Looking to chat to sophisticated investors

[copyright1997reloaded]

That is great, and this is a marketplace of ideas open to anyone. Maybe you'll exchange some fantastic ideas with planman. He's expressed a particular desire to exchange ideas with this demographic: people who are "50 somethings" and who live in Florida. He's also said he has special skills, has made a lot of money, and that investors shouldn't waste time getting advice from a retail broker ("if he knows how to invest, what does he need you for?"--and I agree with that). Instead, he says you should hire someone who knows how to invest (and I wonder: If he knows how to invest, what does he need you for?). Maybe planman thinks investors should hire someone with "special skills." As he has said: A fool and his money are soon parted.

Well, I'm not in his planman's demographic group.

Seems possible. Start in the forum, go to PMs (no pesky naysayers), then a meetup to really get into the details. It could be very, ummh, exciting.

I assume you are trying to be funny? Or is it just sarcasm? It seems to me that you have a bit of attitude yourself.

I've tried to inject a few times now a reasonable discussion of why some of these techniques are interesting. I did read the other thread where planman tread crapped with some inappropriate statements. He was then directed to start a new thread (this one), which he did. Again, his use of 'sophisticated' in the OP wasn't the best, but it doesn't totally negate the usefulness of the discussion.

I really have nothing to prove to you (or anyone else for that matter) regarding my investments, and I don't need you protecting me from him.

In any case, I doubt planman will be back. ETA: For me, I'm also done with this thread given it has strayed far from what I hoped it would be.

 

[youbet]

A loonie tunes cartoon may be on the horizon.

We can only hope........

What's the best strategy for saying something that gets the thread closed but isn't horrific enough to get you an official demerit? Something right in the "sweet spot".............

 

[samclem]

. . . I don't need you protecting me from him.

You and I aren't the only people reading his posts.

 

[youbet]

I just read along for the entertainment value, but I wonder why OP refined his goals in this thread when he said he wants to establish a dialog with 50-somethings who are sophisticated investors in the Florida area since OP's profile says he in in New York. That's a pretty specific group. Perhaps there is an incredible offer?

Or perhaps OP is one of the FA/broker types who fishes for clients on forums? They start with exchanged PM's, move to email, then addresses and phone numbers.

 

[brewer12345]

This sort of thread is why I basically don't start threads any more about anything the least bit unorthodox. Does not matter what the topic, the braying herd of naysayers will be along directly. Granted OP did not exactly take the most conciliatory tone, but still...

 

[redduck]

...I really have nothing to prove to you (or anyone else for that matter) regarding my investments, and I don't need you protecting me from him.

Actually you don't have anything to prove regarding your investments, but maybe that's because you haven't made bold, yet, unsubstantiated claims (at least I don't think you have).

And, I imagine everyone needs some form of protection about something sometimes. I know I do.

 

[youbet]

This sort of thread is why I basically don't start threads any more about anything the least bit unorthodox. Does not matter what the topic, the braying herd of naysayers will be along directly. Granted OP did not exactly take the most conciliatory tone, but still...

While OP solicited discussion on sophisticated investing ideas, he didn't offer anything specific. I only saw some chest-thumping generalities about apparent historical successes. It was more like he wanted a podium from which to trumpet his historical acts of past brilliance.

I personally did very well trading and eventually holding one of the trades that was discussed on a thread you started years ago brewer. But that was a discussion about two specific issues (one of which recently matured) and not just rambling on about how past so-called "sophisticated actions" made OP a wealthy man and truly deserving of ongoing praise and recognition.

Another thread I've learned a lot from is the ongoing preferred stock thread.

There is a difference between throwing actionable, real time ideas out and just talking about how sophisticated you are in general and how successful you've been in the past.

And in case I've never mentioned it, thanks for your discussion suggestion on the SLM (now Navient) preferreds which eventually have worked out very nicely for me.

 

[brewer12345]

While OP solicited discussion on sophisticated investing ideas, he didn't offer anything specific. I only saw some chest-thumping generalities about apparent historical successes. It was more like he wanted a podium from which to trumpet his historical acts of past brilliance.

