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I lost $500k on GME so far, lessons learned, i guess i’m a bag holder now
by buryat 6y ago
I lost $500k on GME so far, lessons learned, i guess i’m a bag holder now
- reitzensteinm 6y agoSo far, meaning you're still holding?
- buryat 6y agoyes, what’s the point of selling now, I hope it’s going to come back, at least that’s what people on wsb are saying and i’m a big sucker for believing everything
- rasz 6y agoit was up to $80 today, meaning at worst you would lose 3/4 of whatever you put in. It will go down to 0. GME is worthless in digital age.
- voisin 6y agoWorthless if you assume their business will not change and adapt. This is the fundamental risk in most short selling theses. People and businesses are not static, immutable objects. Given the dollars on the line you have to assume they will be seeking ways to pivot and adapt.
- krustyburger 6y agoThey have been consistently losing money, quarter after quarter, for a long time. The dollars on the line were present all the time. Your logic applies equally well to long positions, if you believe all people and businesses are constantly in such flux.
- iamacyborg 6y agoYikes. I hope that’s just play money for you and that you learn some hard lessons from this.
- buryat 6y agofamily money, have to hide this hole now and keep working hard meanwhile with new lessons i guess
- JoachimSchipper 6y agoHiding losses is how many Ponzi schemes get started. I'd strongly recommend you to get off that slippery slope immediately, even if it will be painful now.
- buryat 6y agohopefully i can manage it and worst case scenario life insurance will cover it
- iamacyborg 6y agoDude, please call a helpline if you’re thinking this kind of stuff.
- JoachimSchipper 6y agoThat's not a healthy thought. It's just money; your family would almost surely rather lose a big pile of money that you.
- voisin 6y agoHey, you need to recognize that what seems like a major fuck up today that you’ll never recover from will, in a few years’ time and with some perspective, just be a thing that once happened - maybe even a funny story. No matter how bad it feels, there is a relatively short half-life to the suffering. You can, and will, recover if you put your mind to it and give yourself time to work at it.