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FOMO YOLO for the APES
Baseman
Member Posts: 12,365
So a buddy of mine, ten years younger has a buddy that went all in on Dogecoin. Entry somewhere ~ $.0015?
Anyway, a few weeks ago this guy's stake is worth ~$13 million. The guy had no net worth and gets to $13 million.
Instead of cashing out and rolling into say Vanguard's dividend ETF VYM which pays a 3+% yield -- enough for $300,000 a year AFTER paying the short term capital gains -- he says, 'nah' YOLO.
Since then, Doge is down 70%.
YOLO? WTF. $300,000 a year with an average CAGR of 6% isn't good enough? In ten years the yearly take is over $500,000 a year. WTF are these kids thinking?
Anyway, a few weeks ago this guy's stake is worth ~$13 million. The guy had no net worth and gets to $13 million.
Instead of cashing out and rolling into say Vanguard's dividend ETF VYM which pays a 3+% yield -- enough for $300,000 a year AFTER paying the short term capital gains -- he says, 'nah' YOLO.
Since then, Doge is down 70%.
YOLO? WTF. $300,000 a year with an average CAGR of 6% isn't good enough? In ten years the yearly take is over $500,000 a year. WTF are these kids thinking?
Comments
The reality is when things are rolling it seems there is no way it can come crashing down.
That is an insane amount of money and he shouldve sold off chunks along the way up. At least doge didn't have hedgefund fuckery manipulating it to the same extent
All this diamond hands and peer pressure of to the moon, are the others saying this going to cover the losses?
Again I marvel at you guys for juicing these plays but be smart and cash the winnings in, start with the same size position and do it again.
I couldn't sleep going from zero to 7 figures -- 8 in this case -- in a crypto or YOLO meme. I just couldn't.
50% amazed/50% WTF
So if you’re going to YOLO, exactly what do you live for? Not to get all Peterman, but whats your purpose, what excites you, what gives you enjoyment? Was 13m not enough to let you do those things? If not then good luck the rest of the way, the odds aren’t high you’ll ever be happy, unless the thrill is all there is to it.
They YOLO due to zero responsibilities. Maybe why I smoked crack for a few yrs before I had a son. Shit changes or something like that.
CSB, I know, thanks.
But when you're in those shoes and you've just breezed through several classes of standards of living, the next class up is always more appealing than the last. Once you get a taste you're always going to want more. We're all filthy addicts, it's just a matter of restraining it as much as possible.