Author Topic: DOW broke 17,000  (Read 65113 times)

Offline Smurf Hunter

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Re: DOW broke 17,000
« Reply #270 on: September 12, 2017, 02:58:33 PM »
But that involves reading the prospectus and quarterly reports and doing homework on the manager(s) so it likely won't be a popular strategy.


sounds like a fantasy football draft

Offline FreeLancer

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Re: DOW broke 17,000
« Reply #271 on: September 12, 2017, 11:53:51 PM »
Freelancer - curious how you classify your bitcoin holdings?  Similar to any of the index funds held for 25 years?  "Cash"/bullion?  Doesn't matter?

I classify it as the type of asset you'd only risk 1-2% of your net worth on and just hold it for the next 10 years.
23:57:30

Offline David in MN

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Re: DOW broke 17,000
« Reply #272 on: September 13, 2017, 06:59:12 AM »
A pile of dollars, euros, yen, yuan, Swiss franks, etc. would be savings. A pile of Bitcoin is an asset and an investment because it's... a... currency.
"See the problem with statements like that is it scares off a lot of good people who deserve the investment returns that are only available in the stock market." Freelancer

Offline Smurf Hunter

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Re: DOW broke 17,000
« Reply #273 on: September 13, 2017, 12:03:12 PM »
A pile of dollars, euros, yen, yuan, Swiss franks, etc. would be savings. A pile of Bitcoin is an asset and an investment because it's... a... currency.

please paraphrase

All you listed are currencies of a sort.  If you need to use a given currency for daily subsistence (paying rent, buying food), an accumulation of that currency is savings in my simple mind.

If I own a bit coin, and need to buy a month of groceries at CostCo, that's not immediately useful before I liquidate and convert to USD.

Offline bigbear

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Re: DOW broke 17,000
« Reply #274 on: September 13, 2017, 12:35:34 PM »
I appreciate it but I'm still done. After years of posting my own strategies and thoughts in an effort to help others it's a bit irritating to be told that my ideas are literally preventing people from achieving the results they rightly deserve. That's kind of a big statement and it will stick with me.

There are other groups I am part of who more openly discuss investing. I can go there. If the consensus around here is that educating oneself to better invest is a waste of time and one can do the same with index funds, that's fine with me. Hell, I own a few that fit very specific metrics and offer something unique to my portfolio. But that involves reading the prospectus and quarterly reports and doing homework on the manager(s) so it likely won't be a popular strategy.

I've always felt that wealth building is an integral part of survival. But it's something I can do outside this forum. And that's fine.

My thoughts:  Agreed that it's an integral part of survival.  Most here seem to like index funds that's a completely legit thought process.  Some like to/have the ability to go a bit further.  I would hope readers know who they are.  They are reading some random dudes thoughts on the internet.  For all I know you're Sue from Zambia offering investment advice based results of chicken sacrifices to a fetish.

I know I'm not the arbitrage guy.  I'm not the options trader.  I'm not a day trader.  I'm not a swing trader.  I have no system other than try not to follow my emotions.  The shortest I've held a stock was about 6 months.  The longest has been about 10 years (pretty my stock ownership lifetime - KMR/KMI).  I especially like hearing others thought on trends, sector expectations, etc... 

What sites/forums do you use for investment talk?  Ihub?

I classify it as the type of asset you'd only risk 1-2% of your net worth on and just hold it for the next 10 years.

That's how I would classify it too.  Essentially a high risk/high reward like a long term call or put option.

please paraphrase

All you listed are currencies of a sort.  If you need to use a given currency for daily subsistence (paying rent, buying food), an accumulation of that currency is savings in my simple mind.

If I own a bit coin, and need to buy a month of groceries at CostCo, that's not immediately useful before I liquidate and convert to USD.

He was being sarcastic pointing out an inconsistency between bitcoin's desire to be considered a currency and the reality of how people who own bitcoin view in their portfolio.
"The saddest aspect of life right now is that science gathers knowledge faster than society gathers wisdom."
- Isaac Asimov

Offline David in MN

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Re: DOW broke 17,000
« Reply #275 on: September 13, 2017, 12:38:24 PM »
please paraphrase

All you listed are currencies of a sort.  If you need to use a given currency for daily subsistence (paying rent, buying food), an accumulation of that currency is savings in my simple mind.

If I own a bit coin, and need to buy a month of groceries at CostCo, that's not immediately useful before I liquidate and convert to USD.

True. But you could say the same thing about any foreign currency. My point was to show how Bitcoin is perceived as both a currency and an investment, but never savings which is the only thing held currency can be. Nobody calls their bank account an investment.
"See the problem with statements like that is it scares off a lot of good people who deserve the investment returns that are only available in the stock market." Freelancer