Thread: HEY!!!!! I made over $20K today!!!

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  1. #1 HEY!!!!! I made over $20K today!!! 
    Super Moderator Constitutionally Speaking's Avatar
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    (of course I lost $60K last week!)


    Thankfully most of my funds were out of the market months ago.
    I long for the days when our President actually liked our country.
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    Senior Member marinejcksn's Avatar
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    Hey can you tell me about investing? I'm young so I want to get started for my retirement, the military has a pretty good program but my mutual funds took a hard beating, I want to branch out and diversify my investments. I'll have about 10 grand saved by the time I come home from Iraq and I want to put it to good use. I was thinking I'd put the 5K yearly maximum into a Roth IRA and hold the rest as an emergency savings account, can you offer any pointers on other things I should look at?
    "Don't vote. It only encourages the bastards." -PJ O'Roarke
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  3. #3  
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    Made $1,700 today. Sold a comercial water purification system to a horse breeder. Second commercial system this week. :)
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  4. #4  
    Super Moderator Constitutionally Speaking's Avatar
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    Quote Originally Posted by marinejcksn View Post
    Hey can you tell me about investing? I'm young so I want to get started for my retirement, the military has a pretty good program but my mutual funds took a hard beating, I want to branch out and diversify my investments. I'll have about 10 grand saved by the time I come home from Iraq and I want to put it to good use. I was thinking I'd put the 5K yearly maximum into a Roth IRA and hold the rest as an emergency savings account, can you offer any pointers on other things I should look at?

    This was no great accomplishment. The whole market went up 900 points on the day I made this post. The week before I lost a boatload of $. It was more of a sarcastic declaration than anything else.

    I'm just glad that most of my money has been out of the market for a while now.


    I subscribe to investors business daily. They have a very good evaluation program. IF you follow it. I seem to free-lance a bit too much.
    Last edited by Constitutionally Speaking; 10-26-2008 at 07:09 PM.
    I long for the days when our President actually liked our country.
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    Senior Member AlmostThere's Avatar
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    Buy a gun and start slinging junk on the corner. It's a lot safer than being in the market these days. :eek:

    Back in 2000, I lost a LOT of money in a very short period of time. You might consider some good mutual funds. Even those, you'd better do your homework and know what you're doing.
    Last edited by AlmostThere; 10-29-2008 at 03:10 AM.
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  6. #6  
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    Quote Originally Posted by AlmostThere View Post
    Buy a gun and start slinging junk on the corner. It's a lot safer than being in the market these days. :eek:

    Back in 2000, I lost a LOT of money in a very short period of time. You might consider some good mutual funds. Even those, you'd better do your homework and know what you're doing.

    Only if you sold.
    I long for the days when our President actually liked our country.
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    Senior Member AlmostThere's Avatar
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    Quote Originally Posted by Constitutionally Speaking View Post
    Only if you sold.
    Technically true but some tech stocks had gotten so over priced, they won't hit those prices again in my lifetime, maybe my kid's lifetime. In that sense it was money lost, sold or not. I did have a couple that went totally bust and the stock became worthless. The paper they were printed on was worth more than the stock. OUCH!

    It's really easy to get stupid while you're getting greedy. I'm sure you know Cramer's mantra: Bulls make money; Bears make money; Pigs get slaughtered.
    Last edited by AlmostThere; 10-31-2008 at 10:33 PM.
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    Quote Originally Posted by AlmostThere View Post
    Technically true but some tech stocks had gotten so over priced, they won't hit those prices again in my lifetime, maybe my kid's lifetime. In that sense it was money lost, sold or not. I did have a couple that went totally bust and the stock became worthless. The paper they were printed on was worth more than the stock. OUCH!

    It's really easy to get stupid while you're getting greedy. I'm sure you know Cramer's mantra: Bulls make money; Bears make money; Pigs get slaughtered.

    That sucks, sorry to hear that. I don't agree with Cramer though. (the implied moral maybe, but not his methodologies)
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    Senior Member AlmostThere's Avatar
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    Quote Originally Posted by Constitutionally Speaking View Post
    That sucks, sorry to hear that. I don't agree with Cramer though. (the implied moral maybe, but not his methodologies)
    Thanks but that one was totally on me. I was in my 30's on Black Monday, 1987, and I remember it well. I should have known better then to ride the tech wave of the 90's. Stocks with no earnings or even losing money hand over fist, selling for un-Godly prices. That was just my time to be incredibly stupid.
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  10. #10  
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    Quote Originally Posted by AlmostThere View Post
    Thanks but that one was totally on me. I was in my 30's on Black Monday, 1987, and I remember it well. I should have known better then to ride the tech wave of the 90's. Stocks with no earnings or even losing money hand over fist, selling for un-Godly prices. That was just my time to be incredibly stupid.

    Always remember your retirement money is not speculative money. Keep in mind your retirement needs and how long it is before you need your money. For retirement, keep you money in good companies - not necessarily blue chippers, but well run and profitable companies.

    When I was building up my accounts, I set aside my retirement money - but also set aside a bit to speculate with.
    I long for the days when our President actually liked our country.
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