After opening a Robinhood account in April and buying USO “at the bottom”, Chris Carey is looking for jobs in the hedge fund industry. After hearing a news report on his local station, Backwater Radio, that oil prices had fallen into negative territory, he knew he could outsmart those Wall Street bankers by buying oil.
“You could get paid to buy a barrel of oil! How could I lose?”
Chris has been watching the price of oil march steadily back up to nearly $20 a barrel in the last couple of weeks, so he’s “pretty sure” he’s rich now.
“I’ve forgotten the password to my Robinhoood account, but once I clean up my bedroom and find where I’ve written it, I’ll login and collect my profits.”
He said he was particularly excited when he looked at Yahoo Finance on Wednesday last week and saw the share price had gone up 8x overnight.
“I’m not sure what a prospectus is, but I’ll definitely Google that.”
Written by Dick Fineman