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https://www.nytimes.com/2020/07/08/t...y-trading.htmlRichard Dobatse, a Navy medic in San Diego, dabbled infrequently in stock trading. But his behavior changed in 2017 when he signed up for Robinhood, a trading app that made buying and selling stocks simple and seemingly free.
Mr. Dobatse, now 32, said he had been charmed by Robinhood’s one-click trading, easy access to complex investment products, and features like falling confetti and emoji-filled phone notifications that made it feel like a game. After funding his account with $15,000 in credit card advances, he began spending more time on the app.
As he repeatedly lost money, Mr. Dobatse took out two $30,000 home equity loans so he could buy and sell more speculative stocks and options, hoping to pay off his debts. His account value shot above $1 million this year — but almost all of that recently disappeared. This week, his balance was $6,956.
It's all a YT conspiracy to steal money from niggers! Yeah. Did the nigger not think anything could go wrong? Did it not think when it hit $250K, $500K, $1 million, "Sheeit, I shoulds be cashin' out" to "pay off" the house and everything else? Even stupid niggers get that urge to cash out and buy that new Chrysler 300 with a trunk full of Courvoisier. When you put aside the nigger lies, what really happened is that when things were going up, that's when it took out the home loans. In pure nigger greed, it thought in its walnut-sized brain that if things were going well with $15K, it should put in even more money.
Investing is something I'm known to talk about in my public life when friends have invited me on their shows, and not to give myself away too much, I think options can be great, but they can be devastating. There are very few people who should consider them, and most of the money made in options are the well-established pros (often with inside information) who fleece newbies. One minute you're suddenly up half a million, and then at market close, you're surrendering your new Mercedes and liquidating your kids' 529s. I saw this lesson in a client at one of the big financial names. In my last couple of years of college I had a pretty crappy job as a branch manager assistant. There was one client nobody liked, not a nigger but acted just like one, treating us all like crap because he had a whole $50K invested. But we prided ourselves on service and treated everyone like a millionaire, so we put up with the asshole. His stockbroker hated him secretly but needed that businesses to stay above his quota. I was delighted when that client sold his regular shares to go into options, in the most volatile stocks at the time. "Beta" was an understatement. And did I mention this client was several years from retirement? Options were completely against his stockbroker's advice and common sense. The closer you get to retirement, the more you need to minimize risk, not amplify it! I overheard one conversation where the stockbroker practically begged him to buy these insured corporate bonds instead.
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