Obama found another war to fight

Doer

Doer

Well-Known Member
NLXSK1 said:
I am not talking about most people, I am talking about the professionals. They are not making 1000* their investment per year. A 20% return is considered good.

It is like gambling in that long term your profits are not that great even if you are a professional doing it for a living. Yes, you can score really well short term and people do make money at it but like you just pointed out, to make real money you have to have real money to play with. And a 10% loss on 100K is still 10K and can screw up a long term average pretty seriously.

Good for you if you can do it but most people lose their ass to the professional gamblers ;]
Click to expand...
If you make bare plays you mean. I always place some out the money options against myself.

That is what they are for, insurance.
 
Doer

Doer

Well-Known Member
Uncle Ben said:
Having money is about taking risk, being smart and above all - time. My wife & me could spend a year in Tuscany and not feel a money pinch.

I pulled 95% of our money out of stocks about 2 months ago and went to cash. Glad I did, the market is super weird now. When there's blood in the streets I'll go back in.
Click to expand...
Remember that sure money bet I talked about a few weeks ago? Shorting the SPYDRS?

When I get my divorce settled out and don't have a steel clawed harpide species on my shoulder anymore, I willl be alert for when this happens again.

But, I pulled into cash like you, instead, this time.
 
Doer

Doer

Well-Known Member
Harrekin said:
An unnecessary mortgage is not a wise usage of debt.

You could've saved a ridiculous amount, or you're just full of shit.
Click to expand...
It is all about your situation. A mortgage is OPM, not your own money. That is a way to riches.
 
N

NoDrama

Well-Known Member
Doer said:
It is all about your situation. A mortgage is OPM, not your own money. That is a way to riches.
Click to expand...
No, you have to pay back all of the other people's money, plus at least as much of your own money for the privilege of use of the OPM. If you don't pay it all off, then they will take your home away. This happens every day, its called a foreclosure. Even if your $5,000,000 home is all of a sudden valued at $100,000. You still have to pay off the $5 million.

Borrowing money you have to pay back at least twice is not the way to riches.

FWIW Cash has risk also.

Also, when you get a loan, you are not using other people's money, the loan money is created by your signature on the lien. Banks do not ever loan other people's money out, they create the money in which to lend you, it costs them very little.
 
You must log in or register to reply here.
Top