*OT* My Dear Yak,
I am very fond of animals and will not "attack' you on the use of that fine animal for a namesake. The attack part well, I hope that is a trading strategy, not your future conduct on SI. Everyone should be reminded of how or what, it felt like to be young and naive, as this young person seems to be.
At your age, we moved into a recreational community. The community mostly consist of retired folks or those who planned to retire there in the future. Many were self-made millionaires, who served in WWII and invested wisely in the stockmarket. We have a community center where we gathered to talk in the evenings. My ears were glued to these folks talking about how and what they invested in. One of the true great learning experiences of my life, coupled with gardening tips.
I am now middle aged, still humbled by the knowledge and respect I have for these fine people. They know crap about daytrading or the stock du jouer. Quality and patient investments made them affluent. Even though I have been position trading for some time, I SHUT MY DAMN MOUTH AND LISTEN TO MY ELDERS WHEN THEY SPEAK!!!
Some friendly advice. Pretend you know nothing, pick off others know-how and skills. Many here have those qualities. A successful day in my view, is not how much I make (or lose), but how much I learn. When learning cease, time to stop trading, IMO. Noone can afford to be arrogant!
IPOs have a myth about them. How can you buy into them, when can you short them? You can short them right away, if you have an account like mine. As for buying into them? Well shucks, thanks to Mr. Pink, I had a large position in MALL early on. When it came to buying shares of uBID, most of us were shut out. You stated your account was peanuts at the time, just starting out! Comparatively, we on the MALL thread had lobsters in our accounts and got zip, zero. How did you manage to acquire shares of the uBID IPO? Many of us, who jumped in right away, with larger accounts got zilch? Moby Dick may confirm the fact, that many tried. This may say more about WitCapital, which may dispel another myth, you must have a large account to be on the ground floor of an IPO.
In pursuit of knowledge.
He may have been a communist or closet capitalist, but the words of Deng Xiaopang are wise ones. "If you close your windows to keep the flies from coming in, you also shut out a lot of good things". This wise thought lead me to shorting, believe it or not! Come to think of it, flies love TURDS! hehehehe
BTW, to recapture my youth, who is bogarting that peace pipe? Pass it over please! LOL!!!!! |
