Oh my gourd, I am financially ruined (agricultural futures)
I have lost everything, and I'm not sure how to continue. This summer I invested $17,500 (six months salary and my entire life savings) into ornamental gourd futures, hoping to capitalize on this lucrative emerging industry. After watching a video about Vincent Kosuga and his monopoly on onions, I decided I'd try to do something similar with another vegetable. I did some research and found out many agricultural forecasters expected this year's gourd yield would be far smaller than the past, due to deteriorating soil conditions in central Mexico and a warmer-than-average spring. At first, demand soared around Halloween and prices skyrocketed, but the gourd bubble burst on November 12th. Unfortunately, the coronavirus caused a massive drop-off in demand due to fewer families decorating their tables for thanksgiving, and prices plummeted. I had invested early enough that I thought I would still be fine, but then on the morning of December 2nd, a new email in my inbox caused my stomach to turn into a pretzel. The massive gourd shipment from Argentina, scheduled for early March, had arrived. I was planning on selling off my futures right before this, in February, but this ruined everything. To top it off, the gourds in this shipment were absolutely gargantuan, some topping 4 pounds each, causing the price-per-pound to drop like an anchor into the range of 6 cents per pound. I am ruined.
I have lost everything, and I'm not sure how to continue. This summer I invested $17,500 (six months salary and my entire life savings) into ornamental gourd futures, hoping to capitalize on this lucrative emerging industry. After watching a video about Vincent Kosuga and his monopoly on onions, I decided I'd try to do something similar with another vegetable. I did some research and found out many agricultural forecasters expected this year's gourd yield would be far smaller than the past, due to deteriorating soil conditions in central Mexico and a warmer-than-average spring. At first, demand soared around Halloween and prices skyrocketed, but the gourd bubble burst on November 12th. Unfortunately, the coronavirus caused a massive drop-off in demand due to fewer families decorating their tables for thanksgiving, and prices plummeted. I had invested early enough that I thought I would still be fine, but then on the morning of December 2nd, a new email in my inbox caused my stomach to turn into a pretzel. The massive gourd shipment from Argentina, scheduled for early March, had arrived. I was planning on selling off my futures right before this, in February, but this ruined everything. To top it off, the gourds in this shipment were absolutely gargantuan, some topping 4 pounds each, causing the price-per-pound to drop like an anchor into the range of 6 cents per pound. I am ruined.
Jeff Bezos vs Elon Musk
Jeff Bezos
-Bald
-Exwife took half his networth
-Second richest person
Elon Musk
-Grew back full head of hair
-Has girlfriend, allegedly had a threesome with Amber Heard and Cara Delevingne
-Richest person
TSLA > AMZN
Jeff Bezos
-Bald
-Exwife took half his networth
-Second richest person
Elon Musk
-Grew back full head of hair
-Has girlfriend, allegedly had a threesome with Amber Heard and Cara Delevingne
-Richest person
TSLA > AMZN
She runs her hand through your thinning hair and laughs. βWhat?β you ask absentmindedly. Youβre looking at Futures, and youβre surprised to see them red.
βI want you to play with me.β She says it playfully, but the single ounce of you that isnβt totally aloof realizes she said this in earnest. And so you do. You throw your phone, and you pin her to the sofa, then the ground. You both roll about, wrestling, like lion cubs. Kissing, lightly biting. Sometime later, you both stop, breathing hard. She grabs an open bottle of red wine, and you pass it back and forth. Eventually she says, βI want to do that more.β
But youβve already found your phone again to check Futures. Still red. βUh huh,β you say, distracted. She stares at you for a long moment, but you donβt realize it. Silently, she gets up and goes to bed, and you donβt say a word because you donβt notice.
She hasnβt left you yet, but she will soon.
Unrealized losses.
She runs her hand through your thinning hair and laughs. βWhat?β you ask absentmindedly. Youβre looking at Futures, and youβre surprised to see them red.
βI want you to play with me.β She says it playfully, but the single ounce of you that isnβt totally aloof realizes she said this in earnest. And so you do. You throw your phone, and you pin her to the sofa, then the ground. You both roll about, wrestling, like lion cubs. Kissing, lightly biting. Sometime later, you both stop, breathing hard. She grabs an open bottle of red wine, and you pass it back and forth. Eventually she says, βI want to do that more.β
But youβve already found your phone again to check Futures. Still red. βUh huh,β you say, distracted. She stares at you for a long moment, but you donβt realize it. Silently, she gets up and goes to bed, and you donβt say a word because you donβt notice.
She hasnβt left you yet, but she will soon.
Unrealized losses.
Iβm a simple guy
Iβm a simple guy. I donβt know about all these fancy βfinancial instrumentsβ or βmarket dynamicsβ or βwhere the clit is.β
I like the stock, I buy the stock.
Iβm a simple guy. I donβt know about all these fancy βfinancial instrumentsβ or βmarket dynamicsβ or βwhere the clit is.β
I like the stock, I buy the stock.
I used to be a real ad