Today, I found out my broker invested my $6000 in the wrong stock. How did I find out? He called me to let me know the stock crashed. FML
Collection
Fall
Dead leaves, the first cold of the season and an umbrella flipped inside out: fall, the season of grace.
Today, I learned that my dad invested my entire college fund into some shady internet stock, despite my dire warnings about being careful. He told me not to worry as he'd done some research, and he guaranteed everything would be fine. Two hours later that same stock dropped almost 75%. FML
Today, my portfolio manager called me and said he had invested all of my retirement in Circuit City. FML
Today, my husband had to admit that he lost 5000$ on a cryptocurrency scam that some asshole Twitch streamer convinced him to invest in via Twitter. FML
Today, I got fired from my position as a financial investor for giving a client the exact investment he asked for, even though the investment was out of my mandate, and I had gone to my direct manager to authorize the investment. My manager was promoted. FML
Today, I tried to sell 2,000 options contracts, but I bought them instead, resulting in a big loss. FML
Today, my boss told me that I was getting a promotion. I was so excited to tell my family and friends the good news, but when I got home and checked my bank account, I realized that I had accidentally transferred all of my savings to my ex's account. FML
Today, I frantically told my parents that my bank account had no money. Turns out, they took the $1,600 I had saved up from a summer job and invested it in penny-stocks. I was grounded because they were "doing it for the family," and I'm being selfish. They also had lost it all in a matter of days. FML
Today, I found out that the $200 a week I was paying my dad for my car insurance and payment, wasn't actually paying my insurance and car payment. How did I find out he wasn't paying? Repo man took my car. FML
Today, my brother finally paid me the $60 he owed me. I later found out that he'd stolen those $60 from my wallet. FML
Today, I found out that after three years of telling my boss our strategy wasn't going to work, that I was right - it didn't work. I also found out that because it didn't work, I lost my job. My boss still has his. FML
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Top comments
hitmanoo 16
if he's a licenced broker you can easily recoup your $. sue.
ProfessorNinja 0
You shouldn't need to sue. As your broker, he has a fiduciary responsibility to act in your best interest, which includes investing only in what you tell him to. As such, he's more than likely to carry Errors and Omissions insurance of some sort. Assuming you can demonstrate the error was his, you should neither need to sue nor threaten to sue. Ask him to submit an E&O claim. At six grand, it should barely dent his premiums. He won't even bat an eye.
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Comments (60)
hitmanoo 16
if he's a licenced broker you can easily recoup your $. sue.
carteran06 0
sue the shit outta him
ShadowzI 0
"We do it like real men. We sue"
6991 0
it's ok, you'll never have to work again with the money you get from the lawsuit.
deathcab7 0
daww rats man ): bad day eh?
TheTruth1428 0
I think it's pretty clear what you need to do. Sue his ass. His firm is responsible, even more so he is. Unless you're going to just sit back and eat a $6,000 loss, something a lot of people can't afford, you need to hold him accountable, even if it costs him his job. P.S. This is why you don't have family do business for you. Because stuff like this happens and people usually aren't willing to make family take responsibility for their mistakes. Sue, then find a new broker.
ProfessorNinja 0
You shouldn't need to sue. As your broker, he has a fiduciary responsibility to act in your best interest, which includes investing only in what you tell him to. As such, he's more than likely to carry Errors and Omissions insurance of some sort. Assuming you can demonstrate the error was his, you should neither need to sue nor threaten to sue. Ask him to submit an E&O claim. At six grand, it should barely dent his premiums. He won't even bat an eye.
ProfessorNinja 0
This is ridiculous, actually. Assuming the broker pays him back, which would typically be by filing an insurance claim for lost money + damages (including any money he might be able to demonstrate he lost if his stock he desired had gone up) + interest, he would more than likely not make more than, I dunno, assuming it was a short term error, MAYBE 10k at best. There would likely be no punitive damages since it wasn't intentional and the broker acted reasonably to return his funds. While it sucks, it's not irreparable, and tort law isn't a lottery.
ipod_addict 0
y do all u guys write like 40000 word comments? no one reads them!!!
spez86 0
OP you might be a DUM ************ for not duoble triple checking a 6,000$ investment if it's worth that much money then maybe you should have had some insurance maybe you did I hope so next time give it to me I'll take good care of your money ;-)
effedupfml 5
there must be some sort of covers/insurances available on both sides...but if hes licensed and he admits to making a mistake then well SUE HIS ASS!
michael32123 0
I agree with 55
Rota 0
$6000 isn't very much on the stock market. Quit bitching.
logicalliv 9
Smart people read the longer comments, because we like to learn things, like how to get our $6,000 back. Don't assume everyone is as stupid as you.
ProfessorNinja 0
That's about one word for every exclamation mark you used.
quikwit1212 0
@55: You're a dumb shit. Everything is misspelled or punctuated wrong( it's "why" not "y"), and don't assume because you're stupid and can't read that everyone else can't either. Do you even know how long 40,000 words is? Assuming a page is 500, that is 80 pages. I bet you've never read that many in your life.
skyler_kitttyyy 0
SUE THAT F******
mollyjynxjax 28
@60: Says the idiot who can't spell *dumb*
OneSadGuy 3
that sucks. badly.
elishaax 0
first ? xD
treesdevin 0
try third buddie ...
treesdevin 0
wtf.... this wasn't even the one I commented ...
Otto12 0
they moderated him out. go Sarin!!!!!!
clandestine77 0
that sucks.
ladiesman14 0
if this broker is US based , complain to his manager or compliance department. but if you gave him discretionary authority then you are SOL. you cant sue him because you signed an arbitration agreement. complain to FINRA so it will go in his CRD record.
BlueTwist89 0
Sucks to be you.
caitsheart 0
good job. u have a really stupid stocker. ha
caitsheart 0
i meant to say stocker. haha.
phantomdonut 0
Lol! That's great. immd. One problem, though: 'stocker' implies you'll actually have some financial stock behind you when the transaction's complete. This is why they're called 'brokers' - they make you broke. *groan-worthy pun*
troubleinharlem 0
at least he told you! but make him pay.
thedivinecomeD 0
imagine if he put it in the wrong investment and you made money...ahhh wishfull thinking... :)
intensitive 11
Just sue and get over it. If you have 6 grand to shovel into stocks, then you clearly have a job where you make decent money.
Luckster 0
I swear they do this on purpose.
infinitii 0
lmfao
Ajjas013 6
I wonder why...
santos20 0
ur an idiot
totes_sucks 0
@ moonfire: cracked.com?