Can't believe. This guy's been doing options for 20 years since 1999. He's a regular contributor on Marketwatch telling people why options on crude has never failed investors. And he's a regular contributor to CNN, Wall Street Journal, CNBC, etc. And he has published his book year after year "Complete Guide to Option Selling" on sale on amazon.ca. How can he not know the potentially unlimited risk of naked short options??!!!
He basically went all-in, fully leveraged on a naked short call on CL futures and got into a "short squeeze" due to a rogue wave and it was apparently so intense so fast that it wiped their entire fund and got margin-called by their broker so now not only he lost every single penny of all of 290 of his clients, his clients now even owe money to the broker of hedge fund.
It is not about big brains. It is about arrogance. Stay humble no matter how good you are. Arrogance can kill you financially.
Extremely well said.
我相信他一定認為，會出現那種幾乎不可能出現的走勢機率只有 0.000001%，所以重押所有的資金簡直就是 easy money to rip big bucks。如果真被他押過關了，接下來又是上節目，大肆宣揚, "Look how well my fund is doing and why it is so good to invest in my fund."
只可惜，策略中的死門，no matter how small it is, 只要被壓中了，必死無疑。
樓主
發表於 2018-11-18 20:00:38