Quote from: JimboToronto on Today at 03:27:58 PM

Quote from: Hueristic on Today at 05:28:45 AM

Quote from: Biodom on Today at 04:22:49 AM

EDIT: did you guys read about some Canadian guy who had a round-trip going from 88K to 415 mil ( Cheesy

) and back down to essentially zero using TSLA calls and puts?
A strange story...he is suing RBC for, apparently, giving him a bad advice, whatever this means.

So 400 million wasn't enough?

He decided he needed a cool billion?

Just the opposite.

He wanted to pull most of his wealth out and put it into low-risk income generating securities but the bank, not wanting to cut off their steady influx of trading fees, kept pushing him to continue gambling.

He was ready to retire at the age of 30.

Hence the lawsuit.

https://www.cbc.ca/news/canada/british-columbia/man-sues-over-tesla-stocks-1.7343048

Well...that's probably his legal position, which i understand.
However, i am 99.99% sure that buying calls selling puts, which is an extremely rissky strategy was not initiated by RBC...no way!

Once his account reached multiple millions, he probably engaged RBC and maybe asked for diversification.
RBC gave one stupid advice, though: to make charitable gifts that reduce taxes, which was incorrect in retrospect because if you lost everything, then there are no taxes if gain and loss occurred in the same year.
It beats me why even a few tens of millions were not extracted and put into cash/treasuries? when account value rises so fast, maybe it is psychologically difficult to do.
It is possible that they did not have time to implement diversification due to the nature of his positions that I am not privy to.
TSLA made an abrupt turn around in late 2021 and quickly plunged from 400 to 100, which was what probably nullified the value of his account.

Coming back to bitcoin: if the graph that @LFC posted would turn out to be true and bitcoin doubles at some point from 120 to 240K within 2-4 weeks, how many would happily take profits instead of holdling.

IMHO, not many...as rapid gains are addictive.