XIV trader: ‘I’ve lost $4 million, 3 years of work and other people’s money’

[Suppressed]

XIV trader: ‘I’ve lost $4 million, 3 years of work and other people’s money’
Published: Feb 7, 2018 2:49 a.m. ET
https://www.marketwatch.com/story/xiv-trader-ive-lost-4-million-3-years-of-work-and-other-peoples-money-2018-02-06

The VelocityShares Daily Inverse VIX Short Term ETN XIV, +8.63%  was created to give traders an opportunity to bet against a rise in volatility — the calmer the markets, the more profitable the trade. And it’s been one of the best plays out there amid the bull’s long and steady assault on new highs.

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“I’ve lost $4 million, 3 years worth of work, and other people’s money,” he wrote in a post that’s garnering lots of attention. “Should I kill myself?”

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“I started with 50k from my time in the army and a small inheritance, grew it to 4 mill in 3 years of which 1.5 mill was capital I raised from investors who believed in me,” Lilkanna explained, adding that those “investors” were friends and family.

“The amount of money I was making was ludicrous, could take out my folks and even extended family to nice dinners and stuff,” he wrote. “Was planning to get a nice apartment and car or take my parents on a holiday, but now that’s all gone.”

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[DB]

Maybe he should have tried to work for wealth instead of gambling for it?