Off-Topic /
Stock Market Talk and Trading - part 2 [724]
The problem here is that poor dumb jimmy is too dumb to understand the difference between holding of shares in one company and "total account value".
To make $456,000 on 24 October a person would have needed to own 9,737 Tesla shares, as the share price went up by $46.83 (from $213.60 to $260.48) and $456,000 divided by $46.83 is approximately 9,737. At the 24 October 2024 closing price 9,737 shares would be $260.48 x 9,737 = $2,536,929.76. Very simple maths. Well, clearly not simple for poor dumb jimmy, as he claims shares worth $1.6 million would have returned $456,000.
But because poor dumb jimmy is so dumb, he can't understand that what Fidelity call the "total account value" is assets less liabilities (e.g. outstanding debit balances and amounts required to cover short options positions), not only the assets held. In this case, the man who sent poor dumb jimmy failed to mention the liabilities, and because poor dumb jimmy is too dumb to divide $456,000 by $46.83 and then multiply the result by $260.48, he believed that the $1.6 million was the holding in Tesla. Anybody else can just divide 16 by 4 and realise that there is no way in hell that 21.91% of $1.6 million is $456,000. But not poor dumb jimmy. LOL! What a f*cking moron! How dumb can poor dumb jimmy be?!