Some silly and formerly-rich women clearly do not understand the dynamic nature of investments:
Michelle Young was supposed to face her estranged husband Scot in the High Court this week, but has had to postpone the hearing while she finds further funding. For the last three years, the couple has been embroiled in a bitter fight over his alleged multi-million pound fortune which she says he is hiding and he claims he no longer exists.
Last December, Mr Young was ordered by the court to pay his wife £27,500 a month pending their divorce settlement but he has since been declared bankrupt. At their last court appearance, Mrs Young said she was down to her last £13,000 of savings and owes £660,000 in unpaid legal fees.
The guy has been declared bankrupt. The money is gone. Clearly his creditors understand this, so what sort of cretin finds it hard to grasp the concept? You don’t make £400 million without leverage, so it’s not at all hard to figure out where the money went. Profit by the leverage, die by the margin call.