/biz/ - Business & Finance

understandable

>>19777643

How? goddamn get a job at Wal-mart and live the rest of your life in debt you'll never be able to pay off like everyone else?

>>19777597
rip

>>19777597
>panic suicide
>find out shortly after it was only a glitch
>your impotent ghost tries to scream in agony
>no sound comes out

>>19777643
It isn't. Its proof he was a midwit too stupid to declare chapter 7 bankrupcy. Poof just like that his debt would have been wiped clean. Instead he was spooked and thought it was so real he took his own life. I cannot imagine anything more cucked.

>>19777653
He wouldn't need to have paid a cent. All he would have had to do was file for chapter 7 bankruptcy in court and the only adverse effect would have been adverse credit history for the next 5 years.

>>19777666
Satan trips confirms this

I don't understand suicide one bit. There are so many options, including just walking away. Just start walking, take a train, take a plane, go to some other country if you must, just start over.

>>19777666
>be tormented in hell also knowing something called bankruptcy existed and even if it wasn't a glitch it still would have been a retard move to kill yourself

>>19777597
Holy shit now that i read the article it wasn't even a realized loss, just a glitch. Holy shit. Imagine having such little impulse control that you kill yourself without even double checking something like this. I'm on the phone with TD Ameritrade customer support every other week. Wtf did he do, log into robinhood and 15 seconds later jump in front of that train?

How retarded do you have to be to actually believe a random 730k debt just appeared out of nowhere? I would have just laughed and posted screenshots here with pink wojaks

>>19777848

Kid was probably still in school. Looks like fucking Mc'lovin from Superbad.

>>19777927
That is no excuse.

these zoomers are so sad
coked out 80's boomers did it properly
>“O’Hare Play.” Traders would bet on a commodity, then head to the Chicago airport.
>If the bet paid off, they’d set off for a lavish vacation. If not, they bought a one-way ticket to start a new life.
like just buy a one-way flight to thailand and learn to code nigga

>>19777819
Its probably not even the reason. Random sperg killing self is not good for clicks, robinhood trader killing self is big clicks

>>19777943

Well, it's not an excuse. It's a reason though. Young people handle shit differently than adults that know how crap works.

>>19777597
it's not a bug it's a feature

>>19777777

Why would you fucking kill yourself over dept while you are this young? Just declare Bancruptcy, lmao

>>19777972
He was an adult.

>>19778035
Legally? Sure. Mentally? Fuq no

>>19777597
I smell a massive lawsuit, and Robinhood doesn't have a leg to stand on desu

>>19777666
Brainlet here, how was it a glitch? How does this work?

>>19777819
I would assume this guy was already thinking about suicide before this, he was probably horrible socially, had a shit job, and bad home life.

>>19777848
He was probably trading options he only half understood in the first place.

>>19778138

Are there legitimately ways to go from having like 20k in your account to being that much in debt? I mean fuck, you can gamble your way into that much debt in an hour can't you?

What if the reverse happened? In other words, if he realized a 750,000 gain in his account due to trading the right things at the right time; would he have been able to cash out or re-invest? Would he have found it suspicious or would he have been glad for the payday?

I can't help but wonder....he would be playing this game for the potential gains and he'd take the gains if they happened. Why not take the loss too?

>>19778138
I thought Robinhood disabled that type of options trading

>>19777994
Based

>>19777674
>cannot imagine anything more cucked.
this is when your post loses all significance

>>19777962
>O'Hare play
That's... something

>it may not have represented uncollateralized indebtedness at all, but rather his temporary balance until the stocks underlying his assigned options actually settled into his account.
>His final note, filled with anger toward Robinhood, says that he had “no clue” what he was doing.

Lol, so if I get this right, he randomly jumped into stock options he had no idea about because he saw others doing it, did no research, then when his account showed a transition balance he offed himself? Why didn't he just come for advice? You cunts have netted me over 74k in my portfolio since 2018 with my biggest loss being 30k or something.

Also, anyone got the full story on what exactly he was trading and where he fucked up?

>>19777597
burn in hell you zoomer

>>19778353

>>19778338

You fucking serious? damn. I thought about starting to invest like five years ago when AMD (cpu processors) were brought to their knees and everyone was shitting on bulldozers. I knew when they released Ryzen it was going to be super hot shit. I was right too. Went from $14 per share to like $50 something now. Back then I was like "all I have to invest is like 1 grand which ain't really shit, so fuck it". Now I regret my decision. Wish I would have invested.

>>19777597
It's probably better this way. Look at this Incel face, he'd rope 5 years later anyway. Zero fucking testosterone generation.

>>19778393
Hey man I came to /biz/ from /g/ in 2017 when I got fired from my back-end job. I started with 50 bucks and asked for advice, got some good tips and slowly built up on those penny stocks until I could invest 500 or so. Use your investment short gains to put capital into long-term gains. /biz/ is surprisingly helpful for how autistic this place is.

I work for Robinhood (no I won't confirm, it's a miracle we're even allowed to work from home right now) I looked him up and he now has a positive balance

>>19778461

Any advice on choosing stocks? I'm intimidated by the legal hassle and investing complicating my taxes and shit. I just want to invest without having to bring all them numbers and shit into my head when it comes time to do taxes. I fucking suck at math. i just want to drop some money in and pick some shit.

>>19778485

How do you see his current balance?

