Once, it went up 120%. Second one in 2011 it went up 200%. If you had a 100k account and shorted VXX with 33K, your account had 100% loss.
I know 10% seems impossible but it has happened twice since 2009 and both times VXX double or more.
There have been 2 corrections of 10% or more since VXX started trading. In one, VXX went up 110%. In the other, VXX went up 200%. If a third one comes, VXX will probably double LOL.
What do you mean by $9 million in assets?
It is in fact hard to believe anyone is investing with this guy given his performance over the past 6 years losing one third of its value.
Ha ha! This is the kind of story that makes me smile! Hope for us all yet. Why would anyone commit suicide when there is such wonder in the world?
No joke- buddy turned 100K into 1 million then into negative numbers from the Swiss Franc thing. For some reason he thinks it's much worse because the stock market is at all time highs- in other words he would feel better if he lost all his money during a market crash. He's in his 30s and is really hung up on the fact that he was essentially set for life and is now screwed (his job situation is not good).
So what can I tell him? I tried the usual stuff (mainly be thankful you have your health) but it hasn't worked.
I hope so too. I think he had about a million bucks, now he has a negative net worth. I know a million bucks isn't much to some of the yahoo posters but to him (and me) it's a great deal of money so to go from 1 million to 0 is pretty painful. He can find temporary work quickly but the healing will be tough.
I know a couple people who went from up hundreds of percent in a year to personal bankruptcy mostly from Swiss Franc. One of them says quite seriously that he plans to commit suicide.
Softness?! Are you kidding lol? The market has gone straight vertical for 6 years, way more than tripled. Softness?! Wow, if there is ever another bear market people like you will get wiped out. Softness?!?!?!
You put 100% of your net worth in? I hope it works out!
What % of your account is that?