Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Gossip & Opinions => Topic started by: Tapeworm on March 29, 2020, 04:59:18 AM
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I'm an investment idiot but am considering putting a few thousand into coins to keep on hand. Just cuz. Think I can buy from the mint and walk out with them same day.
Even if it all goes completely the wrong way for me, seems I'd be unlikely to give away more than 15% on the deal. Or I could just tuck 'em in the bunker for next time the fan and the shit are in immediate proximity.
Gold and silver, equal purchase? If not, how come?
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I got scrap metal . I will build a voltaic pile . Coins are only good for heat sink fins or capacitor plates
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I'm an investment idiot but am considering putting a few thousand into coins to keep on hand. Just cuz. Think I can buy from the mint and walk out with them same day.
Even if it all goes completely the wrong way for me, seems I'd be unlikely to give away more than 15% on the deal. Or I could just tuck 'em in the bunker for next time the fan and the shit are in immediate proximity.
Gold and silver, equal purchase? If not, how come?
Prices are too high right now.
You'd be one of the suckers lining up to give your money to the sharks, buying high, selling low.
The smart move is a low cost, no load, total market equity index fund. Invest a do-able amount every month. In your 401k or a Roth IRA or in a taxable account.
Like the "Vanguard Total Market Equity Index Fund".
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Crypto is the way to go.Its all moving to digital currency.
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go cash and buy residential real estate
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go cash and buy residential real estate
that would be 130k at minimal
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Prices are too high right now.
You'd be one of the suckers lining up to give your money to the sharks, buying high, selling low.
The smart move is a low cost, no load, total market equity index fund. Invest a do-able amount every month. In your 401k or a Roth IRA or in a taxable account.
Like the "Vanguard Total Market Equity Index Fund".
I actually set up a Vanguard account for shits last week and that’s exactly what I went with. I just did the minimum for the Admiral shares. I already have plenty in both Fidelity and TDA (all low cost market ETFs) and just wanted to try a new broker where I can have weekly automatic bank transfers combined w/ automatic weekly investing. Fidelity only had monthly automatic buying plus I always liked Jack Bogle’s message. Seems like the most tax-efficient equity fund that I can think of as well.
If you look at the long-term returns of metals of let’s say 10 or 30 years, gold underperforms equities. I believe gold beat equites in the 15 year returns, but it takes certain windows for it to do so which usually close fairy quickly. Even after this current crash, GLD(gold etf) underperformed SPY (S&P 500) for the 10 year returns.
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I actually set up a Vanguard account for shits last week and that’s exactly what I went with. I just did the minimum for the Admiral shares. I already have plenty in both Fidelity and TDA (all low cost market ETFs) and just wanted to try a new broker where I can have weekly automatic bank transfers combined w/ automatic weekly investing. Fidelity only had monthly automatic buying plus I always liked Jack Bogle’s message. Seems like the most tax-efficient equity fund that I can think of as well.
Good pick.
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I'm an investment idiot but am considering putting a few thousand into coins to keep on hand. Just cuz. Think I can buy from the mint and walk out with them same day.
Even if it all goes completely the wrong way for me, seems I'd be unlikely to give away more than 15% on the deal. Or I could just tuck 'em in the bunker for next time the fan and the shit are in immediate proximity.
Gold and silver, equal purchase? If not, how come?
Historically in these situations, people always react the same. Panic buying, pulling cash from the banks and panic into bullion. You want to be early to this party, not late. Bullion is selling out and is getting hard to get, especially with refiners and mints shutting down. Silver is very cheap at the moment, as it's being supressed. Gold and silver have been money for thousands of years. Fiat currency always fails and goes to its intrinsic value of zero. Gold is great, but harder for the common man to afford. In a currency crisis, it may be hard to make change for a 1 ounce gold coin that is at that time worth several thousands of dollars. Silver is more advantageous in that scenario, but silver is much bulkier to store and carry comparitively based on worth.
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I'm an investment idiot but am considering putting a few thousand into coins to keep on hand. Just cuz. Think I can buy from the mint and walk out with them same day.
Even if it all goes completely the wrong way for me, seems I'd be unlikely to give away more than 15% on the deal. Or I could just tuck 'em in the bunker for next time the fan and the shit are in immediate proximity.
Gold and silver, equal purchase? If not, how come?
If you are thinking down these lines also by some digital gold aka Bitcoin.
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Ok, I'll count on the economic system not to crash and burn. But isn't all the "free" money getting paid out going to devalue the hell out of currency? Isnt there massive uncertainty about how long these corona measures will hold the economy's face in the mud, and how well it'll bounce back? There's all kinds of talk about how grim things are and it hasn't even really begun yet, so I was thinking metals for the upcoming uncertainty. I know I'm so 101 with $. Sorry.
I still predict wide deployment of the National Guard and regular military in the US. Doubt they'll make a formal declaration of martial law, but it'll be martial law by another name. "The Civil Safety Force" or some such.
And a 10 percent chance of China invading Australia once the US has its hands full with medical, economic, and civil issues.
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The problem with gold is that while it can be used as money it’s not. When was the last time you paid for something using gold?
The reality is we’re stuck with this fiat money system for the foreseeable future and stockpiling gold isn’t going to change that.
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Ok, I'll count on the economic system not to crash and burn. But isn't all the "free" money getting paid out going to devalue the hell out of currency? Isnt there massive uncertainty about how long these corona measures will hold the economy's face in the mud, and how well it'll bounce back? There's all kinds of talk about how grim things are and it hasn't even really begun yet, so I was thinking metals for the upcoming uncertainty. I know I'm so 101 with $. Sorry.
I still predict wide deployment of the National Guard and regular military in the US. Doubt they'll make a formal declaration of martial law, but it'll be martial law by another name. "The Civil Safety Force" or some such.
And a 10 percent chance of China invading Australia once the US has its hands full with medical, economic, and civil issues.
Cash and cash equivalents will be devalued so you need investments that appreciate faster than inflation like stocks and certain real estate.
Gold has historically only matched inflation over the long term. No growth. It's good for an inflation hedge but a lousy investment.
Having a small amount of gold on hand, held personally, would be insurance against financial apocalypse. A few gold coins.
An end times scenario.
The problem with owning a large amount of gold is where to keep it. Bury it in your backyard at night? Storing it at an offsite secure facility is expensive.
