How a Hedge Fund Pulverized 87% Of Investors’ Equity — An Alert For You
Obliterated lifetime savings: a tragic story that is becoming too common
Have you ever heard the expression YOLO? If you are over 35 years old, there is a good chance that you have no idea what that means, but it is an acronym for You Only Live Once.
Even though I’m not 35, I didn’t know this either until I saw on some obscure Reddit forum that young investors (and I mean REALLY young, some of them still in their teens) were using that slang to talk about risky, stupid financial moves that could put their entire savings at risk in a single afternoon.
Why do they do that? Just for the thrill, I think. It is like buying a lottery ticket, but more expensive.
Also, FOMO (fear of missing out) plays a big role in all that, since a small share of those operations are successful and they generate more buzz than all the losing operations put together. Since nobody wants to miss the next stock or option that will go to the moon, they end up investing in whatever cr*p most of the group puts their money in.
But this article is not about some redditors. No, no, no.
It is about a hedge fund manager.
