Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 07-30-2008, 04:30 PM   #61
Thinks s/he gets paid by the post
 
Join Date: Jan 2004
Posts: 2,049
Quote:
Originally Posted by kstronggt View Post
I first was introduced to these ideas by Phil Town, who idolizes Warren Buffett. He has a book, and now appears on a show on CNBC.
You really shouldn't get your investment advice from CNBC.
__________________

__________________
eridanus is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-30-2008, 05:03 PM   #62
Thinks s/he gets paid by the post
Milton's Avatar
 
Join Date: Apr 2007
Posts: 2,060
Oh, I don't know. CNBC is probably as good a source as any, if you think Warren Buffett's success is easily duplicated and believe in "the realm of fundamental investing, with a technical twist" (whatever that means).
__________________

__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
Milton is offline   Reply With Quote
Old 07-30-2008, 09:48 PM   #63
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Quote:
Originally Posted by Milton View Post
Oh, I don't know. CNBC is probably as good a source as any, if you think Warren Buffett's success is easily duplicated and believe in "the realm of fundamental investing, with a technical twist" (whatever that means).
Hey, even Buffett spent eight years on technical analysis.

And even Ben Graham missed a few tricks.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 07-30-2008, 11:08 PM   #64
Recycles dryer sheets
 
Join Date: Oct 2005
Posts: 325
kstronggt, some tips for your new venture:

Need to fix your website for safari. Mac users are more prolific than you think. Attached is a picture of what it looks like.

Also, change the fonts on it. Probably stick with Verdana, Arial, Helvetica, Sans-serif or something similar. Looks like your using Times New Roman. That is very 1995.

Change the address of the web site to something related to building wealth and retiring early. Something like "build-wealth-retire-early.com". This is going to garner you much more search traffic than with kcsretirement.com.

This is just the beginning. Lots to learn. Check out digitalpoint.com forums and browse around for some SEO tricks.

Since the product you are selling though seems very saturated and "10 years ago", I wouldn't bank your future on it. Once you learn the skills though, you can apply it to another "real" business and actually make some money. I warn you though, hard work will be involved.
Attached Images
File Type: png kcsretirement_site.png (376.3 KB, 13 views)
__________________
CybrMike is offline   Reply With Quote
Old 07-30-2008, 11:55 PM   #65
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
Quote:
Originally Posted by jclarksnakes View Post
Well darned it all. Thanks for reminding me just how poor I am. It takes me a full week to lose $30K in the market.
If it makes you feel any better, it takes me a year! My NW is only ten times this guy's! I'm so bitter!

Nords, grab me a frosty one, too!

Oh man, too funny. And don't try to deny for a minute that some of you had your mouth start watering when you saw this thread. Sometimes it's fun to hit a pinata!

To the OP. If you aren't trolling or spamming, spend some time reading threads here, you'll find a ton of self made millionaires here and a lot of aspiring ones well on their way. What do you know about fund bloat and survivor bias? A book that gets a lot of respect here is "4 pillars of investing". Not everyone agrees with it completely, but it gives a good starting point to some of the prevailing thoughts on this board.

Investment seminars, Kiyosaki etc. are pretty much anathema here. This is a bunch of old fashioned earn the money types here.
__________________
laurence is offline   Reply With Quote
Old 07-30-2008, 11:58 PM   #66
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
I never got the "FOR A LIMITED TIME ONLY!!!!" thing. What, you are going to stop selling your product after ten days? "Sorry, I know you want to give me your money, but word is bond!"

EDIT: Oh goodness, from your blog:

"Several years ago, I fell in love with the philosphies of Robert Kiyosaki and the Rich Dad, Poor Dad
philosophies. Kiyosaki has allowed me to look at work and money with a completely different perspective than most. Since then, every book I have ever read about money has only confirmed the truths that Kiyosaki teaches about money."