The first rule about owning gold: Never tell anyone you own gold.
The second rule about owning gold: Never tell anyone you own gold.
The third rule about owning gold: Never tell anyone you own gold.
Etc.
How about owning gold mining company stock? In an end times scenario that will do you no good. You need physical possession of the coins.
If you're worried about the apocalypse buy a few gold coins and keep them safe and tell no one.
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You want to be early to this party, not late. Bullion is selling out and is getting hard to get
Yep, sold out. :-\ Don't have any guns either. My goose is cooked.
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Yep, sold out. :-\ Don't have any guns either. My goose is cooked.
Do you honesty think if things collapsed that you’d be going to the store with a pouch full of gold coins? The world would be chaotic where anything goes. Guns>gold
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Do you honesty think if things collapsed that you’d be going to the store with a pouch full of gold coins? The world would be chaotic where anything goes. Guns>gold
Heard they have closed the gun stores in Aus.
No, I don't think there would be a grocery store to go to in that situation. I doubt that would happen anyway, but they have sold out so some people seem to believe in gold on hand.
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Heard they have closed the gun stores in Aus.
No, I don't think there would be a grocery store to go to in that situation. I doubt that would happen anyway, but they have sold out so some people seem to believe in gold on hand.
The same thing happened after the housing crisis. Fear overcomes any rational thought in these people. I wouldn’t sweat it, iron brother! These are the kind of people who can’t take the pain and sell their shares at the bottom of the market right before a rebound. Emotional decisions are usually very poor decisions.
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Heard they have closed the gun stores in Aus.
No, I don't think there would be a grocery store to go to in that situation. I doubt that would happen anyway, but they have sold out so some people seem to believe in gold on hand.
On average , every Aussie farmer owns 6 rifles ;D
Most of them make munition by themselves (no need licence) ;)
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Prices are too high right now.
You'd be one of the suckers lining up to give your money to the sharks, buying high, selling low.
The smart move is a low cost, no load, total market equity index fund. Invest a do-able amount every month. In your 401k or a Roth IRA or in a taxable account.
Like the "Vanguard Total Market Equity Index Fund".
Wise getbigger.
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Gold and silver to physically get in your hand is 2 months out online. If you don't already have it now I wouldn't bet on getting any soon.
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Day late and a dollar short.
Oh well. I'm sure nothing bad will happen. ::)
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I would invest in a mutual fund with stocks that are more dependable and will eventually go up, or back up in the next year or so. Having one or two stocks is more complicated at the moment vs a mutual fund, which are down at the moment. Even if they go down a little more, they will eventually go back up. Or stay with the banks for 1.5% interest a year. Keep a mix of all
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The problem with gold is that while it can be used as money it’s not. When was the last time you paid for something using gold?
The reality is we’re stuck with this fiat money system for the foreseeable future and stockpiling gold isn’t going to change that.
Yep, I wouldn't ever think of it as a form of money. Just an investment like any other. Sell high.
People will be using bullets and bread before gold.
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go cash and buy residential real estate
I was "hoping" that something similar to 2008 would happen as I am older now and can take advantage of it but not sure about this unless the government is going to pay for their housing. Many will be without jobs.
We will see how it goes currently with the few we have right now. Course if you can buy a house for $10,000 like you could back then you don't have to worry about mortgages or anything.
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I did physical silver many years ago during that silver/gold spike. I see the same stuff written today as i did a decade ago but it will turn out the same.
There was a split between physical and paper. It came back together. Physical was only good providing you sold before the peak. If you hold it after, you end up paying a premium to buy but sell for spot.
Metals will do a run up but you need to wait for the markets to play out and stabilise before the run up begins.
The run should last as long as QE does.
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I currently work at TD Ameritrade and up until our office close last week we were swamped with people coming in with large checks depositing into their accounts. They are sure the market is going to go back up and they're buying stocks at bargain-basement prices. Oil is said to get as low as $25 a barrel and there is no way that is not going to go up eventually.
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They are sure the market is going to go back up and they're buying stocks at bargain-basement prices.
It's week 2 (or 3?) of closures of an 8-12 week period and they think tbis is the bottom.
That's pretty keen.....
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I did physical silver many years ago during that silver/gold spike. I see the same stuff written today as i did a decade ago but it will turn out the same.
There was a split between physical and paper. It came back together. Physical was only good providing you sold before the peak. If you hold it after, you end up paying a premium to buy but sell for spot.
Metals will do a run up but you need to wait for the markets to play out and stabilise before the run up begins.
The run should last as long as QE does.
You can bet that up until the very end of the petrodollar system that two categories of people will be destroyed over and over again....savers and metals holders.
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It's week 2 (or 3?) of closures of an 8-12 week period and they think tbis is the bottom.
That's pretty keen.....
Well, we did have record high. Who knows, I'm. I expert but I see how much these "keen" people are worth in their accounts and they have to be doing something right. We are routinely taking a couple of million everyday just on walk ins.
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Well, we did have record high. Who knows, I'm. I expert but I see how much these "keen" people are worth in their accounts and they have to be doing something right. We are routinely taking a couple of million everyday just on walk ins.
QE money has started to hit, stabilising things for a time but the futures are showing it will be butchered.
Unemployment and consumer market closure along with all the corporate loans isn't yet factored yet because those are lagging factors.
This is way worse than the GFC. If the market only loses 30% on the biggest financisl crisis in our lifetime, that will be worthy of making a religion out of.
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I currently work at TD Ameritrade and up until our office close last week we were swamped with people coming in with large checks depositing into their accounts. They are sure the market is going to go back up and they're buying stocks at bargain-basement prices. Oil is said to get as low as $25 a barrel and there is no way that is not going to go up eventually.
That these people are still using paper checks as opposed to transferring money into their accounts tells me they are unsophisticated investors who will eventually get their asses handed to them.
Just because they’re good at what they do for a living doesn’t mean they’re good at the stock market.
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Whiskey it is then!
If I don't swap it I can drink it.
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That these people are still using paper checks as opposed to transferring money into their accounts tells me they are unsophisticated investors who will eventually get their asses handed to them.
Funny, just as i opened up my browser now, there was an article saying google were concerned over the huge trend in 'how to buy stocks' searches.
