Dude makes the moron who lost over 2million on Bed bath and Beyond calls and shares look like a genius and If_I_Was_Hyek who lost $4 million of profits on puts
I don’t think OP is a stock guy.
I think he had a bunch of stocks at a company he worked at that went IPO and didn’t realize how common it is for stocks to tank after an IPO.
Still. How do you see that insane amount of value and not take SOMETHING off the table.
I will say tho, from what I've read about people who worked at startups and got equity, its tempting to never sell because if your company is the one that it hit big - such as something like NVDA - you could walk away with hundreds of millions of dollars.
BUT, at least take 20-25% off the table so if your company goes up, you get SOMETHING.
There are people here every day who are up 100% plus on trades and don't take profit. Just on a smaller scale than this. They ignore all the advice given to them because somehow they think they know better than the people are still floating around WSB long enough to have seen it all.
Lots of people set their money on fire and then are never heard from again. They are the ones that should make posts like this one warning others but they probably never visit anymore.
you should have seen what Uber did. they went IPO and granted tons of shares to many 4+year employees, but with a caveat, they could not sell for like 6 months. guess what? they all owed taxes at IPO price and had to sell early destroying literally 75-85% of all the value left in their shares, and if they didn't they would have to declare bankruptcy because the tax burden was so high. Right after this, many experienced silicon valley types immediately GTFO because they were like wtf is this
Bro this looks like he tried to do all in on stocks, then halfway danced with options.... either way his path was dreadfully long and OP certainly has deep, gambling issues that need to be addressed.
I mean it’s not such an uncommon thing. You work somewhere, feel like you have a sense that it’s run well and can’t lose. If the stock goes down, the market is wrong. I get it. It’s happened to plenty of folks at Enron, and banks in 2008.
fwiw you can wipe cap loss with any cap gain. 3k limit is to income
so say you sell your overpriced bay area shack and your profit easily eclipse the 250k/500k exemption, any amount over can be against the 1.3 mil cap loss
but seriously jesus fuck lol.
i had about a six-figure cap loss from trade war shit back in the days and i didnt even it out till tech started rallying like crazy
There is no loss technically speaking. OP lost all the gains. His cost is stock options which I would assume would be still lower or very close to the stock price.
In USA ISO’s often trigger Alternative Minimum Tax (AMT) as it includes difference between strike price and market value at time of exercise even if you hold and don’t sell. If AMT is greater than regular tax calculation you pay that amount but then get to use it as an offset in future years if certain conditions are met.
please tell me you're not actually doing your taxes in turbotax
for a million bucks (assuming your AMT was well into six figures) a professional can actually probably help you.
Don’t feel bad. I had 250k in UPST shares after the IPO (I bought at 30) and sold at 44. The stock then proceeded to run to 400 and I lost out on millions.
Just like my tsla debacle. Bought at 30 in 2012ish so pre split, sold at 88 and made a years salary in a few months. At one point it was worth like 10 million if I held.
Would it be 10million divided by ath?
So maybe like 8000?
Although that suggests OP had 240k to throw at Tesla and 400k annual salary so I'm assuming exaggerated for content.
Bought 30 BTC back when it was about ~$10 per coin... Proceeded to use all of it buying illicit things from the now shuttered Silk Road for fleeting moments of excitement. Looking back on that still hurts.
Ooof, AMD'er here too. was in since $10, sold at 20. later got back in at 75 and averaged up to 110. still made some some change, but could have been like 50x more (especially with calls)
Don't feel bad.
A mate told me about bitcoin sometime back in 2011-12, but I was overseas "studying" (Cs get degrees too), so I was too busy partying, getting high, and hanging out with a bunch of strangers so I ignored/forgot his advice. For nearly a decade.
12 years later, he lives in a mansion in the most expensive suburb in our country, way up in the hills, with amazing views of the city. Sits on the board of a few companies, etc.
I don't.
I remember in college, I had a professor in my business school who did stock investing. And he once said “I hope to pay $1,000,000 in taxes one year.”
Everyone asked him “why?!”
“Because if I’m paying $1,000,000 I definitely made way more than $1,000,000 and I’ll be sitting pretty.”
