Skip to main content
No. of Recommendations: 0
Lake,

As always, there are many ways to view her story. My bet is she won't learn he lessons she needs to her losses. .

Me? No drawdowns? You gotta f*ckin' be kidding. Cumulatively, over the years, --37.5 to be exact of trying to pull money out of markets-- I've lost more than she has, and on some positions it was 100%, as when a company went BK and the workout yielded nothing. But if the position was just 0.25% of AUM and the expected failure rate of the tranche was 55%, but payoffs were asymmetrical such that the game offered a positive-expectancy, then those losses were just the cost of doing business.

That's where she screwed up. She over-bet her hand, both in terms of asset-class and position size. Yeah, she was encouraged to do so by the scammers who host this website. But the ultimate fault is her own, and until she masters the wisdom offered in such classic texts as Graham's, The Intelligent Investor, she won't turn herself around.

What's the diff between 'investing' and 'gambling'? Nada. Zip. Zilch. Both are an attempt to turn a profit from making predictions about the outcome of unknowable future events. Some investing games have a positive expectancy. Some don't. You gotta know which is which and when to walk away from the tables in the equity casinos. https://www.youtube.com/watch?v=7hx4gdlfamo

Arindam
Print the post  

Announcements

When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.