These people buy in now, the 2nd wave hits and it starts to crumble, they bail out and lose a bundle.
I have had a few non-financial wary people tell me they are going to buy shares. Ok, no prob, good luck.
Be patient. Wait.
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Funny, just as i opened up my browser now, there was an article saying google were concerned over the huge trend in 'how to buy stocks' searches.
These people buy in now, the 2nd wave hits and it starts to crumble, they bail out and lose a bundle.
I have had a few non-financial wary people tell me they are going to buy shares. Ok, no prob, good luck.
Be patient. Wait.
There is no better indicator of when not to buy than when the unsuspecting public is buying.
The crash this most closely resembles is 1987 which was also accompanied by a health scare, aids. While there was some bounce back and rallies, the market did not break out from the former high until five years later in 1992. I suspect that’s going to be the case here.
Regarding oil, it’s currently at $20 a barrel down from a recent high of 60. Anyone familiar with percentages knows that is 66% drop takes a two hundred percent rise just to get back to even. Anything is possible but it’s highly unlikely.
Insiders go by percentages. So, purchase price doesn’t really matter. With the same amount of money to put to work, oil going from 20 to 30 is the same as it going from 100 to 150. Same deal with stocks.
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That these people are still using paper checks as opposed to transferring money into their accounts tells me they are unsophisticated investors who will eventually get their asses handed to them.
Just because they’re good at what they do for a living doesn’t mean they’re good at the stock market.
Again, I'm no expert but why is that?
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There is no better indicator of when not to buy than when the unsuspecting public is buying.
The crash this most closely resembles is 1987 which was also accompanied by a health scare, aids. While there was some bounce back and rallies, the market did not break out from the former high until five years later in 1992. I suspect that’s going to be the case here.
Regarding oil, it’s currently at $20 a barrel down from a recent high of 60. Anyone familiar with percentages knows that is 66% drop takes a two hundred percent rise just to get back to even. Anything is possible but it’s highly unlikely.
Insiders go by percentages. So, purchase price doesn’t really matter. With the same amount of money to put to work, oil going from 20 to 30 is the same as it going from 100 to 150. Same deal with stocks.
But isn't it more likely that oil will go from 20 to 30 than 100-150? Oil is not going to stay at 20 forever.
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That these people are still using paper checks as opposed to transferring money into their accounts tells me they are unsophisticated investors who will eventually get their asses handed to them.
Just because they’re good at what they do for a living doesn’t mean they’re good at the stock market.
Possibly, or they could be wealthy, sophisticated, passive, technology challenged, old fart investors who had plenty of cash sitting around for an opportunity like this.
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I would invest in a mutual fund with stocks that are more dependable and will eventually go up, or back up in the next year or so. Having one or two stocks is more complicated at the moment vs a mutual fund, which are down at the moment. Even if they go down a little more, they will eventually go back up. Or stay with the banks for 1.5% interest a year. Keep a mix of all
Ron, what do you mean by mutual fund with stocks that are more dependable? More dependable? Are you talking about an S&P 500 index fund, or are you talking about searching for and finding what you believe are "more dependable" funds? Hiring a financial adviser or fund manager to do the searching for you?
"Don't look for the needle in the haystack. Just buy the haystack." - John Bogle
Buy and hold, as early, as often, and as much as possible:
VTSAX (total us stock) or VFIAX (S&P 500)
and VBTLX (total us bond)
and VTIAX (total international stock)
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Ron, what do you mean by mutual fund with stocks that are more dependable? More dependable? Are you talking about an S&P 500 index fund, or are you talking about searching for and finding what you believe are "more dependable" funds? Hiring a financial adviser or fund manager to do the searching for you?
"Don't look for the needle in the haystack. Just buy the haystack." - John Bogle
Buy and hold, as early, as often, and as much as possible:
VTSAX (total us stock) or VFIAX (S&P 500)
and VBTLX (total us bond)
and VTIAX (total international stock)
And also, what banks are offering a 1.5% interest rate nowadays? None of them are. I have a cash account with Wealthfront which generally has one of the highest rates, and it went from 1.7% to around .25% after the recent rate cuts
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And also, what banks are offering a 1.5% interest rate nowadays? None of them are. I have a cash account with Wealthfront which generally has one of the highest rates, and it went from 1.7% to around .25% after the recent rate cuts
Ally bank:
https://www.ally.com/bank/online-savings-account/
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But isn't it more likely that oil will go from 20 to 30 than 100-150? Oil is not going to stay at 20 forever.
There’s no way to know that.
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Ally bank:
https://www.ally.com/bank/online-savings-account/
Wow. I wonder why all the others aren’t even close to that. Ally was one of the others I was considering before settling with Wealthfront. I might have to move it over there. Thanks
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Again, I'm no expert but why is that?
Because the skill sets rarely transfer over. There are a lot of things in the financial markets that seem to make sense but in reality don’t.
In fact, the people like the ones you describe walking in with a lot of money are the fish in the barrel that Wall Street likes to shoot.
The media doesn’t help either. Essentially everything they say is bullshit. So if you’re someone who goes by what you hear on CNBC or Bloomberg you will invariably be lead in the wrong direction. You want to talk about fake news. Financial media is the ultimate.
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Because the skill sets rarely transfer over. There are a lot of things in the financial markets that seem to make sense but in reality don’t.
In fact, the people like the ones you describe walking in with a lot of money are the fish in the barrel that Wall Street likes to shoot.
The media doesn’t help either. Essentially everything they say is bullshit. So if you’re someone who goes by what you hear on CNBC or Bloomberg you will invariably be lead in the wrong direction. You want to talk about fake news. Financial media is the ultimate.
Thin Lizzy ain't lying.
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Wow. I wonder why all the others aren’t even close to that. Ally was one of the others I was considering before settling with Wealthfront. I might have to move it over there. Thanks
Don't mention it. In my opinion, Wealthfront, Citi, and others are crap when it comes to savings accounts and CDs, even if they offer a higher rate at times. They might be good at other things, but not savings and CDs.
Ally is the best online bank in terms of customer service, ease of use, product offerings, etc., even when their rates are lower than others at times.
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I heard Maytag is a good stock because they are very dependable.
(https://4.bp.blogspot.com/-IEnBsGT7-IM/UjN4DDInakI/AAAAAAAABxQ/cUKDemuFA2k/s400/Jesse+White+as+Maytag+repairman.jpg)
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There’s no way to know that.