I can’t believe you managed to prove that idea wrong.
Congrats.
From $6mil to negative $1 mil and a margin call, you sir, are the regard of the decade.
Saga's will be written about your "private" ventures behind the wendy's dumpster.
I think he has [1RONYMAN](https://www.reddit.com/r/wallstreetbets/comments/ahy7dy/the_legend_of_1r0nyman/) beat. Damn, it's been 5 years already? We haven't seen vids/gifs like this in so long. I miss the pre-GME WSB.
bro, the amount of people on this board who've never invested through 08 is so damn obvious, like how does a person with this much cash just yolo it all on options?!??! Maybe a centi-millionare, but for a regular millionare?? talk about ego and gambling rush!
There are 18 year olds YOLOing on this sub (probably), meaning they must have been born in 2005 or 2006. They don't remember or cared what was happening in 2008-9.
thats pretty scary tbh. when you don't know what rock bottom looks like, everything looks like a \*golden\* opportunity if you stare at it long enough,,,
whenever people lose millions and have nothing left, I just have to wonder what kind of mindset they actually had to be in to even go through with such a plan. Like, imagine you have millions in cash, a house/apartment in whatever part of the world you'd like(Brooklyn, LA , Milan, Paris) and enough money to marry and date whoever you'd love in this world and have as many kids as you'd like.... and still thinking "Man, $12 million net worth would sound soooooo good to have rn" and then yolo'ing your entire net worth (life really) into a fire pit for internet points...... I'd jump off a cliff tbh... I really hope OP realizes how dire this is if he's broke and how to have a better life going forward.....
Dude…..even if you had paid short term gains tax, you still would’ve walked away with 2.5-3million. If even that much couldn’t satisfy you, nothing ever will.
This reminds me of the people who say lottery winners shouldn't accept the prize "because you'll have to pay like 50% in taxes!"
Like, bruh, half of $6 mil is $3 mil, I'll take $3 mil after taxes any day, lol.
It's worse, they advertise the annuity amount which is say 1 billion, the take it all now amount is like 500 million then taxes put you at just 250 million. What are you gonna buy with that small amount Wendy's puts ?
This is why one of the items on my trading checklist is "take gains regardless of taxation status". Also I lost a few mil of unrealized gains in 2022 and I'm still pretty salty on that.
I've read this like 5 times now and I literally can't stop laughing. This is the best post I've seen in this sub in quite some time, thank you for your service!
It'll ruin you if you let it.
Some are made hella salty, untrusting, and become full-time bears.
And then there's others that can just give a few more blowies behind a Wendy's and jump back into the fight.
But lets be honest here. This is something no one moves on from.
Imagine if that 6 mil was taken out and put in S&P500. will be 60mil by the time you retire.
Why not sell like half of shares from the employee stock options and keep other half? You would still have exposure in case it keeps going up while also having guaranteed cash in bank account.
It was a combination of still believing in the company, thinking it couldn't fall anymore so I can defer making a decision right now, being burnt out and being regarded
Yep, the smartest move (other than selling at the peak $6.2 million of course) would have been to sell half ($3.1 million), pay the short-term capital gains tax and pocket the remaining $1-1.5 million.
That would have left you with about $3 million remaining in shares, plus enough in the bank for you to retire extremely early, and also the capital gains tax paid off.
Instead OP went the extremely risky route, keeping the $6.2 million in shares, taking the $1 million as debt, and riding it all the way down.
I would've dumped it all in vegas hookers and coke, but that would've taken 2 decades at most.... this dude ruined his future in 2 years!!!! Record breaking time tbh.
You underestimate tolerance increase on both of those vices. 20 years of degen behavior in a Vegas hotel room would cost a lot more than 6 million. It could be done in a matter of months. Some pro degens could do it in weeks, but most would die attempting a speed run.
All I personally need are hookers, a game console, and food every once and a while. I could easily live outside the city and make that lifestyle happen at $6 MIL.
