/biz/ - Business & Finance

>>16126040
It isn't debt.

>>16126040
la creatura...

Has he ruined his life?

>>16126061
He got liquidated right. So what would he be liable for other than losing his own 2,000?

>>16126040
fucking moron

>>16126070
you are liable. you agree to it when you sign up

Why is it that when someone loses a lot of money gambling on the stock market, the popular media have a field day, but when someone loses money gambling in a casino, no one cares? It's literally the same thing.

>>16126040
why didn't he say anything? la puta

>>16126132
Because it's funny? Profiting off investments makes people feel much more smug than gambling in a casino. So when reality puts them down it's much funnier to witness. A gambler losing in the casino just has to cope with lady luck leaving his side, a gambler losing in the financial tools market has to cope with his lackluster intelligence, his whole inadequate existence.

from a comment in reddit
Unless he signed some kind of promissory note with RH to open up a line of credit or something similar, that's not how option accounts usually work. If he found some bug in the system, so be it, RH can't force him to pay anything. Without a note or credit line, RH can't do anything. Even with a note or credit line, RH still has a long road ahead of them of trying to sue and attempting garnishments.

Collections are not simple, are not easy, and are certainly not fun. The most straightforward loans to collect are collateralized loans, where you simply seize the collateral. And even that can take a lot of time and several thousand in legal fees.

Pretty sure he puts in $2000 and gets another $2000 on margin from RobinHood. He buys AMD stock and then gets the money mostly back by selling calls. Then RobinHood fucks up and doesn't recognize the $4000 or so he has is half from the margin. So he gets RobinHood to give him $4000 on margin this time. He continues buying stock, selling calls, and then getting more on margin until he has $60,000 ish. I think he then puts all of that into puts on Apple stock. If he wins, he'd have a shit ton of money and if he loses the puts are worthless (which is what happened). Please correct me where I'm wrong because I know my understanding wasn't perfect.

you guys are losers to laugh at this guy, he is going to gun down so many spics in walmart tomorrow.

>>16126040
This will be stinkies upon the day of reckoning

Turning 250k into 0$ for clout and 40k live viewers is so much more satisfying to watch though.

https://youtu.be/yFGX8e0IsPQ

>>16126117
So what amount is he liable to pay back and to whom? I was under the impression that he lost his principle investment and nothing else is owed

>lost $40k
people stress over this? lost half a mil by using a shitty exchange with shitty customer suport

>>16126146
Something so harshly poetic about this.

>>16126344
teach me anon

>>16126344
If you watch the video, he's lost 100k in total from previous bets. 50k happened during that video

>>16126348
dont use exchanges with chinese customer support (kucoin in my case)

>>16126067
kekd

>>16126146
He used 25x leverage retard, that's basically gambling.

>>16126359
well shit, im using them for chz. mind sharing your story and what you use now?

>>16126381
not trading actively as I had enough. all-in link for almost 2 years now

>>16126318
I could see /biz/ wojak manifest in place of the mask

>>16126344
you didn't lose the money you just lost potential gain. going into negative territory is harder than losing out on potential gain retard.

>>16126441
>want to sell
>cant
not potential

>>16126439

Thought I posted the full Vid which is even better. I was there dying when it happens. Glorious

https://youtu.be/kBYSlI7PZWY

>>16126503
kino

>>16126225
kek

What happened?

Hyper leverage and market open gap?

>>16126318
>>16126503
most likely a demo account, i call it fake
>>16126040
he's a redditor. the average biztard is too dumb to do a x25 leverage with robinhood

>>16126922
yep he gambled on options

>>16126503
not even once

>>16126929

classic biz

>>16126925

If its fake that's some great acting though.
He was on call with Shrekli before that.

https://www.youtube.com/watch?v=Uq3znrZy-cM

Say what you want about arthur and bitmex

At least you can't lose more then you put in.

>>16126993
Except when someone cracks your account from all of the leaked emails and steals your BTC.

