I suspect some of you saw the article over on ZH about the “trader” who had the misfortune of having his entire account short KBIO which ripped about 700% higher this morning. The guy blew out his entire account (and a lot more) and put up this page to ask for people to help him make his six-figure margin call (the margin call itself is three times bigger than the original account). As of this writing, he’s raised about 1.8% of what he owes Etrade.
Having read the text of his GoFundMe page (which is typically used for more worthy causes, such as helping out families or individuals with medical emergencies or charitable organizations that need assistance), I wanted to review the entirety of his missive, since I think there are some important lessons in here. I’ve cleaned up some of the more egregious misspellings and syntactical errors, since it bothers me to sully my blog with such things. Here we go:
Hello to all you traders out there. I’m starting this page out of the recommendation of other traders in the community.
Although Slopers have proved themselves a passionate lot, even when it comes to as pedestrian a topic as Krazy Glue, I’m going to remove my shoes and go tromping through the verboten topic of religion, because it’s been on my mind, thanks to the widely-reported kerfuffle that the management of Starbucks, by way of changing their holiday cups to a simple red design with no holiday imagery, have proved that they hate Jesus.
The chap declaring this ostensible war declares “I think in the age of political correctness we become so open-minded our brains have literally fallen out of our head.” It’s not surprising, I suppose, that such a fellow would commit so many verbal pratfalls in the span of a single sentence, but I’d rather set aside the syntactical foibles and misuse of “literally” and focus on the bigger picture.
From time to time, I will hear someone on the news cautioning participants in a conversation that they are saying things in support of “class warfare.” Inevitably, that shuts the conversation even quicker than calling someone a racist (or trotting out some stomach-churning childishness like references to ‘the N word”) . Apparently any notion that doesn’t glorify socioeconomic stratification in our society is denigrated as “class warfare”, and all parties go scurrying for cover.
This is a continuation of the story I began yesterday.
The year is 1985. The place is Cupertino, California. The boy is Tim Knight, now 19 years of age and ready to start a chain of personal robot stores called The Robot Center. He’s got the time. He’s got the drive. But he doesn’t have the money.
When I started this blog nearly eleven years ago, my intent was to share trading ideas and charts. Given the tens of thousands of posts that have taken place over that time, naturally some other content has entered the picture. Although I tend to keep my personal life rather private, I do like to share chunks of my life that I think are interesting and, possibly, instructive. This is one of those times.
It’s amusing to me that this is a tale that’s never occurred to me to share. I often worry about running out of things to say, since I’m not sure how many times I can successfully dip the ladle into the water barrel of my pathetic and tragicomic life and draw out something worth sharing. This story, however, occupied about a year of my existence, and although I haven’t planned out what I’m going to say yet, I’ve already decided this is probably going to require two posts to get through it all. So here goes:
A couple of weeks ago, for no particular reason, I made an off-the-cuff musing on my Tastytrade show about the prospect, years from now, of the giant oil companies being dragged in front of some kind of world court, being called to account (and pay for) all the damage they have done to the world’s climate. Again, I’m not sure what possessed me to say something so random, but I was naturally struck when I saw these headlines this evening: