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0 pointsmisiti37805y ago0 comments

ya sure, i get it .... but he took a bet and won, He could have easily lost everything. For every winner in the options game there are probably 99 losers. It's call survivorship bias.

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afterburner5y ago

He could have lost 50k, his initial investment, and considering he's young, and has a house, this would not represent ruin for him.

baby-yoda5y ago

> and has a house

he rents [0]

[0] - https://www.wsj.com/articles/keith-gill-drove-the-gamestop-r...

notahacker5y ago

Sure. He was smart, understood investment and had 50k to spare. And at least a bit lucky. This does not apply to most people who want to be him.

Much as the narrative that this is the little guys 'crushing Wall St' sells more clicks than a lot of betting going on with plenty of Wall St winners and plenty more little guy losers, mainstream media really ought to know better. (That said, I think this particular profile is a lot more illuminating than a lot of the rubbish being written)

arcticfox5y ago

> For every winner in the options game there are probably 99 losers. It's call survivorship bias.

Sure, if people are taking aggressive positions. I'm not sure his initial YOLO was that insane, it had a fair chance of being OK. (In this unique case, the massive naked short position turned out to be the insane play.)

But it's approximately a zero-sum game, so it's not irrational in general to be betting on options.

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