How about past history. Do you really think it will stay at $20/barrel?
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How about past history. Do you really think it will stay at $20/barrel?
The past is water under the bridge. I don’t believe you can predict future prices. I have no idea what Oil will be in a year. lt was 60 at the start of the year. Did ANYBODY predict it would drop to 20 in three months?
The problem with predicting future prices is that there are too many unknown variables and you’re always going to miss something.
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The past is water under the bridge. I don’t believe you can predict future prices. I have no idea what Oil will be in a year. lt was 60 at the start of the year. Did ANYBODY predict it would drop to 20 in three months?
The problem with predicting future prices is that there are too many unknown variables and you’re always going to miss something.
Isn't that what is part of investing? Nobody invests in anything unless they think it's going to increase in value. Nothing is guaranteed but you take past behavior to predict future behavior. I'm not saying that one should predict what future oil prices will be but that it won't be at $20/barrel indefinitely and the chances that it will be higher in the future is more likely than going lower indefinitely
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Because the skill sets rarely transfer over. There are a lot of things in the financial markets that seem to make sense but in reality don’t.
In fact, the people like the ones you describe walking in with a lot of money are the fish in the barrel that Wall Street likes to shoot.
The media doesn’t help either. Essentially everything they say is bullshit. So if you’re someone who goes by what you hear on CNBC or Bloomberg you will invariably be lead in the wrong direction. You want to talk about fake news. Financial media is the ultimate.
No, I mean why is it a sign of "unsophistication" that someone uses paper checks instead of electronic transfers to fund their accounts so that they have the cash on hand to execute trades. I mean, how unsophisticated can this guy be with his finances? He was an older guy and a lot of them are just not comfortable or trust computers and the internet.
How are you doing financially? Are you able to drop million dollar checks?
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How about past history. Do you really think it will stay at $20/barrel?
Yes, oil is cheap, but who knows how long will it take to get back to say $40 a barrel, and what would you use as a trade vehicle? I’m not saying you’re wrong in your optimism of higher pricing, but you also can‘t just buy and hold oil forever, and it can take years to get back to $40 or it could take weeks. The time and trade vehicle both matter because who knows if something like the S&P will outperform oil in comparison during that timeframe. Are you buying an individual company, an oil service or exploration etf, a leveraged etf or using crude futures/options?
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No, I mean why is it a sign of "unsophistication" that someone uses paper checks instead of electronic transfers to fund their accounts so that they have the cash on hand to execute trades. I mean, how unsophisticated can this guy be with his finances? He was an older guy and a lot of them are just not comfortable or trust computers and the internet.
How are you doing financially? Are you able to drop million dollar checks?
How much I have is irrelevant. When I ask you for a fucking loan then you can worry about my finances. Lots of people who can buy and sell me many times over don’t know as much about the market. Walking into a broker with a check is like 2000 shit. You keep associating how much money a person has with how good they are at the stock market. There usually isn’t a correlation. In fact very often it’s the opposite.
This guy can buy and sell all of Getbig yet he got scammed:
Tech Legend Steve Wozniak Scammed Out of $70K in Bitcoin - CoinDesk
https://www.coindesk.com/tech-legend-steve-wozniak-scammed-70k-bitcoin
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Do you honesty think if things collapsed that you’d be going to the store with a pouch full of gold coins? The world would be chaotic where anything goes. Guns>gold
Why not have both?
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How much I have is irrelevant. When I ask you for a fucking loan then you can worry about my finances. Lots of people who can buy and sell me many times over don’t know as much about the market. Walking into a broker with a check is like 2000 shit. You keep associating how much money a person has with how good they are at the stock market. There usually isn’t a correlation. In fact very often it’s the opposite.
This guy can buy and sell all of Getbig yet he got scammed:
Tech Legend Steve Wozniak Scammed Out of $70K in Bitcoin - CoinDesk
https://www.coindesk.com/tech-legend-steve-wozniak-scammed-70k-bitcoin
No, I'm associating money with financial saavy. One can speculate and lecture all they want but in the end it's whether you win or lose. If you are giving advice and/or strategies on financial success it is relevant to ask how it has worked out for you.
Anyway, you seem to take personal offense at being questioned so I'll desist. I'm trying to avoid the constant confrontations people like to engage in.
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Why not have both?
Because one has a purpose and one is just a hunk of metal
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Historically in these situations, people always react the same. Panic buying, pulling cash from the banks and panic into bullion. You want to be early to this party, not late. Bullion is selling out and is getting hard to get, especially with refiners and mints shutting down. Silver is very cheap at the moment, as it's being supressed. Gold and silver have been money for thousands of years. Fiat currency always fails and goes to its intrinsic value of zero. Gold is great, but harder for the common man to afford. In a currency crisis, it may be hard to make change for a 1 ounce gold coin that is at that time worth several thousands of dollars. Silver is more advantageous in that scenario, but silver is much bulkier to store and carry comparitively based on worth.
Why invest in things that have no real value if shit actually does hit the fan? Buying land, properties, guns, non-perishable foodstuffs, shoes, socks, that sort of thing or is the logistics of having to store millions in shoes and guns unreasonable? Im just curious because I know people like you are smart and you already thought of what Im thinking and i'm curious to know exactly why you make some of the decisions that you make.
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No, I mean why is it a sign of "unsophistication" that someone uses paper checks instead of electronic transfers to fund their accounts so that they have the cash on hand to execute trades.
You are asking Lizzy a lot of question and not listening.
Stereotype's form for a reason. The articles online specifically finger point older investors as the ones who lose the most and buy in at the wrong time. Nobody under 40 knows WTF a cheque is. You have given a the perfect example of exactly who Google and others are calling out in their articles as a warning NOT to buy.......
The information right now is futures are getting obliterated. Buying now is a ticket to losing your money. Be patient. Wait.
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No, I'm associating money with financial savvy. One can speculate and lecture all they want but in the end it's whether you win or lose. If you are giving advice and/or strategies on financial success it is relevant to ask how it has worked out for you.
Anyway, you seem to take personal offense at being questioned so I'll desist. I'm trying to avoid the constant confrontations people like to engage in.
Then be less confrontational. (avoid reading the rest of this post unless you're bored.)
