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Getbig Main Boards => Gossip & Opinions => Topic started by: Darren Avey on October 01, 2014, 10:52:02 AM

Title: Is being in "finance" the new MMA?
Post by: Darren Avey on October 01, 2014, 10:52:02 AM
I mean everyone on here claims to work in "finance" and of course you re all mega successful and drive brand new Aston Martins and stuff! Jeez its like when everyone was a cage fighter!
Title: Re: Is being in "finance" the new MMA?
Post by: IronMeister on October 01, 2014, 11:01:10 AM
(http://i58.tinypic.com/w19sb4.jpg)
Title: Re: Is being in "finance" the new MMA?
Post by: Man of Steel on October 01, 2014, 11:01:55 AM
I mean everyone on here claims to work in "finance" and of course you re all mega successful and drive brand new Aston Martins and stuff! Jeez its like when everyone was a cage fighter!

Here's a bit of reality.  I do work in finance and accounting and I'm about as middle of the road as it goes. 

As compared to many parts of the world I'm very wealthy.  As compared to parts of my city I'm very wealthy.  As compared to some of my friends I'm poor. As compared to those I work with I'm poor LOL.

It's all relative.
Title: Re: Is being in "finance" the new MMA?
Post by: D.O.A. on October 01, 2014, 11:04:14 AM
I mean everyone on here claims to work in "finance" and of course you re all mega successful and drive brand new Aston Martins and stuff! Jeez its like when everyone was a cage fighter!
I'm not! I'm just an average idiot. The truth
But i like it here its fun with all the mma fighters and millionaires.
Title: Re: Is being in "finance" the new MMA?
Post by: _aj_ on October 01, 2014, 11:08:54 AM
I mean everyone on here claims to work in "finance" and of course you re all mega successful and drive brand new Aston Martins and stuff! Jeez its like when everyone was a cage fighter!

We are all 6'2"+ and 250 @ 8% BF. It's like a board of nothing but uber-successful muscle men.

Or a bunch of bullshitters.
Title: Re: Is being in "finance" the new MMA?
Post by: ChopperRider on October 01, 2014, 11:09:31 AM
I mean everyone on here claims to work in "finance" and of course you re all mega successful and drive brand new Aston Martins and stuff! Jeez its like when everyone was a cage fighter!

Darren.....your threads are awesome.

I "heart" all 4'-6" of you.

 ;D
Title: Re: Is being in "finance" the new MMA?
Post by: MikMaq on October 01, 2014, 11:38:12 AM
I mean everyone on here claims to work in "finance" and of course you re all mega successful and drive brand new Aston Martins and stuff! Jeez its like when everyone was a cage fighter!
Lol spent an hour talking to my landlords son-in-law, about potash in east africa. He had me convinced it was the next big thing.

Seriously thought dude was involved in that shit, turns out he worked at a pizza house, and was just dropping cash on penny stocks  ::).

The ironic part was he wasn't white, and my landlord was ultra hard ass russian jew.

Assumed he had to be loaded to get permission from the father.

Title: Re: Is being in "finance" the new MMA?
Post by: James28 on October 01, 2014, 11:46:54 AM
I mean everyone on here claims to work in "finance" and of course you re all mega successful and drive brand new Aston Martins and stuff! Jeez its like when everyone was a cage fighter!

Your average person you see walking on the street struggle with money. Very few people are comfortable. Even less very well off. Almost 1% truly 'rich'.

Me and the girlfriend are friends with this other couple. New SUV,  he gets a free house or heavily subsidised through his work. Couldn't meet us for drinks the other night as it 'wasn't pay day yet'. Now it is pay day and they're off on holiday the same day.

I don't see people that's shit with money as real people. Just scum that evolved to talk and walk like humans.
Title: Re: Is being in "finance" the new MMA?
Post by: Tapeworm on October 01, 2014, 11:53:04 AM
Today, I removed and cleaned the diesel fuel tank from a Lincoln Ranger 405D generator/welder which I bought at a machinery auction.  I also purged the coolant from the radiator with compressed air and all looked good.  Pressure washed the body panels and drip tray.  Tomorrow I will bleed the fuel lines, warm it up, and change out the oil.  Should last me a decade at least.  66 hours logged & got it for a song.  

All day long the dog was patient & well behaved, except for following the neighbor's dog over the road back home, but I'm pretty sure it was by canine invitation.

I've also recently reset the valve clearance on a Honda GX390 and put right a Kohler Magnum 8's fuel pump and carb issues.  Both now smooth as butter.  These will be pulley mounted to hydraulic pumps also acquired at auction.  Direct coupling is a future option once my lathe is up.