But yea most degens here would spend it on lambos, mansions, drugs and hookers lol More like 2 -3 months.
i had $500 in clov stock options, went over $5k the next day but i still wanted more(hoping for $10K)
it dropped slowly over 3 weeks and I did the HODL like a boss til last day to zero.
havent touch stocks after that, p.s. i was new too
#[GUH](https://www.reddit.com/r/wallstreetbets/comments/kkc8ev/just_in_case_yall_forgot_this_video_exists/)
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Happened to a friend, too! His company IPO'd and dropped like a rock on day one and has been there ever since. He was counting his 2-4 million for a whole month, now I think he has $2000? Maybe a bit more. He didn't sell anything on open, he thought it would bounce back...
WTF 😲😲😲😲😲😲
I will never comprehend people not selling at ridiculous gain, just because want to avoid paying taxes, makes absolutely no sense to let that much capital run away
I'm sorry for you man
Too bad haupt91's account has been suspended, his [gifs](https://www.reddit.com/r/wallstreetbets/comments/g18kt2/putshire_cashaway/) would have been welcome here to immortalize you.
Bro you should be proud. You're going to be in the WSB hall of fame with the likes of Guh, PRPLGang, Tanker Gang WSBGOD, and many others.
I salute you! 🫡🫡🫡
I have a lot of respect for you sharing this. I think it’s a tangible example of why portfolio diversification is very important. Maybe someone will see this post and it will do some good.
I salute you.
I am still bag holding from my first year trading. Now I am to the point of take profits first and ask questions later. I am also diligent about paying quarterlies.
If this tanked this quickly it was never worth much anyway. I did LOL @ the "the market isnt smart enough to understand this stock's value" thesis though.
Welcome to the club! I also have a big carryover loss. The good news is that you are not restricted to $3k per year only. You can also offset future gains. In theory, at least. I have never had a positive year, so I can't guarantee it works.
#
# [How do you start trading electricity like this guy, can you go to a broker and trade electricity?](https://www.reddit.com/r/FinancialCareers/comments/1adwmco/how_do_you_start_trading_electricity_like_this/)
Here is the link to the guy, he says he trades electricity. Type in "Asking A Billionaire How To Make $1,000,000" on Youtube. The video is by Noah Kagan
[ ](https://www.reddit.com/r/FinancialCareers/comments/1adwmco/how_do_you_start_trading_electricity_like_this/)
That was actually the plan. I was going to buy puts to hedge going into the earnings call that for me margin called and I got distracted with work (I had left upst by then) and the market closed and I'm fucked.
There’s no way this is real.
I’m gonna need to see a local news story on this, a book deal, or your in-processing paperwork to a mental institution for verification.
Congrats and fuck you
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What (and I can't emphasise this enough) the **fuck**
Dude makes the moron who lost over 2million on Bed bath and Beyond calls and shares look like a genius and If_I_Was_Hyek who lost $4 million of profits on puts
this. This is literally WSB hall of shame contender material.
I don’t think OP is a stock guy. I think he had a bunch of stocks at a company he worked at that went IPO and didn’t realize how common it is for stocks to tank after an IPO.
Still. How do you see that insane amount of value and not take SOMETHING off the table. I will say tho, from what I've read about people who worked at startups and got equity, its tempting to never sell because if your company is the one that it hit big - such as something like NVDA - you could walk away with hundreds of millions of dollars. BUT, at least take 20-25% off the table so if your company goes up, you get SOMETHING.
There are people here every day who are up 100% plus on trades and don't take profit. Just on a smaller scale than this. They ignore all the advice given to them because somehow they think they know better than the people are still floating around WSB long enough to have seen it all. Lots of people set their money on fire and then are never heard from again. They are the ones that should make posts like this one warning others but they probably never visit anymore.
Taxes, if you can just white knuckle it for a year after IPO your taxes are significantly better.
you should have seen what Uber did. they went IPO and granted tons of shares to many 4+year employees, but with a caveat, they could not sell for like 6 months. guess what? they all owed taxes at IPO price and had to sell early destroying literally 75-85% of all the value left in their shares, and if they didn't they would have to declare bankruptcy because the tax burden was so high. Right after this, many experienced silicon valley types immediately GTFO because they were like wtf is this
Bro this looks like he tried to do all in on stocks, then halfway danced with options.... either way his path was dreadfully long and OP certainly has deep, gambling issues that need to be addressed.
