Title: Gatlins Stock tips and money advice Source:
[None] URL Source:[None] Published:Feb 5, 2018 Author:Hopefully Gatlin Post Date:2018-02-05 18:32:47 by A K A Stone Keywords:None Views:33337 Comments:167
You wanna get rich? You just might if you follow this advice.
First - don't invest in anything you do not understand. You probably do not really understand Bitcoin. Scarcely anybody does. Don't invest in that sort of thing.
Second - remember taxes, and remember that the "net gains" tables that are sometimes provided showing you gains net of taxes hardly ever include state taxes, or city taxes, both of which are over and above the federal taxes. Do the calculation yourself of what $100 gain will leave YOU with, after federal, state and local income taxes OR short term or long term capital gains federal, state and local taxes OR federal, state and local taxes on gains on commodities (25% federal tax on gains in gold held, for example) OR taxes on dividends, OR Taxes on interest. However you're going to make money in the investment, you're going to be taxed. To properly compare one investment to another, the number that really matters is what you have left in your hand after taxes.
Third - Remember transaction costs. It costs money to sell a security, and more money to buy another one. Every time you change positions, you pay an exit fee and you pay an entrance fee.
Fourth - Remember "loads" on mutual funds, and management fees. Understand how the financial manager will pay himself every month out of your money in any managed product.
Fifth - Remember tax-advantage investments like IRAs and 401(k)s, but also remember the disadvantages of such structures: you money is trapped, and your options are limited.
Example: You're probably better off buying a 4.4% municipal bond and holding it to maturity than you are buy a 7% corporate bond and holding it to maturity.
First - don't invest in anything you do not understand. You probably do not really understand Bitcoin. Scarcely anybody does. Don't invest in that sort of thing.
What a silly comment. After reading this one sentence of your entire rant, I decided to comment as you are making HUGE assumptions while simultaneously making reality out of wild hubris.
Anyone that takes you for an investment advisor needs a beating.
After reading this one sentence of your entire rant, I decided to comment as you are making HUGE assumptions while simultaneously making reality out of wild hubris.
Anyone that takes you for an investment advisor needs a beating.
I was quoting somebody without attribution. I'll give the attribution this time:
“Never invest in a business you can’t understand.” - Warren Buffett
Pretty sure that bit of common sense from Warren Buffett is not wild hubris.
Likewise, pretty sure that anybody who read the moderate language and thoughtful suggestions I put into my series of writings here would not call what I provided a "rant".
Tell me, please....was that an intentional setup. It looked like it had to be because it was so beautifully effective.
My compliments ...
It wasn't intentional. I agree a lot with Buffett, and I've internalized some of his thoughts over the years. I am a conservative and cautious person, in part because when I was young, dumb and full of hubris I invested in things I did not understand and I got lucky, and I also got burnt. I never stop learning.
My problem here is that you're trying to impart actual advice - and idiots who apparently know nothing come in and ridicule you out of animus. What a waste.
I have less sophisticated advice, but solid advice nevertheless, and assclowns who carry their personal animus against me from thread to thread show up to piss all over it.
In that particular case, the monkey who flung poop at me was actually calling the Oracle of Omaha a fool regarding investment. So he made a fool of himself, and I was more than happy to point it out.
Wouldn't it be swell if we could just discuss investment and philosophy of money on a thread, without disruption by nasty people?
I'm determined to do that, because the subject interests me. Seems like you make a good living doing just this. You yourself know that only Hillary Clinton could really get rich on a mere $1000 - that to go huge with THAT little money takes one of two things: (a) a lottery win (hence my $4 a week on a PowerBall and a MegaMillions ticket, the price of a dream), or (b) Clinton-style corruption.
To that I might add (c) Time. With enough time, the skillful investment of $1000 with reinvestment of the gains from the investment could indeed build up to a large pile of wealth.
And all of that is worthy of a discussion of the philosophy of money.
"You're an idiot for thinking like Warren Buffett" is not helpful. "You're a joke for having an interest-bearing mortgage" is similarly useless.
It is difficult for me to be insulted and not respond. But I'm really going to try on this thread, because the subject matter here is vital, and some really good advice can be shared here, I think.
If it get buried in bullshit that will be unfortunate.
Keep posting your expertise. I'll keep posting my own practical advice. I would advise any young person who is really interested in finance to learn ALL of it, the conservative, "wisdom of the ages", don't forget that your own health and your home are ALSO investments, sort of pragmatism that I provide, and also the trading insight you have.
A person who really mastered this subject would never have to have a boss.