I'm not in finance.  I prefer to do what I want with my time.  Today was great.  How do you reckon wealth?
Title: Re: Is being in "finance" the new MMA?
Post by: FermiDirac on October 01, 2014, 11:54:37 AM
I don't think there are so many in "finance" here? ???

I don't see many threads about 20:30 reservations at Dorsia.
Title: Re: Is being in "finance" the new MMA?
Post by: a_pupil on October 01, 2014, 12:09:36 PM
Us getbiggers pride ourselves on our business ventures in dubai, india.
Title: Re: Is being in "finance" the new MMA?
Post by: heenok on October 01, 2014, 12:12:55 PM
Your average person you see walking on the street struggle with money. Very few people are comfortable. Even less very well off. Almost 1% truly 'rich'.

Me and the girlfriend are friends with this other couple. New SUV,  he gets a free house or heavily subsidised through his work. Couldn't meet us for drinks the other night as it 'wasn't pay day yet'. Now it is pay day and they're off on holiday the same day.

I don't see people that's shit with money as real people. Just scum that evolved to talk and walk like humans.

you just seem really bitter about the fact your friend got a SUV and a house
Title: Re: Is being in "finance" the new MMA?
Post by: no one on October 01, 2014, 12:36:38 PM
Today, I removed and cleaned the diesel fuel tank from a Lincoln Ranger 405D generator/welder which I bought at a machinery auction.  I also purged the coolant from the radiator with compressed air and all looked good.  Pressure washed the body panels and drip tray.  Tomorrow I will bleed the fuel lines, warm it up, and change out the oil.  Should last me a decade at least.  66 hours logged & got it for a song.  

All day long the dog was patient & well behaved, except for following the neighbor's dog over the road back home, but I'm pretty sure it was by canine invitation.

I've also recently reset the valve clearance on a Honda GX390 and put right a Kohler Magnum 8's fuel pump and carb issues.  Both now smooth as butter.  These will be pulley mounted to hydraulic pumps also acquired at auction.  Direct coupling is a future option once my lathe is up.

I'm not in finance.  I prefer to do what I want with my time.  Today was great.  How do you reckon wealth?


great post.

btw I go thru the same thing w my dogs all the time when I'm out puttering abt.
Title: Re: Is being in "finance" the new MMA?
Post by: Nick Danger on October 01, 2014, 12:37:33 PM
Today, I removed and cleaned the diesel fuel tank from a Lincoln Ranger 405D generator/welder which I bought at a machinery auction.  I also purged the coolant from the radiator with compressed air and all looked good.  Pressure washed the body panels and drip tray.  Tomorrow I will bleed the fuel lines, warm it up, and change out the oil.  Should last me a decade at least.  66 hours logged & got it for a song.  

All day long the dog was patient & well behaved, except for following the neighbor's dog over the road back home, but I'm pretty sure it was by canine invitation.

I've also recently reset the valve clearance on a Honda GX390 and put right a Kohler Magnum 8's fuel pump and carb issues.  Both now smooth as butter.  These will be pulley mounted to hydraulic pumps also acquired at auction.  Direct coupling is a future option once my lathe is up.

I'm not in finance.  I prefer to do what I want with my time.  Today was great.  How do you reckon wealth?

I don't understand most of it but I like it !
Title: Re: Is being in "finance" the new MMA?
Post by: HonestBob on October 01, 2014, 01:10:52 PM
I mean everyone on here claims to work in "finance" and of course you re all mega successful and drive brand new Aston Martins and stuff! Jeez its like when everyone was a cage fighter!

Calm down Trotsky.

Most of the people in here who write about finance do sound very much like they are in finance.  The watches threads aren't for me but unlike those of you with Socialist tendencies I am not consumed with envy for people with nice things.  Each to their own and aspire for things that make you happy.

Title: Re: Is being in "finance" the new MMA?
Post by: Natural Man on October 01, 2014, 01:16:23 PM
I'm better than all of you.
Title: Re: Is being in "finance" the new MMA?
Post by: the trainer on October 01, 2014, 01:24:06 PM
I dabble in finance to help grow my money but I am a trainer.
Title: Re: Is being in "finance" the new MMA?
Post by: Tapeworm on October 01, 2014, 01:43:55 PM
I'm bitter than all of you.

I can't compete.
Title: Re: Is being in "finance" the new MMA?
Post by: thebrink on October 01, 2014, 01:49:14 PM
We are all 6'2"+ and 250 @ 8% BF. It's like a board of nothing but uber-successful muscle men.

Or a bunch of bullshitters.

