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Cloudflare took down our website after trying to force us to pay $120000 within 24h
(robindev.substack.com)
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this post was submitted on 26 May 2024
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I used to be in credit risk for a very large stock market company.
Calling the bottom of the market is the same as betting big and getting 21 in blackjack.
Super cool when it happens, but not skill. The number of grown men I had to hear crying because they were dollar cost averaging down to the bottom until they went broke still disturbs me.
I’m happy this worked for you, but it was not skill.
You can't go broke with 1x leverage, and I bought $AMD all the way down from $100 to $70
If it went to $50 I wouldn't go broke, if it went $1 I wouldn't go broke. I just would have missed a bigger opportunity
If it goes from $100 to $1, there’s not much left to go before bankruptcy/delisting. Say hello to swaths of BBBY bag holders… oh wait, no bags left there!
It went to $2 in like 2013, close to bankruptcy. But it didn't go bankrupt, and that's all I'm betting on. My point is you don't need to care about where the bottom is as long as you're buying the dip.
Especially if you are just buying $VTI which won't go to $1 any time soon.