>>19778524
I work support and I'm able to look him up in our system

>>19778524
Choosing stocks? There's no real answer. I've just bought dips. Social unrest has made alot of companies stocks drop, especially with joggers burning stores and shit. So right now I"m buying any retailer who's dipping because of it. Otherwise I started shadow-trading other anons on hype threads and it just kinda worked out. Mind you I don't make big on some options. I pull them once I"m getting 2x the return. Also no-commission trading is a fucking scam, just bite the broker bullet. And once you have enough invested to worry about takes, hire a jew to do your taxes.

>>19777819
He was probably already on the edge.

>>19777666
jesus christ Satan, have mercy

>>19778524
>Any advice on choosing stocks? I'm intimidated by the legal hassle and investing complicating my taxes and shit.
Buy ETFs consistently for 10 years. Don't sell, don't trade, just keep investing.

>>19778590

>And once you have enough invested to worry about takes, hire a jew to do your taxes.

So basically I don't have to worry about filing any kind of investment info in my taxes until I actually withdraw?

What are the odds that Robinhood like just shuts down and shit and goes out of business in the ten years I'm waiting for my investment to return? what happens to my money?

>>19778639

Buying ETF comes after I create an account and deposit some money in there right? So buy one, make sure I want it. Plan on keeping the thing until I withdraw and just keep putting money into it? what like ten dollars a month maybe?

>>19778639
>Suggesting holding
No fuck you /biz/ that's how I lost my fortune of buttcoins.

>>19778685
Buttcoins don't pay dividends

>>19778485
So what glitched?

>>19777597
look at him, he was an incel
when ppl say "i'm all in link 10x leverage if this fails im killing myself" that's their face

>>19778706

>>19777597
This is what you call an illiterate fuck. Glitches with technology happen all the time. Know what you're getting into not only from a gambling or financial perspective, but that these technologies can have bugs in them.

>>19778660
Open an account at a decent broker, of course. Most traders cannot beat S&P500 long term. Unless you want to gamble, just buy ETFs consistently, that's my advice and goes against everything this board teaches ("get rich quick!").
$10/mo is too little. Take everything that you don't spend, put some in a savings account for an emergency fund and the rest in the stock market.

If it were a Black trader, he'd have eaten the loss like an alpha and continue on with his day by fucking the hottest white girl he could find

>>19777994

>>19777962
im going to steal this
call it the LAX express
but both outcomes lead to thailand or amsterdamn

>>19778485
i work for amazon and i looked you up, and dont worry your shipment of hose sized dildos will arrive on time tomorrow

>>19777666
Checking these double trips of infinite suffering

>>19777734
You don't understand it because you aren't a massive faggot. People that commit suicide are weak and pathetic. Why do you think you never see any alphas or Chads killing themselves? They are always beta virgins like OP

>>19778762
what ETFs? and why exactly? I realize theres significantly less risk with them, but wouldn't it be better to put money in decent dividend stocks like xom?

>>19778485
im just going to believe this
and say
OH NO NO NO NO NO
HE
CANT
BREATHE
DAWG

>>19778562
>I work support

Fucking pajeet.

>>19778840
I don't really care about dividends before retirement. While I'm still wage-cucking, I want to maximize my capital as much as possible long-term, when I decide to retire early I'll probably move everything into dividend-yielding stocks.

>>19777597
>You can't make this shit up!
They literally did

>>19778252
Assuming it wasn't a glitch, they'd ask for it back. If you withdraw it you have to pay it back. If you spend it you go to jail for "theft" . Similar situations have happened before where banks credited accounts with millions

>>19778306

DILATE. Or better yet, join him.

>>19777734
You can’t really survive like that though. You’d be homeless. Capitalism doesn’t allow freedom.

>>19777597
>>19778095
https://www.forbes.com/sites/sergeiklebnikov/2020/06/17/20-year-old-robinhood-customer-commits-suicide-after-seeing-a-730000-negative-balance/

>Kearns may not have realized that his negative cash balance displaying on his Robinhood home screen was only temporary and would be corrected once the underlying stock was credited to his account. Indeed it’s not uncommon for cash and buying power to display negative after the first half of options are processed but before the second options are exercised—even if the portfolio remains positive.

>“Tragically, I don’t even think he made that big of a mistake. This is an interface issue, they have slick interfaces. Confetti popping everywhere,” says Brewster referring to the shower of colorful confetti Robinhood routinely deploys after customers make trades. “They try to gamify trading and couch it as investment.”

>>19778848
>>19778485
Also I looked at his support emails. He messaged us about the negative balance but didn't receive a response before it happened. It would have been cleared up if he just waited a bit while whoever was handling the case looked into it

bump

>>19777700
So why doesn't every 20 something unemployed loser here do this then? If it goes well you make it and get set for life, if it doesn't you get away with a 5 year long slap on the wrist.

>>19777597
holy shit this is peak JUST shit

is this a ploy to take the stock market away from goyim?

>>19777597
I bet you he actually made that amount and thought he really lost it all or something of the sort. Or he maybe actually had the 700k and wrongfully got it through manipulation or something of the sort

>>19777597
>if you are reading this then I am dead
fucking kek he went out in style at least

>>19777597
Poor kid just wanted hookers and cocaine

+1 for another Death of Despair

>>19777597
He was an incel so it doesn't surprise me that he chose suicide.

>>19778306
>this is when your post loses all significance
No, self-cucking is an apt metaphor for what this Ashekenazi brainlet did.
Not only was the debt not real (it was based on notional exposure), but even if it had been, he was 20yo, and could have just filed for bankruptcy.