Board full of envious jealous losers.
Title: Re: Is being in "finance" the new MMA?
Post by: denarii on October 01, 2014, 01:50:21 PM
Calm down Trotsky.

Most of the people in here who write about finance do sound very much like they are in finance.  The watches threads aren't for me but unlike those of you with Socialist tendencies I am not consumed with envy for people with nice things.  Each to their own and aspire for things that make you happy.



the gay bracelet thread  ::)
Title: Re: Is being in "finance" the new MMA?
Post by: Hulkotron on October 01, 2014, 02:04:21 PM
(http://i58.tinypic.com/w19sb4.jpg)

Haha 'Big' Dan Hill

He doesn't strike me as a Mensa Member.
Title: Re: Is being in "finance" the new MMA?
Post by: _aj_ on October 01, 2014, 04:44:36 PM
Haha 'Big' Dan Hill

He doesn't strike me as a Mensa Member.

Both he and his lovely wife attend regular Mensa meetings. They discourse at length on mathematics and ancient civilizations.
Title: Re: Is being in "finance" the new MMA?
Post by: _bruce_ on October 02, 2014, 05:08:03 AM
Calm down Trotsky.

Most of the people in here who write about finance do sound very much like they are in finance.  The watches threads aren't for me but unlike those of you with Socialist tendencies I am not consumed with envy for people with nice things.  Each to their own and aspire for things that make you happy.



x2
Title: Re: Is being in "finance" the new MMA?
Post by: wolfrittner on October 02, 2014, 05:17:04 AM
Calm down Trotsky.

Most of the people in here who write about finance do sound very much like they are in finance.  The watches threads aren't for me but unlike those of you with Socialist tendencies I am not consumed with envy for people with nice things.  Each to their own and aspire for things that make you happy.


Hahaha@ Trotsky!! 8)
Title: Re: Is being in "finance" the new MMA?
Post by: MONSTER_TRICEPS on October 02, 2014, 05:21:45 AM
Today, I removed and cleaned the diesel fuel tank from a Lincoln Ranger 405D generator/welder which I bought at a machinery auction.  I also purged the coolant from the radiator with compressed air and all looked good.  Pressure washed the body panels and drip tray.  Tomorrow I will bleed the fuel lines, warm it up, and change out the oil.  Should last me a decade at least.  66 hours logged & got it for a song.  

All day long the dog was patient & well behaved, except for following the neighbor's dog over the road back home, but I'm pretty sure it was by canine invitation.

I've also recently reset the valve clearance on a Honda GX390 and put right a Kohler Magnum 8's fuel pump and carb issues.  Both now smooth as butter.  These will be pulley mounted to hydraulic pumps also acquired at auction.  Direct coupling is a future option once my lathe is up.

I'm not in finance.  I prefer to do what I want with my time.  Today was great.  How do you reckon wealth?


This looks like my day as well haha. My car is over 30 years old and worth 800$, but I love the fact that I have the skill to fix anything that can ever break on it.
Title: Re: Is being in "finance" the new MMA?
Post by: Army of One on October 02, 2014, 05:26:34 AM
Wasn't in finance but I retired at 31.
Title: Re: Is being in "finance" the new MMA?
Post by: loco on October 02, 2014, 05:42:45 AM
Your average person you see walking on the street struggle with money. Very few people are comfortable. Even less very well off. Almost 1% truly 'rich'.

Me and the girlfriend are friends with this other couple. New SUV,  he gets a free house or heavily subsidised through his work. Couldn't meet us for drinks the other night as it 'wasn't pay day yet'. Now it is pay day and they're off on holiday the same day.

I don't see people that's shit with money as real people. Just scum that evolved to talk and walk like humans.

"Most of the truly wealthy in the United States don’t live in Beverly Hills or on Park Avenue. They live next door.

America’s wealthy seldom get that way through an inheritance or an advanced degree. They bargain-shop for used cars, raise children who don’t realize how rich their families are, and reject a lifestyle of flashy exhibitionism and competitive spending. In fact, the glamorous people many of us think of as “rich” are actually a tiny minority of America’s truly wealthy citizens—and behave quite differently than the majority. " - The Millionaire Next Door by Thomas J. Stanley Ph.D.
http://www.amazon.com/Millionaire-Next-Thomas-Stanley-Ph-D-ebook/dp/B00CLT31D6/ref=sr_1_1?s=books&ie=UTF8&qid=1412253496&sr=1-1&keywords=the+millionaire+next+door
Title: Re: Is being in "finance" the new MMA?
Post by: SOMEPARTS on October 02, 2014, 06:06:31 AM
"Most of the truly wealthy in the United States don’t live in Beverly Hills or on Park Avenue. They live next door.

