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My old law boss taught me everything I need to know about the stock market
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Date: June 22nd, 2026 2:45 PM Author: at-the-ready rose lodge water buffalo I was a new associate at his firm he made millions had sick apartments. Paid me $60k to start and gave me a $5k raise after I accidentally made him $6 million. A true “shitlaw boss” in nyc. He was dating a 19 year old when he was like 50 and she was a smoke show. They went to those car clubs on the west side.
I was 26 and bought a stock back when there was like .50 a trade fees or whatever. I bought a stock and it shot up. I made $40k. He was big in the market and I walked in his office and one thing about him is when he asked about my weekend or life he legitimately cared. I told him I made 40k on the stock.
He asked me, in XO fashion, “is $40k a lot to you?” Not flame. I was like “I mean isn’t that a lot of money?”
He’s like “…no. So you should let it ride. See if it goes up to $200k. Do you wanna be like me or stay like you?”
Three months later it tanked and I ended up with like a $500 loss lol.
My point is don’t listen to anyone else. If $500 is a lot to you or if $5 million is a lot, sell when you can go have a cigar and be happy. Everyone’s risk tolerance is different.
I left his firm and I made $250k in a government job and eventually had to quit because going to work wasn’t worth it anymore even with the health insurance and benefits (still copper PSLF on $300k student loans (after interest of course)). All because I lived like I made $60k a year and invested everything else. Now I’m worth $70 million at 40. It all works out. |
Date: June 22nd, 2026 2:50 PM Author: carnelian bawdyhouse (http://www.autoadmit.com/thread.php?thread_id=5876486&forum_id=2\u0026show=week#49955658) |
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Date: June 22nd, 2026 2:51 PM Author: Know-it-all Alcoholic Church (http://www.autoadmit.com/thread.php?thread_id=5876486&forum_id=2\u0026show=week#49955665) |
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Date: June 22nd, 2026 2:52 PM Author: primrose piazza circlehead (http://www.autoadmit.com/thread.php?thread_id=5876486&forum_id=2\u0026show=week#49955666) |
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Date: June 22nd, 2026 3:08 PM Author: slap-happy therapy national lol. I'm going to be DESTROYED for this take because I'm clearly missing something. but: why do people always talk about either selling all their stock in something and missing out on it mooning, or holding onto it and losing everything as it tanks? it seems obvious to me that there's some equilibrium point where the best move is to say, "wow, I've made a lot of money on this, but I don't want to miss out on MOAR if it MOONS. so I'll just sell half and hold onto the rest."
the intuitive answer is, "people do this all the time but you don't hear about it because they have no regrets." but that can't be the full story because you also never really hear people suggest that when someone is seeking advice on what to do with xyz stock. |
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Date: June 22nd, 2026 3:47 PM Author: at-the-ready rose lodge water buffalo Agreed. This is a good “by the book plan” but if you have $100k and sell half and that would have been a million but now you only have $500k that’s painful too. (http://www.autoadmit.com/thread.php?thread_id=5876486&forum_id=2\u0026show=week#49955764) |
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Date: June 22nd, 2026 3:49 PM Author: slap-happy therapy national see to me that doesn't sound painful at all, idk, I mean the numbers are different for everyone but I feel like the peace of mind would outweigh the FOMO (http://www.autoadmit.com/thread.php?thread_id=5876486&forum_id=2\u0026show=week#49955767) |
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Date: June 22nd, 2026 3:54 PM Author: at-the-ready rose lodge water buffalo No I agree. Like I said in my op “whatever you think is right.” If that will keep you mentally sane do it.
Fun story. Recently this isn’t a lot of money to me anymore, but I bought $20k of MU during the tariffs at $64. I’m teaching my wife stocks so it was in her account, it went up to $74 and I was like awesome you have a few K to goof around with sell. In my account I had like $2k of spare change. I bought MU as well around like $67.
It went up to $1k a share from $64 which would have been like $200k. The amount I had in my account it went up like $1k I was like ah we already sold the big account so I might as well take my $500 and have a nice night at dinner. If I held that it would have been like $10k.
So you’re right. In hindsight I should have hel even my small portion. But at the time I thought that was right because I’m still in the poor mindset where $500 is a lot (13 short years ago I was making $60k). So that’s on me to get outta that mindset.
