'Stop Killin' My Vibe'—WallStreetBets Investor Gets A Letter From Fidelity After 3,385 Trades And A $300,000 Loss In 1 Month

A recent post on r/wallstreetbets has triggered many reactions after an investor shared a letter from Fidelity Investments, warning them about their trading activity. The individual reportedly executed 3,385 trades in a single month, resulting in a $308,000 loss and as some said, should be “inducted into the WallStreetbets HOF with this letter.” 

The investor, in response, jokingly reassured Fidelity by stating, “Fidelity, if you’re reading this, I can assure you that I am sufficiently leveraged within my personal risk tolerance. Stop killin’ my vibe.”

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Fidelity sent a letter telling the investor to check if their trading choices matched their “investment objectives, financial circumstances, and risk tolerance.” It was also made plain by the firm that Fidelity would assume that the investor was satisfied with the trading decisions and their results if they did not reply.

Reddit Reacts

The WallStreetBets community, which is known for taking big risks with trading, had mixed reactions. Some thought the letter was something to be proud of and even joked that the investor should frame it. Others noted that using borrowed funds and engaging in excessive trading could be extremely dangerous, as frequent, high-volume trading can result in substantial losses, particularly when using leveraged strategies.

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As one person said, “Imagine making 170 trades a day and still not making any money.” That’s in line with other, more satirical comments made by others. As one reader amusingly wrote, “Thank you for choosing Fidelity to help with your financial need of losing $308k in a month.” Another joked that this was the closest thing to a wellness check a brokerage would ever send. 

Some saw it as a financial reality check, remarking that Fidelity was only upset because they couldn't charge commissions on losses. Others humorously referenced trading skills, stating that the investor "never had the makings of a varsity trader."

The Risks of Overtrading

Making thousands of trades in a short time is a risky way to invest and usually doesn't work well for most people. Fast trading like this needs a lot of experience, good planning, and special tools. For everyday investors, it can mean paying a lot in fees and dealing with increased exposure to market volatility.

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While some in the online trading community view this as an amusing event, it serves as a broader reminder of the importance of responsible investing. Risk management, a well-thought-out strategy, and an understanding of market conditions are crucial to long-term financial success.

As brokerage firms like Fidelity step in with cautionary messages, it underscores the need for investors to periodically reassess their strategies to ensure they align with their financial objectives.

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