America’s wealthy seldom get that way through an inheritance or an advanced degree. They bargain-shop for used cars, raise children who don’t realize how rich their families are, and reject a lifestyle of flashy exhibitionism and competitive spending. In fact, the glamorous people many of us think of as “rich” are actually a tiny minority of America’s truly wealthy citizens—and behave quite differently than the majority. " - The Millionaire Next Door by Thomas J. Stanley Ph.D.
http://www.amazon.com/Millionaire-Next-Thomas-Stanley-Ph-D-ebook/dp/B00CLT31D6/ref=sr_1_1?s=books&ie=UTF8&qid=1412253496&sr=1-1&keywords=the+millionaire+next+door



Read that book when I was just out of high school...I never forgot a lot of things in it.

If somebody is bragging about being in finance I would take that as a "top tick" of the market of sorts...especially these younger guys that weren't around pre '08. Better save that big paycheck now because the next downturn will be a doozy.
Title: Re: Is being in "finance" the new MMA?
Post by: RancherRanger on October 02, 2014, 07:28:57 AM
I sell insurance. Right now I'm still paying my dues, been with the same company for 10 years. I'd leave but I like my 10,000 Christmas bonus. Not to mention in 2016 I will take over the agency and make almost a grand more a month.
Title: Re: Is being in "finance" the new MMA?
Post by: io856 on October 02, 2014, 08:22:52 AM
I'm better than all of you.
Im better than you
Title: Re: Is being in "finance" the new MMA?
Post by: loco on October 02, 2014, 08:30:30 AM


Read that book when I was just out of high school...I never forgot a lot of things in it.

If somebody is bragging about being in finance I would take that as a "top tick" of the market of sorts...especially these younger guys that weren't around pre '08. Better save that big paycheck now because the next downturn will be a doozy.

Eggxactly, kind of like when everyone(friends, family, pets) was a real estate agent shortly before the housing market crashed.
Title: Re: Is being in "finance" the new MMA?
Post by: Man of Steel on October 02, 2014, 10:24:41 AM
Today, I removed and cleaned the diesel fuel tank from a Lincoln Ranger 405D generator/welder which I bought at a machinery auction.  I also purged the coolant from the radiator with compressed air and all looked good.  Pressure washed the body panels and drip tray.  Tomorrow I will bleed the fuel lines, warm it up, and change out the oil.  Should last me a decade at least.  66 hours logged & got it for a song. 

All day long the dog was patient & well behaved, except for following the neighbor's dog over the road back home, but I'm pretty sure it was by canine invitation.

I've also recently reset the valve clearance on a Honda GX390 and put right a Kohler Magnum 8's fuel pump and carb issues.  Both now smooth as butter.  These will be pulley mounted to hydraulic pumps also acquired at auction.  Direct coupling is a future option once my lathe is up.

I'm not in finance.  I prefer to do what I want with my time.  Today was great.  How do you reckon wealth?

I wish I had skills like that!!
Title: Re: Is being in "finance" the new MMA?
Post by: Grape Ape on October 02, 2014, 10:29:03 AM
Finance is a vague term.  I've seen it used to describe high level investment strategists, and entry level staff accountant types.
Title: Re: Is being in "finance" the new MMA?
Post by: denarii on October 02, 2014, 10:31:23 AM
Finance is a vague term.  I've seen it used to describe high level investment strategists, and entry level staff accountant types.

That's because finance refers to the sector not the job...
Title: Re: Is being in "finance" the new MMA?
Post by: 2Thick on October 02, 2014, 10:34:14 AM
I mean everyone on here claims to work in "finance" and of course you re all mega successful and drive brand new Aston Martins and stuff! Jeez its like when everyone was a cage fighter!

Who cares about that stuff? Can you tell me who would win in a fight between Dalton and Gino? Both are good guys - Dalton turned down Wesley's offer to work for him, and Gino turned down a shot at being a wiseguy.



Title: Re: Is being in "finance" the new MMA?
Post by: Man of Steel on October 02, 2014, 10:34:29 AM
Finance is a vague term.  I've seen it used to describe high level investment strategists, and entry level staff accountant types.

Exactly....it's a generic description. 
Title: Re: Is being in "finance" the new MMA?
Post by: Grape Ape on October 02, 2014, 10:35:28 AM
Exactly....it's a generic description. 

I'm technically considered "in finance", but most of my job is talking to people on the phone.
Title: Re: Is being in "finance" the new MMA?
Post by: 2Thick on October 02, 2014, 10:39:57 AM
Nearly 21 years investing, nearly 11 running money, ~ $100+ AUM. Mainly worked in lending for a decade before running $. Not bragging, just conversation with a little mostly generic advice thrown in here and there.

