I personally know someone who went from $45,000 to $8,000 over a period of 5 trading days. He was invested in OILU which is a 3x leveraged long ETF that tracks Oil Futures. Leveraged ETFs are a MATHEMATICAL SCAM.

Here's how (I will use fake numbers to explain):
(1/n) https://twitter.com/CharsiBhangi/status/1253138385717297153

OIL $40
OILU $10

OIL goes down to $30 (30/40-1= -25%)
OILU goes down to $2.5 (-25% x 3= -75%)

Now OIL goes back up to $40 (40/30-1= +33.33%)
OILU only goes back up to $5 (+33.33% x 3= +100%)

The underlying OIL hasn't moved, yet your OILU investment is now HALF.

(2/n)

THIS is how these leveraged products make a chutya out of the average retail investor.

Be smart. There are no home runs in this casino for the retail investor. Home runs are for institutions sitting INSIDE THE INFORMATION RING. You are not smarter than the market.

(n/n)