Dude, this guy is the biggest pile of $@%#, really. Put down the glass pipe now before it's too late!
__________________
laurence is offline   Reply With Quote
Old 07-31-2008, 12:08 AM   #67
Confused about dryer sheets
 
Join Date: Jul 2008
Location: Salt Lake City
Posts: 4
Thanks for all of your input. I am sorry if I offended some of you with my comments about not having made it yet. You have me figured out when you say I don't know it all yet. I want to be a good member of this ER community, so I will probably not be posting anymore in this thread, at least until I have my first success or failure to tell you about. It seems that my posts have a way of stirring the pot. Maybe that's why some call me the spoon. I will post occasionally in other forums, but I will mostly sit back for a while, and see what I can learn from you.

Although, I have a hard time avoiding conflict, so I have one more comment: I'm very sorry that so many of you are losing $30K a day in the market. That doesn't sound very fun. If I ever lost $30K a day in the market, I might consider looking at a different place to put my money. Afterall, if you suffer a 50% (or 10%, or whatever) loss in your portfolio, wouldn't you then have to realize a 100% (or double your loss) gain just to break even? Just a thought...
__________________
kstronggt is offline   Reply With Quote
Old 07-31-2008, 12:19 AM   #68
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
People here who saw a 30k loss in the market saw that loss because of their extremely high net worth. Warren Buffet loses 30k in a minute on any trading day.
__________________
laurence is offline   Reply With Quote
Old 07-31-2008, 12:59 AM   #69
Thinks s/he gets paid by the post
Leonidas's Avatar
 
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
Quote:
Originally Posted by kstronggt View Post
Although, I have a hard time avoiding conflict, so I have one more comment: I'm very sorry that so many of you are losing $30K a day in the market. That doesn't sound very fun. If I ever lost $30K a day in the market, I might consider looking at a different place to put my money. Afterall, if you suffer a 50% (or 10%, or whatever) loss in your portfolio, wouldn't you then have to realize a 100% (or double your loss) gain just to break even? Just a thought...
If you ever take a chart apart and look at the daily trading you will see that what appears as a neat line curving up to the right over the long term is made up of a lot of little (and some not so little) jumps up and down. It is the nature of the beast, investments don't just go up forever without taking a break every now and again. Until you cash out, all your profits and losses are just numbers on the monitor.

If you take a hit on one day because Mr. Market decided that was the day to do something silly, yanking your dough and heading for the hills is a good way to lock in a potential loss. It's how big piles of money become little piles of money. You just have to know the difference between when Mr. Market is playing with you and when you're holding a bad hand that's not getting any better.
Quote:
Originally Posted by laurencewill View Post
People here who saw a 30k loss in the market saw that loss because of their extremely high net worth. Warren Buffet loses 30k in a minute on any trading day.
Heck, I figure Warren can lose $3 Million before lunch and his biggest worry is if he's going to have Salisbury Steak or the Chef Salad for lunch.

Oh, btw Kstronggt, the whole "you're just bitter because you guys haven't made it yet" thing? Well, you might want to check yourself before you toot on that horn some more and do a little reading on the other posters. At least two of those who have commented here so far might have about $30K just in loose change in their sofa cushions.
__________________
There is no pleasure in having nothing to do; the fun is having lots to do and not doing it. - Andrew Jackson
Leonidas is offline   Reply With Quote
Old 07-31-2008, 06:10 AM   #70
Full time employment: Posting here.
 
Join Date: Feb 2006
Posts: 987
Quote:
Originally Posted by laurencewill View Post
People here who saw a 30k loss in the market saw that loss because of their extremely high net worth.
Confirmed (although I won't speak specific "numbers" on a public forum )...

BTW - as long as the "up" days exceed the "down" days, it really dosen't matter. I only refill my annual income "cash bucket" once a year (assuming the current year shows a gain). If I don't see that gain for 3-5 years, I don't worry about it. That's why I keep a large cash position - so the "market flux" dosen't mean much year to year.

Of course, being retired (and already having achieving financial security - for my/DW's lifestyle), I can afford to be more conserative. I understand the "young folks" who need to be a bit "more creative" to make their money work in order to achieve their financial goals. Hey - even I was "young" at one time and took more risks. Of course, during those early days, I had much less to lose.