>>16126991
damn its possible it's real, guy is mentally ill

>>16127008
>hacker defies logic and reason by using leaked emails to make your make your bitmex account somehow go negative
Absolutely based I say

>>16126503
>>16126991
>>16127094
https://www.youtube.com/watch?v=kBYSlI7PZWY
at 03:00, the guy is a degenerate furry. yeah it looks real the guy is ill and already lost more than 1M of his inheritence.

>>16126503
extremely enjoyable to see shorters get burned like this.

>>16126336
you owe it to the broker, it happens all the time in stocks

more vids like this please

Crabs in a bucket mentality instead of improving one's lot.

>>16126336
>these are the people giving you financial advice on biz

https://youtu.be/A-tNkuYV4_Q?t=42

0:42
you can hear his soul coming out of the body

>>16126344
Whoa we got a big shot here

This video is so quiet yet so intense. Where do i even start? that JUST face, the werid noises he makes, the fact he just lost 50k
kek

>>16127489
>0:42
>you can hear his soul coming out of the body
<>;-)

>>16126040
>driving and trading

>>16126318
this is obviously fake
isnt that a herman miller anyway?

so either way who cares

>>16126336
>if you borrow money you don't have to pay it back
Good lord are you retarded?

>gambling
i hope retards like this loose all their money

>>16126040
I love it when spics suffer.

Isn’t this the guy that found a bug with the margins which is why he was able to have such insane leverage? He only put up 2k so it isn’t like he actually lost whatever they say he did.

Feel bad for the pleb honestly.

Doesn't look that bright and he just royally just'd himself into losing man years of savings he probably doesn't even have.

>>16127648
that's what i thought but after listening to the conversation with shkreli i'm not so sure anymore. the guy sounds like he really has a gambling addiction. he already lost 2.2M of his inheritence. typical gambling addict. >>16126991

>>16127855
>He only put up 2k so it isn’t like he actually lost whatever they say he did.
t. retard who doesn't understand naked options.
He only put 2k but he owes 50k to the broker.

>>16127489
Haven't laughed like that in a very long time

>>16126225
From wallstreet to walmart: the story of anon

>>16126318

Fucking furries man

>>16126318
>>16126040
any more vids like these? Quite entertaining

>>16126336
To the party who borrowed you money. I.e. broker or exchange. Do you even realize what leverage trading is?
I hope you stay away from derivatives for your own sake.

>>16127995
https://www.youtube.com/watch?v=VNYNMM0hXXY
we dont see him losing live but this motherfucker and his fake tears.. his clients not only lost all the money they gave him but owed the broker more money.

>>16126132
>>16126146
nah what he's saying is they are about equal as far as their legitimacy except one is for light entertainment and the other is a global system of human capital management and everyone is supposed to think that's ok.

GUH

>>16126070
Are you fucking kidding me

>>16126993
Are you actually retarded? Take out a loan and lose it in bitmex and congrats you now have negative equity

>>16127923
Yeah except it was a bug and rh should have never allowed him to enter such a leveraged position. They are just going to eat the cost like the last time someone found a bug and entered 200k positions on 5k collateral.

This is why you just buy and hodl

>>16128239
yeah the risk management team at rh are retards. with a lawyer he should be able to cancel it but he doesn't have the money for a lawyer anyway.

>>16126318
This was a confirmed fake and a furfag shilling his sick and twisted fetish.

>>16128269
My understanding of it is that for some reason rh let him use his margins to essentially buy more collateral to repeat the process over and over again to increase his leverage for free. But what do I know, I’m just a retard according to that other anon.

>>16127489

>>16126040
>/biz/ poster turns $2,000 into $50,000
oh wow
>of debt
that's more like it
>within minutes
NOW WE'RE TALKING

>>16126070

are you retarded, dude?

