Man turns $88K into $415M with Tesla, then sues after losing it all

I bought AMZN on opening day at $16 -- the IPO price was $18.

I sold it two weeks later for $32. I doubled my money. I am a genius.

(Incidentally, I also bought TSLA just after IPO, and still have it. I'm getting out of it, but just can't bear the idea of a six-figure tax bill. Originally, that was to re-balance my portfolio, but now I just hate having my future tightly linked to a raging asshat.)

/never confuse genius with a bull market

The trouble is, “the best”, as in the most competent, will say “this is the long-term percentage growth that you can achieve safely and legally” (realistically, this isn’t going to be much different to the S&P500). And a certain variety of stupid rich person will either go “Not good enough, I can do better on my own” (and do stupid day trading), or go “Mr Madoff over there will do twice that” (investors in Madoff’s scheme and similar scams were, by and large, well off, but unsophisticated investors).

In the case in the news article, DeVocht won the lottery, and then based his wealth management plan on winning the lottery again, repeatedly.

right, because you have the gift of hindsight. someone could have said the same at $1 million