People Who Lost All Their Money in the Stock Market?
Feb 11, 2021 9:24:25 GMT -5
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Post by KAMALARAMBO: BOOMSHAKALAKA!!! on Feb 11, 2021 9:24:25 GMT -5
I’m always curious about how this happens and what folks do to recover? Especially interested though in examples of famous folks this happened to.
I remember in Vince Russo’s second book he talked about losing all his money in the stock market. However he’s so vague about it, it is impossible to tell exactly what happened. He said he was working with someone, probably a financial advisor. One of those catastrophic events happened, probably the 2008 financial meltdown. Then the financial advisor kept telling him something like, “You just have to wait it out.” He did this until virtually all his money was gone and by the time he waited it out virtually nothing was left.
I have to admit I’m curious about this question beyond just entertaining a curiosity though. I have a fair amount of money tied up in the stock market. However, the allocation is such that even with a catastrophic events things could hypothetically recover. Or at least recover enough to be on par with how the rest of the economy came out of the event.
The big thing I always read about on the financial forums I visit I are the dangers of single individual stocks. These of course can also lead to much higher reward but of course with higher reward potential, the risk is also increased. So if that single stock goes belly up you’re screwed.
I remember in Vince Russo’s second book he talked about losing all his money in the stock market. However he’s so vague about it, it is impossible to tell exactly what happened. He said he was working with someone, probably a financial advisor. One of those catastrophic events happened, probably the 2008 financial meltdown. Then the financial advisor kept telling him something like, “You just have to wait it out.” He did this until virtually all his money was gone and by the time he waited it out virtually nothing was left.
I have to admit I’m curious about this question beyond just entertaining a curiosity though. I have a fair amount of money tied up in the stock market. However, the allocation is such that even with a catastrophic events things could hypothetically recover. Or at least recover enough to be on par with how the rest of the economy came out of the event.
The big thing I always read about on the financial forums I visit I are the dangers of single individual stocks. These of course can also lead to much higher reward but of course with higher reward potential, the risk is also increased. So if that single stock goes belly up you’re screwed.