But my point is get out when YOU feel good about your gain or the losses are getting too big. Don’t listen to XO because not everyone has an inheritance or parents money or is poor. Everyone is their own person |
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Date: June 22nd, 2026 3:57 PM Author: slap-happy therapy national crrr I agree, heavy on the "don't listen to XO" :) (http://www.autoadmit.com/thread.php?thread_id=5876486&forum_id=2\u0026show=week#49955785) |
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Date: June 22nd, 2026 3:58 PM Author: Very Tactful Bonkers Library Pozpig I did this with UAVS and META. Ofc I didn't lose as much as I would if I held with UAVS and I didn't get as much as I would if I held with META. So it goes. (http://www.autoadmit.com/thread.php?thread_id=5876486&forum_id=2\u0026show=week#49955787) |
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Date: June 22nd, 2026 4:01 PM Author: at-the-ready rose lodge water buffalo Right. But I think we all get fooled by “Instagram.” “Oh always hold!” Or “sell”!
Hey if I made enough on a stock to pay for my vacation and I would be happy just fuckin sell and enjoy vacation. If paying for my vacation doesn’t make me happy and I think it’s better off to hold for wealth and I can handle the “$10k gain hold and lose $1k possibly” then hold. It’s all what your risk tolerance is.
It’s comical to look at the poasts on this board from someone with an $15mm inheritance to judge someone with a dad who was a garbage man who made $5k and is happy with it. |
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Date: June 22nd, 2026 4:04 PM Author: slap-happy therapy national 💯💯
this might be a stretch, but I wonder if this aligns with a tendency for positive vs. negative thinking even more than risk aversion vs. tolerance. I'm very much a "look on the bright side" type of person IRL, perhaps annoyingly so, so maybe that's why the FOMO aspect of selling some doesn't seem so bad to me compared to "hey I have this much in my pocket" |
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Date: June 22nd, 2026 4:13 PM Author: at-the-ready rose lodge water buffalo 18000. I can see this. Being some galavanting Chad who is screaming on his way to the bar in his new car after he just made $50k vs some creepy third world weirdo in his basement scanning Reddit and frantically typing “don’t sell $50k it will go to $700k based on my analysis I’ll make a YouTube about it!”
You’re right. |
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Date: June 22nd, 2026 3:11 PM Author: Arousing topaz menage giraffe 180 inspiration. GOALS (http://www.autoadmit.com/thread.php?thread_id=5876486&forum_id=2\u0026show=week#49955719) |
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Date: June 22nd, 2026 3:58 PM Author: lake point My strategy is to take a handful of assymetrical upside bets, put as much on them as you're comfortable gambling, and put the rest into boring index.
When number goes up, keep asking yourself "would I still buy at this price?" because functionally that's what you're doing, every day you're making a decision not to sell. (Ignoring taxes obviously). Identify the ceiling with comparable, mature firms. At some point, you'll say this has 3xed or 4xed or 10xed , do I really want to continue risking the entire pot on the chance that it goes up another 2x or 3x? You can always lose the entire pot. Look at Under Armour or Allbirds or any number of examples.
When you hit that point, sell most of your shit but keep enough to make life interesting.
Also never chase anything thats a hot stock on financial twitter or reddit because you're already coming in late. |
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Date: June 22nd, 2026 4:02 PM Author: at-the-ready rose lodge water buffalo Agreed. I would only “gamble” with money you’re willing to lose. That $40k gain to me I wasn’t willing to lose but I listened to a millionaire for stock advice when we weren’t in the same boat and I got burned. Set me back maybe a few years but everything happens for a reason (http://www.autoadmit.com/thread.php?thread_id=5876486&forum_id=2\u0026show=week#49955800) |
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Date: June 22nd, 2026 4:08 PM Author: lake point Yeah, the first 100K, or 500K, is the hardest to come by. You have to take the risk, but the individual cost of getting it wrong is more significant because it sends your ass back to square 1. (http://www.autoadmit.com/thread.php?thread_id=5876486&forum_id=2\u0026show=week#49955819) |
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Date: June 22nd, 2026 4:14 PM Author: at-the-ready rose lodge water buffalo Oh yeah that $40k I mentioned in the op set me back “trading” maybe 2 years although I wouldn’t have left and went to government so everything happens for a reason. (http://www.autoadmit.com/thread.php?thread_id=5876486&forum_id=2\u0026show=week#49955838) |
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Date: June 22nd, 2026 4:45 PM Author: Splenetic medicated box office fanboi (http://www.autoadmit.com/thread.php?thread_id=5876486&forum_id=2\u0026show=week#49955919) |
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Date: June 22nd, 2026 4:57 PM Author: lilac mad-dog skullcap Height of your boss? (http://www.autoadmit.com/thread.php?thread_id=5876486&forum_id=2\u0026show=week#49955986) |