Lost roughly 25% on the value of my investments from 10/07 - 3/09. It could have been worse.

Can tell me when that crash will be and how bad?

I read that book myself a LONG time ago. One of the very best reads ever, along with Benjamin Graham's "The Intelligent Investor" and a couple others.



Read that book when I was just out of high school...I never forgot a lot of things in it.

If somebody is bragging about being in finance I would take that as a "top tick" of the market of sorts...especially these younger guys that weren't around pre '08. Better save that big paycheck now because the next downturn will be a doozy.
Title: Re: Is being in "finance" the new MMA?
Post by: Man of Steel on October 02, 2014, 10:41:51 AM
I'm technically considered "in finance", but most of my job is talking to people on the phone.

All I do is help others develop budgets/forecasts and automate stuff.....I've never once taken the lead on a big "finance" deal LOL.

I'm the classic analyst that when speaking to folks that have no concept of finance or own a business but always talk a big game about business give me the same ole line in reference to my job......"yeah, I hire people to do that for me."   ::)
Title: Re: Is being in "finance" the new MMA?
Post by: 2Thick on October 02, 2014, 10:44:46 AM
All I do is help others develop budgets/forecasts and automate stuff.....I've never once taken the lead on a big "finance" deal LOL.

I'm the classic analyst that when speaking to folks that have no concept of finance or own a business but always talk a big game about business give me the same ole line in reference to my job......"yeah, I hire people to do that for me."   ::)

Accounting stuff mainly?
Title: Re: Is being in "finance" the new MMA?
Post by: Man of Steel on October 02, 2014, 10:50:06 AM
Accounting stuff mainly?

Used to do only accounting work, but abandoned that for an analytical role....I enjoy more of the creative freedoms that come with it.
Title: Re: Is being in "finance" the new MMA?
Post by: bigmc on October 02, 2014, 10:51:19 AM
Wasn't in finance but I retired at 31.

RETIRED FROM WHAT

from being a DECENT POSTER
Title: Re: Is being in "finance" the new MMA?
Post by: SOMEPARTS on October 02, 2014, 11:00:05 AM
Nearly 21 years investing, nearly 11 running money, ~ $100+ AUM. Mainly worked in lending for a decade before running $. Not bragging, just conversation with a little mostly generic advice thrown in here and there.

Lost roughly 25% on the value of my investments from 10/07 - 3/09. It could have been worse.

Can tell me when that crash will be and how bad?

I read that book myself a LONG time ago. One of the very best reads ever, along with Benjamin Graham's "The Intelligent Investor" and a couple others.





Well, I've already been pulling back on equities a bit because all time highs demanded it - but how long can money be printed, fake numbers, manipulation and corp stock buybacks prop up the market? Probably longer than we think...until some market distortion causes an unforseen event...increase in rates, etc. What is the chance of a 2008 drop happening again? Decent, but average people and boomers have WAY less in reserve than they did then.

Flipped some into land and hard assets...silver at 5 year lows right now for a little insurance, 10% cash on hand...pay attention to upcoming biflation and stagflation. You can't sell all stock because of taxes and nothing is making any return right now. Maybe market goes to the moon because the dollar and our markets are the best of the worst? Who knows.

I was in finance and housing at one point and they same cycles make the same money which is why you keep seeing the same things happen. Will work until it doesn't.
Title: Re: Is being in "finance" the new MMA?
Post by: denarii on October 02, 2014, 11:43:03 AM
RETIRED FROM WHAT


Full time masturbation in parents basement
Title: Re: Is being in "finance" the new MMA?
Post by: heenok on October 02, 2014, 11:44:43 AM
yes everyone trains UFC, flip houses and is a stock market expert nowadays  ::)
Title: Re: Is being in "finance" the new MMA?
Post by: FermiDirac on October 02, 2014, 12:28:08 PM
It's easy to call people out for their bullshit in the "finance" industry since most people are talking out of their rears and seldom know what they are doing or pretending to be doing. The word "hedge" is as misused in finance as "(no homo)" is in the bb industry.
Title: Re: Is being in "finance" the new MMA?
Post by: io856 on October 02, 2014, 12:42:04 PM
"finance" lol
 ::)
Title: Re: Is being in "finance" the new MMA?
Post by: FermiDirac on October 02, 2014, 12:49:42 PM
I'm studying Economics part-time.

I enjoy it. Apparently a lot of people studying business don't.