- Ron
__________________
rs0460a is offline   Reply With Quote
Old 07-31-2008, 06:32 AM   #71
Full time employment: Posting here.
 
Join Date: Feb 2006
Posts: 987
Quote:
Originally Posted by jclarksnakes View Post
Well darned it all. Thanks for reminding me just how poor I am. It takes me a full week to lose $30K in the market.
It all depends how old you are, and how far you are in your "financial plan". You can't look at "X" dollars. You have to look at the percentage gain/loss, regardless of dollar amount of retirement investment/assets.

For some, $30k may represent 10% (or more) of their portfolio. For others, $30k may be a fraction of 1%.

Percentage (plus/minus) count. Dollar amounts (while entertaining) don't.

- Ron
__________________
rs0460a is offline   Reply With Quote
Old 07-31-2008, 07:37 AM   #72
Moderator Emeritus
Rich_by_the_Bay's Avatar
 
Join Date: Feb 2006
Location: San Francisco
Posts: 8,827
Quote:
Originally Posted by kstronggt View Post
Although, I have a hard time avoiding conflict, so I have one more comment: I'm very sorry that so many of you are losing $30K a day in the market. That doesn't sound very fun. If I ever lost $30K a day in the market, I might consider looking at a different place to put my money. Afterall, if you suffer a 50% (or 10%, or whatever) loss in your portfolio, wouldn't you then have to realize a 100% (or double your loss) gain just to break even? Just a thought...
Ken, you realize of course that the point people are making about losing $30k in a day is that they have a lot of money as their denominator, right? A $2mm nest egg that loses (along with the entire market) 1.5% in a day will lose $30k that day. Almost qualifies as background noise.
__________________
Rich
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.

As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
Rich_by_the_Bay is offline   Reply With Quote
Old 07-31-2008, 08:48 AM   #73
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,248
Quote:
Originally Posted by kstronggt View Post

Although, I have a hard time avoiding conflict, so I have one more comment: I'm very sorry that so many of you are losing $30K a day in the market. That doesn't sound very fun. If I ever lost $30K a day in the market, I might consider looking at a different place to put my money. Afterall, if you suffer a 50% (or 10%, or whatever) loss in your portfolio, wouldn't you then have to realize a 100% (or double your loss) gain just to break even? Just a thought...

Man.... it is amazing the stupidity inexperience of some....

Go do some research... Sam Walton was the first person to ever lose $1 BILLION dollars in one day... (at least in the US stock market)... It was during the '87 crash... IIRC, someone asked him how if felt to lose a billion.... he said something like... "I didn't lose a thing... I still have my store, I still have my truck..." and he drove an old beat up pickup..
__________________
Texas Proud is online now   Reply With Quote
Old 07-31-2008, 09:00 AM   #74
Thinks s/he gets paid by the post
Milton's Avatar
 
Join Date: Apr 2007
Posts: 2,060
Quote:
Originally Posted by kstronggt View Post
Although, I have a hard time avoiding conflict, so I have one more comment: I'm very sorry that so many of you are losing $30K a day in the market. That doesn't sound very fun. If I ever lost $30K a day in the market, I might consider looking at a different place to put my money.
I smell a troll (he can't be that ignorant!). Enough is enough.
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
Milton is offline   Reply With Quote
Old 07-31-2008, 09:05 AM   #75
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 5,160
Nords, I'm ready for that cold one now!
__________________
RunningBum is offline   Reply With Quote
Old 07-31-2008, 09:10 AM   #76
Thinks s/he gets paid by the post
retire@40's Avatar
 
Join Date: Feb 2004
Posts: 2,670
Quote:
Originally Posted by Milton View Post
I smell a troll (he can't be that ignorant!). Enough is enough.
Don't forget, he only has $30K saved up. This is all new to him.

My kid is concerned with spending $5 he earned while doing some yardwork at his uncle's house. He told me that even if he only spends $2, there goes 40% of what he earned that day, so he banks it instead and knows that Dad will buy him the ice cream.

Some of these "small" numbers can be very troubling to a beginner.

