Do you know anyone who is constantly broke?

[The Ozzman]

We'll i did give him a investment idea: Real Estate/Tax liens but i guess he's not interested in such.. best way to take over property for little money compared to buying a house outright...can rent it out or flip it by selling it to save money for a downpayment... besides a downpayment for a 500K house is $50,000 and with a good credit score. Not a easy task at such a young age. And by the time he has the downpayment that 500K house will be worth probably 800K so the new 500K house will be a smaller house then the one he originally anticipated. Since real estate market prices change yearly. Or that 500K house he wants could go down to 400K but the flipside to that is getting a mortgage (probably variable since he is young) with a higher interest rate. Damn if you do or damn if you don't lol High price and lower rate. Or Lower price and higher rate.

You have a link to something about tax liens? I have heard of them, but am not familiar with how they work (but I should be familiar with it).

I was going to say hire a broker and have them manage your money for a while.

 

[AchrisK]

that's one reason right there that I Really want a large house, my dad still hasn't given me the type of lifestyle that I desire. He's 50 years old and we are still living in this pathetic 240 thousand dollar house, which is a fucking joke

don't even have a basement and I fucking hate living here, we are supposed to be moving out to a 350 - 400 K house pretty soon, but considering it's my dad, I am sure he'll find many more ways to fuck up over and over again.

That's a real shit attitude, dude. Yeah, I don't know the situation, but he's your dad. I am not saying you need to agree with how he does things, but you should give him some respect. A lot of people's dads are much worse than what it sounds like yours is, and you talking about him like that makes you seem like a real little ass. It sounds like you are more than willing to allow monetary ideals and success to ruin relationships, and if you continue that way I can almost guarantee you will eventually be divorced, or just never married, and probably end up a lonely old man with money. It's just not worth it. Dude, when your dad is dying, you're probably going to wish you had not judged him so harshly.

Yeah, work hard, succeed, but know what is important.

ack

 

[Unfaithfully Metalhead]

You have a link to something about tax liens? I have heard of them, but am not familiar with how they work (but I should be familiar with it).

I was going to say hire a broker and have them manage your money for a while.

www.investingwithoutlosing.com

http://www.amazon.com/Complete-Guide...2147892&sr=1-2

Never let a broker manage your money... the old Buy and Hold method in the stock market does not work as well as the short term trading method... here's a book i recommend:

A Beginner's Guide to Short Term Trading by Toni Turner www.toniturner.com

 

[The Ozzman]

www.investingwithoutlosing.com

http://www.amazon.com/Complete-Guide...2147892&sr=1-2

Never let a broker manage your money... the old Buy and Hold method in the stock market does not work as well as the short term trading method... here's a book i recommend:

A Beginner's Guide to Short Term Trading by Toni Turner www.toniturner.com

On the bolded part: Completely wrong.

Define short-term. 3 months? 6 months? 1 year?


Just research the stock, the company's motives, growth opportunities, etc. If shit seems like it's going downhill, just sell. That could take a year or more to happen.

Short-term trading works if you do your homework. So does the 'Buy and Hold' mentality. It worked (and still works) for Warren Buffett.

 

[Unfaithfully Metalhead]

On the bolded part: Completely wrong.

Define short-term. 3 months? 6 months? 1 year?

The short-term method doesn't do it either. You should buy when the market is low and the equities you are looking at purchasing are undervalued (PE is low, revenue growth is high) and sell when you see bad signals or the stock becomes a dog or becomes overvalued.

On the bolded part... easy because a broker is a glorified bookie. They get paid commission whether you win or lose. If you drop him there is always someone else to take up as a client.If he was such good at managing money he wouldn't be a broker by now. His own account would be big enough to get out of being a broker. No one manages your money better then yourself because you have more motivation to. It is your money and you have more to lose.

In Swing or position trading it depends. Swing is a few days and Position can be a few months. Daytrading of course is a few minutes to a few hours but liquidated by the end of the day.

Actually you would be surprised that the short term does. I know many people who have done better with their short term trading accounts vs their mutual funds (and they have both for comparison). One lady I know has increased her account by 40% after dropping the buy & hold method. Plus remember you can win by going short as opposed to going long and now the SEC got rid of the "uptick" rule which is a plus for those who short stocks.