That's because a lot of those morons believe they will be the next hot shot mega banker a la m&a hot shot.
Title: Re: Is being in "finance" the new MMA?
Post by: denarii on October 02, 2014, 12:52:56 PM
I'm studying Economics part-time.

I enjoy it. Apparently a lot of people studying business don't.

you obviously dont understand the subject matter otherwise you would be laughing at the pseudo science that you are being taught.

have you done the section on the neo-feudal, debt plantation, casino, gulag, economic model currently employed by the US yet?
Title: Re: Is being in "finance" the new MMA?
Post by: Tapeworm on October 03, 2014, 04:08:51 AM

great post.

btw I go thru the same thing w my dogs all the time when I'm out puttering abt.

I don't understand most of it but I like it !


This looks like my day as well haha. My car is over 30 years old and worth 800$, but I love the fact that I have the skill to fix anything that can ever break on it.

I wish I had skills like that!!

I have no idea what I'm doing.  But Falcon was right.  With the help of all the knowledge available online anyone can do this stuff & I'm having a blast.

15kva of genny is fully serviced & voltage tests right on the money.  Next up: Full disassembly of a $75 auction bought diesel engine for education's sake.  Hey maybe it'll even run if I put it back together right.
Title: Re: Is being in "finance" the new MMA?
Post by: 2Thick on October 04, 2014, 09:13:10 AM
Yeah, all of this printing and pumping and holding rates down will have consequences eventually. I'm mostly bottom-up, and I do like liquidity, so I mostly stick to "paper" - stocks, commodities, some bonds at times, and a variable annuity I'm growing until 60 - all in taxable accounts... and more conservative IRAs with mostly mutual funds in them.

As far as hard assets, mainly a nice home I just had built and a little bit of land that Chevron has been drilling on for years - they pay me a lease fee and 20% of what they pull out of the ground - it's another very nice stream of income, but it will eventually dry up sooner or later.

I figure that IF things ever get as bad as some think they will, all the gold in California won't matter. I think guns, bullets, safe to eat food, clean water, and avoiding illness will be the keys to some surviving longer than others. I think an absolute crash of the dollar that would destroy the entire financial system would also paralyze everything else and lead to total lawless chaos and perhaps eventual human extinction. I certainly hope that never happens and doubt it will, and refuse to live my life in complete fear of such a disaster.





Well, I've already been pulling back on equities a bit because all time highs demanded it - but how long can money be printed, fake numbers, manipulation and corp stock buybacks prop up the market? Probably longer than we think...until some market distortion causes an unforseen event...increase in rates, etc. What is the chance of a 2008 drop happening again? Decent, but average people and boomers have WAY less in reserve than they did then.

Flipped some into land and hard assets...silver at 5 year lows right now for a little insurance, 10% cash on hand...pay attention to upcoming biflation and stagflation. You can't sell all stock because of taxes and nothing is making any return right now. Maybe market goes to the moon because the dollar and our markets are the best of the worst? Who knows.

I was in finance and housing at one point and they same cycles make the same money which is why you keep seeing the same things happen. Will work until it doesn't.
Title: Re: Is being in "finance" the new MMA?
Post by: 2Thick on October 04, 2014, 09:20:04 AM
It's easy to call people out for their bullshit in the "finance" industry since most people are talking out of their rears and seldom know what they are doing or pretending to be doing. The word "hedge" is as misused in finance as "(no homo)" is in the bb industry.

Would these definitions / uses meet your criteria of correct usage of the word? Please let us all know if not. I'm the first to admit I don't know everything, and am always ready to learn.

http://www.investopedia.com/terms/h/hedge.asp (http://www.investopedia.com/terms/h/hedge.asp)

Mallaby defined the "hedge fund" that was initially used many decades ago by a pretty smart guy as basically a long / short fund whose main purpose was to make money while reducing risk through the "hedging" strategy of always being both long AND short. This often resulted in underperforming the markets in "up" market years and outperforming the markets in down years, and over time outperforming the markets with less risk.

http://www.amazon.com/More-Money-Than-God-Relations/dp/0143119419 (http://www.amazon.com/More-Money-Than-God-Relations/dp/0143119419)

Legally speaking, a "hedge fund" is a type of private investment fund.
Title: Re: Is being in "finance" the new MMA?
Post by: pedro01 on October 04, 2014, 09:22:03 AM
I am in finance.

Sadly, not the side of finance that gets huge bonuses for doing fuck all.

I have a product, people buy it (and lease other parts), I get paid. It just happens to be a product in that sector.

It could be a potato peeler to be honest.

I am improving the product all the time with a small team and one day I hope to knock a few products higher up the food chain off their perches.