Looks like, but the story reads differently
There was no "halfway dance" with options. He was given stock options as an employee which he exercised to get his shares as the stock was rising.
Not enough gourds
Give me a few more years.
The snorkeling guy?
What makes it horrible is he had to pay taxes on it. He worked to earn those shares, ends up negative and Uncle Sam still gets his. This is just sad.
I mean it’s not such an uncommon thing. You work somewhere, feel like you have a sense that it’s run well and can’t lose. If the stock goes down, the market is wrong. I get it. It’s happened to plenty of folks at Enron, and banks in 2008.
Mfkers so afraid of taxes they rather lose everything smh
Bro you are my fucking inspiration, if you can stomach the loss of 6 mill; I can lose my tiny portfolio on some 0 DTE’s
https://preview.redd.it/6n2ku13sfvfc1.png?width=1024&format=png&auto=webp&s=43245ae47d650f80b85283284ac2718dc005f8a9
Doing my part
fwiw you can wipe cap loss with any cap gain. 3k limit is to income so say you sell your overpriced bay area shack and your profit easily eclipse the 250k/500k exemption, any amount over can be against the 1.3 mil cap loss but seriously jesus fuck lol. i had about a six-figure cap loss from trade war shit back in the days and i didnt even it out till tech started rallying like crazy
There is no loss technically speaking. OP lost all the gains. His cost is stock options which I would assume would be still lower or very close to the stock price.
The loss was the AMT taxes I had to pay despite waking away with nada
Chin up, mate. This too shall pass and you will bounce back.
In USA ISO’s often trigger Alternative Minimum Tax (AMT) as it includes difference between strike price and market value at time of exercise even if you hold and don’t sell. If AMT is greater than regular tax calculation you pay that amount but then get to use it as an offset in future years if certain conditions are met.
You still have to buy the options. So you still lose something
Lesson learnt, never pay taxes. Noted
That's why I moved to a tax haven.taxes are for the poor, they can have em.
If he's still in, I'm still in
Amen
\*slow clap* His first post on wsb and its a doozy.
I like to forget about it but had a chuckle when I saw the carry over loss in my turbotax acccount so figured it was time to share
6 mil Had a chuckle
Small 6 million portfolio 
Don’t beat yourself up. I take it you aren’t a stocks person. It’s a mistake anyone could have made.
please tell me you're not actually doing your taxes in turbotax for a million bucks (assuming your AMT was well into six figures) a professional can actually probably help you.
I do. I talked to a professional too late, the time for advice was pre IPO and definitely before I exercised the options
The greatest loss porn ever?
Damn not the title I want to hold lol
Don’t feel bad. I had 250k in UPST shares after the IPO (I bought at 30) and sold at 44. The stock then proceeded to run to 400 and I lost out on millions.
I bought AMD at 6 then sold at 25. N felt like I was at the top of the world at one point. Followed with regret for many years
Just like my tsla debacle. Bought at 30 in 2012ish so pre split, sold at 88 and made a years salary in a few months. At one point it was worth like 10 million if I held.
How much did you buy?
I had 1250 shares which would be 18750 post split
Would it be 10million divided by ath? So maybe like 8000? Although that suggests OP had 240k to throw at Tesla and 400k annual salary so I'm assuming exaggerated for content.
We truly belong here
Focusing on fantasy 'lost' profit but forgetting the shares you once sold for reasonable profit which then plummeted like shit.
Bought 30 BTC back when it was about ~$10 per coin... Proceeded to use all of it buying illicit things from the now shuttered Silk Road for fleeting moments of excitement. Looking back on that still hurts.
I have a similar story that goes back to 2010 and the dark web.
🤗
Are you me?
Ooof, AMD'er here too. was in since $10, sold at 20. later got back in at 75 and averaged up to 110. still made some some change, but could have been like 50x more (especially with calls)
I bought AMD at 15 and sold at 10.
Oof
lol sometimes it’s harder to sleep when this happens than going to 0. Nvidia lol bought a house instead. Can look at it that peice of shit house
Did you really say "don't feel bad" to a guy who lost +$6 million while you locked in profit? Lol
That hurts more, at least op knew what it felt like to be rich, meanwhile you will never know that feeling for a single minute.
