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> It worked so well—earning him 18% a year in dividends, on average—that he eventually poured $800,000 into the investments, called leveraged exchange-traded no
by alecco 6y ago
> It worked so well—earning him 18% a year in dividends, on average—that he eventually poured $800,000 into the investments, called leveraged exchange-traded notes, or ETNs. When the coronavirus pandemic hit, he lost almost every penny.
Plain gambling.
- thoraway1010 6y agoWho thinks they are getting a magic 18% year in risk free return?
- mark-r 6y agoThe power of wishful thinking is stronger than most people realize.
- perl4ever 6y agoEverybody; since the phrase "picking up pennies in front of a bulldozer" exists, you know it must be common.
- thoraway1010 6y ago18% is not pennies. That beats every low risk asset by a mile. 0.25% is pennies. And yes, all the market data fees, liquidity maker / taker fees - I get those pennies getting picked up.
- walshemj 6y agoAnd no sign of having a balanced portfolio and this guy puts 800k into one leveraged stock. I have about 25% of that in the UK and I am about 35% cash and have some very defensive stocks RIC GCT and Personal Assents that haven't lost any thing or are rebounding - just wish I had sold my RDSB in Jan/Feb but that would have oly saved my a 2-3 k loss