FARK.com: (12518214) Wanna bet he's got an *incredibly* punchable face? And why not, he can afford it now

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		Wanna bet he's got an incredibly punchable face? And why not, he can afford it now (marketwatch.com)		25
		More: Spiffy, U.S. Securities and Exchange Commission, Stock market, Jake Freeman, Bed Bath & Beyond, Bond, Finance, Implied volatility, Stock

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1363 clicks; posted to Business » on 18 Aug 2022 at 8:52 AM (14 weeks ago) | Favorite | share:

25 Comments (+0 »)

View Voting Results: Smartest and Funniest

HugeMistake

2022-08-18 8:32:10 AM

And he did it entirely with his own hard work and initiative, plus just a small $25M in starting capital from family and friends.

adamgreeney

2022-08-18 8:43:31 AM

HugeMistake: And he did it entirely with his own hard work and initiative, plus just a small $25M in starting capital from family and friends.

Aaaaand done.

Tr0mBoNe

2022-08-18 8:47:43 AM

HugeMistake: And he did it entirely with his own hard work and initiative, plus just a small $25M in starting capital from family and friends.

Gubbo

2022-08-18 8:54:44 AM

HugeMistake: And he did it entirely with his own hard work and initiative, plus just a small $25M in starting capital from family and friends.

And some market manipulation

BizarreMan

2022-08-18 8:58:12 AM

I hate stories like this because people read the first little bit about how this 20 year old kid made millions and think "hey, he did it, I can too!". Except when you get in to the weeds, he just got damn lucky and could have easily completely lost his initial investment.

Professor Horatio Hufnagel

2022-08-18 9:18:20 AM

How much of an insane, psycho, filthy stinking superrich chode do you have to be to give a twenty year old douchebro $25 million to blow on a god damn meme stock? I just woke up and I'm immediately reminded that I don't wanna live on this planet anymore.

I need to go hug my daughter.

dustman81

2022-08-18 9:21:20 AM

BizarreMan: I hate stories like this because people read the first little bit about how this 20 year old kid made millions and think "hey, he did it, I can too!". Except when you get in to the weeds, he just got damn lucky and could have easily completely lost his initial investment.

Also being pulled out of the right crotch and having connections through the hedge fund he interned at previously. Because buying a 6.2% stake in BBBY, worth $25 million, is totally possible for Joe Six-Pack.

anti-riaa

2022-08-18 9:22:30 AM

Professor Horatio Hufnagel: How much of an insane, psycho, filthy stinking superrich chode do you have to be to give a twenty year old douchebro $25 million to blow on a god damn meme stock? I just woke up and I'm immediately reminded that I don't wanna live on this planet anymore.

I need to go hug my daughter.

100% agree with you. I hate capitalism this country evolved into.

Bovine Diarrhea Virus

2022-08-18 9:43:15 AM

Why does this bother you? Don't you think you're being a tad bit sensitive? The guy made a fortune by getting lucky. Who cares? There are worse atrocities in the world. If I had the chance to parlay some money into millions in the stock market and get out of my sh*tty career, I wouldn't think twice.

dustman81

2022-08-18 9:49:45 AM

Bovine Diarrhea Virus: Professor Horatio Hufnagel: How much of an insane, psycho, filthy stinking superrich chode do you have to be to give a twenty year old douchebro $25 million to blow on a god damn meme stock? I just woke up and I'm immediately reminded that I don't wanna live on this planet anymore.

I need to go hug my daughter.

Why does this bother you? Don't you think you're being a tad bit sensitive? The guy made a fortune by getting lucky. Who cares? There are worse atrocities in the world. If I had the chance to parlay some money into millions in the stock market and get out of my sh*tty career, I wouldn't think twice.

He started with $25 million, more money than most people will ever see in their lifetimes. Money he raised through friends and family connections, meaning he had friends and family that had $25 million just sitting around.

Fano

2022-08-18 9:58:16 AM

dustman81: Bovine Diarrhea Virus: Professor Horatio Hufnagel: How much of an insane, psycho, filthy stinking superrich chode do you have to be to give a twenty year old douchebro $25 million to blow on a god damn meme stock? I just woke up and I'm immediately reminded that I don't wanna live on this planet anymore.

I need to go hug my daughter.

Why does this bother you? Don't you think you're being a tad bit sensitive? The guy made a fortune by getting lucky. Who cares? There are worse atrocities in the world. If I had the chance to parlay some money into millions in the stock market and get out of my sh*tty career, I wouldn't think twice.

He started with $25 million, more money than most people will ever see in their lifetimes. Money he raised through friends and family connections, meaning he had friends and family that had $25 million just sitting around.