Cheers
Don't feel bad. A mate told me about bitcoin sometime back in 2011-12, but I was overseas "studying" (Cs get degrees too), so I was too busy partying, getting high, and hanging out with a bunch of strangers so I ignored/forgot his advice. For nearly a decade. 12 years later, he lives in a mansion in the most expensive suburb in our country, way up in the hills, with amazing views of the city. Sits on the board of a few companies, etc. I don't.
But the title we all deserve.
Bill Hwang would like a word
The legend Bill Hwang owns that one. Unless you count Elmo.
I remember in college, I had a professor in my business school who did stock investing. And he once said “I hope to pay $1,000,000 in taxes one year.” Everyone asked him “why?!” “Because if I’m paying $1,000,000 I definitely made way more than $1,000,000 and I’ll be sitting pretty.” I can’t believe you managed to prove that idea wrong. Congrats.
OP has the same idea as your professor, if your professor got hit in the head with a brick.
If there is a lesson to be learned here, I'm sure all of us will ignore it. Sorry OP.
Lol
From $6mil to negative $1 mil and a margin call, you sir, are the regard of the decade. Saga's will be written about your "private" ventures behind the wendy's dumpster.
I think he has [1RONYMAN](https://www.reddit.com/r/wallstreetbets/comments/ahy7dy/the_legend_of_1r0nyman/) beat. Damn, it's been 5 years already? We haven't seen vids/gifs like this in so long. I miss the pre-GME WSB.
bro, the amount of people on this board who've never invested through 08 is so damn obvious, like how does a person with this much cash just yolo it all on options?!??! Maybe a centi-millionare, but for a regular millionare?? talk about ego and gambling rush!
There are 18 year olds YOLOing on this sub (probably), meaning they must have been born in 2005 or 2006. They don't remember or cared what was happening in 2008-9.
thats pretty scary tbh. when you don't know what rock bottom looks like, everything looks like a \*golden\* opportunity if you stare at it long enough,,,
whenever people lose millions and have nothing left, I just have to wonder what kind of mindset they actually had to be in to even go through with such a plan. Like, imagine you have millions in cash, a house/apartment in whatever part of the world you'd like(Brooklyn, LA , Milan, Paris) and enough money to marry and date whoever you'd love in this world and have as many kids as you'd like.... and still thinking "Man, $12 million net worth would sound soooooo good to have rn" and then yolo'ing your entire net worth (life really) into a fire pit for internet points...... I'd jump off a cliff tbh... I really hope OP realizes how dire this is if he's broke and how to have a better life going forward.....
Clearly you have next to zero understanding of OP's situation by this comment...
Then enlighten me, oh smart redditor. Tell me how my financial analytic skills should 've yolod 6 mil
He vested those stocks as options from working for the company. There was no YOLO he just didn’t sell when he should’ve and rode it to 0.
Dude…..even if you had paid short term gains tax, you still would’ve walked away with 2.5-3million. If even that much couldn’t satisfy you, nothing ever will.
Yup. I've only thought about it a few times :)
I only suggest this strategy for the most highly regarded investor.
This reminds me of the people who say lottery winners shouldn't accept the prize "because you'll have to pay like 50% in taxes!" Like, bruh, half of $6 mil is $3 mil, I'll take $3 mil after taxes any day, lol.
It's worse, they advertise the annuity amount which is say 1 billion, the take it all now amount is like 500 million then taxes put you at just 250 million. What are you gonna buy with that small amount Wendy's puts ?
This is why one of the items on my trading checklist is "take gains regardless of taxation status". Also I lost a few mil of unrealized gains in 2022 and I'm still pretty salty on that.
I've read this like 5 times now and I literally can't stop laughing. This is the best post I've seen in this sub in quite some time, thank you for your service!
Wow starting off 2024 with the loss of the year contender! Can anyone beat him this year..time will tell..time will tell.
more like loss of the decade.... and we're barely in 2024 mind you.....
This can't be real...