I realize your pretty intelligent, it's obvious by the manner in which you converse (as far as conversing on Getbig is concerned.) Intelligence begets the art of Persuasion my friend. That's usually what you're after, to either sway a person or people from whatever they believe now over to whatever you believe (both could be the same just seen from different perspective and of course the perspective which benefits you the most is the correct one) or to shift their focus to whatever is important to you (and likely not them) and the key to both is the ability to accomplish all this without the other person(s) realizing they are being manipulated.
My friend here worked for Lockheed as an engineer his entire career. He never had another employer in his life (well the navy but that's besides the point.) He ascended fairly high, I think he oversaw 10k people at Vandenburg a site he opened. (I don't know too much about Lockheed but I believe vandenburg is a big missile and testing site for California.)
The point- Mike (My friend) told me the higher you go in business (meaning ascending the ranks of the company) the tougher the people are to leap frog over (to him, a boss is just the next guy to eliminate or partner up with to eliminate someone else and then get eliminated) and he said the biggest most noticeable asset/strength/skill always seemed to be the ability to get others to see things your way. The manager he never got past Mike forgot his name but told me he had figured out some way to save Lockheed a lot of money on a satellite project or something and his (mikes) thinking was that the idea was a slam dunk and it created a position for his boss with the logic being your boss promoted is as good as you getting promoted (assuming your boss doesn't hate you or consider you incompetent) SO Mike went to go see this manager and he gets all his paperwork and blueprints and all that shit (imagine a scientist guy in a suit with coke bottle glasses and all kinds of stuff white and blue papers spilling out his arms in every direction lol.) and runs into him in the lobby (ground floor) so they take the elevator up together and Mike spends a couple minutes explaining to this manager, in Mikes way that he does this shit where he has an answer or solution to a situation or a problem and it definitely sounds logical and makes perfect sense-except Mike does not ever leave any room for a plan B and if the situation changes his idea probably has to be totally reworked. But over time Mike seems to have developed his own method for getting people to think and do what he wants (within reason.)
As Mike tells the story when they get to the managers office the manager wishes him luck and closes his office door and Mike gets back on the elevator and says for a few minutes he was really excited because the manager agreed with him and validated his logic and all of that. but then after some time Mike realizes that the manager actually rejected his entire idea and instead sold him on this other idea and on top of that- he made Mike think it was actually Mike's idea all along.
Mike has told this story COUNTLESS TIMES I wish I had more particulars but it seems Mike hit his theoretical ceiling or his mental limits and for him, that's very memorable. Anyway I just wrote all of that maybe because im a little bored and maybe because i can type 138 wpm and typing is actually very therapeutic for me and possibly just because i know Kwon will read every single word of it.
Point being you are getting into endless circular nonsense with people mostly because you both say "im right and this is my proof" but usually you cannot both be right. so one of you has to concede that the other person is more right and this is usualy in the form of more accurate data or obvious flaws in logic.
however, people are pretty stubborn. if you can really master persuading people to agree with whatever you do, make them value what you value and find important what you do you'll be like the king of the world man. food for thought perhaps.
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tell me how much an oz of gold is worth without using currency....
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tell me how much an oz of gold is worth without using currency....
value is determined by whoever agrees to buy it
its worth a lot to the Gods the Sumerians worshipped. it's worth exactly nothing to me. in fact it's heavy as fuck so less than nothing.
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value is determined by whoever agrees to buy it
its worth a lot to the Gods the Sumerians worshipped. it's worth exactly nothing to me. in fact it's heavy as fuck so less than nothing.
and they need currency to buy it
I always laugh when people say Gold creates value, its actually currency that gives the Gold its value
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How much I have is irrelevant. When I ask you for a fucking loan then you can worry about my finances. Lots of people who can buy and sell me many times over don’t know as much about the market. Walking into a broker with a check is like 2000 shit. You keep associating how much money a person has with how good they are at the stock market. There usually isn’t a correlation. In fact very often it’s the opposite.
This guy can buy and sell all of Getbig yet he got scammed:
Tech Legend Steve Wozniak Scammed Out of $70K in Bitcoin - CoinDesk
https://www.coindesk.com/tech-legend-steve-wozniak-scammed-70k-bitcoin
Keep it coming TL, we're listening...
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Just because old, technology challenged people use paper checks to buy into the stock market today, it doesn't follow that they are unsophisticated investors.
Likewise, just because a person has millions in the bank, it doesn't follow that this person is a sophisticated investor.
In times such as this, most people who are already invested in the stock market will be afraid and tempted to sell their stock. And most people who are not already invested in the stock market will be afraid to buy stocks. Others will try to time the market: Get out at the "right time", then get back in at the "right time", which is a huge gamble and works only rarely and only because of luck. Nobody knows the "right time."
Better thing to do is to buy and hold, as early as possible, as often as possible, and as much as possible, rain or shine:
1. A whole US stock market index fund or an S&P 500 Index fund
2. A whole US bond market index fund
3. A whole International stock market index fund
That's after paying off all consumer debt and accumulating a year worth of expenses in a savings account and CDs for true emergencies.
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Just because old, technology challenged people use paper checks to buy into the stock market today, it doesn't follow that they are unsophisticated investors.
Likewise, just because a person has millions in the bank, it doesn't follow that this person is a sophisticated investor.
In times such as this, most people who are already invested in the stock market will be afraid and tempted to sell their stock. And most people who are not already invested in the stock market will be afraid to buy stocks. Others will try to time the market: Get out at the "right time", then get back in at the "right time", which is a huge gamble and works only rarely and only because of luck. Nobody knows the "right time."
Ni@@a puhlese...
This. Recession is inevitable. If not 2020 then very soon.
I've pulled out, bought some silver and waiting for shit to hit the fan.
http://www.getbig.com/boards/index.php?topic=658882.msg9311006#msg9311006
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Because one has a purpose and one is just a hunk of metal
Sure, that's why it's been money for 5,000 years and central banks are buying it up.
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Sure, that's why it's been money for 5,000 years and central banks are buying it up.
Central banks had better be otherwise the currency they print is meaningless.
