This market is so goddamn stupid. “Bad news! Let’s start bidding up stocks guys, guess they’re not raising rates!” 
Like sheep to the slaughter.
I’m not really losing any money, I’m just amazed how ridiculous this is. QE in Japan and a “good” jobs report and suddenly algo’s go nuts.
it was bound to happen after that V reversal from the brexit sell off, that kind of reversal on such a short time frame is always a telling sign, dont let the obs report fool you, that was just a catalyst for the direction the market was already heading.
if there is one thing ive learned in this market from trading, turn off cnbc, turn off cnn, and just pay attention to the trend and price action. i mean i agree with you the market is going nuts this past week, people keep trying to short it and keep getting blown up, thats why we keep having these gap up days one after another, but im not going to question the logic of it, ill just play the trend and make money.
Since I have been paying attention to the market I usually will hedge my bet and go against what the common knowledge says is going to happen. The market typically will completely defy analysts for a short time before it decides to listen to reason. It’s just like in 2008, the market kept going higher and higher in complete defiance of bad news. Hell some of the big names in the mortgage crisis had their stock prices go up after it was announced that they were broke. People kept dumping money into sinking ships, lol. But IMO the hardest part is even if you 100% call something perfectly, timing it in a way that you actually make a good profit is the hardest part. I have bailed early on stuff if I would have held just a few days more I could have really gotten PAID, but in the same vein I could have lost big a few times and I bailed out early and saved myself some real pain. I’m a big proponent of make money, but don’t get greedy because that’s how you get burned. I think some of my best investment choices in the past year were just sitting back and doing nothing.
Hey I was told by a older guy at work about how one could use a credit card. Make payements on it to build up their credit limit on it. And do so to get a 0% intrest rating on it. Then use your credit card to make a significant payment towards your student loan. I.E you have a 5,000 dollar limit so use the card to make a 5,000 dollar payment. Then you pay back your credit card company at their intrest rate which is 0%. Thus avoiding paying intrest on your student loans. Could that actually work? It sounds like it.
Credit cards let you balance transfer from other cards, but I am not aware of any card companies that will let you balance transfer student loan debt. You want to be really careful with situations like that because many of those offers are for 0% interest for 6 months or a year and then they jump to 18.99% or higher. I generally think balance transfers are fine if you are paying off debt, but just be aware of the terms of the transfer so you don’t get burned. They make money by you not reading the fine print. I used my credit card that offered cash back that I used for work travel, and I got 1000+ bucks a year in free cash back rewards because my employer was footing the bill for everything. It was awesome.
Edit: Found a good link
Yeah the older dude explained to me that I need to make sure it’s 0% intrest or very little intrest. Then only transfer an amount I know I can pay back within the 0% intrest time frame like you mentioned. So if I get 0% intrest for a year, then hell yeah I’m gonna transfer like 7k then just pay it off within a year. I heard capital one is the best one to get
So after maxing out our Roth IRA, 401K, 15k checking account, 9 month emergency savings, paying kids monthly college savings, vacation savings & our monthly allowance we still got about $2k left every month. Houses paid for, no credit card debt what else should i be doing with this extra cash?
Right now its just piling up on the savings account not earning jack shit or buying stuff we dont need. I still havn’t done stock but its just way too foregin for me & i rather have someone i know show me the ropes but most people i know are broke as fuck or too shady to let them know my financial situation.
Any of you buy gold or silver? How stable are these? What about opening up a side business. Any ideas i can do that’s about 2k of monthly expenses.
Invest in starting or owning an existing business maybe? Or fund some personal projects you always wanted to do?
Gold is good. To be diversified, about 10% of investments should be gold-silver and/or gold-silver mining shares (I own Newmont and it’s more than doubled since I bought it). It’s only 10% because precious metals act as a hedge against inflation, which could happen if a few things occur. Also 401ks, pension plans, and the like NEVER have gold/gold miners.
If you get some precious metals/gold mining stocks, then you are hedged against everything (gold-inflation, cash-deflation [you’re covered for this one, haha], stock-disinflation [inflation is decreasing over time]).
Starting a business seems like a great idea as well, assuming you have some passion/idea to work with. Do this right after you feel you’ve diversified enough.
Stocks aren’t really necessary for you if you’re maxing your 401k every year (you’re bankin’ man!), as your exposure to stocks/bonds is already quite high.
I always hear about investing in gold and other precious metals. What’s the big deal about it? How is it a secure financial investment?
Play some baccarat
twigster just explained it in the post right above you.
do you buy a house or a car without insurance? well gold is the same thing, think of it as an insurance policy on your portfolio.
I mean like what’s the practical purpose? Like if say a countries currency were to become shit. The gold’s and silver’s worth would be unaffected and you could move elsewhere and trade it for that nation’s currency and get a good amount of money for it no matter where you go?
Starting/running a business requires time, knowledge, responsibility, and money. It’s not something I would recommend to most.
fair enough. Entrepreneurs are what builds our economy, so I’d never discourage someone from starting his own business; but if he has no plan/passion (I have no idea) than obviously he shouldn’t do anything.
Gold is valuable no matter what, because humans like it and the government can’t print it. So if the currency becomes Bison dollars, the gold/silver will still be valuable. It’s an asset that has no counter party risk (other than someone stealing your gold from you).
I don’t want to hawk it too much because it’s not -always- a good performing asset. But it’s useful for diversification, and not a whole lot of people have gold. rcaido is clearly set for stocks, bonds, and cash (and real estate); so this is the next step.
It doesn’t have to be a large scale operation. It could be a small business, or better yet maybe if his extra income is that significant. Start a charitable organization or some shit. Or do some personal projects. Like research into medicine or materials or some awesome shit like that
@rcaido open an arcade with a combination of old school and new school games. Make sure that 90% of the games are fighters or beatem ups like Shinobi, Double Dragon, Final Fight
send the excess over here so that I may reach your level a little faster.
Seriously though, I’d probably do what they’re saying and either seek to further strengthen you stocks, or look into investing. You already said you haven’t done stocks, so I’d start reading up on them to see if it’s something you’d like or not. If you don’t already have a copy of The Intelligent Investor by now, get one. I believe it just got an update this year. :tup:
-Starhammer-
What do you guys think of that Robinhood App? Smells a little funny but they have financial backing. I hope it is somewhat successful but I think I’ll stick with other companies and see what happens.