Like I said, OP's tone may have been less than conciliatory. However, I understood very clearly that he (perhaps foolishly) took the subforum title at face value and started an overture to discuss special situations trades. The usual suspects started doing the seagull thing (fly in squawking, crap all over everything, fly away squawking) and that was the end of that. It is unfortunate, but it also is the way things have been here for a while. Now OP knows, I suppose, and everyone else has gotten a refresher.

 

[Gumby]

If I were going to perpetrate an investing scam, this is what I would do:

1. Boast about my results using an esoteric trading strategy –

I was able to amass over 10,000 shares of LMT upon filing and received LDOS shares at an avg price of $33 share now over $50.

2. Imply that normal people can’t possibly understand the methods I use –

These type of investments are often mispriced and are too complicated and obscure for most individual investors. Finding these types of investment requires some unique research skills and the ability to find, read and understand SEC filings in an efficient and timely manner.

3. If challenged, obfuscate --

I have never used one strategy over any 10 year period as the inefficiencies that drive any strategy are fluid and depend on what part of the market cycle we are in.

Now what do you think Keynes would think of Fama ? IMHO Keynes makes the perfect case for inefficient markets and the weak form of the EMH. Fama carved out several market anomalies in his work on EMH. Learning about these areas by reading books by Peter Lynch and Seth Klarman may give you a basis to develop some original ideas.

4. Attempt to establish a “special connection” with my new favorite friend --

PM me where you live and maybe I can give you a few ideas.

I've posted a few ideas on this thread publicly anyone who wants to trade further ideas can PM me.

5. Attempt to establish a sense of reciprocal obligation --

I have no interest in telling you anything or anyone else anything if I get nothing in return.

6. Imply that anyone who doesn’t take my bait is a loser or child who just can’t hang with the cool kids --

come up with an original idea other than following the herd of sheep in an index fund and I'm all ears, otherwise engaging in this type of mastrubation is a waste of everyone's time boys.

 

[Mulligan]

I must be a sophisticated investor. Just this past week I made 40% in just 2 days and sold. The bad news though it was only $500 profit buying and flipping 13 shares of a stock MSEXP (buying at $132 and selling at $175) that hadnt traded but once since 2003 and there are only 800 shares outstanding. .....Never mind, since I dont really know what caused it to happen I am not a sophisticated investor and have to admit it was all blind luck.

 

[Boho]

Yes, I believe the OP has an eventual sales pitch in mind and I might even take away his PM privileges but I also agree about the usual suspects part. And if you enter into the OPs agreement and promise a trading tip that turns out to be a boglehead thing, then you entered into the agreement in bad faith and you've pretty much stolen from the OP.

 

[youbet]

Like I said, OP's tone may have been less than conciliatory. However, I understood very clearly that he (perhaps foolishly) took the subforum title at face value and started an overture to discuss special situations trades. The usual suspects started doing the seagull thing (fly in squawking, crap all over everything, fly away squawking) and that was the end of that. It is unfortunate, but it also is the way things have been here for a while. Now OP knows, I suppose, and everyone else has gotten a refresher.

Yet some threads, such as the current and long-running preferred stock thread, seem to be popular with a handful of participants and very little of the "seagull thing" is evident. I think the difference is discussing specific issues and trades as opposed to a more general "active investing is better than passive investing" theme. That always seems to bring in the seagulls.

Perhaps OP should start a thread detailing one of his current trades/holdings instead of asking others to share theirs first? Or at least open up with something less controversial than a dig at passive investing and passive investors which is always an invitation to seagulls on a forum dominated by so-called Boggle-Heads. That strategy seems to work for others as evidenced by successful, positive threads existing right now.

 

[ls99]

A most instructive thread to this totally pedestrian invested in Vanguard & TIAA. Really like Gumby's summary.

Had to refill popcorn and beer several times.

 

[brewer12345]

Perhaps OP should start a thread detailing one of his current trades/holdings instead of asking others to share theirs first?

