Tuesday, November 24, 2015

Building Wealth or Burning It on the Stock Market

Joe Campbell is now the shining symbol of greedy, incompetent, and now deeply-impoverished day traders but there's another goodie to the story since Martin Shkreli, the Plundering Pill Parasite, lost money as well.  (CNN:  Man begs for money after risky bet implodes)

The article is suspect when it uses a word such as 'implosion' in the same way other idiot journos use 'meltdown,' either of which is common in the lowbrow world of modern journalism.

Nevertheless, it doesn't take much of a writer to tell the story because experienced traders out there (e.g. Kannafoot, Lotho, and others) will cheerfully tell you Joe Campbell was a greedy moron and those are always, every single time, the easiest to fleece.  In this case, no-one cheated him but rather he did something stupid and lost everything.

Left out of the story was he deserved it and he was paid back negatively for his greed.

Here on the Socialist Left, we believe in long-term investment in valid properties as an honorable way to build wealth but these amateur greed monkeys such as Joe Campbell do not seek to do that; he's just one more get-rich-quick scheme which blew up in bankrupt flames.  Fuck him, we don't care.

The unmitigated gall of the bastard was putting his problem up as a beg for money on GoFundMe.  I know a woman who is deeply-ill and in danger of losing her house but she would not use GoFundMe and I understand why from my own situation.  The most important time to stand tall is when you can hardly get to your feet.

Don't be thinking he got any respect for going to GoFundMe and here are some examples CNN provided:

One user called him "pathetic," while another said, "Man, you should have saved your GoFundMe request for your divorce fees, not E-Trade."


You can see Stock Market for Dummies whizkid videos on YouTube any time and all of them tell you it's so easy to make big money.  Naturally, that explains why they make dumb ass videos on YouTube rather than cruising the Caribbean in their yachts.

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