As for purchasing undervalued companies and such. I don't bother with fundamental analysis of a company because FA only tells you the financial health of a company but does not tell you when to enter or exit a stock position. The market for the most part is manipulated by the Market Makers regardless of a companie's financial health. Does FA help? yup it does but not as much as TA. FA should be for the buy & hold method and TA for the short term.

Anyways for example. I am not a fan of Penny stocks but once in awhile one peaks my interest. I looked at what industries have been in a uptrend for the last like 3 months and then search stocks in that industry. I came across FEEC (that is the stock symbol). Liked what I saw in terms of Technical analyis and made a limit order to buy at 1.11. It is currently at 1.71 as of close of Market today. I have a stop loss order just below 1.71 so I already have my profits locked in. But anyways that is just one example. You can do the same with stocks that are not penny stocks. If your interested PM me and I'll steer you to a forum and such about such talk from others who are into it.

Also remember Buffett is rich on paper but not in salary. Short Term Traders don't have their money tied up indefinetly because they do not buy & hold.

 

[The Ozzman]

On the bolded part... easy because a broker is a glorified bookie. They get paid commission whether you win or lose. If you drop him there is always someone else to take up as a client.If he was such good at managing money he wouldn't be a broker by now. His own account would be big enough to get out of being a broker. No one manages your money better then yourself because you have more motivation to. It is your money and you have more to lose.

In Swing or position trading it depends. Swing is a few days and Position can be a few months. Daytrading of course is a few minutes to a few hours but liquidated by the end of the day.

Actually you would be surprised that the short term does. I know many people who have done better with their short term trading accounts vs their mutual funds (and they have both for comparison). One lady I know has increased her account by 40% after dropping the buy & hold method. Plus remember you can win by going short as opposed to going long and now the SEC got rid of the "uptick" rule which is a plus for those who short stocks.

As for purchasing undervalued companies and such. The market for the most part is manipulated by the Market Makers regardless of a companie's financial health. Does FA help? yup it does but not as much as TA. FA should be for the buy & hold method and TA for the short term.

They get paid commission whether you win or lose.

It's a fee-based system now, not commission (at least for most financial services firms)

If he was such good at managing money he wouldn't be a broker by now.

My broker likes what he's doing and plans to do it until he retires.

I don't bother with fundamental analysis of a company because FA only tells you the financial health of a company but does not tell you when to enter or exit a stock position.

You have to be kidding me, right? Fundamental analysis changes enough to know when to enter or exit the market. If a company's debt to equity ratio is over 4, I'm not going to go long on the stock. That is just common sense (at least to me). I will go long once some of the debt is retired, but until then I am staying the fuck away.

If you believe the markets are weak-form efficient, then TA isn't ehough to figure out if a stock is worth buying. Also, using TA is a bit shaky if you aren't really sure about what you're doing. Most of the stock analysis and indicators based on when you should enter or exit the market are based on assumptions that YOU make. So, if you think a company's revenue is going to grow by 15% over the next few years, but I think it's going grow by only 5%, we're going to get drastically different results.

Weak-form efficiency pretty much says that TA is useless in getting excess returns on a stock.

Plus remember you can win by going short as opposed to going long and now the SEC got rid of the "uptick" rule which is a plus for those who short stocks.

I have a degree in Finance. I know all about short positions. Hell, I took a class on derivatives that focused on hedging your risk.

In case you don't believe me:

Here's some valuation techniques I've been using on a stock I am looking to buy:

Use by different portfolio styles

Investors may use fundamental analysis within different portfolio management styles.

* Buy and hold investors believe that latching onto good businesses allows the investor's asset to grow with the business. Fundamental analysis lets them find 'good' companies, so they lower their risk and probability of wipe-out.
* Managers may use fundamental analysis to correctly value 'good' and 'bad' companies. Even 'bad' company's stock goes up and down, creating opportunities for profits.
* Contrarian investors distinguish "in the short run, the market is a voting machine, not a weighing machine"[1]. Fundamental analysis allows you to make your own decision on value, and ignore the market.
* Value investors restrict their attention to under-valued companies, believing that 'it's hard to fall out of a ditch'. The value comes from fundamental analysis.
* Managers may use fundamental analysis to determine future growth rates for buying high priced growth stocks.
* Managers may also include fundamental factors along with technical factors into computer models (quantitative analysis).

Found here: http://en.wikipedia.org/wiki/Fundamental_analysis

I find trading through trends and charts to be somewhat silly. I never believed in it.

