TAA wrote:
His account is at $48 million now. He's realized $13.8 million. Unreal
Congrats, Dude walked into the casino 9 whiskeys deep after a line of coke and put it all on double 0 and got lucky. You can make money gambling on stupid crap like GameStop stock and bitcoin. But for every dollar someone makes there is going to be a dollar lost for those holding the bag when reality hits. There is no financial reason why Gamestop stock should be worth anything above $0 since they don't make a profit and their business model is garbage in today's world.
Hopefully, this guy is only doing the gambling with a small amount of his portfolio which is for speculative purposes and the rest is in more sensible and safe investments. But I think history has shown us that the gamblers just throw their winnings into the next risky investment until they end up broke.