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Talking stocks, trading, and investing in general - Page 578

post #8656 of 11160
Quote:
Originally Posted by tropics View Post


ehh. just struck me as kind of an odd comment.
do you think you would get sympathy from many people out there because you might not end up as rich as you hoped to be?


No. And I wouldn't care that Joe Schmo making $8.50 an hour thinks I'm a fucking douchebag for thinking that. No surprise if he does, given his context.

 

But someone with like-minded goals? I think they could relate.

post #8657 of 11160
GReenfrog needs to watch Trading Places
post #8658 of 11160
Quote:
Originally Posted by Piobaire View Post


Not all goals are equivalent in nature. The goal of being the first person in your family to get a college education is not equivalent as being born on third base and wanting to be a millionaire at 30.


You say this as if I was given $500,000 after college and then turned that into a goal of doubling that within 8 years. No.

 

Did I grow up with a comfortable life? Sure. But I don't have a trust fund or anything. Beyond education and whatnot, the biggest impact my parents have had on my financial wellbeing was their paying for my college. I don't have massive loans to pay for, for which I'm super grateful. And on that alone, I admit I graduated with a head start. 

 

But whatever money I've made since graduating has been at my own personal sacrifice and efforts. 

 

I still live frugally. I don't blow my paychecks. I save 100% all my bonuses. I still live off of the same standard of living as I did after I first graduated, despite making more money. I invest a lot. Making a million ain't no easy thang. And who's to say I'll even make that goal? I don't think I will at current projections. 

 

You have the classic chip on your shoulder and I commend you for being successful after growing up with what sounds like adversarial conditions. But don't try to knock me down just because I didn't have the same set of conditions growing up. Have some empathy and consider other peoples' points of views, man. 

 

But you know what? I'll let you have a taste of what it feels to be on the receiving end of your inconsiderate rhetoric: Piob, I'll have considered myself a failure if I'm still having to work for a paycheck to maintain a high standard of living at your age. I want to be financially independent by my early 40s, either drawing off of passive income / successful ventures / a combination thereof.

post #8659 of 11160
Gf you can vent I don't see anything wrong with it.

I'm Not in the same spot as you financially because of not working the past 2 years to get my Mba...among other things. (Shitty first job) but I also have goals for myself over the next 3 years before turning 30.

I was also my intermediate level macro class in undergrad circa fall 08 when shit was hitting the fan and that's when I really got into it. So I fee you on that.


Looks like the Chinese market didn't break in early trading so we might make back some of today's losses tomorrow? Fingers crossed.
post #8660 of 11160
Quote:
Originally Posted by GreenFrog View Post
 


I would not read too much into the stupid shit I poast when I'm watching shit tank, live, throughout the day. I only post here a lot with that stuff because, like i said earlier, I don't have other people to just "vent" to re: wild market shit like this, man. I find it therapeutic to commiserate and post.

 

I'm not panic selling or anything.

 

Let a ninja vent!

 

And besides, does anyone really know what they're doing? Are you a better investor than I am? How would we even measure that? What constitutes "knowing what you're doing?"

 

Sharpe and draw-down and to a lessor extend alpha/beta.  Being able to articulate your investment strategy and process.

 

Basically at being able to fill out an investment manager questionnaire sans the legal and infrastructure portion.

 

Buffet started with 2015 equivalent of ~$2-3M fund from his friend and family.  You might be able to do the same! (though its going to be next to impossible w/o a Congressman father, stellar education background, and most importantly a backdrop of population explosion for a manufacturing based economy).

post #8661 of 11160
Quote:
Originally Posted by OmniscientCause View Post

Gf you can vent I don't see anything wrong with it.

I'm Not in the same spot as you financially because of not working the past 2 years to get my Mba...among other things. (Shitty first job) but I also have goals for myself over the next 3 years before turning 30.

I was also my intermediate level macro class in undergrad circa fall 08 when shit was hitting the fan and that's when I really got into it. So I fee you on that.


Looks like the Chinese market didn't break in early trading so we might make back some of today's losses tomorrow? Fingers crossed.

 

IMO jobs number print is good news tomorrow.   Good print won't be bad news as the Fed already raised rates and they likely won't hasten the pace of rate raises with a low headline inflation backdrop.  Bad print could actually mean good news as the harbinger for the next QE.

post #8662 of 11160
Quote:
Originally Posted by chogall View Post

Buffet started with 2015 equivalent of ~$2-3M fund from his friend and family.  You might be able to do the same! (though its going to be next to impossible w/o a Congressman father, stellar education background, and most importantly a backdrop of population explosion for a manufacturing based economy).

Buffett had also memorized Security Analysis by the time he was ~17 and talked about investments to friends and family  at gatherings since he was ~15, so by the time he started his partnership his friends/family believed in him (although a few still didn't since he was just a "little kid" - their loss). Also, Buffett had the equivalent of ~$800k in his first partnership.

