March 4, 2013

The Rise and Fall of Andy Zaky

Philip Elmer-Dewitt:

“How an Internet-trained Apple analyst lost tens of millions of other peoples’ money”

A good, medium-length read about how greed can rob investors of well-earned gains.

Tip to the small-time investor: avoid derivatives like the plague.

Anyone who traded $60 Apple shares for call options only to see the company's shares tank, rather than explode one's investment balance, got what he deserved. Buy long, hold long, sell dear. Don't be dumb.

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Above all, follow Wheaton's Law: don't be a dick.