scine09 Posted May 21, 2018 Report Share Posted May 21, 2018 22 hours ago, abenjami said: Yes, I agree. It is a real economic cost in terms of opportunity, but it is different than "losing money". I'm still 20+ years away from retirement. I think I'll be fine Then what the hell were you doing getting out when you knew that the market would almost definitely grow in the long-term? Link to post Share on other sites More sharing options...
abenjami Posted May 21, 2018 Report Share Posted May 21, 2018 1 hour ago, scine09 said: Then what the hell were you doing getting out when you knew that the market would almost definitely grow in the long-term? Read the thread. I was trying to sell high and get back in after a drop. Link to post Share on other sites More sharing options...
OILERMAN Posted May 21, 2018 Report Share Posted May 21, 2018 2 hours ago, abenjami said: Read the thread. I was trying to sell high and get back in after a drop. In all honestly you're lucky it failed miserably. I've seen many stories where people accidently times the market right and it cost them even more long term thinking they knew what they were doing. Link to post Share on other sites More sharing options...
OILERMAN Posted May 21, 2018 Report Share Posted May 21, 2018 What I've seen people do...... At some point your principal is going to be what makes the most earnings long term. So they stay invested and put their new contributions into a money market account and wait for downturns to invest the new money. I wouldn't do that either but it's way safer Link to post Share on other sites More sharing options...
abenjami Posted May 22, 2018 Report Share Posted May 22, 2018 9 hours ago, OILERMAN said: What I've seen people do...... At some point your principal is going to be what makes the most earnings long term. So they stay invested and put their new contributions into a money market account and wait for downturns to invest the new money. I wouldn't do that either but it's way safer It’s crazy to think what could have been. Remember when this started we discussed possible places I could stash the wad of cash to earn something while waiting for the market to fall. Bitcoin wasnt discussed back then but it has increased about 10x since. I could have made millions just putting it all in bitcoin. Which of course would have been a crazy thing to do. Link to post Share on other sites More sharing options...
XAEA12 Posted May 22, 2018 Report Share Posted May 22, 2018 On 5/19/2018 at 9:00 AM, Legaltitan said: Thanks y'all for the kind words. You have to admit most people here are great people. The losers and assholes we do a pretty good job of shunning away. Of course a few never seem to learn... I think you've got this all backwards. Link to post Share on other sites More sharing options...
OILERMAN Posted May 22, 2018 Report Share Posted May 22, 2018 4 hours ago, abenjami said: It’s crazy to think what could have been. Remember when this started we discussed possible places I could stash the wad of cash to earn something while waiting for the market to fall. Bitcoin wasnt discussed back then but it has increased about 10x since. I could have made millions just putting it all in bitcoin. Which of course would have been a crazy thing to do. Yea who knew the market or bitcoin would have went up the last two years, just bad luck I suppose! Link to post Share on other sites More sharing options...
OILERMAN Posted May 22, 2018 Report Share Posted May 22, 2018 BTW, I don't have a bitcoin fund in my 401k. Link to post Share on other sites More sharing options...
Legaltitan Posted May 22, 2018 Author Report Share Posted May 22, 2018 Bitcoin lol EDITED to add: I may very well have money in a bitcoin fund. I have no idea. I have a guy that handles all that for the last 10 or so years. As long as he keeps making me money and beating the market I don't ask questions. Now for reasons I don't know anything about my investments. I just keep sending he and his company money and he keeps making it grow. Link to post Share on other sites More sharing options...
ShadowCreek Posted May 22, 2018 Report Share Posted May 22, 2018 Sounds like a Ponzi scheme. Hurry up and cash out while you still can. Link to post Share on other sites More sharing options...
ManningEnvy Posted May 22, 2018 Report Share Posted May 22, 2018 5 minutes ago, ShadowCreek said: Sounds like a Ponzi scheme. Hurry up and cash out while you still can. Hey FistShaker, where has this private been lately? Did you lock his moronic ass in the brig when he said Locker was going to win the SB for the Titans? Link to post Share on other sites More sharing options...
japan Posted May 22, 2018 Report Share Posted May 22, 2018 1 hour ago, Legaltitan said: Bitcoin lol EDITED to add: I may very well have money in a bitcoin fund. I have no idea. I have a guy that handles all that for the last 10 or so years. As long as he keeps making me money and beating the market I don't ask questions. Now for reasons I don't know anything about my investments. I just keep sending he and his company money and he keeps making it grow. If he's 'beating the market' every year, I would start investigating what he's doing.... Link to post Share on other sites More sharing options...
Legaltitan Posted May 22, 2018 Author Report Share Posted May 22, 2018 32 minutes ago, ShadowCreek said: Sounds like a Ponzi scheme. Hurry up and cash out while you still can. Bitcoin is a Ponzi scheme, I agree. Link to post Share on other sites More sharing options...
Legaltitan Posted May 22, 2018 Author Report Share Posted May 22, 2018 20 minutes ago, japan said: If he's 'beating the market' every year, I would start investigating what he's doing.... Beating or equaling. He is at a major institution and subject to extreme oversight. Legitimacy not an issue here. The point here isn't that I have possession of some super secret investment strategy. I don't. The point is I have always let professionals that do that stuff for a living do their job. Just like my guy would be a dummy to represent himself in Court, I am not qualified to make correct investment decisions. But there is no real secret, and honestly if someone says they have some sort of super-secret investment strategy you should run, not walk away, from them. I have every confidence my guy follows the O-Man system, which is investing in boring, indexed/institutional funds using dollar cost averaging. I did not mean to overstate anything that I'm making more money that most off investments. I'm making the same money people who use wise, conservative investment strategies are making. Or maybe he is a fraud and I'll just sue the hell out of him one day. Link to post Share on other sites More sharing options...
OILERMAN Posted May 22, 2018 Report Share Posted May 22, 2018 4 hours ago, Legaltitan said: But there is no real secret, and honestly if someone says they have some sort of super-secret investment strategy you should run, not walk away, from them. I have every confidence my guy follows the O-Man system, which is investing in boring, indexed/institutional funds using dollar cost averaging. That's just it, there isn't a secret formula, it's simple. You dollar cast average into boring index funds over time and you'll get wealthy. End of story. The reason people perform below the market, way below the market, is because they let emotion dictate moving their money. I saw a Fidelity study that showed the market performed around 10% over a set amount of years but investors averaged 2% because they moved. Fidelity showed that dormant accounts investing in index funds did the best. Link to post Share on other sites More sharing options...
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