Re:Facebook Reports First Quarter 2021 Results [pdf]
by ericjang on Thursday May 06, 2021 @07:55PM
(#27070321)
I don't know of role-model investors / traders who amassed a fortune in a short amount of time, starting from a small amount of capital, without borrowing money. There are of course cases like /u/DeepFuckingValue turning a few hundred grand into tens of millions with his massively bullish GME position, but in general, taking this much risk on almost guarantees that you are blow up in a few years.
I agree with Shkreli: if you want to "amass a fortune in a short amount of time" AND do so without taking on an unreasonable level of risk, then doing so with cheap cost-of-capital (e.g. investing friends&family wealth, using insurance float, gift cards) is the way to go.
But "making 10s of millions quickly" is a different statement than "active trading is not worth the effort".
I agree with Shkreli: if you want to "amass a fortune in a short amount of time" AND do so without taking on an unreasonable level of risk, then doing so with cheap cost-of-capital (e.g. investing friends&family wealth, using insurance float, gift cards) is the way to go.
But "making 10s of millions quickly" is a different statement than "active trading is not worth the effort".