Conversation
Dan Gillmor
dangillmor@mastodon.social
Dear journalists, you demonstrate financial illiteracy when you say that so-and-so "lost" gazillions of dollars after the company shares he owns dropped in value.
He didn't lose a dime, because the gains were illusory unless he sold the stock or borrowed against it (riskier) when value was high.
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@dangillmor also it doesn't matter if you lose hundreds of billions of dollars if you remain a billionaire.
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tripleman, a 🇨🇦 in 🇩🇪
tripleman@mastodon.social@dangillmor I am financially illiterate andI don't know how much he’s down because I don't read the headlines but, as value plummets, investors look elsewhere. Confidence is contagious. Almost as contagious as a lack of confidence.
I'd also imagine a massive drop is a bit of a problem for the company itself. But, what do I know.
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Pavel Machek
pavel
@dangillmor Yeah, so you don't lose anything when you crash your car? Dunno, I'd rather had stock worth $1M than stock worth of $1 :-).
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