That would be great.

 

[brucethebroker]

Hey, I've posted my thoughts on protein bars for everyone to see and challenge. I don't see why it should be any different here.

Hey guys, I just figgured out dryer sheets-don't throw protein bars into the mix!

 

[target2019]

+1 for Gumby's post.

 

[REWahoo]

+1 for Gumby's post.

Yes, he absolutely nailed it. "Investment Scam 101 "

 

[EastWest Gal]

To the OP: Not all of us are boys. Sexual terms, even misspelled, also don't belong on a financial forum. You came across very salesman like and full of bravado early in this thread, then added a touch of condescension. You have done well financially so far. Many others here (myself included) have done better and aren't impressed. For one thing, we got here by LBYM, saving and investing, not by buying 3 homes. $2 million in liquid assets isn't all that much considering the ongoing expenses of owning 3 homes, at least one or two of them in high property tax areas. Now you're thinking of adding a fourth. And you have two kids to put through college. I hope you plan on selling or renting out some of these properties. To count on day trading or other investment strategies to pay all your bills, put your kids through college and fund the rest of your life (which could be 40+ years, some of that with loss of cognitive skills) $2 million isn't enough.

Moving from NY to FL is a shock, especially for early teens. You take them away from their friends. They have to make new ones. Have you discussed these plans with your family? And told them they have to go UF instead of Columbia or MIT? I grew up being told I would be going to dad's alma mater. It wasn't exactly a hard sell, since I ended up living at home and going to UC Berkeley. And some of my high school friends went there as well.

I would actually like to learn more about stock picking but you lost me with the jargon and the insults. You can't expect many to trust or respect you behaving this way. Trust and respect are earned. I lost interest when you insulted someone who has been here 13 years, with 11,000 posts. You joined Friday. I agree with Gumby.

And by the way, while I was typing this, a moderator also chimed in his agreement with Gumby. So I'm moving on to other threads where I might actually learn something.

 

[ERD50]

+1 for Gumby's post.

Yes, he absolutely nailed it. "Investment Scam 101 "

Yep, nailed 'deader than a door nail', as Dickens would put it.

And for those unfamiliar with the origin as to why a door nail would be called 'dead' rather than a coffin nail:

The Origin of the Phrase "As Dead as a Doornail"

As with so many etymologies, we don’t know exactly why door nails were used in the phrase rather than something like coffin nails, but we have a reasonably good educated guess. Door nails were long used to strengthen the door. The person building or installing the door would hammer the nail all the way through the boards. On the other side, he would hammer the end flat, bending it so that the nail would be more secure in a process, called “clenching.” In doing so, the nail was rendered unusable for any other purpose. It would be difficult to remove and even more difficult to use again elsewhere. Thus, the bent nail was commonly called “dead” (not just to do with doors, but elsewhere where the nail was bent over and couldn’t be used again.)

I also think that beyond the alliteration of dead and door, would be the fact that it would be common for people to see these clenched/dead nails many times throughout their day.

-ERD50

 

[Fedup]

Maybe it's time to close this thread?

 

[Totoro]

Just as it is becoming interesting? The origin of common English expressions, that actually is neat

Speaking of which, anyone know incidentally where the expression "Beating a dead horse" originated from? Also interested in "Bait and switch" and "Catfishing".

 

[REWahoo]

Maybe it's time to close this thread?

Looks like the OP was escorted to the exit a day or two ago. No reason to shut down the playground now.

 

[Nemo2]

Also interested in "Bait and switch"

AFAIK it's simply a retail come on.

 

[ERD50]

Looks like the OP was escorted to the exit a day or two ago. No reason to shut down the playground now.

And he lasted what, 2 or 3 days?

Early Retirement & Financial Independence Community - View Profile: planman

Join Date: 03-24-2017​

Too bad I missed whatever post(s) that resulted in his long term fishing trip. I'm sure they would have been very [-]enlightening[/-] entertaining.

-ERD50

 

[Rustward]

#5 of 34 in the boho contest, where 10 are in the black and 24 are in the red.