If you lose margin money you still need to pay back

>>16127489
GUH

>>16126040
shouldve just bought Chainlink

>>16128236
Idiot

>>16128068
This has to be the most awkwardly scripted video i have ever seen he tries to beat around the bush as long as he can because you can just tell he is GENUINELY terrified that his family might want to kill him. this is amazing

>>16126439
what does he say there at 10:49? I got my ponies?

>>16126117
>>16128206
>>16128511
obviously he's just confused because he thinks it works like BitMEX. relax, faggots.

>>16126040
i dont understand on bitmex you just lose what you put in, how is this diffrend why does he owe more, inb4 brainlett i dont trade futures

>>16127151

You can buy passwords online and people usually have multiple exchange accounts often with the same email

>>16126040
Why is always meme Android users who are sure that Apple is going to crash lul

>>16126040
What expression he's trying to convey?

>>16128930
reGUHret

>>16128930
americanism

>>16127489

>>16126068
Basically

>>16126336
I was under this impression too, but I think that's how it works with crypto exchanges cause our bank accounts aren't linked. So if we put 1BTC and do 25x leverage, they can't take any more than our 1BTC (a 4% drop/rise) whereas with stocks they just put you into debt? Someone explain boomer stocks to me.

>>16126922
25x leverage, not even fucking once

fucking biz is recycling pebbit content now. the absolute state of this board

>>16128549
WOOP WOOP

>>16129094
How do you know that...unless you also go to Reddit...

>>16129119
>guy loses it all trading options
>options
definitely not from here unless people do that on smg (never been there)

>>16129165
I used to check out smg often. Stopped. Lost several thousands in options.

>>16129042
on the stock market leverage is basically a loan you're taking, yes. you owe all the money you leverage.

>>16126503
real action at 11:00

>>16126040
the best part is his dentist haircut

>>16127370
it's like he doesn't know how retarded he is.

>>16129078
The official music video is out.

https://www.youtube.com/watch?v=rASpieLvH7c

fake and gay

>>16129042

The absolute state of boomer stocks

>>16129465
the guy is also an incel alt righter kek, he really hit the full house of autism there

don't fuck with the apple

he's lucky it didn't happen in an actual casino, somebody would have broke his legs

This is a perfect example of late stage capitalism.

>>16129042
Boomer stock leverage is an actual loan with interest. It's not BitMEX.

>>16128127
But they aren't the same. Only a retard that's never going to make it would think this.

Besides people do make fun of retards who lose all their money thinking they can make millions in a casino.

The determining factor of getting made fun of is how much money you lost in how short a time frame. Losing 50 dollars a week isn't very funny. Losing 50k in 1 day is hilarious.

>>16127489
>>16126040
Just what the fuck he basically do exactly?

>>16130045
shorted apple upon earnings paper release

>>16130071
Fuck. That could have been me with AMD if I had more balls. Only it would have been 20k turning into 500k in debt.

>>16126318
Kék. Writing options is stupid as fuck. See him after market futures rise probably sold a shitload of calls during news or so. He deserved it for being stupid.

>>16126399
Nice explaination you fucking stupid kike

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

>>16126040
>GUH

>>16126318
I had calls that day. It was very fun to watch, but obviously fake. The guy is a super troll, fscomeau. He made a patreon and a bunch of dumb ebooks. Don't know if he's still out there.

How come apple stocks were falling this quickly?

>Remember me /biz/?

>https://www.youtube.com/watch?v=VNYNMM0hXXY

https://steadyoptions.com/articles/james-cordier-another-options-selling-firm-goes-bust-r429/

>>16126040
It's closer to a $100k debt. Buddy should just ignore it or declare bankruptcy.

>>16127180
That was intense. Especially @ 11:30

>>16130045
>>16130071
It looks like he actually went all in on Put contracts...

>>16130642
They weren't - he was gambling that they would

>>16126225

kekk

>>16130866
> those hips

That's the worst photoshop I've seen in a while.

>>16128239
except his posts where he realized what he was doing are public.

>>16131308
RH broke FINRA rules. The best thing they could do is eat the loss and close the loophole.

