Thread: Is this possibly the most stupid thing a person has done?

Thai love daytrading, it's like playing casino

This rich Thai lady I know lost 10 mil THB on day trading by buying speculative stocks thanks to "valuable" golf tips. What she failed to realize was she was being played by bigger fish. That's how it works here. Spread rumors, hype the company and then cut and run, leaving the poor clueless suckers in the dust.

I tried to warn her but she wouldn't want to hear any of it as I am a farang and I don't know anything, and she kept buying those losers making 10 mil THB round trips while her friends were doing 50 mil THB round trips on a SINGLE stock, barely covering the cost of their mistakes.

That's beyond stupidity and ignorance, that's why I call it the herding effect. They just want to show off. If they cared about the money, they wouldn't take so much risk for so little return.

Originally Posted by Bung

I just found out my sister in law has made a huge screw up. She is a bright woman with a normal job, it just defies logic how someone could be so stupid.

She has been dabbling in the stock market which is fine by me and she makes her own money selling cosmetics and stuff like Amway so I thought nothing of it. Now I find out that she was seriously bitten by the stock market bug and how you could just make money out of nothing.

So she goes off and hocks everything her and her husband has worked for to plough more money into this garanteed way to get rich. Not content with that she gets a loan shark deal in her town through her husbands Army contacts.

Still not enough she thinks, I'll go for it and make a million so she comes up to or village and gets her mom to put up her house with another loan shark No problems, we will all be rich soon. Look at Taksin!

Then the stock market crashes when they did that thing with the baht and she loses everything including my MIL's house. they managed to sell half of the land which is quite valuable being in the main street surrounded by shop houses and now have to build a new house on only half the land.

Her husband narrowly missed out on being kicked out of the Army when they called the loan in, a month before he graduated.

What pissed me off is that I built my wife a restaurant in front of her moms house (which she promptly gave up on as soon as it stopped being sanuk) and now I have to pay to have it torn down and moved. I only just managed to save it from being "donated" to the moms new home. Fok that, I will rebuild it at my place and make another shed to store my rapidly growing collection of broken motorcycles.

Just another typical story of how Thais seem to not have the slightest idea about money.

What she and her family did was very unsound.

As long as you don't give them any money, "loans," help them finance anything, it's OK for you.

As soon as I heard what had happened I made it clear that I wouldn't be giving 1 baht to help bail her out as they obviously hoped I would do.