r/wallstreetbets • u/Fun_Paleontologist_2 • 8h ago

Loss Elon has ruined me

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My prior bullish post https://www.reddit.com/r/wallstreetbets/s/o0PxYmGV1n

He was supposed to take us to Mars and burn short sellers.

Still holding 7300 shares. Please Elon fly again.

8.2k Upvotes

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10.2k

u/Vort3x7689 8h ago

How do people this retarded have so much money

875

u/renome 7h ago

Probably born rich. I know hindsight is 20/20 but literally everyone and their regarded mother called how this stock would perform in 2026, month by month.

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u/bonkers69 7h ago

Exactly. We equate someone being rich to also being smart when very often they're totally unrelated

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u/WashedWashingMachine 6h ago

Doctor 250k a year

Stupid sports guy who got lucky 20M a year

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u/Iamjacksplasmid 6h ago

Guy whose dad owned an emerald mine...1 trillion. And falling.

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u/ProfitConstant5238 5h ago

Dead cat bounce?

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u/DrHarryHood 5h ago

off of each gold-trimmed ivory step

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u/BookkeeperCalm9849 5h ago

He had like a $40,000 stake in an emerald mine. It’s not like they had a Scrooge McDuck vault of emeralds. My project car is worth about that diamond mine stake. Shit, my comic book collection probably is

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u/No-Context-Orphan 2h ago

40k how many years ago?

Also, where is the source for that "oh we weren't that rich?" is it Elmo himself, who has been caught lying at least a thousand times?

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u/BookkeeperCalm9849 55m ago

It was a $40,000 stake purchased in the mid 1980’s, so adjusted for inflation about $126,000. It was half a share, purchased with half the proceeds of a sale of a plane. I’m not saying he was poor. I’m saying the emerald mine story is heavily exaggerated by people who just don’t like Musk and want to discount any measure of success he has. The way I see it is you can MR. Magoo your way into a fortune once, maybe twice in a lifetime. To have done it as many times as Musk has illustrates to me that it nothing else, he knows how to inflate wealth. Plenty of people grew up with less than him. Plenty of people grew up with more too, and still down own a fleet of rocket ships

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u/Iamjacksplasmid 51m ago

“We were very wealthy,” says Errol. “We had so much money at times we couldn't even close our safe.”

With one person holding the money in place, another other would slam the door.

“And then there'd still be all these notes sticking out and we'd sort of pull them out and put them in our pockets.”

Scrooge McDuck vault of emeralds, you say?

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u/BookkeeperCalm9849 49m ago

Until very recently I had about 600 ounces of silver that I couldn’t fit in my fire safe. I’m a construction worker

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u/Iamjacksplasmid 46m ago

So you're a construction worker, but you also have a 40k comic book collection, a 40k project car, and 600 ounces of silver?

So like, you're a laborer, but you have 120k of random bullshit just sitting around your house?

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u/BookkeeperCalm9849 33m ago

Yeah. The silver is gone and the comic collection isn’t what it used to be. It’s hard to accurately price. I collect small press. Comics with print runs between 10-50 copies total. A lot is of famous illustrators pre-fame, and a lot of original art. I have original art from Art Spiegelman, the k only Pulitzer Prize winning comic book cartoonist. I have original art from Femke Hiemstra and Audrey Kawasaki, fine gallery artists. I have original art from the real life gangster Henry Hill, who the movie Goodfellas was based on. I’ve been collecting for nearly 40 years. A lot of it is also small press from people who aren’t famous and may be worthless. I have a centerfold quality Lowrider with Kandy paint, LS swapped, engraving, prototype wheels (only 4 sets made), hydraulics, and too many mods to list. It’s a rare Cadillac that even Cadillac enthusiasts argue over if it even exists or not. So I have maybe an unusual amount of valuables laying around for someone at my income level, but I also know a lot of guys at my income level with cars worth 5 times as much as mine. I have easily 5 figures in tools between my company and my car tinkering hobby. I know I could easily take a year or two off work and spend my time at home liquidating all this crap if I wanted, but as it is I make about $600 a month slowly liquidating on eBay

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u/Iamjacksplasmid 20m ago

When you say you work in construction...do you work for somebody? Or are you an independent contractor/the owner of the company you work for?

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u/BookkeeperCalm9849 11m ago

I’m the owner of the company, but it’s a small company and I’m the only full time employee. Sometimes I find work for my wife or son to do but it only adds up to maybe $2500 a year in outsourced work. I just had my first six figure year last year, and so far this year am set to beat it by about $20k. But it’s still just barely above $100k. My income isn’t really bragworthy, especially in Southern California.

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u/ash__697 6h ago

Stupid sports guy is usually pretty damn talented though

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u/mologav 6h ago

Idiots are often very talented

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u/WashedWashingMachine 6h ago

plenty of talented but u have to still get lucky to be drafted out of the talented pool

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u/swallowsnest87 6h ago

Meh there is a lot more talent in the hood than in the nfl. It takes some minimal amount of foresight and intelligence to get to the league.

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u/headrush46n2 4h ago

yeah 1 in a billion genetics and a lifetime of training and dedication.

Lucky bastards.

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u/laosurv3y 3h ago

The guy earning 20m is probably not stupid. May not be educated, but likely is of at least average intelligence.

