Would you leave your partner who secretly traded shares and now bankrupt?

4
Contrary to how many people were feeling yesterday when the stock market dropped drastically, I was feeling rather pleased with myself for making good investment decisions. I'll be going overseas to put my feet up in the air for a few days before getting down to business.

But this picture made me feel sad.



Did he lose all his money? Is he going to be a bankrupt? Will his children have to quit school to get full-time jobs? Is his family going to have to live on the streets? Will his wife leave him?

With the availability of "leverage" which essentially means borrowing to trade, people can make catastrophic losses that they can't even afford to pay for in their lifetime. But those are the people who borrow to trade hoping that they can win money that they can't imagine they could ever have in their lifetime. If there's a possibility of winning big, then definitely there's a possiblity of losing big.

For the discussion's sake, assuming he traded secretly because he knows his wife would object, I wouldn't blame his wife for leaving him. Trading beyond one's means is irresponsible and the secrecy is "financial infidelity". I will feel sorry for the man but he has to live with the consequences of his actions - just as we all have to in life.

4 comments:

jc said...

Greed kills a person. I won't take pity on this people.

David said...

Yu-Kym,

No doubt there are people trading futures or currencies who either lost big or made big profits.

Using money one cannot afford to risk is gambling. One might as well blow an entire pay check at a casino.

How a spouse or gf or family might react to an irresponsible investor might well depend on that persons history.

David

peter said...

i feel i must ask if there is hidden meaning to putting your feet up in the air for a few days?

David said...

Peter,

Most of Ms. Loh's business travels involve airline travel.

Then again I suspect Yu-Kym does put her feet up, nice and comfy at the end of a business day when away from home.

I know I do the very same and will be doing such again very soon.

David

God will either give you what you ask, or something far better.

-- Robert Murray M'Cheyne