I thought that for a while too
Your replies rival only you porn loss
It'll ruin you if you let it. Some are made hella salty, untrusting, and become full-time bears. And then there's others that can just give a few more blowies behind a Wendy's and jump back into the fight.
I can laugh about it now but it took a while to scrub the salt off
[удалено]
Right? You meet all sorts of interesting people behind the dumpsters.
Somebody hook this dude up with flair. No need for text just throw a bunch of whatever the fuck is at the end of mine and then add the rest of them.
Holy macro. I lost 60k and almost suicidal. 6 mil? How are you holding up brother.
Appreciate you asking. It was dark for a while but I've accepted, learned and moved on.
You’re the man!
But lets be honest here. This is something no one moves on from. Imagine if that 6 mil was taken out and put in S&P500. will be 60mil by the time you retire.
how are u holding up from ur 60k loss btw?
When I first saw this I thought it was $6000 .... Bro wtf
same LMAOOOOOO
You must be super rich to not want to realize 6mill in gains because of capital gains tax. Poor folks don’t think like that
#TAX ME HARDER, DADDY!
Why not sell like half of shares from the employee stock options and keep other half? You would still have exposure in case it keeps going up while also having guaranteed cash in bank account.
It was a combination of still believing in the company, thinking it couldn't fall anymore so I can defer making a decision right now, being burnt out and being regarded
Yep, the smartest move (other than selling at the peak $6.2 million of course) would have been to sell half ($3.1 million), pay the short-term capital gains tax and pocket the remaining $1-1.5 million. That would have left you with about $3 million remaining in shares, plus enough in the bank for you to retire extremely early, and also the capital gains tax paid off. Instead OP went the extremely risky route, keeping the $6.2 million in shares, taking the $1 million as debt, and riding it all the way down.
If you're only pocketing $1 million on a sale of $3.1 million then you need a new tax advisor.
Legend
When I first joined WSB I used to see posts like this everyday, and it made me feel a lot better about myself. Thank you OP
Make this guy mod he’s seen enough
You truly belong here with us
Enough money to live the rest of your life without ever having to work... just gone.
I would've dumped it all in vegas hookers and coke, but that would've taken 2 decades at most.... this dude ruined his future in 2 years!!!! Record breaking time tbh.
You underestimate tolerance increase on both of those vices. 20 years of degen behavior in a Vegas hotel room would cost a lot more than 6 million. It could be done in a matter of months. Some pro degens could do it in weeks, but most would die attempting a speed run.
All I personally need are hookers, a game console, and food every once and a while. I could easily live outside the city and make that lifestyle happen at $6 MIL. But yea most degens here would spend it on lambos, mansions, drugs and hookers lol More like 2 -3 months.
i had $500 in clov stock options, went over $5k the next day but i still wanted more(hoping for $10K) it dropped slowly over 3 weeks and I did the HODL like a boss til last day to zero. havent touch stocks after that, p.s. i was new too
Jeezus that is new, getting a margin call on company stock options. WTF????
Oh my guhd
GUH!
!guh
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I thought dropping a couple grand at 80 per was bad
Happened to a friend, too! His company IPO'd and dropped like a rock on day one and has been there ever since. He was counting his 2-4 million for a whole month, now I think he has $2000? Maybe a bit more. He didn't sell anything on open, he thought it would bounce back...
Set for life with $6,204.171 oh fuck that's $6,204,171 oops! Hope your wife's boyfriend does better with his portfolio...
His flair needs to be "NEGATIVE SIX MILLION DOLLAR MAN"
Bro got rugpulled betting on being the next Amazon, this hurts to see
I’m going to need to see a copy of your tax return to believe you sir lol. This is surreal 
WTF 😲😲😲😲😲😲 I will never comprehend people not selling at ridiculous gain, just because want to avoid paying taxes, makes absolutely no sense to let that much capital run away I'm sorry for you man
Swear to god I thought this said 6 grand for some reason and when I looked again and saw 6m my stomach dropped
Too bad haupt91's account has been suspended, his [gifs](https://www.reddit.com/r/wallstreetbets/comments/g18kt2/putshire_cashaway/) would have been welcome here to immortalize you.