Also, if the market is truly a random walk, is all of this analysis necessary?

I hope so, or I'd be out of a job and my degree would be worthless.

 

[Hell Awaits Us All]

That's a real shit attitude, dude. Yeah, I don't know the situation, but he's your dad. I am not saying you need to agree with how he does things, but you should give him some respect. A lot of people's dads are much worse than what it sounds like yours is, and you talking about him like that makes you seem like a real little ass. It sounds like you are more than willing to allow monetary ideals and success to ruin relationships, and if you continue that way I can almost guarantee you will eventually be divorced, or just never married, and probably end up a lonely old man with money. It's just not worth it. Dude, when your dad is dying, you're probably going to wish you had not judged him so harshly.

Yeah, work hard, succeed, but know what is important.

ack

I don't even know what the fuck to say, honestly

I don't even feel any sort of love for him anymore. We don't have anything in common. There are almost no reedeming values in him whatsoever IMO

it's not even about money, my mom is not working right now either, but I still love her to death. I just don't care much anymore for my dad.

 

[Xorv]

I am 18 years old

one does not fail until he stops trying.

and you've stopped trying.

 

[Hell Awaits Us All]

and you've stopped trying.

what the fuck?

I am going to succeed with women, don't worry about that. it may take some work, but its going to happen.

 

[Xorv]

what the fuck?

I am going to succeed with women, don't worry about that. it may take some work, but its going to happen.

Dude, on the UM dating life thread you basically told me you're scared of hott women. Thats kinda sad.

Plus the fact that you are seriously the most materialistic person I've ever met. On or offline.

 

[Unfaithfully Metalhead]

It's a fee-based system now, not commission (at least for most financial services firms)



My broker likes what he's doing and plans to do it until he retires.



You have to be kidding me, right? Fundamental analysis changes enough to know when to enter or exit the market. If a company's debt to equity ratio is over 4, I'm not going to go long on the stock. That is just common sense (at least to me). I will go long once some of the debt is retired, but until then I am staying the fuck away.

If you believe the markets are weak-form efficient, then TA isn't ehough to figure out if a stock is worth buying. Also, using TA is a bit shaky if you aren't really sure about what you're doing. Most of the stock analysis and indicators based on when you should enter or exit the market are based on assumptions that YOU make. So, if you think a company's revenue is going to grow by 15% over the next few years, but I think it's going grow by only 5%, we're going to get drastically different results.

Weak-form efficiency pretty much says that TA is useless in getting excess returns on a stock.




I have a degree in Finance. I know all about short positions. Hell, I took a class on derivatives that focused on hedging your risk.

In case you don't believe me:

Here's some valuation techniques I've been using on a stock I am looking to buy:

Found here: http://en.wikipedia.org/wiki/Fundamental_analysis

I find trading through trends and charts to be somewhat silly. I never believed in it.

Also, if the market is truly a random walk, is all of this analysis necessary?

I hope so, or I'd be out of a job and my degree would be worthless.

No i believe you but FA is not good for the short term trader is all im saying... but I'll PM you instead.. don't want to be accused of having a stupid argument for pages by people who can't ingore it

 

[Hell Awaits Us All]

Dude, on the UM dating life thread you basically told me you're scared of hott women. Thats kinda sad.

I am 18 years old, I have about 20 years to succeed with women.

Plus the fact that you are seriously the most materialistic person I've ever met. On or offline.

it's not even about the house, it's the fact that I am "middle class"

I fucking hate being middle class, middle class = average. That is fucking disgraceful to me. I despise being middle class, I despise being average in anything in life whatsoever.

call it an inferiority complex if you want to, but I want to be at least among the best in everything, everywhere, everytime.

what drives me nuts is when I see these apathetic, worthless "rich" kids who have every fucking opportunity in life yet don't amount to jack shit. That should be me in their position, give me some of those opportunities, some of those advantages and you will see I would achieve incredible things.

 

[Rabid Headbanger]

what the fuck?

I am going to succeed with women, don't worry about that. it may take some work, but its going to happen.

Rohypnol doesn't count as a sucess...

 

[MasterOLightning]

Being middle class is actually above average, statistically, even for the US. In terms of the rest of the world, you're better off than 90% of it.

