SG Couple lost 2 million dollars on UST LUNA Crash!
details in their blog over here
They actually have a 4 mil portfolio and 1 mil on leverage… so their equity is about 3 mil.. losing 2 mil in crypto is really big as 2/3 of their equity is wiped out… GG
Previously bird bird got ask me why I never take bank loan to buy more Alibaba and this is the reason why… I can afford to lose my entire portfolio on MooMoo/Tiger in the freak accident that Alibaba crashes from $80 towards $0… in between they will margin call and liquidate me.. even if I lose my entire sum in the brokerage accounts I am fine.. my lifestyle doesn’t change.. I still collect my rents monthly and I still go for my hiking daily… if I lose everything on Alibaba I probably wouldn’t even touch stocks again lol
If I took a bank loan of say $100,000 or $200,000 to buy more Alibaba shares… then later on I get wiped out.. my brokerage account is still zero yet now I am in debt towards the bank! That would be a nightmare as I would need to go back to the workforce.. I have been self employed since 2012… so I really do not know how to look for a job or work a day job…. that’s why I will never borrow from the bank… only play what I can afford to lose.. which is what I put in my Tiger/MooMoo
Today HST is up 4% and 9988 is up 5% as Shanghai reaches 3 consecutive days of zero covid.. this allows them to open up.. and their goal is everything back to normal by mid June! So like I said… 1st half economy was bad for china but 2nd half things should be back to normal… thus the rally in the Chinese markets.. this is a big divergence from the US… as US continues to sell down … TSLA fell 6% last night and the $700 support seems to still be holding up…
The problem with TSLA now is there is so much uncertainty on Elon Musk’s Twitter deal… it seems to me that Elon is no longer keen to acquire Twitter.. and that he is just giving excuses after excuses to unload his TSLA shares…
Sometimes I dun understand why people who are married with kids they still run so focused portfolios…
This guy also married with kids.. lost everything in the UST LUNA crash also…