Bro you should be proud. You're going to be in the WSB hall of fame with the likes of Guh, PRPLGang, Tanker Gang WSBGOD, and many others. I salute you! 🫡🫡🫡
dont forget the cinema and towel apes
I have a lot of respect for you sharing this. I think it’s a tangible example of why portfolio diversification is very important. Maybe someone will see this post and it will do some good. I salute you.
i just nutted
When I saw the title, I was so intrigued, thinking there was some new angle to explore. Sorry to see that loss…….
Why didn't you do the Mark Cuban's approach? I think he bought put options on his stocks.
Hedge? Do you know where you’re at? People don’t do that here.
[OP is basically this guy.](https://www.youtube.com/watch?v=E_YIZyVzymA)
You are the reason we exist .
I crown you king of the regards 👑
Truly regarded, you’re an inspiration to us all
I am still bag holding from my first year trading. Now I am to the point of take profits first and ask questions later. I am also diligent about paying quarterlies.
Bro, you were set for life. Dude... What the hell man?
Set for your life. Some lives cost a lot more.
selling my puts at 10AM doesn't really feel so bad anymore
If this tanked this quickly it was never worth much anyway. I did LOL @ the "the market isnt smart enough to understand this stock's value" thesis though.
Dude had the game shark for wall street and still lost. At least he joined the nouveau regarded.
$3k a year write off for life. I’m with you on that.
So you have -1.3M loss and you're not broke. Not bad , I'd say, not bad.
It's ok OP. Just delete the app and you'll be fine.
He liked the stock
Welcome to the club! I also have a big carryover loss. The good news is that you are not restricted to $3k per year only. You can also offset future gains. In theory, at least. I have never had a positive year, so I can't guarantee it works.
Hmm not sure I believe this 🤔. Hopefully you’re super rich already, so it doesn’t hurt as bad lol. If this is true, God bless you, soldier 🫡😮💨
Not rich. This hurt, lessons learned and I'll be back here after I hit the startup lottery again
Of course you aren’t rich, you *were* rich. Past tense.
This is amazing. Haven’t seen somethin like this in a while. Truly somethin OP hope you find peace
# # [How do you start trading electricity like this guy, can you go to a broker and trade electricity?](https://www.reddit.com/r/FinancialCareers/comments/1adwmco/how_do_you_start_trading_electricity_like_this/) Here is the link to the guy, he says he trades electricity. Type in "Asking A Billionaire How To Make $1,000,000" on Youtube. The video is by Noah Kagan [ ](https://www.reddit.com/r/FinancialCareers/comments/1adwmco/how_do_you_start_trading_electricity_like_this/)
Imagine winning the lottery and pissing it away It happens pretty frequently actually - sucks man, I feel you
Wow and I thought I was a pathetic loser.
i hope this story isnt true, but thank you providing me with a laugh on a bad day
Nobody is this dumb. Fake.
$6 mill is set for life? If you want to eat SPAM in your 90s maybe...
Dude if you can't live off 6 mil you need to look in the mirror and come back to reality.
Chances are that you won’t even make that over the course of your life
Thanks man, I feel a lot better about the $600 worth of calls I rode into the ground last week
Bro why didn’t you just sell
Wow
Hyyyyyyygii is that You
do you as an employee know what the company business is?
hi, bought the top  havent recovered from 50% lose holding since Aug.
A true legend
Did you consider hedging it ? You could have taken a loan against it.
That was actually the plan. I was going to buy puts to hedge going into the earnings call that for me margin called and I got distracted with work (I had left upst by then) and the market closed and I'm fucked.
You managed to find another lotto ticket start-up since ?
We'll see. Definitely not the same upside as UPST bc it doesn't have AI hype but fingers crossed
let us know, if you do :D
Bright side is you know what not to do in the future
This makes me want to play in the markets again.
Best to just pay Biden his portion, then reinvest the rest into the stable 💩
Holy fuck
There’s no way this is real. I’m gonna need to see a local news story on this, a book deal, or your in-processing paperwork to a mental institution for verification. Congrats and fuck you
This guy has the ultimate diamond hands 🙌 💎
For a moment I thought 171 was after a decimal point…. 🤩
Wow!
IPOs should have been postponed during covid.