While I do value it, if there is no financial return technically it is a loss.
It was more of a joke, probably not well thought out.
Oh well.
What's the most money you've lost?
- Thread starter slydevil
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It was more of a joke, probably not well thought out.
Oh well.
It was, by far, not the largest amount, but the fastest loss given the circumstances. Late at night I sat at 2-5 NL poker table at a casino and bought in for the maximum allowed $500. I was first to act and the guy in big blind who won several grands and was ready to leave put $200 blind. I looked at my cards and see KK. Naturally, I went all in. another guy with JJ called me, and the guy with big blind and $200 in already called as well. He had 88 and flopped a set. Since $500 was the maximum I was willing to lose that night and it was pretty late already, it was my shortest poker game.
See, I don't consider this "lost" money. If I did, my total would be much higher. He got what he paid for and a great time. I'm talking about lent money, bad investments, or physically lost money.
I recall one time I had some play money- $7,000, and I entrusted it to a lady I did not know. I did this on the positive say so of a good friend. He told me that this woman could make the money grow, a lot. He said this is how another friend whom I also knew, and his wife were able to vacay in Africa for several weeks. I was not entirely sure about this - I received nothing to acknowledge my deposit, but my buddy was convinced this was a good move. He told me a few months later that my money had grown by a respectable amount. Then he asked me if I wanted any part of it back. I said no, I would like it continue growing.
Maybe a year later I asked him again, and he said this woman had absconded with all of the money that suckers (myself among them) had given her. It made me reflect on how I was played. This was a very similar situation to Bernie Madoff. Bernie did not advertise. His door was not open to new suckers. They had to be recommended by people who had already drunk the kool-aid.
In for a penny, in for a pound- the folks who had invested with Bernie had to believe it was on the level, exactly as my buddy had done. I do not know how much his blind faith ended up costing him. This sorry event has been relegated to the dustbin of history.
Now with these COVID-19 times, scammers are finding new ways to cheat people.
Maybe a year later I asked him again, and he said this woman had absconded with all of the money that suckers (myself among them) had given her. It made me reflect on how I was played. This was a very similar situation to Bernie Madoff. Bernie did not advertise. His door was not open to new suckers. They had to be recommended by people who had already drunk the kool-aid.
In for a penny, in for a pound- the folks who had invested with Bernie had to believe it was on the level, exactly as my buddy had done. I do not know how much his blind faith ended up costing him. This sorry event has been relegated to the dustbin of history.
Now with these COVID-19 times, scammers are finding new ways to cheat people.
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Forget the exact year but I had the choice of buying apple puts or Netflix calls. I chose Apple puts since I thought it was more of a sure thing; at the time samsung was killing apple in the flagship phone area.
Profit of apple puts= 5k
Profit of Netflix calls with same investment = 800k
I was in university at the time so that money would have been an instant life changer. Oh well.
Profit of apple puts= 5k
Profit of Netflix calls with same investment = 800k
I was in university at the time so that money would have been an instant life changer. Oh well.
I lost $23,000 loans to a friend. Spent another $5000 to sue him and get a judgment that I was unable to collect.
Lost $4000 playing blackjack at Rama one time.
This thread is depressing.
Lost $4000 playing blackjack at Rama one time.
This thread is depressing.
I had to think about this -- the answer is $160 that I lent to a former friend who never paid me back.
In retrospect, it was actually money well spent because I learnt a valuable lesson to never lend money to friends because absolutely nothing good can come from it.
Prior to this, I'd lent money out to friends a few times, and to be honest, it was never seamless. There'd virtually always be a day we'd agree upon that I would be paid back and that day would come and the money still wouldn't be paid back, and I'd have to go calling for it, which is humiliating for both parties.
If friends ask you to lend them money, they're doing so because their bills and debt exceed the amount of money they're bringing in. If you lend them money, you've just become one more of their creditors, and you're their favourite creditor because chances are there's no interest on the money you lent out and missing a payment to you will not affect their credit score. So you're at the bottom of their list of people to be paid back.
In retrospect, it was actually money well spent because I learnt a valuable lesson to never lend money to friends because absolutely nothing good can come from it.
Prior to this, I'd lent money out to friends a few times, and to be honest, it was never seamless. There'd virtually always be a day we'd agree upon that I would be paid back and that day would come and the money still wouldn't be paid back, and I'd have to go calling for it, which is humiliating for both parties.
If friends ask you to lend them money, they're doing so because their bills and debt exceed the amount of money they're bringing in. If you lend them money, you've just become one more of their creditors, and you're their favourite creditor because chances are there's no interest on the money you lent out and missing a payment to you will not affect their credit score. So you're at the bottom of their list of people to be paid back.
I'm surprised you lost my at all because in order to lose money you have to open your wallet. When you open your wallet the Queen shields her eyes from the light.
Sorry I look for any excuse to tell that story lol
I am surprised you think the above is a sentence
What are you trying to babble about while drooling all over yourself?
