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> I'm honestly confused by the press around this event. A lot of people wish they struck it rich, just like him. Money (to some degree) buys happiness. Gets yo

> I'm honestly confused by the press around this event. A lot of people wish they struck it rich, just like him. Money (to some degree) buys happiness. Gets you out of a job you don't like. Gets you more time with your family, less time doing stuff you don't like (like working). If the poor can "eat the rich" and "catch them with their shorts down" in a stock trade that literally millions of others are pouring into (check how many subscribers r/wsb has gained past 7 days), it's literal herd mentality.

misiti3780 6y ago
ya sure, i get it .... but he took a bet and won, He could have easily lost everything. For every winner in the options game there are probably 99 losers. It's call survivorship bias.
- afterburner 6y ago
  He could have lost 50k, his initial investment, and considering he's young, and has a house, this would not represent ruin for him.
  - notahacker 6y ago
    Sure. He was smart, understood investment and had 50k to spare. And at least a bit lucky. This does not apply to most people who want to be him. Much as the narrative that this is the little guys 'crushing Wall St' sells more clicks than a lot of betting going on with plenty of Wall St winners and plenty more little guy losers, mainstream media really ought to know better. (That said, I think this particular profile is a lot more illuminating than a lot of the rubbish being written)
  - baby-yoda 6y ago
    > and has a house he rents [0] [0] - https://www.wsj.com/articles/keith-gill-drove-the-gamestop-reddit-mania-he-talked-to-the-journal-11611931696?mod=e2tw https://www.wsj.com/articles/keith-gill-drove-the-gamestop-r...
- arcticfox 6y ago
  > For every winner in the options game there are probably 99 losers. It's call survivorship bias. Sure, if people are taking aggressive positions. I'm not sure his initial YOLO was that insane, it had a fair chance of being OK. (In this unique case, the massive naked short position turned out to be the insane play.) But it's approximately a zero-sum game, so it's not irrational in general to be betting on options.

misiti3780 6y ago

ya sure, i get it .... but he took a bet and won, He could have easily lost everything. For every winner in the options game there are probably 99 losers. It's call survivorship bias.

afterburner 6y ago
He could have lost 50k, his initial investment, and considering he's young, and has a house, this would not represent ruin for him.
- notahacker 6y ago
  Sure. He was smart, understood investment and had 50k to spare. And at least a bit lucky. This does not apply to most people who want to be him. Much as the narrative that this is the little guys 'crushing Wall St' sells more clicks than a lot of betting going on with plenty of Wall St winners and plenty more little guy losers, mainstream media really ought to know better. (That said, I think this particular profile is a lot more illuminating than a lot of the rubbish being written)
- baby-yoda 6y ago
  > and has a house he rents [0] [0] - https://www.wsj.com/articles/keith-gill-drove-the-gamestop-reddit-mania-he-talked-to-the-journal-11611931696?mod=e2tw https://www.wsj.com/articles/keith-gill-drove-the-gamestop-r...
arcticfox 6y ago
> For every winner in the options game there are probably 99 losers. It's call survivorship bias. Sure, if people are taking aggressive positions. I'm not sure his initial YOLO was that insane, it had a fair chance of being OK. (In this unique case, the massive naked short position turned out to be the insane play.) But it's approximately a zero-sum game, so it's not irrational in general to be betting on options.