I've only been on SI for a few months - so, that makes me a "new
boy". But, I've been buying stocks since the early 50's... Was a
NYSE Broker (licensed for both options & commodities) for 16+
years...and, I gotta tell ya - most of the people on these threads
I've been reading are (sorry about this) - SUCKERS! Yes, you
read it right...Many of these nice folks think that you can day-
trade, or short, or option your way to a fortune...well here's a flash -
they are DEAD WRONG! Any honest broker with at least 10 yrs.
experience will verify this - if pressed....quick and easy money is
the fools gold of the stock market. Oh sure, you can hit 'em a
lick for a while...then without warning, the game "seems to change"
and "the house" gets the chips back. Sometimes, as in the case
of Vic Neiderhoffer - in ONE DAY! Most of these folks have reg-
ular jobs and foolishly believe that they can outguess and out-
manuever the full-time pros. Most give no indication of
knowledge of how the specialists work or even the house traders
on NAZ. Those are big league fastballers. If these folks really
undertood the competition - there wouldn't be some many truly
stupid posts. Now then - hitting the right side on 50 calls will
generate some green - BUT, it's all short term gains...same for
shorting. If you don't think that the difference between long &
short term gains means anything - you have all ready read too far!!
The truth is boys and girls that: major positions that result in big,
long term cap gains- is THE ONLY WAY TO GO. If you crave
constant action (must bet every race) your bookie loves you and
the maket will eat you alive.
BUT, if you want to make some real green - then pull up a
chair. Taking $25,000 profit out of a position IS fun....and 50 to
$100,000 is sheer delight. How is it done??? That's the purpose
of this thread....simply - it's done with intelligent planning and
patience. You must have both. Of course, different investors
use different techniques. Can we explore them together???
If you agree - post away! What do we want to share?
- Stock selection technique
- General market approach
- Timing mechanics ( we gotta hold for 18 months)
- in General - methods, and even systems perhaps
- NOT : PREDICTIONS, TOUTS or FLAMES
I'll pose this for a start - what is your shopping list now, at what
prices and wfy Don |
