Salomon Smith Barney wipes out lottery winner

[traderdragon2]

Leave it to the pro's to invest your money wisely LOL

http://www.jsonline.com/story/index.aspx?id=594236

 

[flytiger]

He had about the same odds as when he won the lotto.

 

[ByLoSellHi]

"A fool and his money will soon be parted."

 

[flytiger]

these two options traders hit the powerball. Radio interview. One of em says he and his wife never traveled, so he thought they'd just retire, buy a Cadillac, and see America.

Other guy wasn't much for travel. Thought he'd just trade until it was gone.

 

[stevegee58]

I just love lottery winner disaster stories.

Here's another:

Jack_Whittaker

He's the guy in West Virginia who, in addition to ruining his own life, ruined the lives of his relatives and virtually everyone around him.

 

[ByLoSellHi]

There was a well-executed study done where it was shown that 90%+ of lottery winners end up divorced, alcoholics, addicted to drugs, in jail or bankrupt - or most likely, a combination of more than two - within 5 years of hitting the jackpot

 

[TheDudeofLife]

Quote from ByLoSellHi:

There was a well-executed study done where it was shown that 90%+ of lottery winners end up divorced, alcoholics, addicted to drugs, in jail or bankrupt - or most likely, a combination of more than two - within 5 years of hitting the jackpot

yea well to win the lottery you need to play it. I suspect that a lot of the habitual lottery players had many of the above traits in them before they won. My sister's "baby daddy" won a $75,000 scratch off game prize last year. He has already blown most of it. He still plays those damn scratch off games all the time.

 

[da-net]

Quote from traderdragon2:

Leave it to the pro's to invest your money wisely LOL

http://www.jsonline.com/story/index.aspx?id=594236

There is a saying in the brokerage industry when talking about client's money, brokers and brokerage firms.

Simply stated" Two out of three ain't bad!"

 

[ByLoSellHi]

Quote from TheDudeofLife:

yea well to win the lottery you need to play it. I suspect that a lot of the habitual lottery players had many of the above traits in them before they won. My sister's "baby daddy" won a $75,000 scratch off game prize last year. He has already blown most of it. He still plays those damn scratch off games all the time.

That's a very salient point.

I don't play the lottery, ever, and I hope that reflects well upon me.

 

[clacy]

Quote from ByLoSellHi:

That's a very salient point.

I don't play the lottery, ever, and I hope that reflects well upon me.

These stories are not shocking when you walk into the convenience stores and look at the people playing the lotto.

I believe most of these people would end up broke, divorced, alchoholic, addicts, etc with our without the lotto.