See, the question for Bigbol, and not just him but everybody else who decided to go "all in," or almost "all in," (referring to all of those whom Mike judged as f***** idiots, and I understand why Mike called them that, really to make a point about not throwing all your eggs into the proverbial basket) IS-
Bigbol (and the others to whom this applies)-
WHY IN THE FRIGGIN' WORLD WOULD YOU EVER TAKE OUT $100,000 OF THE EQUITY IN YOUR HOME AND THROW IT INTO THIS (or any) INVESTMENT?!!!
I'll tell you why-
BECAUSE OF THE MARKETING!!
Bigbol (and all the others who recklessly threw their retirement, children's education, etc.) into this was because of-
HOW IT WAS PRESENTED-
Yes Mike, we know that investing has a whole host of risks, and yes Mike, we understand that you only put 3% of your discretionary, and disposable BBQ money (you know, the money you could light up in a BBQ and if it fries, your toes are still tapping) into this investment-
BUT MIKE, why do you THINK hundreds or thousands of sheeple that you "presented" this investment to went "ALL IN" which yes WAS reckless-
It is simply because EVERYBODY involved either thought, and certainly presented this investment, as something that would/could FINALLY "buck" the "system" as we would say- Finally create that ever-elusive investing "loophole" that Indiana Jones and everybody else throughout history have been on a Quest for since the beginning of time (or at least since our ancestors were kicked out of the Fertile Crescent Garden)-
In other words, they were-
1) taking a highly risky but highly potentially profitable investment vehicle that provides a ridiculously favorable amount of leverage (Forex)
2) with a trader who purportedly has a stellar track record (not for 3, 5 or 10 years, but supposedly a jaw-dropping record over a tenuous matter of months) and then
3) marry that with a virtually foolproof STRATEGY of making a low amount of judiciously analyzed and committed to trades over a month's period with
4) a guarantee that no more than 3% of the portfolio would be at risk at any given time
And with this almost foolproof approach (which would lead to covers of Time and Newsweek, and lauded, rewarded and worshiped on MSNBC and other pecuniary talking head outlets) we can virtually legitimately promise (at least put in the Headline) that we have figured out a way to make 100% on your investment in a year, etc. blah blah blah- It goes something like this-
“Discover the Lost Forgotten Secrets of a Jet-Setting International Currency Investor Who Has FINALLY Blown the Lid off the Effortless Wealth Generating Secrets They Hope and Pray the Middle-Class Never Finds Out About!”
So, were people pathetically reckless and decided to throw years or decades worth of wealth accumulation on Black? Yes-
Was there anybody (anybody?) who couldn't resist the Black-Belt Marketing that whipped the unwashed masses into a frothy XXX frenzy that was impossible to resist, and led c(Sorry, couldn't resist the Barnum inclusion)
Hmmm- Not sure what to say next, except, sorry for your losses?