Down goes the Dow

Yeah Flagpole isn't insufferable at all. And if we're comparing "who's up the most" then allow me to parade out my ESPP which is up almost 600%

Ghost of Igloi wrote:

Johannes wrote:

Not surprisingly, you avoided the question. Can we just agree that you pulled your previous reply out of your butt?

The essential passage in Graham’s The Intelligent Investor:

“The distinction between investment and speculation in common stocks has always been a useful one and its disappearance is a cause for concern. We have often said that Wall Street as an institution would be well advised to reinstate this distinction and to emphasize it in all its dealings with the public. Otherwise the stock exchanges may some day be blamed for heavy speculative losses, which those who suffered them had not been properly warned against.”

So in Benjamin Graham’s view you would not be an intelligent investor. On that point Troll, I agree with Graham, who by the way was one of Warren Buffett’s mentors.

Completely irrelevant to my question about your post. This is the equivalent of you waving the white flag of surrender.

I would be happy to wave the white flag if that would end your obsession with trolling me.

Flagpole wrote:

Ghost of Igloi wrote:

Hey, I’ll trade baby for racist. ?

Well, I'll leave my calling you out on that other thread. You have some serious personal growth to attend to.

Oh, snap!

Wouldn’t you know it. The two most obnoxious posters on LRC. Talk about personal growth issues.

Wow, you’re really that upset that I stated something like,, “it’s sad that no ones beating flagpole here and he just buys and hold.”

Really? You’re really upset about this? You’re really making Seattle look bad. No wonder conservatives think liberals have a wedgie 24/7 with getting so upset by a comment like that.

Geez. Of course I don’t know for sure if Flagpole is actually beating everyone. Would I really know that? I made that comment as this whole thread was started based on Klondike declaring that market would start tanking several years ago, and he was dead wrong. And at the beginning of this thread, Flagpole was explaining his investing strategy of living below his means and continuing to invest, invest and invest and not market time at all. That strategy has worked out brilliantly all of this time and he has reached his financial freedom.

Even 6 years later since this thread started, (I think it’s 6 years ago. I could be off, but I don’t want to click the back button and lose everything I’ve typed so far), people on this thread are still talking about marketing timing and buy/sell very frequently and so many have been wrong again and again.

So, that’s why I made my comment that it’s hilarious that this thread is still going on and everyone continues to talk in circles as people like Flagpole keep trucking along and growing his net worth as many on this thread are still thinking they can beat the market and they aren’t.

Like I’ve mentioned earlier, I don’t personally invest like Flagpole except for the maxed out 401k plus additional 10% after-tax. Majority of my money though is outside my 401k in Various individual stocks and some ETFs that I hold and rebalance. I don’t go in and out of the market though. Just rebalance.

Also, my comment isn’t anything extraordinary. Its true that most investors are terrible. Really terrible bc human emotions get in the way where people do the opposite of buy low sell high. People start to get more confident in investing more as market goes higher. People sell when market is tanking. I definitely fall for this trap as well at times.

So most people should invest the way Flagpole does it by living below your means and invest the rest continuously month after month and will definitely reach financial freedom as the market always goes up in time. Always does.

But I definitely invest in individual stocks as it is very tempting and I have so far done well, but not always. Especially in my 20s where I have made 401k loans which I should’ve never done. I bought a house with it which has done well, but I think in the long run, having more in 401k would’ve been better.

Anyways, you all do what you want to do. We’re all different and in different situations.

But for me, being retired at early 50s comfortably is a great financial incentive that I’d like to achieved and it’s doable. All it takes is work up to get pretty good income, watch your spendings, and invest the rest.

Ghost of Igloi wrote:

Talk about personal growth issues.

Sure. Where do you want to start?

Go, Pats!

Ghost of Igloi wrote:

I would be happy to wave the white flag if that would end your obsession with trolling me.

