That is because it is not practical. A $100 gain for the whole year on a $1k account is pretty good returns percentage wise but it doesn't buy you much. You can afford to be more aggressive with a $1k account. Some people play by the odds in every situation to the extent they won't even buy a $1 lottery ticket for a chance to make $10 million. For me, I do play the lottery occasionally even though it is negative odds. The reason being is that I can afford to spend $1. Even if I don't buy the ticket I would have bought a can of soda instead. But I do not have $10 million, so the $1 spend is worth it for a chance to make $10million even if it is negative odds.
Yes, this was discussed in at least one other thread. There and here I continue to argue that the amount is more relevant than the % gained. As HolyGrailSeeker points out, 10% of 1k is a better return than your bank savings account, but it's still only $100. Short lived pat on the back. I may very well be wrong, but all my stock trades are based on expected $ amount and not %, regardless if it's a $10 or $1000 stock.
Sir Jack has bet on BGFV and as of now he is still in the position: (stock is opening around 39, that is an extra 800K not shown here)
What these guys are doing isn't much different from playing the lottery. I applaud the ones who achieve these massive returns, I don't have the balls to go all in like that. But for those success stories there are maybe a few 1000 others who lost it all trying to do the same thing.
Indeed. The whole "freedom from wage slavery" is a farcical thing to say. He's already free from it with that balance. The rest of the problem is in his head.
He is getting close. A few notes about this: 1. Sir Jack only plays stocks, his account doesn't have option privilege. That is probably making him a better researcher. 2. "For those wondering: I plan to time the top as best I can." 3. The winner of the race from 3 weeks ago is around 15+ MM. "For those that was waiting for my next play, it’s SKLZ" SKLZ is up from 9 to 12 since. https://old.reddit.com/user/SIR_JAC...ot_about_the_money_its_about_being_right_and/
He is planning an AMA: https://old.reddit.com/user/SIR_JACK_A_LOT/comments/rh65h6/quick_one_from_sir_jack/ Until that, the main take away: “Time in the market beats timing the market” is bullshit if your goal is to get rich I think there needs to be nuanced understanding of one’s goals/desires and risk tolerance for achieving them. I’ve found most people in life to be very conservative with money and can’t stomach almost any loss. For them: yes DCA and indexes are your friends and in 30 years you’ll get that first million and be in a not too shabby place, bravo But this advice falls on deaf ears of those with higher risk tolerances and stronger desires to be in the 0.1% while young. Timing the market requires 0.1% luck thus you gotta will it into existence Many will fail and have to go back to a Wendy’s, literally 99.9% other people. Hell I lost everything and more in crypto in 2017-18 and with options in 2018 too. These past 2 years were just insanely lucky on all parts and I decided to lean into the luck to will myself into the 0.1% Only piece of advice that’s been true again and again is seriously: if it’s good enough to screenshot, it’s good enough to sell Hope that was insightful"