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Yes, oil is cheap, but who knows how long will it take to get back to say $40 a barrel, and what would you use as a trade vehicle? I’m not saying you’re wrong in your optimism of higher pricing, but you also can‘t just buy and hold oil forever, and it can take years to get back to $40 or it could take weeks. The time and trade vehicle both matter because who knows if something like the S&P will outperform oil in comparison during that timeframe. Are you buying an individual company, an oil service or exploration etf, a leveraged etf or using crude futures/options?
Isn't that what investing in the stock market is all about? Taking risks based on available evidence, past behavior, and the likelihood of your predictions. Does anybody really think that it will take many years for oil to be back up to $40.
If you're not in it for the long haul you shouldn't be in it.
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You are asking Lizzy a lot of question and not listening.
Stereotype's form for a reason. The articles online specifically finger point older investors as the ones who lose the most and buy in at the wrong time. Nobody under 40 knows WTF a cheque is. You have given a the perfect example of exactly who Google and others are calling out in their articles as a warning NOT to buy.......
The information right now is futures are getting obliterated. Buying now is a ticket to losing your money. Be patient. Wait.
I'm asking him just one question. Investors need to fund their account so that they can trade. Why are they less sophisticated because they use a check instead of electronic transfer? We take in about 40 to 60 checks a day, and that's just from walk ins and not counting the checks we get in the mail. And many of them are under 40 years old. I don't know where you get this that people under 40 years old don't even know what a check is. You thing they don't have a checking account?
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Then be less confrontational. (avoid reading the rest of this post unless you're bored.)
I realize your pretty intelligent, it's obvious by the manner in which you converse (as far as conversing on Getbig is concerned.) Intelligence begets the art of Persuasion my friend. That's usually what you're after, to either sway a person or people from whatever they believe now over to whatever you believe (both could be the same just seen from different perspective and of course the perspective which benefits you the most is the correct one) or to shift their focus to whatever is important to you (and likely not them) and the key to both is the ability to accomplish all this without the other person(s) realizing they are being manipulated.
My friend here worked for Lockheed as an engineer his entire career. He never had another employer in his life (well the navy but that's besides the point.) He ascended fairly high, I think he oversaw 10k people at Vandenburg a site he opened. (I don't know too much about Lockheed but I believe vandenburg is a big missile and testing site for California.)
The point- Mike (My friend) told me the higher you go in business (meaning ascending the ranks of the company) the tougher the people are to leap frog over (to him, a boss is just the next guy to eliminate or partner up with to eliminate someone else and then get eliminated) and he said the biggest most noticeable asset/strength/skill always seemed to be the ability to get others to see things your way. The manager he never got past Mike forgot his name but told me he had figured out some way to save Lockheed a lot of money on a satellite project or something and his (mikes) thinking was that the idea was a slam dunk and it created a position for his boss with the logic being your boss promoted is as good as you getting promoted (assuming your boss doesn't hate you or consider you incompetent) SO Mike went to go see this manager and he gets all his paperwork and blueprints and all that shit (imagine a scientist guy in a suit with coke bottle glasses and all kinds of stuff white and blue papers spilling out his arms in every direction lol.) and runs into him in the lobby (ground floor) so they take the elevator up together and Mike spends a couple minutes explaining to this manager, in Mikes way that he does this shit where he has an answer or solution to a situation or a problem and it definitely sounds logical and makes perfect sense-except Mike does not ever leave any room for a plan B and if the situation changes his idea probably has to be totally reworked. But over time Mike seems to have developed his own method for getting people to think and do what he wants (within reason.)
As Mike tells the story when they get to the managers office the manager wishes him luck and closes his office door and Mike gets back on the elevator and says for a few minutes he was really excited because the manager agreed with him and validated his logic and all of that. but then after some time Mike realizes that the manager actually rejected his entire idea and instead sold him on this other idea and on top of that- he made Mike think it was actually Mike's idea all along.
Mike has told this story COUNTLESS TIMES I wish I had more particulars but it seems Mike hit his theoretical ceiling or his mental limits and for him, that's very memorable. Anyway I just wrote all of that maybe because im a little bored and maybe because i can type 138 wpm and typing is actually very therapeutic for me and possibly just because i know Kwon will read every single word of it.
Point being you are getting into endless circular nonsense with people mostly because you both say "im right and this is my proof" but usually you cannot both be right. so one of you has to concede that the other person is more right and this is usualy in the form of more accurate data or obvious flaws in logic.
however, people are pretty stubborn. if you can really master persuading people to agree with whatever you do, make them value what you value and find important what you do you'll be like the king of the world man. food for thought perhaps.
Give an example of me being confrontational. I asked a simple question freely admitting that I am no expert and that Lizzy seems more informed in these matters than I am. So many people here taking offense of being questioned and asked to defend or provide evidence for their position.
And, as I have stated many times, I am not as concerned about persuading anybody or winning an argument but rather clarity. To be crystal clear what a person's position is and to get to the truth. I have been wrong many times and forced to change my views in light of new evidence that I wasn't aware of. If I lose an argument I consider myself the winner as I am now a wise person than I was before.
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value is determined by whoever agrees to buy it
its worth a lot to the Gods the Sumerians worshipped. it's worth exactly nothing to me. in fact it's heavy as fuck so less than nothing.
Exactly. The duct-taped banana art piece was worth $120,000 because someone was willing to pay it. Johnny Carson was asked what made he think he deserved five million a year for doing a one-hour talk show. He replied, "Because I can get it."
The problem arise when a third party, that has no vested interest, suffers none of the consequence if things go awry, tries to dictate the terms mutually agreed to by the borrow and seller. How much they think you should pay or receive.
The biggest offenders in this regard is obviously the government.
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Just because old, technology challenged people use paper checks to buy into the stock market today, it doesn't follow that they are unsophisticated investors.
Likewise, just because a person has millions in the bank, it doesn't follow that this person is a sophisticated investor.
In times such as this, most people who are already invested in the stock market will be afraid and tempted to sell their stock. And most people who are not already invested in the stock market will be afraid to buy stocks. Others will try to time the market: Get out at the "right time", then get back in at the "right time", which is a huge gamble and works only rarely and only because of luck. Nobody knows the "right time."
Better thing to do is to buy and hold, as early as possible, as often as possible, and as much as possible, rain or shine:
1. A whole US stock market index fund or an S&P 500 Index fund
2. A whole US bond market index fund
3. A whole International stock market index fund
That's after paying off all consumer debt and accumulating a year worth of expenses in a savings account and CDs for true emergencies.
