Aleks invested $5,000 from textbook money into the stock market and grew it to $60,000.
A week before his birthday, he levered up his positions, aiming for a quarter of a million dollars.
The market crashed (possibly due to Bear Stearns or Lehman Brothers collapse), and his account lost 70-80%.
Aleks kept doubling down as the market fell, eventually losing everything and taking out loans.
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Aleks Svetski (@AleksSvetski) wanted to be a millionaire by 20... and he was on that path. He turned his $5K textbook money into more than $50,000 in the stock market! Until the 2008 global financial crisis hit... he didn't just lose all his money, he was negative quarter of a million. This setback ignited his entrepreneurial spirit where he started a door knocking hustle to get out his debt and make that cool million. Again, until the government betrayed his business and he went back to square one becoming a hippie on a sabbatical... and now he's back again with the lessons he's learned with his newfound passion: Bitcoin.