投机实验室

If, after turning on your broken old computer, you find that there are 50,000 bitcoins from 2010 still there.

In 2010, 50,000 bitcoins couldn’t even buy a toilet in a courtyard house on Beijing’s Second Ring Road.

Three years later, it could buy 7 sets of 300-square-meter apartments; in 2017, it could buy 83 sets; in 2021, it could buy 217 sets. By the peak in 2025, those 50,000 bitcoins would be worth more than 45 billion yuan—meaning, in theory, you could buy up several hundred units.

You could even act as a sub-landlord... $BTC

Buffett Rare Old Photo: Turns Out He Was So Wild When He Was Young—Wearing a Fur Coat Too. $SPCXB

South Korean retail investors have already started borrowing money online 😂

A retail investor posted that he has already lost 400 million won, and now he has put the entire 230 million won in his account into SK Hynix.

Of the 230 million won, 140 million won is the share-purchase money temporarily advanced by his broker. If he can’t come up with the funds within two days, the broker will force-sell the shares when the market opens on the third trading day.

He asked if any netizens would be willing to lend him money, promising that as long as the stock price breaks even, after he sells he will pay the other person a 10 million won reward. The post was deleted shortly afterward.

On July 18, in the account he showed, he only held SK Hynix, with a floating loss of 32.38 million won and a return rate of -13.89%. In the subsequent account screenshots, SK Hynix had disappeared, and the account became 100% held in the Korean pharmaceutical company Samchun Dang Pharmaceutical. Based on this, the media judged that the previous position was likely liquidated.

Samchun Dang Pharmaceutical hit the daily limit up the day before, and the next day it fell straight to the limit down, dropping 29.92% in a single day. $SPCXB

A retail investor initially entered the market with $8,000, and after seven years he had earned about $1.97 million in total.

In the first two years, he traded short-term amid the pandemic market and memes.

With $8,000 plus a $44,000 home equity loan, for a total of $52,000, he first reached $200,000; later he got as high as $368,000. He kept the money needed for taxes, stopped frequent short-term trading, and used almost all of the remaining funds to buy shares in Rolls-Royce, the aerospace engine manufacturer in the UK, stock code RYCEY.

At the time, RYCEY had already fallen from around $10 before the pandemic to about $1.5. He believed the UK government would not let the company go under—even if it took ten years, the stock price could return to $10.

From 2021 to 2025, 99% of his holdings were concentrated in RYCEY, with a peak position of more than 130,000 shares.

In 2024, he began selling in batches between $16.5 and $18.5, and fully exited the position in 2026. $SPCXB

Someone asked Elon Musk to donate all of his wealth before 2036, and he replied: I really am prepared to do something similar.

The proposal came from Daron Acemoglu, the 2024 Nobel Prize in Economic Sciences laureate. Musk previously predicted that by 2036, AI and robots would make money lose its meaning.

Acemoglu then said that since money would already be unimportant by then, Musk might as well donate what he calls his roughly $1 trillion in wealth to charities no later than 2036.

Musk did not confirm the figure of $1 trillion, nor did he accept the 2036 deadline. He only kept the phrase “something similar,” and the recipients and the way it would be carried out have not been disclosed.

A Korean junior college graduate who couldn’t find a job managed, within 10 years, to turn 1 million won into 10 billion won—roughly from 4,600 yuan to 46 million yuan.

His name is Han Bong-ho, and Korean media have dubbed him a legendary super retail investor.

In 2011, in the Kiwoom live trading contest, he achieved a 504% return in just 8 weeks, winning the 100 million won group championship.

From 2007 to 2019, he won this category seven times in total. Of the other two wins where the exact return rates can be found, they were 408.67% and 318%.

Later, he compressed his trading timeframe to seconds or minutes. Every night from 11:00 p.m. to 1:00 a.m., he wrote trading logs: checking the day’s market, news, and overseas stock markets, then listing the stocks that might be traded the next day. He would also think in advance about when to buy and when to sell.

After the market opened, he first determined whether it was rising, falling, or moving sideways. If the actual direction differed from his plan, he switched to another strategy instead of forcing the original plan onto the market.

Stocks and industries that made it onto his list are usually those with the most concentrated capital on that day. Within a few seconds, there needs to be sufficiently large trading volume and price volatility. Both the buy and sell orders must also be plentiful, so he can enter immediately—and sell just as quickly. The news driving the uptrend must have follow-through; if a new theme suddenly appears intraday that he hadn’t researched the previous day, he typically won’t chase it on the spur of the moment. Without trading volume and volatility, he may not trade at all that day.

His buy points generally come during the brief pause right after the leading stock expands volume and surges upward. As long as the bid side is still continuously consuming sell orders above and the price hasn’t shown clear signs of weakening, that’s when he enters.

After buying, he prepares to sell right away. If the price doesn’t immediately move into profit—and even drops right away—then it means his earlier judgment was wrong, so he exits first. If the price continues rising, he watches every second; once the bid stops pushing, when the stock’s first move makes him feel something is off, he starts preparing to sell. After the second confirmation of weakening, he must leave the position.

He’d rather sell early. After selling, if the stock strengthens again, he can buy once more.

If a scalping trade ends up in a loss, he won’t suddenly change it into a swing trade and then drag the swing into a long-term position. The buy logic he built second-by-second can only be checked second-by-second.

