[kerouac]

(01-20-2010 10:05 PM)kingkong Wrote:  

You are going to lose money if you don't do a lot of homework, and that homework is a terrible investment of your time when you could be focusing on a business achieving much higher returns.

I read this and I obviously sense pessimism. The thing is, as L'Etranger later brought up is that trading stocks allows one to work remotely from wherever you have a decent internet connection and your laptop, which is very attractive for me.

Starting a business takes a lot of investment of time and money, just like stocks, and is also pretty high risk depending on the field you are planning on entering.

I was wondering what kind of businesses you had in mind that would allow one to have some relative freedom, and if not too much freedom at first, would have high returns for the amount of time invested?

Of course being the middle man in the markets in one shape or another is pretty risk-free, but then again, getting into a firm can be very difficult at this time, and the amount of time people spend at work while working finance is quite a lot.

[Quasi]

I find this fascinating.. will have to read those books, always liked abstract thinking, strategy and all kinds of games this seems like meta-game for me... if my business plan this years starts making cash I think this could be very interesting to try. Good post especially L é tranger

[Pepini]

(03-01-2010 06:51 PM)thegmanifesto Wrote:  

Rules That Warren Buffett Lives By

http://finance.yahoo.com/banking-budgeti...t-lives-by

I once saw a documentary of Warren Buffet. Most people don´t know but Buffet lived in a menage a trois most of his life and both women were ok with it. The second thing that I found interesting was that Buffet would trick his own children. When his children had the age for having pocket money, Buffet installed a slot machine in his house. So basically he would give money to his children, they would spend all in the slot machine. After he would get the money back. Brillant.
The third thing was Buffet mentioned a book he read named "how to win friends and influence people".
http://www.amazon.co.uk/How-Win-Friends-...0091906814
I haven´t read it yet.

After getting my real estate business on wheels I will enter on the stock market business with the only purpose of being able to work anywhere I want in the world.

[Quasi]

"how to win friends and influence people"

if anyone want pm me.

[loosewin]

The Buffet documentary is on youtube. This is the clip where he talks about "how to win friends and influence people"

http://www.youtube.com/watch?v=fVHLC0exD_g

[HD668B]

(03-28-2010 03:03 PM)loosewin Wrote:  

The Buffet documentary is on youtube. This is the clip where he talks about "how to win friends and influence people"

http://www.youtube.com/watch?v=fVHLC0exD_g

I'm beginning to think theres no such thing as a "natural". I mean that video shows that Buffet was socially akward and had to buy a book about making friends. A successful man might be just constantly improving himself and always embrace new experiences (good or bad).

[exe]

Speaking of stocks & trading, was anyone here exposed to the market when it fell of a cliff last week? I thought my portfolio was fairly diversified but it took at least a 20% hit. Thankfully, it´s come up around 10% the past couple of days.

[Giovonny]

(03-27-2010 07:26 PM)Pepini Wrote:  

I once saw a documentary of Warren Buffet. Most people don´t know but Buffet lived in a menage a trois most of his life and both women were ok with it.

WOW, thats amazing. Warren Buffet. The 2nd richest man on Earth. A mid-western Conservative. LIVING WITH 2 DIFFERENT WOMEN AT THE SAME TIME.

I love it.

What do you religous/moral fanatics think about this one???

[La Familia]

For me this is a completely different world--I've heavily invested my college career in the sciences (Biology major, with plenty of chemistry and physics under the belt) with the goal of becoming a doctor. While I still like the idea of being a doctor, the idea of debt and years of school isn't appealing at the moment since I want to travel and live the international lifestyle while I'm young and invincible.

So I bought the Zurich Axioms and Gary Vaynerchuk's new book. I'll be reading the Zurich Axioms closely, hopefully gaining an idea and learning the philosophy. Any suggestions as to where to go/what other books to get afterwards?

[HD668B]

Quote:

Speaking of stocks & trading, was anyone here exposed to the market when it fell of a cliff last week? I thought my portfolio was fairly diversified but it took at least a 20% hit. Thankfully, it´s come up around 10% the past couple of days.

