/biz/ - Business & Finance

Permit me to blog for a moment /smg/. I met the face of bad investing. I have seen him and have been told his story.

I met a boomer at work today. God what a story of JUST he had to share. He retired, initially, at 52 years old. No, I'm getting ahead of myself. See here, I was training him to do my wageslave job. He asks what I do and I say this bullshit right here and also stock trading. He perks up at that. Evidently he has a history of sorrow and woe with the stock market. See, he got way in to options trading at some point. Options this and options this. Says he signed up for all sorts of courses and information. Still gets text message updates from his "options guy". But my god the JUST. He had a financial advisor who ran his shit in to the ground but good. Wife divorced him because he lost so much money. "Lost my shirt" he said. Now he's house poor (still has the house from the divorce). Has to do my part-time wagie job for the extra dosh. He kept asking me if I wanted to see his options trading tutorial DVDs. Ex wife cleaned him out to the tune of 50% of whatever was left after his options trading fiasco.

It was a sobering encounter. From what I could gather, he had it made in the shade and could have coasted on dividends for the rest of his life. But no. He and his "options guy" had to go on a gambling spree of shorting the bottom and buying the top. Pretty crazy.

That's all for the blog. Also buy Canada Goose. It's headed back to $90 leafs.