I did speak to an investment banker about financing the improvements but when he put 3 upturned cups on the table, told me my share was under one and started shuffling them about, I decided to walk and attempt to finance it myself.

Shady motherfuckers those guys...

"I'll give you $xxx for 51% of your company. I'll pay you $xxx of that up front. The remaining $xxx I will give you when I sell the company."

So I'm thinking about it for a while.....

"So where's my 49% gone, then?"
Title: Re: Is being in "finance" the new MMA?
Post by: FermiDirac on October 04, 2014, 12:29:54 PM
Would these definitions / uses meet your criteria of correct usage of the word? Please let us all know if not. I'm the first to admit I don't know everything, and am always ready to learn.

http://www.investopedia.com/terms/h/hedge.asp (http://www.investopedia.com/terms/h/hedge.asp)

Mallaby defined the "hedge fund" that was initially used many decades ago by a pretty smart guy as basically a long / short fund whose main purpose was to make money while reducing risk through the "hedging" strategy of always being both long AND short. This often resulted in underperforming the markets in "up" market years and outperforming the markets in down years, and over time outperforming the markets with less risk.

http://www.amazon.com/More-Money-Than-God-Relations/dp/0143119419 (http://www.amazon.com/More-Money-Than-God-Relations/dp/0143119419)

Legally speaking, a "hedge fund" is a type of private investment fund.

That definition is correct. I even recall someone using that video as a part of a presentation when I attended a course in portfolio analysis. :D
investopedia of peace.

From my experience, many people I've encountered believes hedging strategies to be equal to a risk-free profit strategy, i.e. an arbitrage.
Although, I might add that these people are usually undergrads or people outside of the industry.
Title: Re: Is being in "finance" the new MMA?
Post by: denarii on October 04, 2014, 12:44:00 PM
Yeah, all of this printing and pumping and holding rates down will have consequences eventually.


Pretty classic statement. 'Rates' refers to the rates curve. He didn't say interest rates. Is there any empirical evidence to show that fed QE has kept rates lower than they would have been? Every time the fed has tried to withdraw policy since 2008, rates have fallen as markets priced in a deflationary recession. Empirically you can state for a fact that fed QE has kept rates higher than they would have been without QE. However without QE the s&p would probably be trading at about 1000...

In before local hero tells me I don't know what I am talking about and that the fed has helped working people. Idiot.
Title: Re: Is being in "finance" the new MMA?
Post by: SOMEPARTS on October 04, 2014, 12:46:19 PM
Yeah, all of this printing and pumping and holding rates down will have consequences eventually. I'm mostly bottom-up, and I do like liquidity, so I mostly stick to "paper" - stocks, commodities, some bonds at times, and a variable annuity I'm growing until 60 - all in taxable accounts... and more conservative IRAs with mostly mutual funds in them.

As far as hard assets, mainly a nice home I just had built and a little bit of land that Chevron has been drilling on for years - they pay me a lease fee and 20% of what they pull out of the ground - it's another very nice stream of income, but it will eventually dry up sooner or later.

I figure that IF things ever get as bad as some think they will, all the gold in California won't matter. I think guns, bullets, safe to eat food, clean water, and avoiding illness will be the keys to some surviving longer than others. I think an absolute crash of the dollar that would destroy the entire financial system would also paralyze everything else and lead to total lawless chaos and perhaps eventual human extinction. I certainly hope that never happens and doubt it will, and refuse to live my life in complete fear of such a disaster.



Sounds good. This idea that 401k etc is "pre-tax" is mis-leading and I'd rather just use the money after tax as I wish from here on out. It won't be tax deferred by the time most younger people try and cash out, nor will it have the free will involved it has now(ie more gov control). Things you can touch are good for savings and paper makes paper. Nobody wants the dollar to crash but just look at Bitcoin stabilizing and Paypal going up for sale this week...these are indicators of acceptance and that we are moving away from hard and paper money in dollars and into even more unbacked currencies. That's the only way they wash away the huge deficits and printing....a delete button on reset to digital. All of this really far from gold and silver as money which is why metals are in a down trend also I think. Still thinking 10% in metals is okay if you can afford the dead money.
Title: Re: Is being in "finance" the new MMA?
Post by: SOMEPARTS on October 04, 2014, 12:55:04 PM
Pretty classic statement. 'Rates' refers to the rates curve. He didn't say interest rates. Is there any empirical evidence to show that fed QE has kept rates lower than they would have been? Every time the fed has tried to withdraw policy since 2008, rates have fallen as markets priced in a deflationary recession. Empirically you can state for a fact that fed QE has kept rates higher than they would have been without QE. However without QE the s&p would probably be trading at about 1000...

