If You Take Pleasure in Others Misfortune...

[Kashmir]

Hey all,

I used to have a job that made a lot of money (to me at least), about $130k per year. I saved up for 4 years but now unfortunately have nothing to show for it. I invested about $50k into a single stock one day prior to an earnings announcement; the earnings were terrible and the stock plummeted ~33%, so I lost $15k in that one day.

Next, I tried to build a crypto mining rig right at the peak prices (BTC $18k) and that failed miserably, so there went another $30k.

The remainder I lost due to a gambling addiction, probably about $80k in brick-and-mortar casinos and $40k online.

In conclusion, I have now learned my lesson and understand the value of a dollar. You work hard for your money, so don't give it away kids! Make conservative, informed choices and do your homework before any type of investing!

Just my 2 cents. Have a good one guys!

[saintx]

Originally Posted by Kashmir

Hey all,

I used to have a job that made a lot of money (to me at least), about $130k per year. I saved up for 4 years but now unfortunately have nothing to show for it. I invested about $50k into a single stock one day prior to an earnings announcement; the earnings were terrible and the stock plummeted ~33%, so I lost $15k in that one day.

Next, I tried to build a crypto mining rig right at the peak prices (BTC $18k) and that failed miserably, so there went another $30k.

The remainder I lost due to a gambling addiction, probably about $80k in brick-and-mortar casinos and $40k online.

In conclusion, I have now learned my lesson and understand the value of a dollar. You work hard for your money, so don't give it away kids! Make conservative, informed choices and do your homework before any type of investing!

Just my 2 cents. Have a good one guys!

Money comes & goes i wouldnt sweat it. Ive gone from losing thousands to winning thousands i also gamble but i gamble the smart way. Seems like you have a high income skill so you can obviously capitalize on that. You are correct the value of the dollar can easily be underminded when money comes easy to you. Everyone has hot and cold streaks though but like i said money comes and goes so dont see it as a misfortune just see it as a slight setback and refocus.

[sax4]

The remainder I lost due to a gambling addiction, probably about $80k in brick-and-mortar casinos and $40k online.

No, you lost it all to a gambling addiction

[Pandoras_box]

Originally Posted by Kashmir

Hey all,

I used to have a job that made a lot of money (to me at least), about $130k per year. I saved up for 4 years but now unfortunately have nothing to show for it. I invested about $50k into a single stock one day prior to an earnings announcement; the earnings were terrible and the stock plummeted ~33%, so I lost $15k in that one day.

Next, I tried to build a crypto mining rig right at the peak prices (BTC $18k) and that failed miserably, so there went another $30k.

The remainder I lost due to a gambling addiction, probably about $80k in brick-and-mortar casinos and $40k online.

In conclusion, I have now learned my lesson and understand the value of a dollar. You work hard for your money, so don't give it away kids! Make conservative, informed choices and do your homework before any type of investing!

Just my 2 cents. Have a good one guys!

Nyet! You haven't learned.

[SaiJin]

Well, whoever takes pleasure in other's misfortune says alot about themselves.

we're supposed to be giving and not dragging ppl down

[rsot]

I don't get pleasure from the misfortune of others but life isn't fair. Just have to keep at it

[Pandoras_box]

Originally Posted by tinsoldier

I've lost count of the number of people who's financial misfortune has given me pleasure. Let's not confuse that with ill health, addiction or some other unfortunate event.

OP has assumed that because they are poor with money it is wrong to have no pity for them or even take some kind of pleasure. Is this some kind of self pity 'karma' thread?

Thank you for calling him out. He infers in the title that if we don't offer our sympathy, then we take pleasure in his misfortune. He lost but we can't call him the corresponding noun because it is against forum rules. So let's call him 'the last winner'

[Pandoras_box]

Originally Posted by SaiJin

Well, whoever takes pleasure in other's misfortune says alot about themselves.

we're supposed to be giving and not dragging ppl down

I agree with you. But that's a very problematic premise.

[james_112233]

I've lost a fraction of what you lost around £13,000 gambling ( a lot of money to me ) playing roulette back when I was in university.

I have come a long way from that and don't gamble in any way now. I seeked help which also involved completely cutting off from a rich friend with a £500-1000 a day addiction who introduced me to casinos in the first place.

I certainly understand the value of money now. When I was gambling even buying an item for £5 felt expensive as I would rather gamble it.

[MathProfessor]

Originally Posted by saintx

i also gamble but i gamble the smart way

The only smart way to gamble is to not gamble at all.

Unless you have a legit edge, in which case you're just robbing the casino, not gambling.

[agent006140]

casino is set up to rob us,the longer we stay,the more we lose.

[Thermal]

There is a simple rule: immediately indicate the amount that is ready to lose. And in no case do not cross this line.

[james_112233]

Originally Posted by Thermal

There is a simple rule: immediately indicate the amount that is ready to lose. And in no case do not cross this line.

That theory never works.

The impulse to chase losses is far too intense.

[rsot]

Originally Posted by james_112233

That theory never works.

The impulse to chase losses is far too intense.

It is tough to keep this principle - the impulse to chase is intense, agree...lot of self-control needed

[Frodo]

Originally Posted by Kashmir

Hey all,

I used to have a job that made a lot of money (to me at least), about $130k per year. I saved up for 4 years but now unfortunately have nothing to show for it. I invested about $50k into a single stock one day prior to an earnings announcement; the earnings were terrible and the stock plummeted ~33%, so I lost $15k in that one day.

Next, I tried to build a crypto mining rig right at the peak prices (BTC $18k) and that failed miserably, so there went another $30k.

The remainder I lost due to a gambling addiction, probably about $80k in brick-and-mortar casinos and $40k online.

In conclusion, I have now learned my lesson and understand the value of a dollar. You work hard for your money, so don't give it away kids! Make conservative, informed choices and do your homework before any type of investing!

Just my 2 cents. Have a good one guys!

drinking addiction?

[tmastermind]

House always wins! That’s always the Moto I remember...

I feel thankful for never having a gambling addiction to any level that has been described here. I think the worse I’ve lost to gambling was to fruit machines back in my uni days and that was prob anywhere between £5 -£20 and losing that amount as a student felt soul destroying so I can’t even imagine what £100, £1,000 or £10k must of felt like to lose in a simple whim or turn of well whatever it was...

Regardless health before wealth I always say... yes money is necessary and it’s nice to have in a quantity that can make us secure and give us what we need and some of what we want but like gambling, money or the pure pursuit of, will always lead down a path more injurious things...

[StealthHarry]

Sh#t happens for better self control keep intermittent fasts - depriving yourself of your most basic need Food, will have a helluva affect on your mind and set things straight

But most importantly sh#t happens don’t swear it

[tsheikh]

as long as you took that as a lesson and don't make the same mistakes again...I think that's the most important thing. Money comes and goes, but to not learn from your mistakes would be the worst thing you can do.
As the saying goes..."you win or you learn."

And I agree with the posters above me...no need to take pleasure in other peoples' misfortunes. If anything, its more of reflection of the person himself/herself if they take pleasure in other people's failures.

[Allurre07]

Originally Posted by tsheikh

as long as you took that as a lesson and don't make the same mistakes again...I think that's the most important thing. Money comes and goes, but to not learn from your mistakes would be the worst thing you can do.
As the saying goes..."you win or you learn."

And I agree with the posters above me...no need to take pleasure in other peoples' misfortunes. If anything, its more of reflection of the person himself/herself if they take pleasure in other people's failures.

Indeed, it's all a form of feedback we should heed to determine how to next best move forward.