How do you guys choose your penny stocks ?

[CryptO]

I left it open because you guys enjoy the conversation, and for the most part, it remains civilized and, like it or not, the technology is disruptive (which is Fastlane itself.) I will keep it open and you are free to continue as you please.

Thanks for clearing the air on that MJ.

If it all goes wrong and the tech gets driven out or dies, at least we can all have a good laugh about it and say "WTF were we thinking?" lol.

 

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[bringitnow28329]

I left it open because you guys enjoy the conversation, and for the most part, it remains civilized and, like it or not, the technology is disruptive (which is Fastlane itself.) I will keep it open and you are free to continue as you please.



Aren't you just validating what I just said though in somewhat of a semi-circualr way? The guys here "living the dream" have nothing to do with this shit. I don't wake up thinking about what penny stocks to buy. Vigilante doesn't wake up thinking about penny stocks. Biophase doesn't wake up looking at the latest stock selling for .21 cents. zen******* might have something to do with a penny stock because he probably underwrote the offering -- he's selling, not buying. That's why there are better forums for this -- we are too busy building our own empires instead of throwing the dice at someone else's.

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Well on those forums you don't get any useful advice. At the very least on here we can warn people about the pitfalls of being involved in penny stocks for the wrong reasons because the reality is there are many people that are searching for a get rich quick scheme even though real trading is so far from this. I personally do wake up thinking about which stocks will make me money because I earn a significant portion of my income from the stock market, but every person who doesn't live and breath the stock market has no business being involved in timing the market unless they are willing to hand their money over to somebody like me.

 

[socaldude]

I network with a lot of successful entrepreneurs, a lot of these guys are triple digit millionaires for crying out loud. And not one did it by trading stocks or by affiliate marketing.

But one theme that comes up over and over again is: PRIVATE markets. After cashing out of their primary businesses a lot of these guys pursue private equity. Why? I'll let you figure it out.

Seriously look at all the benefits that a Fastlane product or service gives the entrepreneur; control , leverage, power. It literally makes me laugh out loud that you guys want to even consider trading penny stocks.

I'm not saying this to be a jerk but i'm saying this because you will be missing out on what MJ was trying to say in TMF .

Guys, you can start a fastlane product or service business for little to no money and cash out at $5million dollars in 5 years. It's more about hard work and critical thinking.

 

[AllenCrawley]

Guys, you can start a fastlane product or service business for little to no money and cash out at $5million dollars in 5 years. It's more about hard work and brains.

Are you kidding me? 5 years is way too long and way too much work! I want to be rich in 6 months without doing much work... or even much thinking.

All kidding aside, I can't even take seriously those that pursue penny stock investing, cryptocurrency and the like as their main source of "revenue" (flame on). I see no value add, no problems being solved, etc.

There are a lot better ways of building up initial capital without all that risk (hustling and poker would be my first options ). However, I think the intent of the OP here is not to build up capital for a project but to find a way to get rich quick. If you have the time (likely years not 5 months), dedication, determination and lots of disposable income to learn it more power to ya.

 

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[AllenCrawley]

I will come back in 5 months with half a million mark my words.

So, you'll be starting with $1 million?

Sorry, couldn't help myself.

 

[100k]

The same way the american government chooses which banks to bail out;

 

[parkerscott]

Are you kidding me? 5 years is way too long and way too much work! I want to be rich in 6 months without doing much work... or even much thinking.

All kidding aside, I can't even take seriously those that pursue penny stock investing, cryptocurrency and the like as their main source of "revenue" (flame on). I see no value add, no problems being solved, etc.

There are a lot better ways of building up initial capital without all that risk (hustling and poker would be my first options ). However, I think the intent of the OP here is not to build up capital for a project but to find a way to get rich quick. If you have the time (likely years not 5 months), dedication, determination and lots of disposable income to learn it more power to ya.

I dont mess around with crypto but bitcoin was actually solving somewhat of a "problem" I cant remember all the stuff behind it but some of my associates would use bitcoins to buy steroids online through a website that couldnt be accessed through a browser. The government has since shut down the site though. Me on the other hand I rather use my money on my own start ups.

 

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[AllenCrawley]

I understand the premise that crypto solves the "problem" of having our monetary system so influenced by the government but the act of trading for the sake of "getting rich" provides no value as I see it.

Who makes the most money right now in this new tech industry? The people who got in early? The people at the top or the bottom? The people creating news? The people taking advantage of the money chasers rushing in to day-trade crypto/bitcoin/whatever? The people creating the tools, software, courses, books, picks and shovels?

 

[parkerscott]

I understand the premise that crypto solves the "problem" of having our monetary system so influenced by the government but the act of trading for the sake of "getting rich" provides no value as I see it.

Who makes the most money right now in this new tech industry? The people who got in early? The people at the top or the bottom? The people creating news? The people taking advantage of the money chasers rushing in to day-trade crypto/bitcoin/whatever? The people creating the tools, software, courses, books, picks and shovels?

I honestly have no idea lol. That is one of the reasons I dont mess around with bitcoins, its because i have no idea. It would have been nice to have bought in at 10 cents a coin and then sold them all at 600$ a piece though. That time has long passed though.

 

[DeletedUser9]

Theres got to be a bit of truth to this

Another scene in the movie he says a majority of the wealthiest 1% of americans are made either through hard work, inheritance or what he does stock and real estate speculation.

 

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[jpmartin]

I will come back in 5 months

How has it been so far?

 

[ArthurDayne]

If I ever get into it I am not holding for a week. Probably just a day to get guaranteed gains and get out.

This is the funniest thing I've read on TMF forums so far - oh, just to get guaranteed gains? Got it. Gosh, what a clever strategy.

@MJ: The entire investing forum has confused me a lot. People are trying to get rich quick with no effort trading options and forex, whereas I believe you set up this section to talk about investing your wealth once it's been generated into vehicles that give you income - as opposed to trying to build wealth through paper assets, which isn't what the book is about. Since your approach to paper assets is as a vehicle for income, I'm surprised this entire section is about short term trading and making a quick buck.