When I was 18 everyone was out going to raves and shit while I was in college and working as a server, saving all the money I could. I invested my life savings in the company behind these raves, SFX Entertainment. I would call into earnings reports and ask questions and analyze the 8&10k’s.
I remember the quarter before they declared bankruptcy I asked the CEO on one of these calls if they were considering bankruptcy because the debt was growing but he reassured me the debt was from acquisitions to increase revenues and bankruptcy wasn’t on the table. They filed bankruptcy when I was 20 and my shares were worthless.
At the time the company was valued at $10,000,000 and I had accumulated a position worth $20,000. Supposedly the rebranded company LiveStyle is worth $15B today and my position would be worth $30,000,000. [ https://matrixbcg.com/blogs/brief-history/livestyle ](https://matrixbcg.com/blogs/brief-history/livestyle)
I still have the worthless SFXEQ shares in my old brokerage account.