Maybe he was a George Bailey with 25 million friends that gave a dollar each

Rapmaster2000

2022-08-18 10:06:40 AM

He's lucky. I'm envious that he has wealthy relatives, but I'm not mad about it. I don't see how that's a tragedy.

Bovine Diarrhea Virus

2022-08-18 10:15:18 AM

And? There are plenty of people in this world that have bigger bank accounts than I do, and can make even more money. Life is a b*tch. But I don't feel the need to go hug my cat in despair over it. I just live my life to the best of my ability and try not to worry about how the ultra-wealthy live. Jealousy is not healthy.

dustman81

2022-08-18 10:22:51 AM

Bovine Diarrhea Virus: dustman81: Bovine Diarrhea Virus: Professor Horatio Hufnagel: How much of an insane, psycho, filthy stinking superrich chode do you have to be to give a twenty year old douchebro $25 million to blow on a god damn meme stock? I just woke up and I'm immediately reminded that I don't wanna live on this planet anymore.

I need to go hug my daughter.

Why does this bother you? Don't you think you're being a tad bit sensitive? The guy made a fortune by getting lucky. Who cares? There are worse atrocities in the world. If I had the chance to parlay some money into millions in the stock market and get out of my sh*tty career, I wouldn't think twice.

He started with $25 million, more money than most people will ever see in their lifetimes. Money he raised through friends and family connections, meaning he had friends and family that had $25 million just sitting around.

And? There are plenty of people in this world that have bigger bank accounts than I do, and can make even more money. Life is a b*tch. But I don't feel the need to go hug my cat in despair over it. I just live my life to the best of my ability and try not to worry about how the ultra-wealthy live. Jealousy is not healthy.

This isn't jealousy or envy. It's pointing out that someone with more money and connections that you will ever have bet on a meme stock and "made" more money than you'd ever see in ten lifetimes, then MarketWatch touting him as "see if he can do it, so can you." It's as bad as the Make It articles on CNBC.

Rapmaster2000

2022-08-18 10:31:05 AM

dustman81: Bovine Diarrhea Virus: dustman81: Bovine Diarrhea Virus: Professor Horatio Hufnagel: How much of an insane, psycho, filthy stinking superrich chode do you have to be to give a twenty year old douchebro $25 million to blow on a god damn meme stock? I just woke up and I'm immediately reminded that I don't wanna live on this planet anymore.

I need to go hug my daughter.

Why does this bother you? Don't you think you're being a tad bit sensitive? The guy made a fortune by getting lucky. Who cares? There are worse atrocities in the world. If I had the chance to parlay some money into millions in the stock market and get out of my sh*tty career, I wouldn't think twice.

He started with $25 million, more money than most people will ever see in their lifetimes. Money he raised through friends and family connections, meaning he had friends and family that had $25 million just sitting around.

And? There are plenty of people in this world that have bigger bank accounts than I do, and can make even more money. Life is a b*tch. But I don't feel the need to go hug my cat in despair over it. I just live my life to the best of my ability and try not to worry about how the ultra-wealthy live. Jealousy is not healthy.

This isn't jealousy or envy. It's pointing out that someone with more money and connections that you will ever have bet on a meme stock and "made" more money than you'd ever see in ten lifetimes, then MarketWatch touting him as "see if he can do it, so can you." It's as bad as the Make It articles on CNBC.

Sure, that's pretty stupid. I enjoy the CNBC young millionaires articles which are all advertisements for FIRE bloggers/podcasters, real estate seminars, and stock picking services.

FormlessOne

2022-08-18 10:35:03 AM

In other news, the rich happily keep manufacturing wealth for their next generation by leveraging the wealth that they made from leveraging the wealth of "family and friends" made last generation.

The game's rigged, and you're not in on it.

Rapmaster2000: I don't see how that's a tragedy.

Wealth without value is power without consequence. You succeed, they get richer; you fail, they get richer. They don't have to care, because they view almost casually what we view as "that big break" or " that lucky chance." There isn't a bank in the world that would've given that 20-year-old student $25,000,000 on which to buy the dip in a business teetering on bankruptcy - but, if you have rich family & friends who can just slide you a couple of dozen million or so, well, it's just good fun to see if the kid can play a hunch and make good.

He lives in a world we will never see, and they blithely control our world. Wealth inequity is a real issue, and the moat & wall is only getting deeper & higher.

Rapmaster2000

2022-08-18 10:59:18 AM

FormlessOne: In other news, the rich happily keep manufacturing wealth for their next generation by leveraging the wealth that they made from leveraging the wealth of "family and friends" made last generation.

The game's rigged, and you're not in on it.

Rapmaster2000: I don't see how that's a tragedy.

