GORDON GEEKO LIED, GREED IS NOT GOOD

By Demetrius Carrington

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I have been buying stocks for the last twenty-five years and if I had to guess I’m probably up. I have had some good days and of course some bad days but all and all I am an investor, and it comes with the game.


The last few months on the stock market have been crazy; the crypto currencies have been a driving force on the big boards. I have seen Rappers, dudes that look like Pimps giving classes on crypto currencies and everyone in between so I decided to sit this one out.


My Friend Larry is a brilliant Man; he is a self-taught millionaire who has made a shit load of cash in Real Estate and on the markets. I usually start my day with a 5am call to Larry, he is my number one adviser. The reason I like him so much is Larry is a fucking winner so when he speaks, I listen, plus we’ve been friends for twenty years.


On one of our 5am calls Larry says “Carrington, we must buy some AMC stock" and without question I said "let us do it!" I bought 10 contracts on an AMC $120 Call that cost me about $6,000. Just like he said it would, it took off.I road it to a valuation of $235,975.00.


At that point I should have sold the option, but I did not. I kept hearing Gordon Gekko’s voice from the movie Wall Street, in my head saying “Greed is Good." I had already decided that I was getting my lady friend a Range Rover for her birthday.


I broke the first rule in business...I started spending money before I got it. I kept saying when it gets to $500,000.00 I’m selling. And just like that the bottom fell out. As fast as it came it went. Greed got the best on me on this one. It was an awfully expensive learning lesson. But bigger deals are coming, and greed will not get me again I guarantee.


Larry and I do not talk much about our wins, we just assume that everything will go our way it’s just how we think, and I did not tell him that greed got the best of me so I’m assuming he thinks I did well also.


On our 5am call this morning we did the usual; we prayed, we shared words of motivation and vented about Women.


Just before we ended the call, I asked him what he had planned for the day, he said "I’m going to look at that PORSCHE today." After about five seconds of silence I yelled out “Fuck you Larry” and hung up.


Lesson learned; Greed is not good…