Yeah that was funny. Because it just confirms that the so-called recovery is bullshit. I saw this kind of market movement only on highrisk canadian mining stocks and biotechs before a FDA release. And now this on the Nasdaq, ahah. There are many things that come into play. Since the governement bailed the economic system, the liquidity is actually debt money.
Thats why I'm almost only trading Forex now, shorting the Euro. And the Pound is in the same boat despite the recent elections.

(05-18-2010 05:33 PM)La Familia Wrote:  

Any suggestions as to where to go/what other books to get afterwards?

In this contemporary world (read: non-sound money economy), you seriously need a backup next to your "carreer path". Zurich axioms is about that backup, that little risk in your life that in the end could make all the difference.

[Amish]

(05-12-2010 03:25 PM)Giovonny Wrote:  

(03-27-2010 07:26 PM)Pepini Wrote:  

I once saw a documentary of Warren Buffet. Most people don´t know but Buffet lived in a menage a trois most of his life and both women were ok with it.

WOW, thats amazing. Warren Buffet. The 2nd richest man on Earth. A mid-western Conservative. LIVING WITH 2 DIFFERENT WOMEN AT THE SAME TIME.

I love it.

What do you religous/moral fanatics think about this one???

I've read his biography (The Snowball) and, while I didn't spend much time on those chapters, I came away with a much different opinion. What I understood was that his wife was getting dick on the side (tennis coach or something like that), left him w/o the divorce and moved to SF with her new man. Buffett kept giving her a bunch of money for the rest of her life, and then she in turn gave a lot of it to this guy in her will when she died. I wouldn't classify that as even approaching Pimp level.

Not trying to hate on Buffett, but I'm only going to seek his advice for investing (it has served me very well). I'm not going to ask my mechanic how to prevent heart disease.

[Lief]

I have been investing in the stock market for ten years.
I would not recommend that people try to supplement their income with trading.

I have seen very few people do this successfully. And the ones who are successful might just be lucky (Black Swan theory + Fooled By Randomness).

I would go so far as to say that making money from the stock market is the most difficult way to make money on a consistent basis.

Nonetheless it's exhilarating.

The best books about investing:

a) Tomorrow's Gold - Marc Faber
b) Benjamin Graham
c) Market Wizards

I would also recommend that you track top investors and read all of their points of view.

You can use:
a) http://www.gurufocus.com
b) http://www.fundmanagernews.com
c) http://www.marketfolly.com

[hydrogonian]

I agree. From what I know of auction theory, pricing, and the nature of almost any market, especially heavily traded markets, it takes insider information to gain an edge. No edge, and your playing a losing game. Only losers play losing games. On that principle, I don't gamble at casinos either.

Remember, current price has all known market information already built into it. Thats why its extremely difficult for anyone to beat the market beyond random chance. In the stock market, assuming all information that you could possibly know as a trader (non-insider info) is already taken into account by the market, then there is no profit margin in any asset beyond random chance.

Of course, the world of derivatives creates a new game. You can quantify an edge in that market if you really know what your doing. But it takes a lot of time to trade like that (like you cant leave the screen very much), a lot of time to learn, a lot of money to participate, and your going up against the best and the brightest in the world. All of that is also assuming that you didn't get mislead or fall short anywhere in your training and understanding of the market.

I like the book "Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street" by Poundstone. Its should give you an idea of the type of impossibility that your up against when trying to be a successful trader, what you need to do to be successful (a quantified edge), and why its so difficult (you cant quantify an edge). If the best at MIT couldn't do it, what makes you think that you can?

[kindredspirit]

Tough biz. I'm currently down over 50% one a uranium investment. And around 35-40% on gold + silver/zinc investments.

Luckily, I don't need the money now and I *hope* they'll at least break even within the next 6 months.

On the other hand, I now realize that the best place to invest is in my own ideas. Assuming I can get this investment back to positive, I'll use the money to start another side-business.

