The rich really do have unique ways of having fun.
Hobbies are what keeps us going. Though avid TV show fans and gamers can be fine for ages as long as they have some edible food, water, and their favorite images flashing on a screen, sports fans are getting quite desperate these days.
With all matches and events canceled, they are out of options and watching best sporting moments over and over again will only keep them occupied for so long.
Dave Portnoy, the founder of Barstool Sports and a sports fan who enjoyed betting on matches, decided that playing the stock market would be a nice way to keep himself busy. Of course, if the stakes are low the thrill would never be high, so he deposited $3 million dollars to his e-trading account and started his new adventure on March 23, 2020.
Portnoy acknowledged some of his fans may follow in his unguided footsteps and would also get into day trading alongside him. To these fans, he gave fair warning, “Do not do it thinking you’re going to make money, do it for entertainment, do it for fun. I would never day trade with money that you can’t afford to lose.”
With only a vague idea about how day trading actually works, Portnoy decided he’d live-stream all of his daily sessions on his Periscope channel to let everyone in on the eventual calamity. Currently, he’s down around $647,000 but his streams are definitely pricelessly entertaining…unless you’re buying the same stocks as him.
Just look at the absurdity that is Davey Day Trader Global:
When the system crashed and prevented him from selling out with a profit, he almost lost it, rightfully so.
Injuries occurred while waiting for Amazon to finally make a “push.”
Time started slipping away as things got worse.
Amazon started walking backward and subbing in Jeff Bezos seemed like the only option.
Jeff Bezos didn’t wake up…
Unironically, he also made a sponsorship deal with an eye-wear company to make up for all his broken glasses.
Though he could have (read should have) started with a demo account and not risk any of his actual money, Portnoy said, “I can’t have the reactions I have, which are very authentic unless I have significant skin in the game.”
It may be a super costly hobby but at least it satisfies Portnoy’s competitive spirit and also entertains thousands who are starved for some authentic live action. That’s about as positive as we could look at it.
If you’re considering killing some time in the stock market and wear glasses, definitely consider starting out with a demo account. You may not feel as spiritually invested as you would be if you were playing with cash, but you may come back to thank us if things go south.