Others   

New Grad Lost $700k in 3 mths.

Hey... many will agree that's the ultimate goal in life... !!!

What's there to 'slog it out' and risk failure when there's an easier way?

Just a passing thought!!!

 

ya..that female dude got a richie hubby leh...some angmo expat or something..haha..actually she didn't even need to work :P

 

I don't the 1.99 shop femalle entreprenuer recouped her lost. However, she's making lots of money now by giving inspirational talk on lessons she drew from her biz failure.... 

 

nickyng...

Yes... agree with you... :)

"Every adversity carries within it an equivalent benefit"

(or something to that effect, as said by Napoleon Hill)

 

wonder if this guy can come in and share with us his experience of losing 700k? perhaps he can write a book and sell or something to -recoup losses ? like that 1.99 shop female entreprenur ? :P

 

It is not as if there has been no wisdom (ie. stock market wisdom) existing in this forum all this while!!! 

 

Yup, it is always good to give kind words to people in calamity. If we cannot help, don?t cause further harm by our words. Let's hope his spirit remains intact and bounce back quickly in life.

 

Peace.

 

fortunegal is right... the father probably had blind faith and extreme pride in his son. It may not have been greed.


I hope the young man pick himself up from this episode. It will take him a few years to pay off his debts but I believe that he will be a much stronger person after this lesson.

"That which does not kill me makes me stronger!"

 

geojam, my brother only own my dad money, so no need to take bankrupty. the money which my dad owns is hard earned money, not borrowed from the bank.

handicapper88, for older generation like our fathers and mothers, they might not be so highly educated and they are not totally sure of what their sons did. They just 'blindly believed' in their sons. Pls do not comment hurtful words like his father is also greedy, but more on his ignorance in how stock market works. I think he also never tell details to his dad that he is playing constra.

 

I laud him for his courage

I respect him for his sincerity

I'm sure he had learnt a lesson that non of us here ever have a chance to experience (losing $700k) and that alone was an eye-opener to everyone here that the Stock Market is not a 'playground' that you could easily profit from. It could be both your friend and foe at the same time.

lausk22 , good post and I like it! Cheers!

 

The period of greatest gain in knowledge and experience is the most difficult period in one's life. Through a difficult period you can learn; you can develop inner strength, determination, and courage to face the problems....

His Holiness the Dalai Lama

 

fortunegal

So did ur dad or bro took the bankruptcy route?

 

Yeah.... a very sad story.

I believe that it could happen to any of us. His pride and over-confidence got the better of him.

I also applaud him for telling his story to the newspapers. He probably wanted people to learn from his mistake. I hope he recovers from this disaster a wiser person.

 

Actually, i think this young man is quite pitiful. At least he is young can easily start afresh. I guess the article is a timely warning, albeit an extremely skewed one, that reminds us to keep our emotions in check.

 

This moron could have bought into Informatics and become majority shareholder with $700k!!!

Bloody idiot!

And no I don't feel sorry for him because his and his parents downfall was all caused by GREED. One of the 7 sins. Don't think his father was innocent - his father also GREEDY, thinking that his son can double his fortune for him.

 

Old man got to work harder now, can't retired yet another 5yr?? 10yrs?? to keep the famliy going, tink tink there's a lot like this isit ??. Hopefully not with retire old man $$$ and by posting, hope it help other to realize B4 it is too late.

Never the least with sincere heart.



I wish this young man do can afford to lose this much and recover from this set back.

 

My friends, beware the politics behind this: when u happen to make some money n throw parties, u'll get friends n u'll b well loved, when u lose u r named as a loser or worse off as a gambler, 'friends' leave, particularly female. How many people believed in the Ho Bee guy when he failed? I bet he was avoided and most likely stinked as an all-time gambler before. 

Well, the Father loved the son n I did not c what was wrong with the Father. Personally, I find the lack of intelligence in the son caused the failure. 300K is good money, given time, can be multiplied by a rookie fund manager against herd mentality.   

 

It really,really really means on hindsight everything seems so easy to give comments and criticized.  Give him a break ! c-h-e-e-r-S!

 

hey you guys like to chit chat so much here .. i thought only girls that talkative. :p

I pity the 700K loss of the young man and he had learnt a deep lesson of GREED. seriously, he should consider bankrupty as there are a lot of loopholes in bankrupty (my friend is going through with the help of a 'financial advisor'). There is no one to guide n advise him too.

as for the old man who believe in his son, it also happen in my family 17 yrs ago. my dad trust my bro and he took his hard earn money of 5 figure and it is all loss in the stock market suddenly. but that time i was young, only remember he is always so upset at nite n keep telling me all his hard earn money is gone.

it seems like this kind of stories... seems to repeat n repeat round the universe.

 

Posted: 13Mar07
	Grossly over come by or blind by greed by the young man and for the poor old man, he is entirely, totally ignorence, believeing his son, an inexperience under grad...that plung into stock punting is the most geinus. Here is a lesson wish other can learn.