Confessions of a Leveraged ETF Junkie, Part 1
by Timothy Collins
We are all junkies, whether we admit it or not. Each one of us can pinpoint a moment when our interest in the markets turned to addiction. Mine was when I spurned a broker's advice while involved with a stock market game back in high school. Instead of buying his recommendation (Pepsi ), I took our last-place portfolio and went all in on Scoreboard for the nine weeks that remained in the competition. One free trip to the NYSE floor later (after a monstrous climb in the standings from 273rd to 5th), I knew I was hooked.
Make no mistake, we are all addicts. You will seldom hear about accounts that were bankrupted, the trades that went against us, or the decisions that were made out of "tilt" as opposed to sound reasoning. And the rare times that you do hear these stories, they generally come from...
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