[HD668B]

Still down on gold kindred?

Just made a new high, at almost 1300$

[rumguzzler]

Investing in commodites = really fucking stupid.

You will lose money. don't do it.

[rumguzzler]

Also, trying to make short term gains - another why to fuck up.

If you don't know what you're doing, invest in indexed funds with someone you trust.

If you can take the time to, find companies that sound right to you, that have long-term potential, and that are undervalued and go for long term.

short-term flucations are hard to beat, but long term trends are much dependent on the basic suppy and demand dynamics. For instance, on our local stock exchange, a bank on the verge of bankruptcy made a massive new emission - everyone heard it was going to survive, so the stock price exploded, rising over 100% in a day. Obviously, that was retarded - the company was suddenly worth USD 1,2 billion when the bank it most closely resembled was worth 800 million, and that bank was the most solid bank around. The price plummeted the next day.

Last year, when the crisis was at its worst, the nation's largest bank's stock had gone trhough the floor - the company was OBVIOUSLY worth much more than that. It was a no-brainer. My buddy bought a load of shares at USD 9 a piece, and the stock price dropped by a further 33%.

A month later, the price had gone from that floor, and tripled - he sold at USD 18 a piece. The price continued to rise after that and is now at USD 27, an accurate level.

fuck that stampede mentality. Follow the long-term trend. It is possible with the info available.

[HD668B]

Gold 1300$. from a low of 1060 in January... do the math.. its a little better than the +1.5% interest of your bank.

About the ETFs, in Canada we have the worst commission rate in the world, and if you add the fact that most managers cannot even beat the markets, its not really a great choice.

Long-term trend of America? Socialist government with a 70% consumer based economy, you really do believe in that? Go live in HongKong if you wanna play the trend...

[kindredspirit]

Up now overall but still picked the wrong ponies. Would have been better off just sinking everything into the metal rather than juniors. Live and learn. Luckily don't need the cash reserves right now so I can afford to be patient.

[HD668B]

Investing in juniors is indeed considered as a "leveraged" move since there is a bigger part of speculation vs the spot price considering the share value hovering around the dollar. Were you in some small canadians , risky ventures perhaps? Still you can see that a big mover like IAMGold is currently underperforming at 18$.

[kindredspirit]

(09-26-2010 02:58 PM)LÉtranger Wrote:  

Investing in juniors is indeed considered as a "leveraged" move since there is a bigger part of speculation vs the spot price considering the share value hovering around the dollar. Were you in some small canadians , risky ventures perhaps? Still you can see that a big mover like IAMGold is currently underperforming at 18$.

My investment was sinking a big chunk of change into Dynasty Metals (DMM.TO) at around $3.65-$3.80. It's slightly above purchase price now and probably headed up based on volumes and activity lately. I've been a holder for almost 2 years so it's been a frustrating holding period. Basically dead money even while other miners and gold have shot up.

[HD668B]

The latest Fed 600 billion easing explained Roosh's style

http://www.youtube.com/watch?v=PTUY16CkS-k

[kerouac]

Krugman on why deflation is bad:
http://krugman.blogs.nytimes.com/2010/08...ation-bad/

Krugman on the attack on current Fed Policy:
http://www.nytimes.com/2010/11/19/opinio....html?_r=1

This fed/monetary policy talk is kind of getting aside from the fact that there is some good money to be made on the stock market right now! In fact... if any of you had invested in the Colombia ETF (GXG) [since there is so much interest in Colombia and South America on this forum] you would have made some nice returns by now

[HD668B]

Just checked GXG , nice gains, at 45degrees this is considered the strongest uptrend (from a technical pov).

[bobdole]

1) trader vic- http://www.amazon.com/Trader-Vic-Methods...832&sr=1-1
2)PF charting- http://www.amazon.com/Definitive-Guide-P...915&sr=1-2
don't forget about Fx..
3) http://www.amazon.com/Beat-Forex-Dealer-...989&sr=1-1