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Don't be like this guy...

JScott

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MJ DeMarco

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Great find, rep++ .... I find it funny that he writes "How the Stock Market Ruined My Life" .... shouldn't it read "How I Ruined My Life??"
 

Russ H

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Reminds me of the Pesci/DeNiro scene in the desert from Casino . . .

How many times does this guy say "f*ck!" in 5 minutes? 40? 60? :icon_toilet:

The most important lesson I ever learned about the markets is I cannot trade reliably. That is, I cannot consistently make money, no matter how much I work at it/research it.

With RE, I can. And I can have a direct effect on the value of my investments-- something I'll never be able to do w/paper assets (unless I get up to Buffett levels, buying entire companies).

Knowing my strengths-- and in this case, weaknesses, has (so far) been key to moving forward.

-Russ H.
 

maverickmonk

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i wonder why did he waste so much of money? instead it he'd started a small business of it..it would be more worth even if gets loss.. he will earn exp in it..
 

piranha526

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Aug 20, 2007
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Great find, rep++ .... I find it funny that he writes "How the Stock Market Ruined My Life" .... shouldn't it read "How I Ruined My Life??"
Perfect answer MJ. Has the kid ever heard of position sizing. Max 2% portfolio risk? At worst, a bad drawdown knocks out 5% of the account. He did it himself.

I was very comfortabel going into this morning with both long and short positions. My longs got hit hard but I never, EVER worried about going broke or losing more than a few percentage of my account. Now, at 11:20am, it doesn't look too bad. I am calm and making decisions.

It would be a boring video!
 

tbsells

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Jul 27, 2007
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With RE, I can. And I can have a direct effect on the value of my investments-- something I'll never be able to do w/paper assets (unless I get up to Buffett levels, buying entire companies).

Knowing my strengths-- and in this case, weaknesses, has (so far) been key to moving forward.

-Russ H.
:iagree: I agree wholeheartedly with the the above statement especially the last sentence "Knowing my strengths--and in this case, weaknesses, has (so far) been key to moving forward." I know there are people who can and do make money picking individual stocks, I'm just not one of them. I don't have the required knowledge. At least I am smart enough to know that. Knowing your strengths and weaknesses is key to success in life and business. If not, you are just (to paraphrase MJ) a sheep being led to slaughter.

The stock market is not much different than any other market- a sophisticated investor can get rich and a fool will become broke.
 

hakrjak

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The most important lesson I ever learned about the markets is I cannot trade reliably. That is, I cannot consistently make money, no matter how much I work at it/research it.

With RE, I can. And I can have a direct effect on the value of my investments-- something I'll never be able to do w/paper assets (unless I get up to Buffett levels, buying entire companies).

Knowing my strengths-- and in this case, weaknesses, has (so far) been key to moving forward.

-Russ H.
Dittos brother. I lost it all in the dot-com-bust, and even went into debt over it. I'll never risk more than I can afford to lose in stocks again.

- Hakrjak
 

kimberland

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Jul 25, 2007
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Dittos brother. I lost it all in the dot-com-bust, and even went into debt over it. I'll never risk more than I can afford to lose in stocks again.

- Hakrjak
I'm starting to see where you're coming from, stock investing-wise.
Personally I like to invest in companies with some hard assets.
They're easier to evaluate
and can only fall so far.
If I buy them at that low point,
it eliminates a lot of the risk.
 

hakrjak

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Sep 15, 2007
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I'm starting to see where you're coming from, stock investing-wise.
Personally I like to invest in companies with some hard assets.
They're easier to evaluate
and can only fall so far.
If I buy them at that low point,
it eliminates a lot of the risk.
I know of an old book from the 70's that advises just that trading style (I'll have to dig it out). It's very Gordon Gecco :) It's also a lot different than buying Google at $600 at a P/E ratio of 50 just because Cramer keeps pumping it! If stocks were actually worth anywhere near to what they're priced at, I'd be a lot more interested. Buying and holding stocks at book value that kick out good dividends is the opposite of "Trading", imho...

- Hakrjak:coffee:
 

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Yankees338

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Jul 24, 2007
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Reminds me of the Pesci/DeNiro scene in the desert from Casino . . .

How many times does this guy say "f*ck!" in 5 minutes? 40? 60? :icon_toilet:

The most important lesson I ever learned about the markets is I cannot trade reliably. That is, I cannot consistently make money, no matter how much I work at it/research it.

With RE, I can. And I can have a direct effect on the value of my investments-- something I'll never be able to do w/paper assets (unless I get up to Buffett levels, buying entire companies).

Knowing my strengths-- and in this case, weaknesses, has (so far) been key to moving forward.

-Russ H.
I completely agree with you on that. I guess part of my interest in business and RE is that I get to be a bit more creative. Correct me if I'm wrong, but unless you come up with an entire trading system or something truly revolutionary, how can you be creative with stocks? I guess you could write a book or blog about it, but that's more like a business. It just seems a bit too analytical for me. Again, guess you just gotta know your strengths and weaknesses.

I'd prefer to be able to control my assets and investments, at least if they are in charge of most of my financial success.

Oh Russ...another great post. Rep+++ for you, my friend!
 

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