Short seller loses his ass, starts gofundme, people give him money

[Funky Bunch]

http://www.businessinsider.com/joe-campbell-gofundme-page-for-e-trade-2015-11

 

[The_Joker13]

I guess if people are dumb enough to give him money, more power to him.

 

[Hoosierhawkeye]

Sucks to be his wife, getting her 401k liquidated to pay what are essentially his gambling debts. If the man had as much honor as he claimed he'd leave her 401k alone and pay these debts on his own.

This is literally like giving money to a person with a gambling problem right out in front of the casino.
Also I have a question. . . if you are in a position where feel "comfortable" losing $37,000 then I should think that you have a good enough income to pay off a $106,000 debt.

That is only 3 times the amount of money you felt comfortable losing. If I gambled which I don't, then I might feel comfortable losing $20. And I could easily cover a $60 debt. But maybe the reason I don't gamble is I don't feel comfortable losing large amounts of money that I can not easily replace.

 

[HawkFantastic]

If people give him the money to cover any portion of this debt, what does he learn?

 

[The_Joker13]

If people give him the money to cover any portion of this debt, what does he learn?

That people are stupid?

 

[coloradonoles]

If people give him the money to cover any portion of this debt, what does he learn?

That people are stupid?

And he has a bright future in the Democratic Party.

 

[Funky Bunch]

He needs to look at the bright side. He'll have a capital loss carryover for the next 40 years

 

[St. Louis Hawk]

If people give him the money to cover any portion of this debt, what does he learn?

That the GOP business model* works?

* If the market kills me because I took stupid chances, I will still survive and, in fact profit, because my friends in Congress will make the taxpayers bail me out.

 

[fredjr82]

If I gambled which I don't

 

[INXS83]

I guess if people are dumb enough to give him money, more power to him.

P.T. Barnum was right.

 

[The Tradition]

Seriously, who browses this site looking for people who need money? I can think of thousands of ways I could give away my money without having to go to a website full of beggars.

 

[linkshero]

I don't trade on my own, and have not come across this. Can some one give the 3rd grade version of how this guy got so fisted?

 

[The Tradition]

I don't trade on my own, and have not come across this. Can some one give the 3rd grade version of how this guy got so fisted?

When you short sell a stock, your broker will lend it to you. The stock will come from the brokerage's own inventory, from another one of the firm's customers, or from another brokerage firm. The shares are sold and the proceeds are credited to your account. Sooner or later, you must "close" the short by buying back the same number of shares (called covering) and returning them to your broker. If the price drops, you can buy back the stock at the lower price and make a profit on the difference. If the price of the stock rises, you have to buy it back at the higher price, and you lose money.

Read more: Short Selling: What Is Short Selling? | Investopedia http://www.investopedia.com/university/shortselling/shortselling1.asp#ixzz3s4DVXigq

 

[linkshero]

When you short sell a stock, your broker will lend it to you. The stock will come from the brokerage's own inventory, from another one of the firm's customers, or from another brokerage firm. The shares are sold and the proceeds are credited to your account. Sooner or later, you must "close" the short by buying back the same number of shares (called covering) and returning them to your broker. If the price drops, you can buy back the stock at the lower price and make a profit on the difference. If the price of the stock rises, you have to buy it back at the higher price, and you lose money.

Read more: Short Selling: What Is Short Selling? | Investopedia http://www.investopedia.com/university/shortselling/shortselling1.asp#ixzz3s4DVXigq

Perfect, thanks!

 

[KitingHigh]

That the GOP business model* works?

* If the market kills me because I took stupid chances, I will still survive and, in fact profit, because my friends in Congress will make the taxpayers bail me out.

Are you trying to claim the DNC business model is any different?

 

[Herkmeister]

I'm gonna send him money and stiff my family at Xmas!!!