 

[Ender Rises]

so fucking what? I have higher expectations than you.

what's really fucking frustrating to me is that he doesn't have to pay for shit. My oldest sister (who doesn't live with us anymore) makes extremely high salary, my middle sister makes around 40-50 k a year, and I make 15-18 k a year

he doesn't have to pay for jackshit, we (me and my sisters) all pay for our colleges, our cars, our clothes, every fucking thing we basically pay for

all he's gotta do is make enough to pay for food (which is very little considering I pay for all my supplements, and my sister eats out all the time), house, home insurance, shit like that and he still fails...

I would be more sympathetic if he has all sorts of bills and shit to pay for, but he just doesn't

I don't expect jack-shit from my parents, I am taking care of my own shit, college, etc. Everything I own (almost) I bought. I bought my guitar, amp, mp3 player, most of my clothes, etc. So don't start bragging about that shit. I'm not going to be so poor that my electricity gets turned off. I do have expectations for myself, high ones at that, considering none of my family have ever gotten a Bachelor's degree. I am coming out of a shitty situation that most people would give up in and just become a druggie. So don't come in here thinking you're fucking better than everyone else. God you're a shallow stupid fucking piece of shit.

 

[AchrisK]

I don't even know what the fuck to say, honestly

I don't even feel any sort of love for him anymore. We don't have anything in common. There are almost no reedeming values in him whatsoever IMO

it's not even about money, my mom is not working right now either, but I still love her to death. I just don't care much anymore for my dad.

Well, I don't know either. Life isn't easy, and people are far from perfect. I just know people's relationships with their parents are important to them, weather they realize it or not, and it effects them. Maybe when you can move out and separate yourself from the relationship for a while it can go back to a better situation. I don't know. Maybe just appreciating that he's even still there. If you're 18 and you still have both original parents, that's pretty rare. Dang, I really am starting sound like Dr. Phil.

ack

 

[Death Aflame]

I'm kinda like that but I am still a student just trying to make sure I don't have a completely insurmountable amount of debt after I graduate. But I still am able to get out fairly frequently.

Edit: referring to the original post by the TC.

 

[Reign in Acai]

what the fuck?

I am going to succeed with women, don't worry about that. it may take some work, but its going to happen.

Baba Booey.

 

[Matt]

Oh my fucking God, what fucking right do you have to bitch about living in a 240k house? I live in a fucking trailer. I'm moving a step up in the world... I'm going to be moving into an apartment. You're real fucking shallow to be able to bitch about living in a basement. I used to live in a house where the ceiling of my room collapsed as I was in the shower getting ready for bed... if I had skipped a shower that night I could be dead or severely brain damaged. You don't see me bitching about my parents and how neither are successful, do you? Go fuck yourself.

I agree with this.

so fucking what? I have higher expectations than you.

what's really fucking frustrating to me is that he doesn't have to pay for shit. My oldest sister (who doesn't live with us anymore) makes extremely high salary, my middle sister makes around 40-50 k a year, and I make 15-18 k a year

he doesn't have to pay for jackshit, we (me and my sisters) all pay for our colleges, our cars, our clothes, every fucking thing we basically pay for

all he's gotta do is make enough to pay for food (which is very little considering I pay for all my supplements, and my sister eats out all the time), house, home insurance, shit like that and he still fails...

I would be more sympathetic if he has all sorts of bills and shit to pay for, but he just doesn't

You're fucking 18 and should pay for your own damn things. You're an adult. You can't expect your parents to give you every little fucking thing. You're just like all the spoiled rotten rich kids at my school. You're lucky you don't have my dad as a father. If you had that attitude for 5 seconds you'd be on the street.

that's one reason right there that I Really want a large house, my dad still hasn't given me the type of lifestyle that I desire. He's 50 years old and we are still living in this pathetic 240 thousand dollar house, which is a fucking joke

don't even have a basement and I fucking hate living here, we are supposed to be moving out to a 350 - 400 K house pretty soon, but considering it's my dad, I am sure he'll find many more ways to fuck up over and over again.

You're a fucking asshole. 240k? I like in 135k house while my dad goes over to Iraq to fight the bullshit war on terror. We're as middle class as you can get. You are a fucking pussy. ROFL at the bolded line. You expect your parents to give a grandeur lifestyle? You ungrateful piece of shit.

"my dad still hasn't given me the type of lifestyle that I desire". Jesus Christ.

 

[Thoth-Amon]

"my dad still hasn't given me the type of lifestyle that I desire". Jesus Christ.

Oh man... yeah Dave you really shot yourself in the foot with that one...