Wealth without value is power without consequence. You succeed, they get richer; you fail, they get richer. They don't have to care, because they view almost casually what we view as "that big break" or " that lucky chance." There isn't a bank in the world that would've given that 20-year-old student $25,000,000 on which to buy the dip in a business teetering on bankruptcy - but, if you have rich family & friends who can just slide you a couple of dozen million or so, well, it's just good fun to see if the kid can play a hunch and make good.

He lives in a world we will never see, and they blithely control our world. Wealth inequity is a real issue, and the moat & wall is only getting deeper & higher.

Well, OK. Then tax him then. I'm thinking 87,000 additional IRS agents will help.

But also an increase in capital gains taxes.

The problem with upper-middle class white people complaining about generational wealth is that they're not thinking of themselves as beneficiaries of generational wealth when their ancestors were able to own property and use public resources like universities and libraries while many people were legally not.

Bovine Diarrhea Virus

2022-08-18 11:04:20 AM

I mean, sure. If you read at a third grade level and completely ignore the fact that he started with $25 million, then yes you would think the article is saying that anyone can do it. I didn't have that take-away from reading the article, but you do you.

vudukungfu

2022-08-18 11:56:33 AM

Think he will ever know if a woman truly loves him?

TheYeti

2022-08-18 12:12:18 PM

Bovine Diarrhea Virus: dustman81: Bovine Diarrhea Virus: dustman81: Bovine Diarrhea Virus: Professor Horatio Hufnagel: How much of an insane, psycho, filthy stinking superrich chode do you have to be to give a twenty year old douchebro $25 million to blow on a god damn meme stock? I just woke up and I'm immediately reminded that I don't wanna live on this planet anymore.

I need to go hug my daughter.

Why does this bother you? Don't you think you're being a tad bit sensitive? The guy made a fortune by getting lucky. Who cares? There are worse atrocities in the world. If I had the chance to parlay some money into millions in the stock market and get out of my sh*tty career, I wouldn't think twice.

He started with $25 million, more money than most people will ever see in their lifetimes. Money he raised through friends and family connections, meaning he had friends and family that had $25 million just sitting around.

And? There are plenty of people in this world that have bigger bank accounts than I do, and can make even more money. Life is a b*tch. But I don't feel the need to go hug my cat in despair over it. I just live my life to the best of my ability and try not to worry about how the ultra-wealthy live. Jealousy is not healthy.

This isn't jealousy or envy. It's pointing out that someone with more money and connections that you will ever have bet on a meme stock and "made" more money than you'd ever see in ten lifetimes, then MarketWatch touting him as "see if he can do it, so can you." It's as bad as the Make It articles on CNBC.

I mean, sure. If you read at a third grade level and completely ignore the fact that he started with $25 million, then yes you would think the article is saying that anyone can do it. I didn't have that take-away from reading the article, but you do you.

He also doesn't sound like the average day trader.

After reading the article, it seems like there might be a reason that people were willing to loan him that money, and now I am sure that they will remain invested with him.

twistedsteel5252

2022-08-18 12:12:41 PM

HugeMistake: And he did it entirely with his own hard work and initiative, plus just a small $25M in starting capital from family and friends.

Thiiiiiiiiiiiiiiiiiiiiiis

There's clickbait titles but this one is harmful to the public as it gives everyone fomo stress.

groppet

2022-08-18 1:29:30 PM

And with the money your grandparents left you and a small loan from your parents you can do it too!

HugeMistake

2022-08-18 2:46:21 PM

Bovine Diarrhea Virus: And? There are plenty of people in this world that have bigger bank accounts than I do, and can make even more money. Life is a b*tch. But I don't feel the need to go hug my cat in despair over it. I just live my life to the best of my ability and try not to worry about how the ultra-wealthy live. Jealousy is not healthy.

It's called generational wealth, and it's the flip side of generational poverty. We don't have generational poverty and families living on the street and people splitting their life-saving medication despite working two jobs because everybody else is doing OK. We have generational poverty because some people are so rich that they can sit around doing literally nothing and still suck massive amounts of more money out of the economy, so much money in fact that they can toss $25M at a 20 year old to go play stock market casino and not worry about getting the money back.

And that money - "rent" in classical economic terms - is not available to pay working people a fair wage, or fund universal healthcare, or provide much-needed social services and generally ensure that everybody's fate is not 95% determined by the circumstances of their birth.

So, sure: don't be mad about this guy. He's just a symptom. Be mad about the insane system that capitalism has become, and the people who defend it, or even merely passively accept it as harmless.

HugeMistake

2022-08-18 2:47:20 PM

Rapmaster2000: But also an increase in capital gains taxes.

On a related note, why do we tax unearned income less than earned income? That seems upside down.

cyberspacedout

2022-08-18 4:50:00 PM

I saw the headline and was wondering if this was another thread about Martin Shkreli. Then I saw the Spiffy tag and knew it wasn't.

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