The Stock Market Ruined My Life

I felt it was time to bring back the video.


Stock Futures Trader losses it all and flips out - Watch more NSFW

For those that didn't see the video when it originally aired January 22, 2008, I lost over 30k holding a trade over the weekend being long the stock Futures indices. I was overleveraged, but I never thought the market would go limit offer(Dow Futures down 650pts) with the US markets closed on Monday in observation of Martin Luther King day. I sold my long before the market opened due to a potential margin call that would have liquidated everything. On Tuesday, the Fed did a surprise interest rate cut, and the market popped 500pts. Here is one of the posts from January.

The Dow dropped close to 1000pts in 3 trading days.



The FRE and FNM news is shocking.
Treasury Secretary Henry Paulson is insisting that any potential government rescue plan not benefit the companies' shareholders, according to people familiar with the matter.

One option would have the government buy a chunk of Fannie and Freddie's preferred stock with terms that dilute the equity of common shareholders.(WSJ online July 12,2008)

From The HousingPanic Blog-IndyMac Bank, F.S.B., Pasadena, CA, was closed today by the Office of Thrift Supervision. The Federal Deposit Insurance Corporation (FDIC) was named conservator.

Check out this video from last year of FRE CEO, back when the stock was at 60 and the Dow was at 13,500.