I don’t have the guts for options. But I did make a nice pile off of Tesla over the past few months.
From: Tushar Patel Sent: Wednesday, July 1, 2020 12:49 PM To: AnimalFarm Microwave Users Group Subject: Re: [AFMUG] OT - stock market Interesting, yesterday I ran into someone and she started talking about how people are making a lot of money in options. She went on to say her friend made $3.5M in Tesla options. Tushar On Jul 1, 2020, at 1:12 PM, Ken Hohhof <[email protected]> wrote: I spent about an hour on the phone yesterday with my guy at Morgan Stanley, basically cutting my exposure to equities in my IRA in half. Went from 60/40 to 30/70. Also got rid of one real estate ETF. But the interesting factoid I wanted to pass along was he said a lot of individual small investors are currently speculating in the market including in options basically as a form of entertainment. And that is helping to boost some irrational exuberance. Even some big name stocks that have done well during the pandemic have been bid up to some pretty crazy PE ratios. I guess if you can’t go to a movie, concert, bar, or casino, there’s Wall Street. But people at a casino aren’t necessarily looking to make a profit, just have a good time while losing their money. It also turns out he knows the family of the kid who committed suicide because he thought erroneously that he lost almost a million dollars on some millennial focused stock trading app. https://www.cnn.com/2020/06/19/business/robinhood-suicide-alex-kearns/index.html -- AF mailing list [email protected] http://af.afmug.com/mailman/listinfo/af_af.afmug.com -------------------------------------------------------------------------------- -- AF mailing list [email protected] http://af.afmug.com/mailman/listinfo/af_af.afmug.com
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