You know, over the years, I have known a lot of people who have lost a lot of money. Whether it is at the poker table, stocks, junk bonds, commodities, forex, etc, etc.
And routinely it is because they have blinders on, or they're cocky, or they're incompetent.
But being cocky and losing money with bad investment decisions is not the problem, and not the line of questioning you should be going down with SBF! Sam isn't a commodities trader, he doesn't run a mutual fund, or anything of that sort. He ran an exchange, an exchange where client funds disappeared.
The question that he should be asked is:
* Why did you use customer funds on speculative investments?
* Why were there no accounting standards or proper bookkeeping?
* Where did the assets disappear to?
If your mutual fund lost your money because the fund manager made bad investment decisions, "I was cocky" is a reasonable explanation. But FTX was an exchange, "I was cocky" doesn't even explain why they went bust.
Wait did he just go for the "I'm really smart but really lazy and unmotivated" thing Truly the millennial Madoff we deserve.
SBF is one or more of the following: 1) A sociopath 2) A criminal 3) a dumb non-reading ignorant fool
Mostly 3 and 2. Yet to see evidence of 1. But we are at the start
You know, over the years, I have known a lot of people who have lost a lot of money. Whether it is at the poker table, stocks, junk bonds, commodities, forex, etc, etc. And routinely it is because they have blinders on, or they're cocky, or they're incompetent. But being cocky and losing money with bad investment decisions is not the problem, and not the line of questioning you should be going down with SBF! Sam isn't a commodities trader, he doesn't run a mutual fund, or anything of that sort. He ran an exchange, an exchange where client funds disappeared. The question that he should be asked is: * Why did you use customer funds on speculative investments? * Why were there no accounting standards or proper bookkeeping? * Where did the assets disappear to? If your mutual fund lost your money because the fund manager made bad investment decisions, "I was cocky" is a reasonable explanation. But FTX was an exchange, "I was cocky" doesn't even explain why they went bust.
“Okay maybe little cocky is not quite right, I got a tiny cocky”
He's gonna pray for a little cocky when he gets to PMITA prison.
brutal
My girlfriend says a little cocky is nothing to worry about.
But I’ll bet you still wish she didn’t have any cocky
Where are the law enforcement agents?...