>>16128851
If you own 100 shares of a stock you can sell it. He bought amd, sold a call and took the cash. So if you get paid 1k in cash you get 2k to play with. So he did this to increase his leverage as much as he wanted. So he tricked rh into giving him more money on margin then he should have had when he should only have like 2k of margin.

>>16131540
*you can sell calls

>>16129754
hahahaha why would any asshole do this when you can just do it with crypto and simply lose your initial investment? KEK
IMAGINE HAVING YOUR ACCOUNT LINKED AND HAVING TO ACTUALLY PAY SOMEONE BACK!!?!?!
AHAHAHHAHAHA

>>16126162

They just sell the debt for 10 to 15 cents on the dollar to collection agencies who'll hound him.

Then if they can't get it they'll sell it for 2 to 5 cents on the dollar to the extreme debt people who'll source it out to scum. Stage 2 here is where you csn get 1% bikie gangs showing up at your place asking for 5k

F

HES A FUCKING REDDITOR YOU SHITASS BAITING ASSHOLE

He is not a biz poster

>>16126991
>17:10
>and I paid every one of them back
LOL

>>16132152
this
i put this video in a thread yesterday saying "i dont recommend leverage" and faggot op thought it was me

>>16126991
2 seconds in and he is dogging on someone putting their life savings in Apple. Not such a bad idea now huh?

>>16126040
This guy looks so depressed, my goodness. There is zero life in those eyes.

>>16126503
When a furry gets a 2.5 MILLION dollar inheritance and instead of putting it in gold silver and bitcoin he gambles it on call options.

Furry trannies get what they deserve!

>>16128236
Taking out a loan always gives you negative equity, Bitmex has nothing to do with it lol.

>>16133261
he was putting his life savings on apple PUTS, dude, not apple stock. Big yikes.

>>16130642
he was effectively on 100x leverage

>>16126040
Serious question is there a name for this strategy? You could do this on any other trading platform, no?

>>16130642
It's amazing how clueless crypto fags are.

>>16126061
>>16126070
>>16128511
>>16126117
He lost 45k of value on a 60k position. He was using around 2k with 25x leverage. He got rekt but he doesn't get a margin call until that 10k position value at the top goes to zero. Plus robinhood automatically deleverages these kinds of positions to keep gamblers like him from going in to debt they can't pay

>>16133520
Welcome to /biz/

>>16133608
thanks fren I converted to /smg/ awhile ago but its fun to come see what the crypto kids are doing from time to time.

>>16133636
the stock market is for grandpas and gamblers

>>16132960
fucking savage holy kek

>>16126162
You literally have to sign those contracts to open a margin account. Reddit is fucking retarded

>>16132960
>I then use my increased buying power to maximize my gains.
>maximize my gains.

>>16127094
>>16127180
>>16127344

It was confirmed he was paper trading

>>16126040
i was on a trading discord with a guy who got liquidated for at least a million dollars

we told him to stop and lower leverage but as usual this guy was manic from all the adderall he was on and wouldn't listen

after he got liquidated he disappeared forever

i didn't find it funny, just a sad waste

>>16127923
You are the retard, he didn’t write the contracts. He used a bug in the margin system that treats assets bought on collaterall as additional assets and gives you more purchasing power. He bought puts, he didn’t write any contracts.

>>16133888
checked and cried

>>16133552
This isn’t correct. He isn’t getting a margin call because RH’s margin system is bugged and thinks that the contracts he bought on margin are his assets. It credits the user with the position but doesn’t balance the book with a debit, effectively meaning someone could’ve abused this to a billion dollar + position. Robinhood doesn’t allow anywhere close to 25x leverage and sure as shit this dumbass lost more than he could pay.

>>16126250
pretty much

>>16132960
Based but the posts where he talks about looking to invest in companies that don’t have women, and the “socialization” of sex are much cringier and add many luls.

But those posts where he talks about how many children he has... fucking yikes