You said my post was not correct and I asked you to explain what was wrong with it. That does not constitute anyone being obsessed with you. It may actually be indicative of you being obsessed with me since you felt the need to tell a lie about my post. You, sir, are the troll here.

Do you have issues with reading comprehension? I told you, timing of the collapse is not relevant like 1929, like 2000, like 2007. It never does when a bubble pops and wipes out a decade or more of gains. But you are just like most investors, you believe you’ll be the one to avoid the carnage. Now move on Troll.

Contrarian indicator alert:

A client just called and told me his teenaged son wants to start swing trading so dad's going to set up a brokerage account for him. Huge gains, the kid says he can make.

Ghost of Igloi wrote:

Do you have issues with reading comprehension? I told you, timing of the collapse is not relevant like 1929, like 2000, like 2007. It never does when a bubble pops and wipes out a decade or more of gains. But you are just like most investors, you believe you’ll be the one to avoid the carnage. Now move on Troll.

Of course the timing matters. What investor would not want to know when the market is going to collapse? To suggest otherwise is ignorant.

agip wrote:

Contrarian indicator alert:

A client just called and told me his teenaged son wants to start swing trading so dad's going to set up a brokerage account for him. Huge gains, the kid says he can make.

Thing is, he's kinda right. How could you NOT make solid gains if you were swing trading properly in this market.

Swaglord_the_real_one_1_one_1 wrote:

agip wrote:

Contrarian indicator alert:

A client just called and told me his teenaged son wants to start swing trading so dad's going to set up a brokerage account for him. Huge gains, the kid says he can make.

Thing is, he's kinda right. How could you NOT make solid gains if you were swing trading properly in this market.

well the point is that when teenagers are able to convince their parents that swing trading is a good use of money...there is way too much money sloshing around and it will most likely all try to exit at once. At some point.

Johannes wrote:

Ghost of Igloi wrote:

Do you have issues with reading comprehension? I told you, timing of the collapse is not relevant like 1929, like 2000, like 2007. It never does when a bubble pops and wipes out a decade or more of gains. But you are just like most investors, you believe you’ll be the one to avoid the carnage. Now move on Troll.

Of course the timing matters. What investor would not want to know when the market is going to collapse? To suggest otherwise is ignorant.

Obvious and not pertinent to the point.

agip wrote:

Swaglord_the_real_one_1_one_1 wrote:

Thing is, he's kinda right. How could you NOT make solid gains if you were swing trading properly in this market.

well the point is that when teenagers are able to convince their parents that swing trading is a good use of money...there is way too much money sloshing around and it will most likely all try to exit at once. At some point.

I'm going to help, because fact is, I'd love to have this kid learn not to day trade when he's 15 and only has a few hundred dollars to lose...rather than learn at 35 when he has tens of thousands to lose.

I wish I had learned that lesson earlier. I'd be so much richer if I had just put everything in a SP500 fund and walked away for 30 years. Instead I tried to brain my way to better returns. Cost me a ton.

I wonder if ARK will be the Janus of this ramp up.

https://www.barchart.com/etfs-funds/quotes/QQQ/technical-chart?plot=LINE&volume=total&data=DO&density=YTD&pricesOn=1&asPctChange=1&logscale=0&startDate=2020-01-01&sym=QQQ&grid=1&height=500&studyheight=100&overlay1=ARKG&axis1=false&overlay2=ARKK&axis2=false&overlay3=ARKW&axis3=false&isComparison=1

https://www.barchart.com/etfs-funds/quotes/JAGTX/technical-chart?plot=LINE&volume=0&data=DO&density=M&pricesOn=1&asPctChange=1&logscale=0&startDate=1998-12-31&endDate=2001-12-31&daterange=specific&sym=JAGTX&grid=1&height=500&studyheight=100&overlay1=QQQ&axis1=false&axis2=false&axis3=false&isComparison=1

Ghost of Igloi wrote:

Wouldn’t you know it. The two most obnoxious posters on LRC. Talk about personal growth issues.

Oh, the irony!