Richest guy in norway bankrupt

BTFOd by margintrading power commodities and getting liquidated due to volatility

topkek

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>833 millioner til null
Å fy faen.

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source?

Jepp. Ekstremt. Han har nok litt lagt av i forskjellige firmaer så han har til smor osv.

e24.no

"Monday, September 10, there were extraordinary price changes in the Nordic and German power markets. I have had too much position in terms of liquidity in the market and during the last month, the last 350 million of my free cash funds were transferred.

This was not sufficient to cover the loss and, on Tuesday, I was under the auspices of the Nasdaq Stock Exchange. On Wednesday evening, my entire portfolio was forcibly sold by Nasdaq, resulting in a very large personal loss. The consequence of this is chord or personal bankruptcy, "writes Aas.

absolutely niggered

lmfao

This guy is substantially wealthier than all of us but I've been through what he has been through, albeit less money.
In the early 2000's I had a ton of money and I knew 'everything' to know about investments and money. Over time I blew my money through bad investments and a bad lifestyle. Eventually I had legal and IRS problems and spent some time in prison...by the time I went to prison I was flat broke and needed a public defender....Tought me some valuable lessons one of which is squirrel away money in precious metals and cash as a relief valve when things go bad. Hope he has something put away from the govt.

He's an idiot. If you're not looking at investment in an ends-oriented way (i.e. effectively building up an enormous pension which allows you to retire earlier and earlier with each passing year) you're a greedy dullard.

>Be the richest guy in Norway
>Still risk your wealth gambling with leverage

What the fuck.

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wat

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Pretty fucking insane. He lost 1.3 billion NOK in a week.

>>Still risk your wealth gambling with leverage
you always use leverage dummy

why would you ever risk all your own money the same rules always still apply

Because you don't get liquidated in high volatility like that guy did.

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probably hit a lot of his wealth in crypto and makes use of norway's bankruptcy laws

The face of senseless greed. Looks straight out of the 80s.

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Who got that money?

hefig!!!

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>Margin trading with your ENTIRE net worth.

Kek

Jews, duh.

this guy had 150m usd and decided to risk it all? for what? how would his life have changed at all if he had won whatever trade he was aiming for?

Can you expand? How can bad investments fuck you up when you have that much money?

Literal boomer retard

He wanted to be one of the big boys who run the planet.

>150m usd
>richest guy in norway
?

guy looks like he had a touch of the downs with autism

>150m is the richest man in Norway

confirmed third world shithole

OP is misleading. He's the biggest day trader in Norway. Not the richest guy.

See

Exactly. If you make real, diversified investments (not speculation such as cryptocurrencies or early stage angel or VC investing) with zero margin, it is practically impossible for you to go bankrupt. Even if the market corrects, you will never be forced by a third party to liquidate.

Ever wonder how some retired sports stars go bankrupt despite not being addicted to drugs, not having a posse, not having 6 children with 6 women? Excluding being defrauded by crooked wealth managers, most of them end up losing their asses in real estate investments that go bad. They take their entire net worth, use it as a 20% (or less) down payment on a lot of real estate, and then lose it all if the real estate turns out to have been overpriced. A 20% (or less) correction in real estate prices coupled with a forced liquidation (not being able to make the P&I) means an utter wipout. If these professional athletes had just paid cash for the real estate, even a 50% drop in prices and a forced liquidation would still leave them with half their fortunes.

He's not the richest guy in Norway though. Just a rich trader.