I'm a little top-heavy on this stock as it currently represents more than 25% of my "play" account, but it's nothing like the position that Canadian Christopher DeVocht managed to achieve before things took a turn for the worse.
Christopher DeVocht, a carpenter by day, successfully traded Tesla stock and options during the COVID-19 pandemic, when a record amount of stimulus helped stocks soar and drove a retail-trading boom.$65k to $306m to zero is quite an emotional roller-coaster. One commenter stated that:
At the end of 2019, DeVocht had C$88,000, or about $65,000, with the Royal Bank of Canada's brokerage division. At its peak in November 2021, according to the lawsuit, DeVocht's account grew to C$415 million, or about $306 million.
But DeVocht and his professional advisors didn't cash out and instead lost everything as a brutal bear market took hold in 2022, leading to staggering losses for his heavily concentrated portfolio.
Yeah I would never have made $300M. As soon as I hit $10M, I would have cashed out, set up an annuity or plopped it all into index funds and went fishing and mountain biking the rest of my life.
Easier said than done. While I'm a big fan of index funds and cycling, fishing - not so much, I suspect many people would struggle to call it quits on reaching $10M especially if that number is reached rapidly. It would be a nice problem to have, but very easy for that market driver of greed to take over.
With Kiké Hernández hitting a Home Run for the Los Angeles Dodgers as they eliminated the San Diego Padres last night, presumably while wearing his extra tight pants, and Elon Musk talking about car parks at the Tesla Robotaxi unveiling yesterday, I'd be missing a great opportunity if I didn't mention this post from a couple of years ago which addresses both car parks (Bromley Sainsbury's specifically) and baseball pant tightness.
Sports Betting Odds: The Key to Winning 2024
ReplyDeleteThe Importance of Real-Time Odds
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Reacting to Market Trends
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Stay Ahead with Real-Time Odds
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