Twitter
youtube
Discord
Steam
Twitch
GitHub
RSS
Home
What's new
Latest activity
Authors
Forums
Members
Registered members
Current visitors
New profile posts
Search profile posts
What's new
New posts
New calendar events
New profile posts
Latest activity
Search forums
Discord
883
Servers
Bans
Community Rules
Server Stats
Calendar
New events
Tools
GOKZ Replay Viewer
How Secure Is My Password?
Speed Test
Donate
Log in
Register
What's new
Search
Search
Search titles only
By:
Members
Registered members
Current visitors
New profile posts
Search profile posts
What's new
New posts
New calendar events
New profile posts
Latest activity
Search forums
Menu
Log in
Register
Navigation
Install the app
Install
More options
Close Menu
Home
Forums
Community
General Discussion
I am financially ruined(gourd futures)
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Whippet Wizard" data-source="post: 21616" data-attributes="member: 5371"><p>I have lost everything, and I'm not sure how to continue. This summer I invested $17,500 (six months salary and my entire life savings) into ornamental gourd futures, hoping to capitalize on this lucrative emerging industry. After watching a video about Vincent Kosuga and his monopoly on onions, I decided I'd try to do something similar with another vegetable. I did some research and found out many agricultural forecasters expected this year's gourd yield would be far smaller than the past, due to deteriorating soil conditions in central Mexico and a warmer-than-average spring. At first, demand soared around Halloween and prices skyrocketed, but the gourd bubble burst on November 12th. Unfortunately, the coronavirus caused a massive drop-off in demand due to fewer families decorating their tables for thanksgiving, and prices plummeted. I had invested early enough that I thought I would still be fine, but then on the morning of December 2nd, a new email in my inbox caused my stomach to turn into a pretzel. The massive gourd shipment from Argentina, scheduled for early March, had arrived. I was planning on selling off my futures right before this, in February, but this ruined everything. To top it off, the gourds in this shipment were absolutely gargantuan, some topping 4 pounds each, causing the price-per-pound to drop like an anchor into the range of 6 cents per pound. I am ruined.</p></blockquote><p></p>
[QUOTE="Whippet Wizard, post: 21616, member: 5371"] I have lost everything, and I'm not sure how to continue. This summer I invested $17,500 (six months salary and my entire life savings) into ornamental gourd futures, hoping to capitalize on this lucrative emerging industry. After watching a video about Vincent Kosuga and his monopoly on onions, I decided I'd try to do something similar with another vegetable. I did some research and found out many agricultural forecasters expected this year's gourd yield would be far smaller than the past, due to deteriorating soil conditions in central Mexico and a warmer-than-average spring. At first, demand soared around Halloween and prices skyrocketed, but the gourd bubble burst on November 12th. Unfortunately, the coronavirus caused a massive drop-off in demand due to fewer families decorating their tables for thanksgiving, and prices plummeted. I had invested early enough that I thought I would still be fine, but then on the morning of December 2nd, a new email in my inbox caused my stomach to turn into a pretzel. The massive gourd shipment from Argentina, scheduled for early March, had arrived. I was planning on selling off my futures right before this, in February, but this ruined everything. To top it off, the gourds in this shipment were absolutely gargantuan, some topping 4 pounds each, causing the price-per-pound to drop like an anchor into the range of 6 cents per pound. I am ruined. [/QUOTE]
Insert quotes…
Verification
Post reply
Login or Register
Your name or email address
Password
Show
Forgot your password?
Stay logged in
or Log in using
GitHub
Steam
BattleNet
Discord
Reddit
Twitch
Log in
Don't have an account?
Register now
Members online
No members online now.
Latest posts
Last person who posts wins
Latest: Kuiq
Today at 2:56 AM
Off-Topic
Upcoming Events
Christmas Eve
Christmas Eve
sneaK
Updated:
Nov 22, 2020
Christmas Day
Christmas Day
sneaK
Updated:
Nov 22, 2020
New Year's Eve
New Year's Eve
sneaK
Updated:
Nov 25, 2020
Today's birthdays
Discord
Home
Forums
Community
General Discussion
I am financially ruined(gourd futures)
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…
Top