It’s all just a little joke. Check out https://www.reddit.com/r/wallstreetbets. Also https://m.youtube.com/watch?v=jg85H26wyLk
She certainly earned her sentence, and I have no sympathy for her. But isn’t it hard not to be at least a little impressed with the sheer scale of her losses? Getting in the record books for “most money lost by a single individual” is a hard thing to do in general.
We don't share the same concept of humor then.
Super funny to every single person who lost money to the person "getting in the record books for 'most money lost by a single individual'".
/s
Most don't want to talk about it now since it's embarrassing but look at the trading firms with writes down of 50% or more.
For small timers, they are just under reported like with Luna, there are probably a fair amount of suicides, but govts don't reveal details to avoid emotional group contagion
Let's get real here, there was no "due diligence" or anything else that should have been done when you are investing hard-earned money.
I laughed.
As of December 2022, Son ranks 67th on the Forbes list of The World's Billionaires 2022,[10] despite having the distinction of losing the most money in history (approximately $70bn during the dot com crash of 2000).[11]
That’s $121b inflation adjusted
Putin would beat that easily if you add lossess to business and business opportunities lost
Kind of assumes markets yield truth when left alone. It's equally true that a small but well-coordinated swarm can shape market behavior when directed at the right target, even if the swarm's activity is not correlated with anything like underlying asset value or earnings.
I am not a fan of WallStreetBets but I don't think of them as idiots; more that they're making the argument (by demonstration) that their open and shameless manipulations are just a less polite version of what already happens behind the respectable facade of financial institutions staffed by well-credentialed traders in nice suits. Having spent a lot of time around trading desks (from tiny funds to private banks) I don't think they're wholly wrong. Although they epitomize the greatest weaknesses of crowd/swarm behavior as well its strengths, they are typically playing with their own money rather than collecting 2% to do the same thing with client funds.
Which is silly, markets don’t exist when left alone.
She's a freak in a freak show. The praise is ironic.
You are missing the point of subreddits like this.
The whole point is to laugh at the crazy, insane trades that people make.
And I'd say that this situation tops the charts for most wild, interesting, and funny failures of the financial world.
in prison