Interesting to see the approach and mindset of the average person when in contact with a successful person, along with their choice of questions.
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Free registration at the forum removes this block.2 min in and I’m already annoyed
2 of them tried to frame their questions in a way that would paint him as greedy or evil
“do you think it’s ethical to make all that money?”
“If you made this amount of money is it safe to say that people loss money?” (I paraphrased their questions)
whats with people who try to demonize others for simply having more money?
It’s hilarious how people become humanitarians whenever a “rich person” comes around. It’s all a coping mechanism to feel better about the fact that they will never live their dreams
“He has more money than me....but at least I have morals!”. Lol man gtfoh
I think it's envy.I think it's to do with the rise of socialism among the youth these days. Sad.
I don’t think it’s socialism, I think they’re just lazy shits.I think it's envy.
It’s crazy how people think that way.lol! If you made 2 million dollars that means 20 people lost $100,000. What a load of shit. It isn't a zero sum game.
lol! If you made 2 million dollars that means 20 people lost $100,000. What a load of shit. It isn't a zero sum game.
*Slow Clap* x 1000Sometimes at the gym and think to myself:
"These F*cking guys with all the muscles. Maybe if they weren't bogarting all the muscle mass I'd be jacked!"
lol! If you made 2 million dollars that means 20 people lost $100,000. What a load of shit. It isn't a zero sum game.
Your name fits so well with his comment hahaWhen you buy X stock because you believe it will go up.
Someone is selling the same X stock because they believe its going to go down.
It is a zero-sum game.
Good analogy.Sometimes at the gym and think to myself:
"These F*cking guys with all the muscles. Maybe if they weren't bogarting all the muscle mass I'd be jacked!"
I think the millionaire himself needs a set of balls... I want to be on this stupid show.
"Society is competitive" is not the right response to that question.
When you buy X stock because you believe it will go up.
Someone is selling the same X stock because they believe its going to go down.
It is a zero-sum game.
I had a better answer too. But he's young and has only just stumbled into "millionaire" status. Making a few million day trading doesn't make him an expert on money, that's for sure.
"I've made millions day trading, buy my course and I'll teach you how."
Yea... in all fairness they are talking about stocks, which is more zero sum than other thingsWhen you buy X stock because you believe it will go up.
Someone is selling the same X stock because they believe its going to go down.
It is a zero-sum game.
I wished he would've pulled out The Richest Man in Babylon where the kid in the story says something similar to "zero sum game" and the guy says "you're an idiot, if you build a palace on a piece of land, is it not worth every bit of material that was used to build it? Is it not worth more because of the labor and care that went into bringing those materials together? Is the land beneath it not more valuable because it is there? Is the land adjacent to it not nore valuable because it is there? Wealth grows in mysterious and exponential ways!"
This is perhaps the best analogy I've heard on this. I'm always looking for concise and quick ways to explain things to the economically illiterate, and I'm definitely adding this to the toolkit. I have that book on my Amazon list, but I've never read it yet.I wished he would've pulled out The Richest Man in Babylon where the kid in the story says something similar to "zero sum game" and the guy says "you're an idiot, if you build a palace on a piece of land, is it not worth every bit of material that was used to build it? Is it not worth more because of the labor and care that went into bringing those materials together? Is the land beneath it not more valuable because it is there? Is the land adjacent to it not nore valuable because it is there? Wealth grows in mysterious and exponential ways!"
Yea... in all fairness they are talking about stocks, which is more zero sum than other things
But at the same time aren't you investing in a business? So if the business you invested in makes money and creates value couldn't it actually increase the size of the entire pie? Is it truly zero sum?
Edit: I don't think it's zero sum, it just appears that way short term.
This is the DOW since 1900 (note the numbers on the y-axis are logarithmic scale. so the increase is actually 10x what it looks like)
View attachment 31864
Yea, I think it appears that way in the short term, but you have to remember that at the end of the day you're loaning a company money with the belief they can create more value than they could without that money. It's like any other form of investing.There's so much going on in a market like this, that calling it zero sum is like calling the expanding universe zero sum
I was so against this for so many years. MJ really influenced me here. And especially when I met Robert Kiyosaki and he was a complete a**hole...
But the older I get and the more incredibly successful people I meet, the more I realize they are desperate to give back. When you have all the money and you realize that's not the thing that makes you happy -- you start to understand the only things that DO make humans happy is growth and CONTRIBUTION.
So here's all these people trying to give back and we berate them because we label them as gurus...
(don't get me wrong, I'm *not* referring to the assholes who sell courses to teach you how to sells courses or people who have only ever made money selling people how to make money stuff... I'm talking about genuine people who just want to teach what they've learned)
... and here's a kid that might not be going about it the perfect way but he looks like he's trying. He's even said "if you're not committed to being the top 10% of day traders, you need to do something else"
I don't know. Seems like a good kid to me.
How is trading stock a zero-sum game? Yes if you buy and sell the price goes up or down. But you are trading a company that makes money. Companies pay dividends and create value. Would that still be considered zero-sum?
Bitcoin is zero-sum because it doesn't make any money. Whatever amount of money is brought in is the only amount that can be taken out.
Am I mistaken? Or is it just considered zero-sum because he's day trading?
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