In before local hero tells me I don't know what I am talking about and that the fed has helped working people. Idiot.



We don't know what a non-QE post-2008 would look like and probably with good reason. We've been borrowing/living off of future prosperity since the 70s. Nobody wants the standard of living that real growth would provide. We're now to a point where we have run into no future growth to take from. What are rates supposed to be when money isn't moving and everybody is just holding on to what they have?
Title: Re: Is being in "finance" the new MMA?
Post by: 2Thick on October 04, 2014, 01:10:50 PM
Pretty classic statement. 'Rates' refers to the rates curve. He didn't say interest rates. Is there any empirical evidence to show that fed QE has kept rates lower than they would have been? Every time the fed has tried to withdraw policy since 2008, rates have fallen as markets priced in a deflationary recession. Empirically you can state for a fact that fed QE has kept rates higher than they would have been without QE. However without QE the s&p would probably be trading at about 1000...

In before local hero tells me I don't know what I am talking about and that the fed has helped working people. Idiot.

The Fed cut interest rates to the bone roughly a half dozen years ago, and they've stayed basically at zero since. They will raise rates eventually - there's constant talking always going on about "when" it will happen. They've also been pushing lots of $ into the markets with asset purchases that they've recently tapered. And printing money.

Depending upon who you ask, they've either done it just right or they're way behind the curve.

I've mentioned here previously that I bought Twitter in early June, just after the lockup expired and the stock had sold off heavily. Bought it just above 30. Too easy - I didn't bother worrying about interest rates or Fed actions or any other macro factors.

Also mentioned that I bought Tekmira under $14 a few weeks ago, it's near 30 now. I didn't think about the Fed then either.


Fundamentals.
Title: Re: Is being in "finance" the new MMA?
Post by: 2Thick on October 04, 2014, 01:23:26 PM


Sounds good. This idea that 401k etc is "pre-tax" is mis-leading and I'd rather just use the money after tax as I wish from here on out. It won't be tax deferred by the time most younger people try and cash out, nor will it have the free will involved it has now(ie more gov control). Things you can touch are good for savings and paper makes paper. Nobody wants the dollar to crash but just look at Bitcoin stabilizing and Paypal going up for sale this week...these are indicators of acceptance and that we are moving away from hard and paper money in dollars and into even more unbacked currencies. That's the only way they wash away the huge deficits and printing....a delete button on reset to digital. All of this really far from gold and silver as money which is why metals are in a down trend also I think. Still thinking 10% in metals is okay if you can afford the dead money.



I am self-employed for the last several years and have had a SEP set up for a while.

And I've worked for others in the past and always contributed religiously to traditional 401ks that were eventually rolled over from former employers to brokerage account IRAs from when I switched companies several times.

I haven't been Roth IRA eligible for many years, but I also jumped into a Roth 401k (after tax $) when they first came out when I was still a retail broker for a big firm.

I also put a lump sum into a variable annuity some years ago and add to it. I'm 45 now and hope to retire at 60 and start drawing my $ on these retirement instruments while I continue to invest pretty aggressively in my other taxable accounts.
Title: Re: Is being in "finance" the new MMA?
Post by: denarii on October 05, 2014, 03:12:24 PM


We don't know what a non-QE post-2008 would look like and probably with good reason. We've been borrowing/living off of future prosperity since the 70s. Nobody wants the standard of living that real growth would provide. We're now to a point where we have run into no future growth to take from. What are rates supposed to be when money isn't moving and everybody is just holding on to what they have?

well as the fed has tried to withdraw policy this year the curve has bear steepened... so you answer that question.

Title: Re: Is being in "finance" the new MMA?
Post by: Hulkotron on October 05, 2014, 03:26:24 PM
Most getbiggers prefer a bear market.
Title: Re: Is being in "finance" the new MMA?
Post by: 2Thick on October 06, 2014, 02:27:17 PM
That definition is correct. I even recall someone using that video as a part of a presentation when I attended a course in portfolio analysis. :D
investopedia of peace.

From my experience, many people I've encountered believes hedging strategies to be equal to a risk-free profit strategy, i.e. an arbitrage.
Although, I might add that these people are usually undergrads or people outside of the industry.


No such thing as NO risk.
Title: Re: Is being in "finance" the new MMA?
Post by: TEH boob on October 06, 2014, 08:19:59 PM
All I do is help others develop budgets/forecasts and automate stuff.....I've never once taken the lead on a big "finance" deal LOL.

I'm the classic analyst that when speaking to folks that have no concept of finance or own a business but always talk a big game about business give me the same ole line in reference to my job......"yeah, I hire people to do that for me."   ::)

Lol, assholes