denisdman wrote:
good dolphin wrote:
IkeSouth wrote:
Zippy-The-Pinhead wrote:
polster wrote:
IkeSouth wrote:
Should I buy gme?
Well if you want to lose money you should buy GME and Dogecoin and split the difference and wait till either or both go to $0.
If your serious and want to learn about income investing I would recommend learning the difference between a Closed End Fund (CEF), Exchange Traded Fund (ETF), and an Open End Fund. Also learn about dividend investing and compound interest.
Ah, freshman high school economics flashbacks. I remember my teacher opining if the DJIA would ever exceed $1,000?
so much this. i remember them trying to make investing seem so hard. what works is looking at the weighted average and gamble off that. zoom out and look at the curves. obviously be keen on recent events, but if you just keep buying under the average and cut it off after 10% profit, you can grow.
I have some friends who became very wealthy at the Board of Trade back in the day. I asked them if they visit farms, research weather or had some specialized knowledge of how the stuff got from a seed in the ground to my dinner plate. They just laughed at my naivete
I do not know this for a fact, but my strong suspicion is that the average trader got wiped out at some point. Most of the ones I know are purely gamblers and any winning streak would be followed by risky, stress inducing bets to make up for losses. Most of the folks eventually give up. Now the guy that made enough to get a seat and work for themselves usually did alright, the rest were just betting suckers addicted to cocaine and hookers.
It has been said by one of the posters in this thread, genius I believe, that is about the length of time you are in the market. It is so true. When my kids were born, I calculated how much I would have to save per month to get to $120,000 apiece in college savings by age 18. I think it worked out to $50/month to start and raising it by $50 per month each birthday at a 7% assumed return. And that is almost exactly what I had when they started college. Too bad IU cost $200k.
I know more than a handful of guys my age who retired in their 40s.
I also know people who were wiped out.
If you were on the inside, it was difficult to lose. Those type of people were often taken care of at the end of the day outside of the pits with a mysterious, favorable trade that hadn't been accounted for, "filling paper" (never understood what that meant), or information from one of the market movers that they could follow. They took care of their own inside the club.
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