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Story Of a Founder Who Burned Through $21M While His Social App Fling Crashed (businessinsider.com)
London-based social media app Fling, which never brought in any revenue, burned through $21 million in less than three years. According to a Business Insider report, the founder splashed out on 1st class flights, Ibiza hotels, and Michelin-star restaurants (Editor's note: The link could ask users to disable their adblockers; alternate source. From the report: In early July 2015, temperatures were rising in the boardroom on the top floor of a 12-story office block in Hammersmith, West London. Marco Nardone, the 28-year-old CEO and founder of social media app Fling, had called an emergency meeting the day after his app was removed from the App Store by Apple for being too similar to the notorious Chatroulette platform. The atmosphere was tense and Nardone was furious, three former employees said, because his COO, Emerson Osmond, had gone behind his back. Specifically, he was angry because Osmond had told Nardone's assistant not to order tents for the office that would allow staff to sleep by their desks and work around the clock to get Fling back onto the App Store, a former employee told Business Insider. Nardone shouted and swore at Osmond before squaring up to him as if he was about to do something more, said two former employees. [...] On the day, Nardone asked staff to work late so they could address the issue. The CEO turned up in the middle of the night with two women that staff had never seen before and took them into a room, according to three former employees.
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All the research says you are completely wrong.
Even professional stock pickers, the ones who manage funds for a living, fail to outperform a broad stock index like the S&P 500 over time. Hot one year, a skunk the next. Seriously, look it up. The problem is that the information you are using to make your picks is known to everyone else too. This drives the stock price. Unless you have insider information (which is a crime to use to make trades), there is no way you "know" better than anyone else which way a stock will go.
Do yourself a favor and set aside a chunk of money in an S&P 500 (or moral equivalent) index fund and use the rest for active trading. Compare your total returns for both after 1, 3, 5 years. See for yourself. Hell, you don't even have to do that: if you can be honest with yourself, compare your total returns against publicly published S&P 500 total return data.
I challenge you to demonstrate to yourself that you have outperformed the S&P 500 index fund. Include ALL trading costs when you do so, and include re-investment of dividends into the 500 fund when you do this, don't just look at stock price.