How is your stock portfolio looking?
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Isn't that what investing in the stock market is all about? Taking risks based on available evidence, past behavior, and the likelihood of your predictions. Does anybody really think that it will take many years for oil to be back up to $40.
If you're not in it for the long haul you shouldn't be in it.
You didn’t answer my question. What trading vehicle would you use to do so? From a trader’s perspective, when somebody says to buy oil, it means to buy future contracts which have an expiration. Is that your suggested move? You talk about the long haul, yet if you’re trading physical oil, there is a cost to hold meaning that your timing is very important and that you would need a move sooner rather than later.
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You didn’t answer my question. What trading vehicle would you use to do so? From a trader’s perspective, when somebody says to buy oil, it means to buy future contracts which have an expiration. Is that your suggested move? You talk about the long haul, yet if you’re trading physical oil, there is a cost to hold meaning that your timing is very important and that you would need a move sooner rather than later.
I don't feel qualified to give any advice or strategy in investing. My only argument was that I think it is unlikely that oil will remain at $20/barrel and will eventually go up.
Before our office was closed at TD Ameritrade we got a real uptick in people coming in opening new accounts and those funding existing accounts so that they could buy while the market is low. Some think that's smart others don't but looking at their accounts they seem to know what they're doing. One person told me that he's been through this before and just rides it out.
Last day at the office before it was closed. It was a rainy dreary day.
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I don't feel qualified to give any advice or strategy in investing. My only argument was that I think it is unlikely that oil will remain at $20/barrel and will eventually go up.
Before our office was closed at TD Ameritrade we got a real uptick in people coming in opening new accounts and those funding existing accounts so that they could buy while the market is low. Some think that's smart others don't but looking at their accounts they seem to know what they're doing. One person told me that he's been through this before and just rides it out.
Last day at the office before it was closed. It was a rainy dreary day.
I agree with that as well, but my point is that the time that it takes for that to happen matters since you can’t just buy and sell oil without a drag in terms of holding it. Buying XLE would be a decent play although it’s not a 1:1 correlation to oil, but it’s close enough plus you’d be collected the dividend (although they will be cut by most companies) as you wait for the positive move up.
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How is your stock portfolio looking?
On target, and exactly as expected. This ain't my first rodeo. Thank you for asking, and good luck to you!
If you are interested in learning about investing in the stock market, read this free book written by a knowledgeable wealthy investor who isn't interested in making money selling books. Don't let the word "Millennials" in the title fool you or turn you off. Any beginner at any age will learn a great deal from it.
http://tuttle.merc.iastate.edu/Bernstein_If_You_Can.pdf
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Ni@@a puhlese...
http://www.getbig.com/boards/index.php?topic=658882.msg9311006#msg9311006
Thank you for proving my point!
You don't know "the right time", nobody does. For someone timing the market and claiming to know when it's the right time to get out, you got out way too soon and missed out on significant gains.
You got out in December or even sooner, but looking back the market continued to climb significantly after that and peaked on February 19, 2020. If you really knew the right time to get out, that's the day you would have gotten out.
Likely, you'll get back in at the wrong time too and miss out on buying stocks at bargain prices and therefore miss out on significant gains from the market recovery, unless out of luck you get back in at "the right time."
You messed up getting out. I hope you get lucky when you get back in.
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Thank you for proving my point!
You don't know "the right time", nobody does. For someone timing the market and claiming to know when it's the right time to get out, you got out way too soon and missed out on significant gains.
You got out in December, but looking back the market continued to climb significantly after that and peaked on February 19, 2020. If you really knew the right time to get out, that's the day you would have gotten out.
Likely, you'll get back in at the wrong time too and miss out buying stocks at bargain prices, unless out of luck you get back in at "the right time."
You messed up by getting out. I hope you get lucky when you get back in.
I believe this has all gone around before...the argument for/against being overweight in equities.
As I see it, the counterparty risk/threat of the game changing...AKA changes in tax law, age of retirement going up and possibility of 401k bail-ins has greatly increased with all the recent "stimulus".
(https://images.genius.com/8b931bb73edff77c53e28b2f2f3fd01b.429x295x1.jpg)
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I believe this has all gone around before...the argument for/against being overweight in equities.
As I see it, the counterparty risk/threat of the game changing...AKA changes in tax law, age of retirement going up and possibility of 401k bail-ins has greatly increased with all the recent "stimulus".
(https://images.genius.com/8b931bb73edff77c53e28b2f2f3fd01b.429x295x1.jpg)
As I keep saying, no investment strategy (stocks, gold, oil, crypto, business ownership, real estate, etc.) is perfect or without risks. Not investing at all, hiding money in a mattress or keeping it all in a savings account, etc., is risky too.
There are just varying levels of risk. High risk = high reward. Low risk = low reward. There are no guarantees, just potential. People just need to educate themselves and go with an investment plan that has a level of risk they can tolerate, stick with it, and be content with the returns (exceptional or mediocre) their chosen plan generates for them.
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On target, and exactly as expected. This ain't my first rodeo. Thank you for asking, and good luck to you!
If you are interested in learning about investing in the stock market, read this free book written by a knowledgeable wealthy investor who isn't interested in making money selling books. Don't let the word "Millennials" in the title fool you or turn you off. Any beginner at any age will learn a great deal from it.
http://tuttle.merc.iastate.edu/Bernstein_If_You_Can.pdf
I'm going to do that since I have time. Thanks for the suggestion. Just like I knew nothing about hardware and construction work and wanted to be more knowledgeable to do repairs and improvement around the house on my own I got a job at a hardware store and learned a ton and also met a bunch of very knowledgeable people that I can now go to for help. Now I want to learn more about finance and investment and got a job with TD Ameritrade hoping to learn a lot and meet knowledgeable people. I just had a 401K from when I worked at Raytheon and didn't pay any attention to it. After twenty years it made a big difference in my retirement but I know I could have done a lot better if I had the interest and put in the effort. Better late than never.
I'll tell you one thing, it's much more comfortable and enjoyable working in a nice air-conditioned office in front of a computer than sweating it out on a panel saw, moving lumber, cutting glass, driving a forklift (actually that was fun once I got the hang of it),
unloading pallets, cutting keys...
