Ahh the holidays. The perfect time to gloat to your extended family about things they have no idea about. Especially a great time to brag about how much money you’ve been making playing the small caps. Few thousand here, couple of hundred there, you’re a smooth operator. Good thing your relatives haven’t the slightest clue about what you’re talking about. So they are in awe of any horse shit you feed them.
Like a good son I took flowers to my mother today. While I was there she told me a quick story about this 23 year old guy, who I guess is my step dad’s new wife’s son or some other non relevant garbage. So this guy was telling his mom about the boatloads of money he made the other day trading a stock. He had bought at $2 and sold at $43. Now the moment this was said I already knew what stock this guy was talking about. Everyone’s favorite showgirl, KBIO. The guy supposedly banked $300k on this trade…more details more details!! From what I have gathered he had no clue that he made this much money. He was trading from his cell phone, which had a shattered screen. So he rather blindly sold what he had and made a mere $300k. Ya know if this is true then good for him. I will be an extremely jealous man, but my instincts tell me that it’s pure bullshit.
“Everyone” on Twitter bought KBIO at $2 after the first initial run and sold it near the top around $43. Who better to brag about this to then people who don’t know enough to call you out on it. I like to think that anyone experienced enough would not go long at $2 until they saw a bit more oomph behind it. I can understand why that guy who lost his shirt shorting KBIO went short, it made sense.
In my own personal opinion, the traders that are making solid money are the ones not talking about how much money they make. They are simply giving their opinions, posting entries and exits, maybe some of their trading wisdom and faults every now and again. The ones bragging about what they’ve done haven’t done jack shit. I don’t like talking about the money I make, especially to family members. They can be the biggest mooches of all.
Or maybe this guy is one of Martin Shkreli’s childhood best friends.
Have they even started looking for insider trading yet?
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a miracle home run being confused for being a good trader is the kiss of death and will ultimately bankrupt him.