Quote:
Originally Posted by NemesisX
I totally believe it’s possible to do this, but one thing gives me pause. The fact that he made it to $14M at one point and still kept up with these incredibly high risk investments leads me to believe that he’s possibly a bit of a loose cannon and may have a gambling problem.
I can’t think of any reasonable human being that turned $200k into $14M who would look at that and keep going.
If he’s indeed at $30M right now, then he’s catapulted himself into top 0.1% of households by net worth. Something like the top 160,000 households in America are ultra high net worth individuals with $30M+. He should stop and put all of his gains (less capital gains taxes) into SP500 ETFs/mutual funds immediately. Anything else would be foolish. He can play around with 10%.
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He told me that he had a goal of reaching 60m...I’m guessing that’s why he kept going. I’m not sure if he reached it or lost most of it, haven’t asked. I’ve known the guy for the last 10 years and he’s always been a risk taker, put it all on the black type of a guy. I hope he stops at a point and be happy with the what he gained before a chance of loosing it all. He’s always been a good friend to me and I wish him luck.