission."

[Trekologer]

14. Looking good Billy Ray!

Love that movie.

[A HERETIC I AM]

15. I'll give ya a dollar if you can explain the trading floor sequence

Without looking it up first, of course.

[yellowcanine]

19. Mortimer Duke: "Turn those machines back on!"

President of Exchange: [Randolph Duke has just collapsed with shock] Mortimer, your brother is not well. We better call an ambulance.

Mortimer Duke: Fuck him! Now, you listen to me! I want trading reopened right now. Get those brokers back in here! Turn those machines back on!
[shouts - it echoes pathetically throughout the trading hall]
Mortimer Duke: Turn those machines back on!

[rocktivity]

23. You're welcome.

rocktivity

[MineralMan]

13. Haha!

Moron. Had he succeeded, would he be donating to people on Gofundme? I doubt that very much. Silly libertarian kid!

[CommonSenseDemocrat]

16. Sad that our society encourages this type of risk taking

[yellowcanine]

17. Inclined to call BS on this but if true, meh. 24 years old and he is whining about

not having money for a house payment and a ring at age 24? Feel entitled much? You can rent an apartment and save for the house payment. As for the ring? Man up and get creative. And if she won't have you because you can't afford a pricey diamond, you have learned all you need to know about than one.

[hobbit709]

18. I'll donate 2 cents so that he can buy a clue.

[JI7]

20. if he it's able to raise money he will do the same thing again