 

I don't know GreenFrog's background. However, Buffett also had a goal of being a milliionaire at 35 (which is obviously more now), but he also started very early and always worked hard towards that goal. I wouldn't say it's his Congressman father or stellar education background that made him succeed, I'm not even sure Buffett's education background is that stellar. But I think the main thing to learn from him is that he had a quite low risk tolerance the entire time, which ultimately led to him succeeding. Just my 2 cents :)

post #8663 of 11160
Quote:
Originally Posted by chogall View Post

IMO jobs number print is good news tomorrow.   Good print won't be bad news as the Fed already raised rates and they likely won't hasten the pace of rate raises with a low headline inflation backdrop.  Bad print could actually mean good news as the harbinger for the next QE.

I honestly don't think the fed will engage in any more qe in the near future. The us market was able to successfully absorb other countries benefits when both China and eu propped themselves up over the last couple of years...benefit of a global economy ? At the same time we were able to export our inflation to China when we were engaging in it circa 2009.
post #8664 of 11160
Quote:
Originally Posted by Landscape View Post
 

I don't know GreenFrog's background. However, Buffett also had a goal of being a milliionaire at 35

It isn't an impossible goal. My boss was a multi millionaire at 30. He claims to have only ever invested in our company stock. 

post #8665 of 11160
Bah wtf market rally means rally not sell after you get 1.5% gains...that doesn't cover the other 3-5 percent most people lost this week.


It baffles me when EA is up on news that it is releasing earnings in 10 days and ATVI is down a little...how is that any news that should cause one to pop? Doesn't matter ATVI will beat earnings when they release them.
post #8666 of 11160
Quote:
Originally Posted by GreenFrog View Post

Warning: Spoiler! (Click to show)
You say this as if I was given $500,000 after college and then turned that into a goal of doubling that within 8 years. No.

Did I grow up with a comfortable life? Sure. But I don't have a trust fund or anything. Beyond education and whatnot, the biggest impact my parents have had on my financial wellbeing was their paying for my college. I don't have massive loans to pay for, for which I'm super grateful. And on that alone, I admit I graduated with a head start. 

But whatever money I've made since graduating has been at my own personal sacrifice and efforts. 

I still live frugally. I don't blow my paychecks. I save 100% all my bonuses. I still live off of the same standard of living as I did after I first graduated, despite making more money. I invest a lot. Making a million ain't no easy thang. And who's to say I'll even make that goal? I don't think I will at current projections. 

You have the classic chip on your shoulder and I commend you for being successful after growing up with what sounds like adversarial conditions. But don't try to knock me down just because I didn't have the same set of conditions growing up. Have some empathy and consider other peoples' points of views, man. 

But you know what? I'll let you have a taste of what it feels to be on the receiving end of your inconsiderate rhetoric: Piob, I'll have considered myself a failure if I'm still having to work for a paycheck to maintain a high standard of living at your age. I want to be financially independent by my early 40s, either drawing off of passive income / successful ventures / a combination thereof.

You know what? You should consider yourself a failure at that point given where you started in life. Part of what you fail to understand is that your parents gave you far more than just paying for college. What they gave you was social capital and role models. I didn't even know what the "Ivy League" was until I was in my late 20s. "Rich" was the family that didn't have plastic on their windows and had a Buick with A/C. "Lucky" was getting in the union and working on the line at Chrysler. Our parents are always our first role model and my mother used to steal part of the money I made on my paper route (wow, dating myself there) to buy her smokes with. I'm not moaning, as I've lead an entirely interesting life, and greatly enjoy the modest, and I repeat modest, success I currently enjoy.

You are to be commended for your efforts, savings and investing...but your world is not going to end if you don't hit a financial goal by 30 so don't act like it is or that it's tossing you into some existential angst. If it is giving you an existential crisis time to examine things is what I'm saying. Seems to me you have a pretty tony life and I'd concentrate on enjoying that vs. some arbitrary number in the bank by 30.

Edit: Today making a five figure buy into an S&P Index fund. Big risk taker. smile.gif
post #8667 of 11160
Quote:
Originally Posted by MSchapiro View Post
 

It isn't an impossible goal. My boss was a multi millionaire at 30. He claims to have only ever invested in our company stock. 

Didn't mean to imply it was an impossible goal, I just commented on how hard and focused Buffett worked to accomplish it since someone mentioned him. And sure, there are tons of examples of people who become millionaires at 30, but some are more definitely more "lucky" than other. Some people just manage to pick the right stock by luck/get "lucky" with the business they start up (as in it's just what the market is looking for atm). And that's probably where a lot of people invest to beat the market, so they end up being overly speculative. And then losing a lot.

post #8668 of 11160
I think part of getting older, and probably more resigned to life, is to cease measuring one's self against outliers. This could also be a fiction on my part and just a rationalization for being a mild failure.
post #8669 of 11160

You guys and millionaires in your 30s.  Our current trajectory is in our 40s but that is with 3% gains after inflation.  I am aiming low for gains and anything over that means I get to have an extra margarita in retirement.

post #8670 of 11160
I don't really care when I get my million on paper as long as I have 5-7 by the time I retire.
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