A Noob Trader Shorts Copper Because Of The Public Backlash Against The Olympic Bronze Medal, Gets Margin Called And Loses All Of His Savings

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Amateurs are destined to err. After all, it is through our mistakes that we learn some of the most important lessons that life can teach. Yet, some mistakes are just so mind-bogglingly stupid, you cannot but help wonder that there has to have been a great cosmic joke if humans are meant to represent the apex of intelligent species in the known universe. Consider the recent case of an amateur trader who established a short position in copper without understanding the metal's global pricing dynamics.

Just a few hours back, an amateur trader, who goes by the moniker Glittering-Acadia774 and is affiliated with the r/wallstreetbets sub-reddit, penned a mea-culpa of sorts for a veritable litany of errors and his remarkable pigheadedness that has cost him all of his life savings. Our readers can access the entire post via this link.

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Basically, Glittering-Acadia774 took a short position in copper a few weeks back due to the public backlash against the supposedly low quality of the bronze medal in the recent Olympics games. In the mind of this saga's principal character, this was an "intelligent investment" as "bronze is composed of about 88% copper." The trader believed that copper's price was certain to crash due to the prevailing uproar and that his thesis was not a "gamble."

Of course, in reality, the Olympics have almost the same capacity to affect the global price of copper as one's flatulence can ever hope to affect the global climate.

Despite receiving "thousands of comments and DMs" urging the amateur trader to close the short position in copper, our very own bastion of tenacity and fortitude continued to soldier on, even going so far as to buy additional copper put options on margin at a lower strike to "average down."

Wi