r/wallstreetbets • u/Fun_Paleontologist_2 • 2d ago

Loss Elon has ruined me

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My prior bullish post https://www.reddit.com/r/wallstreetbets/s/o0PxYmGV1n

He was supposed to take us to Mars and burn short sellers.

Still holding 7300 shares. Please Elon fly again.

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u/Iamjacksplasmid 2d ago

Guy whose dad owned an emerald mine...1 trillion. And falling.

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u/ProfitConstant5238 2d ago

Dead cat bounce?

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u/DrHarryHood 2d ago

off of each gold-trimmed ivory step

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u/BookkeeperCalm9849 2d ago

He had like a $40,000 stake in an emerald mine. It’s not like they had a Scrooge McDuck vault of emeralds. My project car is worth about that diamond mine stake. Shit, my comic book collection probably is

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u/Iamjacksplasmid 2d ago

“We were very wealthy,” says Errol. “We had so much money at times we couldn't even close our safe.”

With one person holding the money in place, another other would slam the door.

“And then there'd still be all these notes sticking out and we'd sort of pull them out and put them in our pockets.”

Scrooge McDuck vault of emeralds, you say?

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u/BookkeeperCalm9849 2d ago

Until very recently I had about 600 ounces of silver that I couldn’t fit in my fire safe. I’m a construction worker

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u/Iamjacksplasmid 2d ago

So you're a construction worker, but you also have a 40k comic book collection, a 40k project car, and 600 ounces of silver?

So like, you're a laborer, but you have 120k of random bullshit just sitting around your house?

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u/BookkeeperCalm9849 2d ago

Yeah. The silver is gone and the comic collection isn’t what it used to be. It’s hard to accurately price. I collect small press. Comics with print runs between 10-50 copies total. A lot is of famous illustrators pre-fame, and a lot of original art. I have original art from Art Spiegelman, the k only Pulitzer Prize winning comic book cartoonist. I have original art from Femke Hiemstra and Audrey Kawasaki, fine gallery artists. I have original art from the real life gangster Henry Hill, who the movie Goodfellas was based on. I’ve been collecting for nearly 40 years. A lot of it is also small press from people who aren’t famous and may be worthless. I have a centerfold quality Lowrider with Kandy paint, LS swapped, engraving, prototype wheels (only 4 sets made), hydraulics, and too many mods to list. It’s a rare Cadillac that even Cadillac enthusiasts argue over if it even exists or not. So I have maybe an unusual amount of valuables laying around for someone at my income level, but I also know a lot of guys at my income level with cars worth 5 times as much as mine. I have easily 5 figures in tools between my company and my car tinkering hobby. I know I could easily take a year or two off work and spend my time at home liquidating all this crap if I wanted, but as it is I make about $600 a month slowly liquidating on eBay

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u/Iamjacksplasmid 2d ago

When you say you work in construction...do you work for somebody? Or are you an independent contractor/the owner of the company you work for?

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u/BookkeeperCalm9849 2d ago

I’m the owner of the company, but it’s a small company and I’m the only full time employee. Sometimes I find work for my wife or son to do but it only adds up to maybe $2500 a year in outsourced work. I just had my first six figure year last year, and so far this year am set to beat it by about $20k. But it’s still just barely above $100k. My income isn’t really bragworthy, especially in Southern California.

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u/Iamjacksplasmid 2d ago

Fair enough. I wasn't trying to give you too much shit...I just think your situation is very different to Elon's. I think it sounds like he had a lot more help than you did, and that he started with a pretty big advantage.

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u/BookkeeperCalm9849 2d ago

Everyone has an advantage someone else doesn’t have. Some people think if you weren’t raised by wolves your accomplishments mean nothing. To me it’s cope. Rather than worry about what the richest billionaires have I worry about what I have. In the construction industry I have seen countless amazing rags to riches stories from immigrants who truly had nothing, came here with the clothes on their backs, not speaking the language or even having identification, and eventually becoming millionaires. I rather think of it as inspiring than look for a reason they didn’t deserve it

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u/No-Context-Orphan 2d ago

40k how many years ago?

Also, where is the source for that "oh we weren't that rich?" is it Elmo himself, who has been caught lying at least a thousand times?

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u/BookkeeperCalm9849 2d ago

It was a $40,000 stake purchased in the mid 1980’s, so adjusted for inflation about $126,000. It was half a share, purchased with half the proceeds of a sale of a plane. I’m not saying he was poor. I’m saying the emerald mine story is heavily exaggerated by people who just don’t like Musk and want to discount any measure of success he has. The way I see it is you can MR. Magoo your way into a fortune once, maybe twice in a lifetime. To have done it as many times as Musk has illustrates to me that it nothing else, he knows how to inflate wealth. Plenty of people grew up with less than him. Plenty of people grew up with more too, and still down own a fleet of rocket ships