Also, it's so much easier on the body. I don't have as much pain in my back and knees that I use to have working in hardware. Just mostly at my desk drinking all the bottled water I can handle as they just have cases and case of those 20 oz bottles.
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I believe this has all gone around before...the argument for/against being overweight in equities.
As I see it, the counterparty risk/threat of the game changing...AKA changes in tax law, age of retirement going up and possibility of 401k bail-ins has greatly increased with all the recent "stimulus".
(https://images.genius.com/8b931bb73edff77c53e28b2f2f3fd01b.429x295x1.jpg)
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Thank you for proving my point!
You don't know "the right time", nobody does. For someone timing the market and claiming to know when it's the right time to get out, you got out way too soon and missed out on significant gains.
You got out in December or even sooner, but looking back the market continued to climb significantly after that and peaked on February 19, 2020. If you really knew the right time to get out, that's the day you would have gotten out.
Likely, you'll get back in at the wrong time too and miss out on buying stocks at bargain prices and therefore miss out on significant gains from the market recovery, unless out of luck you get back in at "the right time."
You messed up getting out. I hope you get lucky when you get back in.
[/quote]
(https://media.giphy.com/media/wWue0rCDOphOE/giphy.gif)
(https://d3fy651gv2fhd3.cloudfront.net/charts/united-states-stock-market.png?s=indu&v=202004020240V20191105&ismobile=1&w=400&h=250&lbl=0)
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(https://media.giphy.com/media/wWue0rCDOphOE/giphy.gif)
(https://d3fy651gv2fhd3.cloudfront.net/charts/united-states-stock-market.png?s=indu&v=202004020240V20191105&ismobile=1&w=400&h=250&lbl=0)
You did mess up, got out too soon and missed out on significant gains for two whole months. You'll likely mess up getting back in too. If you don't understand this, you have no business investing in the stock market. A few people do win the lottery from time to time though. Good luck to you!
(http://www.stock-trading-warrior.com/images/1000xNxStock-Market-History-Graph-.gif.pagespeed.ic.x7N4WULTI4.webp)
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I'm going to do that since I have time. Thanks for the suggestion. Just like I knew nothing about hardware and construction work and wanted to be more knowledgeable to do repairs and improvement around the house on my own I got a job at a hardware store and learned a ton and also met a bunch of very knowledgeable people that I can now go to for help. Now I want to learn more about finance and investment and got a job with TD Ameritrade hoping to learn a lot and meet knowledgeable people. I just had a 401K from when I worked at Raytheon and didn't pay any attention to it. After twenty years it made a big difference in my retirement but I know I could have done a lot better if I had the interest and put in the effort. Better late than never.
I'll tell you one thing, it's much more comfortable and enjoyable working in a nice air-conditioned office in front of a computer than sweating it out on a panel saw, moving lumber, cutting glass, driving a forklift (actually that was fun once I got the hang of it),
unloading pallets, cutting keys...
Also, it's so much easier on the body. I don't have as much pain in my back and knees that I use to have working in hardware. Just mostly at my desk drinking all the bottled water I can handle as they just have cases and case of those 20 oz bottles.
You are welcome! Nice office! With your attitude toward learning, I have no doubt you will soon know more about investing than most "experts", fund managers, financial advisers, and stock brokers. It's not as difficult as they want you to believe.
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You did mess up, got out too soon and missed out on significant gains for two whole months. You'll likely mess up getting back in too. If you don't understand this, you have no business investing in the stock market. A few people do win the lottery from time to time though. Good luck to you!
I didn't miss out on anything. I'm not in the US. HTH
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I didn't miss out on anything. I'm not in the US. HTH
I'm simply going by your past posts which you directed me to in response to me saying that nobody knows the right time to get out of the stock market and the right time to get back in. Based on that, you did miss out on significant gains for two whole months, even more if you got out before December 2019.
Had you really known the right time to get out, you would have gotten out around February 19, 2020. At this time, anyone can go back and verify that. It's the future of the stock market that nobody knows.
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(https://d3fy651gv2fhd3.cloudfront.net/charts/united-states-stock-market.png?s=indu&v=202004020240V20191105&ismobile=1&w=400&h=250&lbl=0)
I agree with you here. I also sold everything quite early and I am more or less in zero for the year (down about 2 percent)
One significant thing to consider, with reference to the graph you posted, is that when the market is down 35 or 40 percent, you need a higher gain, percentage wise to be back to break even, and that will be challenging in these corona times, IMO:
(https://static.seekingalpha.com/uploads/2016/11/2383651_14788186931424_rId6.png)
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I'm simply going by your past posts which you directed me to in response to me saying that nobody knows the right time to get out of the stock market and the right time to get back in. Based on that, you did miss out on significant gains for two whole months, even more if you got out before December 2019.
Had you really known the right time to get out, you would have gotten out around February 19, 2020. At this time, anyone can go back and verify that. It's the future of the stock market that nobody knows.
I was just being facetious. I got out for very different reasons, but believe it or not a pandemic was maybe 5th on my list of reasons. Still I know I got "lucky".
Right now I'm sitting tight until I can get an antibody test as the priority for me is staying on top of this real life mess as I am in a virus hotspot. I have however placed a few small puts on some Pharmaceuticals and Diagnostics companies which are already doing pretty well. Let's see if I can get "lucky" again.
Best of luck in your endeavours.
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I was just being facetious. I got out for very different reasons, but believe it or not a pandemic was maybe 5th on my list of reasons. Still I know I got "lucky".
Right now I'm sitting tight until I can get an antibody test as the priority for me is staying on top of this real life mess as I am in a virus hotspot. I have however placed a few small puts on some Pharmaceuticals and Diagnostics companies which are already doing pretty well. Let's see if I can get "lucky" again.
Best of luck in your endeavours.
Got it. If that's the case, then you did well in my opinion. Good for you!
People do get out of the stock market and then get back in for personal reasons, and get lucky doing that sometimes.
Even Jack Bogle sold a lot of his stock funds and purchased bonds years ago because he thought he was about to die and he didn't want his family to lose their inheritance if the stock market crashed around the time of his death. Not only did he end up not dying at that time, but bonds ended up performing better than stocks for a while after he did that.
He got lucky, and he admitted it, but many people thought he knew something they didn't know and that he timed the stock market and the bond market just right.
Good luck to you!