I bought Bitcoin near the tops around $17K. Put $250K of my life savings in it expecting to become a rich man after seeing James Altucher's ads everywhere. I also refinanced my house and took out some credit card debt to buy into the rally. Needless to say I am near bankrupt. My wife has no idea the trouble we are in. I had a gambling problem back in college and the bitcoin bubble helped to resurface my previous addiction. I plan to tell my family of the losses I have had this past month. My wife was always the savvy one. She saved money. She made the big bucks. Then I blew all of her hard work on bitcoin. It's likely I will be getting a divorce. Somebody please tell me bitcoin will rally again. I can't stand to lose all of this money. I plan to go back to church and pray to Jesus that everything will be alright. I've talked to a lawyer and we plan on suing James Altucher and all of the bitcoin ads on Facebook the past month. Hopefully I will then recoup my losses and my wife won't be so disappointed in me. Somebody, anybody, please HODL me.
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Thomas Bachrach, CFA is the founder and principal of PFH Capital, a single family office and financial consultancy. He received his BA in Economics from Cornell University in 2005 and became a CFA charterholder in 2014. He resides in the Philadelphia area with his wife and two young girls.
Martin Vlcek is a full-time investor and analyst who has been actively investing and managing money for more than 15 years. Martin has an Economics degree. He currently works for an asset management company BH Securities, www.bhs.cz. Ideas and information expressed in his articles on SeekingAlpha are his own and don't represent an official BH Securities opinion. Martin is not an investment advisor. Information published in his articles and comments should not be viewed as investment advice or endorsement to invest in the financial instruments mentioned. Martin’s investment philosophy is to hold a truly diversified portfolio of investments across asset classes with low or negative correlation and a positive carry if possible. His primary stock investment focus is on undervalued stocks with upcoming catalysts and a favorable reward-to-risk ratio.
Martin became a full-time investor and money manager after a 15-year career in online marketing where he was one of the pioneers of the pay-per-click search. Martin later held managerial positions at several Fortune 500 companies and also managed his own startup company.
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I am an experienced individual investor who has been trading merger arbitrage stocks and options since the 90's. I am a writer with a Master of Science from Northwestern University and I truly enjoy writing articles about the stock market. I try to look for opportunities where the odds are in my favor and there is a definite edge. On Seeking Alpha my articles will aim to provide insight and favorable risk/reward for the readers.However, I am not an investment advisor so any recomendations or ideas I write about in my articles, blogs, or comments shouldn't be taken as investment advice. I recommend using my writings as a starting point to which you should add your own research or that of an investment advisor.
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-David Sklansky, "The Theory of Poker"
I am young investor who has invested in individual stocks since late 2011. I am living in central Europe. I hold masters in computer science and I work as Security Software Engineer for large corporate software company, that will remain unnamed.