Sacca turned student loans into $12M before going $4M in debt
Chris Sacca · Chris Sacca – Hustling to Save the Planet at Lowercarbon (Capital Allocators, EP.321) · Jun 12, 2023 · at 16:44
Chris Sacca recounts his early experience aggressively leveraging online trading accounts using his law school student loans during the 1999 dot-com market boom.
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“And I took my student loans and I turned them into twelve million dollars. But that twelve million dollars I didn't send. I just kept rolling it back in and held material positions in these two stocks. And then within a 10 day period, I say it's black swan, but these things happen all the time now in retrospect, but it felt like a black swan. AT&T Latin America just took the write-off and bankrupted themselves to just recapitalize, and so that zeroed me out, and that took me down to single-digit millions, and then Myriad Genetics was my other company, and that was a zero, and then I went from twelve million of the good to four million of the bad in seven to 10 days, but I didn't have anything to show for it.”
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