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  1. #21
    Senior Member LostInNerSpace's Avatar
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    Quote Originally Posted by Lateralus View Post
    Stocks head for rally on word of gov't rescue plan: Financial News - Yahoo! Finance

    So far, this week has been awesome, two huge drops on Monday and Wednesday, followed by a recovery yesterday and another rally likely today. I'm sure there are people on this forum with better stories than mine. But I stand to make $1000-$1700 this week (depending on how Friday plays out), with only ~$10,000 invested. What I wouldn't do to have 100 times that amount invested right now...
    Overconfidence will spank you everytime. Have you given it back yet?

  2. #22
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by LostInNerSpace View Post
    Overconfidence will spank you everytime. Have you given it back yet?
    Heh, overconfidence?
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  3. #23
    mountain surfing nomadic's Avatar
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    holy..........

    good thing i got out of all my positions before i went to sleep!

    omg... im staying away from the market until all this political stuff clears up...

  4. #24
    Senior Member Lateralus's Avatar
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    Same here.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  5. #25
    Seriously Delirious Udog's Avatar
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    I've followed this thread with some interest. I spent the early part of last week wishing I knew more about the market to take advantage of the upswing, as well as the one that will very possibly happen next week if this bill gets pushed through. However, I don't want to jump into anything.

    I don't exactly see this bill pulling us out of everything, though, long term. I figure I have time to learn how to invest properly and still catch the major upswing.

    So my question is: do you guys have any recommendations as to where and how to start learning about the market and investing?

  6. #26
    mountain surfing nomadic's Avatar
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    ^ to be honest, im only able to trade because i worked in two different hedge funds that had about 200-5000+ times more volume than i trade.

    i personally stay out of stock markets because its not my area of specialty...

    but if i were to get into stock markets, AS A CASUAL INVESTOR i would just buy the stock of companies and products i like. i.e. if i think samsung makes great tv's, i would buy samsung stock. etc... if i like callaway golf clubs, i would buy callaway stock. etc...

  7. #27
    Senior Member ptgatsby's Avatar
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    Quote Originally Posted by Udog View Post
    So my question is: do you guys have any recommendations as to where and how to start learning about the market and investing?
    Probably the best thing to learn is that 80% of traders lose money, and there is no indication that the other 20% can maintain performance over a long period of time.

    It depends on what you want to accomplish, but the majority of people wanting to learn about investing should spend nearly all of their time on portofolio theory (which would include a lot about risk/time/diversification).

  8. #28
    Senior Member Lateralus's Avatar
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    I'm soooo tempted to pick up some Wachovia stock right now. I know their balance sheet doesn't look good, but if this bailout goes through, that may not matter. I'm thinking they'll rebound, big time, once this bailout is passed.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  9. #29

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    Quote Originally Posted by Modern Nomad View Post
    holy..........

    good thing i got out of all my positions before i went to sleep!

    omg... im staying away from the market until all this political stuff clears up...
    When you say you got out of your positions, did you put them in money-market funds? or perhaps all in your borker's particular money market fund (as in just one)?

    Quote Originally Posted by ptgatsby View Post
    Probably the best thing to learn is that 80% of traders lose money, and there is no indication that the other 20% can maintain performance over a long period of time.

    It depends on what you want to accomplish, but the majority of people wanting to learn about investing should spend nearly all of their time on portofolio theory (which would include a lot about risk/time/diversification).
    I believe I am about to be taught a very expensive lesson in diversification. Like many people, as I watched fund after fund blow-up, I moved them out in to "cash" (the designated money market fund) while taking small losses as a way to avoid big ones.

    This was meant only to be temporary. I figured once this crisis is over, I would move the investments back into a diversified portfolio.

    I wanted to move a lot of it to bond funds that I had since identified, but when I went to do so, I found out the Reserve Primary Fund had frozen. I couldn't take my money out. Not only that, but all the institutional investors had gotten a warning was able to withdraw their money at a $1.

    If at the end of all of this, I only loose 3% (the value was at 0.97 when frozen), I'll be jumping for joy. Their "seven day freeze" has turned into an "indefinite freeze."

    Oh. well. It's a good thing I'm young, and I was only counting on this money for retirement, and not day to day living.

    Accept the past. Live for the present. Look forward to the future.
    Robot Fusion
    "As our island of knowledge grows, so does the shore of our ignorance." John Wheeler
    "[A] scientist looking at nonscientific problems is just as dumb as the next guy." Richard Feynman
    "[P]etabytes of [] data is not the same thing as understanding emergent mechanisms and structures." Jim Crutchfield

  10. #30
    Senior Member Anja's Avatar
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    I've been watching my investments taking some tumbles for a while now and have been thinking about tucking it under my mattress! Mom and Dad's stories of the Depression are very fresh in my mind.

    How much will I make this week?

    I think the government will pay me about two-hundred for surviving this long. I'll probably hit my husband up for a couple of twenties over the weekend. So I'm all set! Livin' large!
    "No ray of sunshine is ever lost, but the green which it awakes into existence needs time to sprout, and it is not always granted to the sower to see the harvest. All work that is worth anything is done in faith." - Albert Schweitzer

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