FOMO YOLO for the APES
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
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I can sort of relate. Had something 1/100th that scale going with GME. Watched 110k in profit dissappear (though this was due to white collar crime and collusion). Still made great money, but I got greedy and shouldve sold at 100k profit.
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 -
Hard for me say WTF are you doing if you can compound that kind of profit in a short period but WTF? Why not roll the profit into a decent dividend fund, open a new position and do it again?PostGameOrangeSlices said:I can sort of relate. Had something 1/100th that scale going with GME. Watched 110k in profit dissappear (though this was due to white collar crime and collusion). Still made great money, but I got greedy and shouldve sold at 100k profit.
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. -
Fuck it. The guy still went from zero to millions. Not 13 but still what? Around 2?. That’s still life altering money, and he did better than 99.99997 percent of the world. Good for him
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I don't know if he got out yet.greenblood said:Fuck it. The guy still went from zero to millions. Not 13 but still what? Around 2?. That’s still life altering money, and he did better than 99.99997 percent of the world. Good for him
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 -
I would never
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13m is enough to never work a day in your life.
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You still have to pay tax, but you walk with $10M.backthepack said:13m is enough to never work a day in your life.
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Exactly. It’s enough to just invest in a stable etfs collect yields over 200k a year and have enough to buy a house, car etc.Baseman said:
You still have to pay tax, but you walk with $10M.backthepack said:13m is enough to never work a day in your life.
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Always have a target number and stick to it when you get into any investment. I have a buddy who recently flipped $400 into 2.9 million on some shitcoin, didn’t sell, and now it’s around 150k. Always have a number, and stick to itBaseman said:
I don't know if he got out yet.greenblood said:Fuck it. The guy still went from zero to millions. Not 13 but still what? Around 2?. That’s still life altering money, and he did better than 99.99997 percent of the world. Good for him
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 -
What, you wouldn't pay the tax?ntxduck said:
Always have a target number and stick to it when you get into any investment. I have a buddy who recently flipped $400 into 2.9 million on some shitcoin, didn’t sell, and now it’s around 150k. Always have a number, and stick to itBaseman said:
I don't know if he got out yet.greenblood said:Fuck it. The guy still went from zero to millions. Not 13 but still what? Around 2?. That’s still life altering money, and he did better than 99.99997 percent of the world. Good for him
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