In his early days, the stop loss per trade he set for scalping was 1% to 2%. Later, in a public lecture he gave an example using 3%: if a 1 million won account lost down to 30,000 won on that day, he would stop trading. $SPCXB

SpaceX fell to $110.47 during trading on July 27, 18.1% below its $135 issue price and about 51% below its peak after listing at $225.64.

Investors who bought at the issue price are down $24.53 per share, while those who bought at the peak are down $115.17 per share.

From early July to now, SpaceX has shed about $755 billion, Tesla has shed about $437 billion, and Musk’s two companies combined have evaporated about $1.192 trillion.

The ten U.S. trillion-dollar companies lost a total of about $1.6 trillion in July, with SpaceX and Tesla accounting for nearly three-quarters of that.

Among the same group of companies, six saw market value increase. Apple alone added about $698 billion, making the declines in SpaceX and Tesla appear especially concentrated.

SpaceX will release its first quarterly earnings report after going public on August 4.
Less than two months after its listing, the stock price has already fallen from $225.64 back to $110.47, dropping below the issue price. In the same month, Tesla’s market value dropped by $437 billion.$SPCXB

After turning $350,000 into $10 million, Kevin Xu decided to do it again.

He opened another $350,000 challenge account, which at one point climbed to nearly $100,000, only to fall back to where it started—now it’s around $450,000.

In his previous round, which began in January 2020, he placed only one stock at a time in his retirement account. He didn’t use margin, didn’t trade options, and typically sold after a stock rose by about 20%, then switched to the next one.

His biggest win came from Big 5 Sporting Goods. He invested about $6 million, at one point held nearly 1% of the company, and ultimately made about $1.7 million.

The most volatile stretch was with Rocket Companies. The account increased by about $1.2 million in a single day, then gave back roughly $1.0 million the next day.

He bought GameStop early as well. In October 2020, he bought 88,233 shares around $13, and sold them in December at $15.50.

A month later, the short squeeze began. He estimated that if he had held all the way to the peak, he might have earned $30 million to $40 million—though that’s only missed assumed gains.

His old account is currently about $11 million, most of which has already been moved into S&P 500 and Nasdaq 100 index funds.

Later, his new challenge account traded the drone company Red Cat, and he also bought an ETF that tracks twice its rise and fall. Those trades dragged the account from nearly $100,000 back down to around $350,000; now it’s back to $450,000. $SPCXB

Korean chef Mr. Lü was still showing off an account with doubled gains last month. But this month, it’s down to just $30,000.

This month, he put roughly $81,700 into an ACE SK Hynix single-stock leveraged ETF. In total, he bought 3,317 shares at an average buy price equivalent to about $24.64.

Now, each share is worth only about $9.51. He is down 61.38% on paper, equivalent to about $50,200.

Mr. Lü previously won first place in a Korean live trading investment competition. The prize was a car. A month ago, he bought 9,000 shares of Samsung E&A, investing about $162,700, with a return rate of over 100%.

This time, he bought SK Hynix near what he considered a high point. He bought a two-times single-stock leveraged ETF. This product tracks SK Hynix’s daily rise and fall: if the stock drops 5% in a day, the ETF’s target decline is close to 10%.

Even if the stock rebounds the next day, it still has to recalculate from the already reduced principal. After continuous volatility, it becomes difficult to simply return to the starting point.

These 3,317 shares have not been sold yet. The realized profit or loss for the month is still 0, and about $50,200 is entirely sitting in the unrealized loss column.$SKHYNIX

After 4 years of trading, I lost about $120,000 in just two days, and my account was left with only $921.

Of that, $90,000 was lost on a single QQQ put option, and another $30,000 was lost on SpaceX stock.

He said his reason for posting was to tell everyone that momentary arrogance can wipe out years of effort and discipline in a matter of seconds.

In the past, his largest position was only about $5,000, but this time he put his entire available margin of about $90,000 into the trade.

He only looked at that one 5-minute candlestick and felt he had seen this kind of move countless times—QQQ would definitely keep falling—so he went all-in on put options.

After the order filled, QQQ suddenly bounced. The option price first dropped by about 70%; a few seconds later the decline was close to 90%, and then it expired worthless.

He used to use Interactive Brokers, where he could place a buy and a stop-loss at the same time. Later, to avoid commissions, he switched to Wealthsimple, which meant he had to wait until the buy order was filled before he could place the sell order.

By the time he was ready to cut his losses, the price had already dropped by 70%.

The account screenshot also shows that over the past year he had a cumulative loss of $133,951.

After four years of trading, he had used many different options strategies, and he also said he had been controlling his position sizing. In the end, what blew through his account was that—one time—he amplified his previously largest position by 18 times.

Now he’s planning to stop actively trading and return to investing regularly in low-cost index funds. $SPCXB

31-year-old Musk, just had PayPal acquired and earned about $150 million. If it were you, what would you do with the money—buy a house and a car, or travel around for a few years first?

In 2002, Musk chose to bet his money on a big rocket.

He put up roughly $50 million to found SpaceX, aiming to bring the price of launching a single rocket down to about $6 million. The media dubbed him the “rocket man,” while skeptics believed it was just another unrealistic fantasy about space.

What’s truly astonishing about this isn’t the outcome we came to know later—it’s that a person can choose to take the money earned in the internet age and put it into a venture with a very high chance of failure, a long payback period, yet the potential to change the world.$SPCXB