I’m about to make the worst financial decision of my life

There is a chance this could be the worst financial decision of my life. I’m going to make the case that it isn’t, but I have a feeling a lot of you may disagree. I’m hoping to get the other perspective.

Potential position: 300k in TQQQ

I can’t take it anymore. I’ve been reading about leveraged ETFs for multiple days. They are no risk. A while ago I said I was going to buy regular stocks. Most of them were tech. I was told with my portfolio I might as well buy QQQ.

Here’s the no risk thesis: 10 years from now QQQ will be higher than it is right now. It’s impossible for tech to shit the bed that hard for 10 years. Therefore any buys at these levels will be higher than they are in 10 years.

If QQQ will go up. TQQQ will go up more. You don’t need research, this is common sense. The only risk is TQQQ could shut down if QQQ drops 33% in a day. That is literally impossible though. Tech is hammered so hard right now. Sure it will likely drop more, but 33% in a day is apocalypse level shit. Even during Covid it didn’t get that bad and people thought the world was ending.

TQQQ will go lower than what I will buy it at. I will likely stomach large losses in this environment. To mitigate this I will buy in chunks as it drops every 5%. Every 5% drop from my average I would buy $15k. If it keeps dropping I may use margin although the risk of a margin call may not be worth it. The main thing is I can NEVER SELL. When QQQ finally recovers, all these losses will be wiped out.

Sure there’s volatility decay and a .95% expense ratio, but that is negligible to the returns one would make long term.

Buying the dips in 2008 and 2020 on TQQQ would net you massive gains, EVEN IF YOU CAUGHT THE FALLING KNIFE! This dip in TQQQ is huge opportunity. Yes I’ll likely catch a falling knife but that does not matter! With such a low cost basis compared to when QQQ recovers, decay and expense ratio are nothing.

I might even wait for it to drop under $30 before entering. This requires and iron stomach but in the end it is guaranteed to workout. I would never check my portfolio performance in order to mask the wealth destruction. I believe this is a highly intelligent idea.