It's all relative.
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
retire@40 is offline   Reply With Quote
Old 07-31-2008, 09:10 AM   #77
Full time employment: Posting here.
 
Join Date: Feb 2007
Posts: 595
Perhaps he is hoping to make his money off of this forum in tips for his entertainment..... come on now.... pass the cup around for this guy!!! We should pay something for this level of entertainment right?
__________________
armor99 is offline   Reply With Quote
Old 07-31-2008, 09:25 AM   #78
Full time employment: Posting here.
citrine's Avatar
 
Join Date: Mar 2007
Posts: 944
kstrongt: welcome to the board....you will learn a lot here, if you are willing to listen.
BTW...how does your wife feel about you leaving work and playing the stock market with all of your savings? Will she be working while you do this?
I have the same dream of retirining early, but I need to work for the next 12 years to amass enough of a safety net to semi-retire. Have you thought about the impact on your kids? Is there any way for you to do this business venture on the side while you still retain your full time job?
__________________
citrine is offline   Reply With Quote
Old 07-31-2008, 03:35 PM   #79
Full time employment: Posting here.
 
Join Date: Jun 2006
Posts: 926
Quote:
Originally Posted by rs0460a View Post
It all depends how old you are, and how far you are in your "financial plan". You can't look at "X" dollars. You have to look at the percentage gain/loss, regardless of dollar amount of retirement investment/assets.

For some, $30k may represent 10% (or more) of their portfolio. For others, $30k may be a fraction of 1%.

Percentage (plus/minus) count. Dollar amounts (while entertaining) don't.

- Ron
Ron,
...I am somewhere between those percentages in your example. I lose it one week and make it back the next. No problem. We will be able to live on the pensions without actually needing any of the portfolio so it is all good from my viewpoint. I guess my admittedly strange sense of humor does not always come through (or play very well) over the internet.
Jeff
__________________
jclarksnakes is offline   Reply With Quote
Old 07-31-2008, 05:51 PM   #80
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,387
Quote:
Originally Posted by jclarksnakes View Post
Ron,
...I am somewhere between those percentages in your example. I lose it one week and make it back the next. No problem. We will be able to live on the pensions without actually needing any of the portfolio so it is all good from my viewpoint. I guess my admittedly strange sense of humor does not always come through (or play very well) over the internet.
Jeff
I remember very clearly a day in March 2000. I became $40K richer that single day. That would not be significant, except that I always thought of myself as a conservative guy. Sure, I had a seven-figure portfolio, but I was still holding 30% cash, with some conservative MFs. But the stars in the mix were the high techs of my own choice. I had no dotcoms, but a bunch of semiconductor companies, internet infrastructures, all kind of high techs. Was I brilliant or what?

Whatever I bought turned into gold. That did not feel right. So, the next day, I got scared and sold some, about $80K worth. Then, the day after, I saw that those $80K would have become $100K if I didn't sell. Fear turned back to greed. Then greed turned into fear. Back and forth several times a day.

I was so rich - on paper anyway - yet I lost sleep. I was tormented. I read Malkiel's "Random Walk" again and again, looking for an explanation. It was in there, called BUBBLE, but I wondered if it were different this time.

Well, I should have sold all, but didn't. Over the next 2 years, I became $600K poorer. Oh, I missed the "stock mania" of a lifetime. Of course, I was not that dumb to get sucked into the next housing bubble. I kept shaking my head over the climb of house prices. But I did not think of shorting home builders and subprime lenders. Oh well, maybe the next bubble...
__________________

__________________
NW-Bound is offline   Reply With Quote
Reply

Tags
early retirement, quitting job


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Perhaps we should work longer? JustCurious FIRE and Money 55 02-17-2008 05:27 PM
live longer perinova Life after FIRE 43 09-13-2006 07:25 PM
Wow! Quitting a Job is Difficult BunsGettingFirm Young Dreamers 24 04-28-2006 07:25 PM
No longer lurking moretolife Hi, I am... 1 11-28-2005 07:08 PM
The next big trend: quitting wabmester Other topics 5 01-02-2005 10:07 AM

 

 
All times are GMT -6. The time now is 08:23 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.