It’s fun to read about home traders making bank. 20 yrs ago, I was one of you. Today I’m here to tell you: *Don’t trade with money you don’t own.*

I know because I did that. I kited my student loans, YOLO’d them to $12m, and then, in an f’ing blink, I woke up $4m in debt.

Debt sucks. Debt is the opposite of freedom. The hedgies you’re torching? They are losing other people’s money. You’re making them sad AF, but they’re not going to be picking up extra shifts and taking on a second job. They will never get calls from debt collectors.

Keep doing what you’re doing. You’ve shattered so many deserving egos, and I’ve been lucky to wet my beak along the way. No salt here. Just because I worry doesn’t mean I’m short. I just shudder thinking that what happened to me back then is going to happen to a lot of you.

Someone, maybe you, bought $GME at $380 today. Maybe it was a big fund. More likely it was a new RobinHood user’s CNBC FOMO market order. Of course, all RH shows them is buying power, and buries the borrow. But that debt? It’s real. It’s owed no matter what.

Debt has no fucks to give when the price collapses. Debt doesn’t care who gets the last chair when the music stops. Debt haunts, lingers, & binds. Debt doesn’t care about your green paper gainz screenshot, because two weeks later it sees the all-red screen that you never post.

So keep fucking shit up. I have axes to grind against a lot of the guys you’re wrecking, and I love to hear about real people stacking chips. But, please, from someone who has been there and knows the hopelessness and depression ahead:

Don’t trade what you can’t afford to lose.