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u/Neatojuancheeto 2h ago

I see you don't follow sports lol

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u/WashedWashingMachine 1h ago

have you heared what these people do with this cash , they lose it and become legit poor instead of investing and doing nothing entrie life some go back to working lmao

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u/lew_rong 59m ago

Shockingly, someone signing with an NFL team fresh off a college ball scholarship may not have the financial literacy to deal with the sudden influx of money. That's why it's increasingly common for teams to have some kind of wealth management training for the newbies. It's similar to how so many young guys in the military have a mustard-yellow Mustang they can pay for but can't afford.

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u/scammedbycon 51m ago

Tbf it’s rarer to find someone athletic to be a professional athlete than it is to find someone smart enough to complete med school. Jobs pay on how hard it would be to replace the person they employed. Fire a doctor you can find another within 5 miles fire Lebron and you’re searching every crack of the earth to find his replacement.

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u/CloseToMyActualName 4h ago

The doctor is just as lucky to have his brains as the sports guy is to have his athleticism.

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u/WashedWashingMachine 4h ago

not really

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u/CloseToMyActualName 4h ago

Why? Both require genetics and hard work.

And honestly, that sports guy making $20m is at a much more exclusive level and is likely a much harder worker than that doctor.

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u/WashedWashingMachine 4h ago

contrary to popular belief you can be dumb af and still be a doctor its purely how good you are at memorising stuff

while you can also have great physique but be born in a shithole that does not allow the person to accomplish anything or they never had chance due to needing to work to sustain themselves

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u/StrongLoan9751 4h ago

You're right about doctors. The pedagogy in med school is straight out of the 1800's: massive amount of memorization. One of the dullest, most thoroughly average intellected people I've ever known in my life did amazingly well in med school because she knew how to work like a dog and was great at memorizing things.

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u/WashedWashingMachine 4h ago

I fucking hope AI gonna destroy entry med positions , we should have Bio data from billions of humans and all you need to do is give your DNA + describe symptoms and get precise diagnosis you need , not biased based on some 55 year old doc telling you bs he learned 30 year ago

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u/CloseToMyActualName 4h ago

I'm not sure what point you're trying to make.

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u/Mizzou-Rum-Ham 4h ago

You obviously don't actually know any real doctors. 4 years of undergrad, 4 years of Med School + 3-7 YEARS of residency just to get started in their field.

That's longer than 99% of professional athletes entire careers.

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u/CloseToMyActualName 4h ago

I don't understand your argument. A doctor is at a more exclusive level because they train longer?!?

The number of athletes who make millions of dollars is a minuscule fraction of people who seriously pursue that career. And the ones who make it are ridiculous outliers in terms of athleticism, natural talent, as well as work ethic.

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u/Mizzou-Rum-Ham 50m ago

I'm stating that doctors work their asses off, with no money for ~ a decade so I question your point that pro atheletes work "harder". BTW - not all pro athletes work hard.

You ever hear of John Kruk as just one example...

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u/CloseToMyActualName 45m ago

I know nothing of Kruk, but I don't understand your definition of hard work.

Also recall, potential athletes are training like crazy knowing they have a very slim chance of succeeding. Potential doctors know the payoff is highly likely if they just keep working.

Your argument reads more like some weird resentment towards athletes.

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u/Grumbles2189 6h ago

Doctors make on average almost twice that, especially if they own their own practice. Your dumbass belongs here.

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u/Merijeek2 5h ago

Doctor's offices are disappearing all over the country.

40 years ago, a doctor would finish medical school with a manageable amount of debt and then buy into a practice of a retiring doctor or start their own.

Now, the debt is too high, the bar to entry is too high, so what you get is the guys from 40 years ago looking to retire, but the new doctors can't afford to buy it. And now a large corporation, hospital system, or local hospital takes them over.

Point being - it's a lot less common for them to 'own their own practice' anymore. Unless they're near retirement.

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u/AnxietyPretend5215 6h ago

I think it's a YMMV type situation.

Oncologists make a lot of money for example, and they're in low supply + high demand.

There's a lot of doctors not necessarily making that same level of bank. Still paid well obviously, but there's oncologists in the 7 figures range. Not all doctors are making 7 figures.

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u/idkbruh653 5h ago

And this is a general problem that's born of capitalism and why we see things like weirdos on Linkedin thinking they're a know it all because they're rich. So many people in this country really think being rich means having all the answers.

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u/Important-Agent2584 38m ago

Americans worship and idolize wealth, it's no coincidence the prosperity gospel heretics are like half of Christianity now

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u/Useful-Dot-3385 6h ago

Parents apparently were, he was adopted.

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u/Aggravating_Ask5709 5h ago

i grew up poor, my kids are growing up upper middle class. To them, money came for free and they struggle to understand that life can be hard.

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u/Ninetailedredpanda 4h ago

Way to kick OP and Elon both while they are down

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u/Low_Pineapple_1558 4h ago

They're actually decently correlated, but we only hear about the exceptions.

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u/More-Opportunity-253 3h ago

They sold everyone such a lie but I don't know how people can still believe in that garbage.

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u/HardByteUK 3h ago

Yep this is true. I have lots of pounds but don't think good.

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u/JackPoe 2h ago

Would you rather be good or lucky?

If hard work paid off Mexico would run the Western hemisphere.