You definitely sound like a fund manager. Don't forget to mention all the expenses, fees, commissions you'll be skimming from your clients over the years... 2-3% a year sure adds up. It's funny how most people in this world equate the amount of money they have/make with their intelligence level... they think they know it all.
You think you made money because of your personal investing prowess? -lol The Fed's bank/market liquidity injections (TRILLIONS of dollars) is what saved the financial system in 2008 and has been solely responsible for this 5 year rally. When the market drops again, will you be nimble enough to get out in time? Can you get all your clients out in time? Most could not do it in 2008 and I doubt you can do it in 2014/15.
The market is a huge bubble right now... the biggest in history. The trading volume is pathetic. Computer algos/HFT are responsible for 90% of the daily trading. The fraud is pervasive and rampant. TPTB are running out of tricks.
That said, I hope you make millions more. Caveat emptor.
You yourself sound very bitter… and you and others here come off as a “know it all” types.
I’m actually humble enough to admit I DON’T know what will happen today, tomorrow, or next year. And that I’m NOT 100% sure of this or that.
I’m humble enough to listen to those who have done what I hope to do and learn from their wisdom, experience, and research – as well as my own.
You can find online the buys and sells of funds and institutions with $150 mil + in assets – they have to report to the SEC every month. When I start seeing Buffett, Icahn, Soros, and Dalio sell all their stocks and go 100% to metals, I’ll probably take the hint. But not just because some guy on getbig told me to – no offense.
John Paulson is one top investor who is far more top-down rather than bottom up, and the volatility in his portfolios is too much for just about anyone.
I’ve never skimmed anything – everything is disclosed in black and white. Do you expect to get paid for what you do for people? Why shouldn’t I?
Proper investing is less about intelligence than about hard work and emotional stability – keeping fear, greed, and ego in check.
I lost 25% of my money from Q4 ’07 through Q1 ’09. It could have been worse. It’s part of the game.
How am I supposed to use gold to provide income for my clients, most of whom are retired and need a steady monthly income? Especially when gold is in one of its downtrends? I want to retire at 60, be loaded, and be even more loaded at 70 and even more at 80. I do what I do now to get there - not to try to prove to anyone how smart I think I am.
I know lots of old, rich, longterm investors. I don't know any old, rich day traders or end-of-the-world types. The only longterm investors who went broke either invested everything in a Ponzi scheme or in one company that went bust - usually the company they worked for.
Are you familiar with Bunker Hunt?
Regarding the fed tapering and what will happen, do you really think it will have the same impact on a company like Continental Resources (that has been pulling 70 thousand barrels of oil and 30 thousand barrels of gas A DAY out of the Bakken) as it will on shitty government controlled companies like GM and Cit? I’m more worried about environmentalists or government takeover attempts there, but not so much that I won’t keep money invested in CLR. Do you really think such a company is worthless “paper”?
If you really think it’s all gonna be worthless, I’d stock up on guns, ammo, nonperishable food, and build up a prison fence around the property.
