A few posts ago we made the point that we should all count our lucky stars that we were not some newly middle class guy in China who leveraged his home to play the stock market.
If however you are that guy and you are reading this know that at the very least you have our sincerest sympathies. Though that doesn’t pay the margin call we understand.
(From The New York Times)
In some cities, students have dropped out of university, unable to give up their habit of tracking their investments, according to local news media. Wealthy investors have sought counseling, struggling to come to terms with the enormity of their losses after stock prices plunged. In response, doctors are advising traders to take up new hobbies and spend more time with family and friends. Some medical experts say high-risk groups, such as the elderly, the physically infirm and emotionally unstable, should consider withdrawing from the markets altogether.
Not terribly bad advice for traders of any nationality.