Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (109908)	12/27/2001 10:57:08 AM
From: limtex	Read Replies (1) \| Respond to of 152472

UF - I have been scratching my head wondering why with all this flood of good news that the stock has tanked as it has. Advisor on CNBC just lading NOK and saying what a commanding position they have in this market??????? Best, L

To: Uncle Frank who wrote (109908)	12/27/2001 11:52:26 AM
From: pcstel	Read Replies (1) \| Respond to of 152472

UF "The things that differentiate the Millionaire Next Door from his debtor neighbors are he spends less than he makes, and puts in a little time planning what to do with the surplus." Yes, That is correct.. But the Millionaire Next Door has generally acquired his wealth "a Penny at a Time". In other words. The concept of.. "I am going to spend less than I make" starts at a very early age.. Maybe in their "teens". In today's world of Generation "BUY NOW PAY LATER" Heck, I've got 10 Credit Cards in my wallet, that credit is burning a hole in my pocket, let's go spend it. The ability to run a family "balanced budget" (What the heck is that?), let alone a surplus IS something I would consider eccentric. I tell people all the time that almost anyone in the US can become a "millionaire".. All it takes is a little "self-control" and perseverance. During the last few months of the bull market. I had several people come to me and say.. "I want to get in the stock market". I told them they had no business in the market unless they could satisfy three basic requirements. 1. NO CONSUMER DEBT.. No Car Payments, No Credit Card Bills. (Home Mortgage is OK). They did not understand my point on this .. I simply told asked them this.. "If your bank offered you 21% double tax-free interest on a Bank CD. That was guaranteed.. (No risk) would you do it.. They all said.. Heck Ya!.. I said.. Well, that is what you are going to make if you pay off your Creadit Cards.. I told them if someone offered me 21% double tax free interest 100% Guaranteed with no risk.. I would never put a penny in the market again! 2. YOU MUST "OWN A HOME" 3. YOU MUST HAVE 1 YEARS WORTH OF SURVIVAL MONEY IN A BANK. PCSTEL

To: Uncle Frank who wrote (109908)	12/27/2001 3:41:41 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 152472

hi uf, The things that differentiate the Millionaire Next Door from his debtor neighbors are he spends less than he makes, and puts in a little time planning what to do with the surplus. If that's eccentric it might be time to redefine the term unfortunately, the behaviors described in TMND are indeed eccentric these days in the US. this is a country where revolving consumer debt servicing averages 21% of disposable income--this amount does not include mortgage debt. 21% is basically an all-time high for this figure. while that may be atypical for the kind of people that spend their days in stock chatrooms on the internet, it is quite a thing to behold--the national average is to pay 21 cents of every disposable income dollar to service credit card debt and the like (and that may mean nothing more than making the minimum monthly payments with miniscule contributions to principle). given this situation, i find it incredibly sad that a Fed governor would tell people to hold hands and buy an SUV. life imitates pathetic art. for people living on average incomes, freedom from revolving debt at a young age (or never having it in the first place) requires a rather unconventional approach to personal finances (although it may not seem unconventional to you personally depending on your age and how smart your parents were). except for the very rich, at some point, consumers will have to balance the intense materialism driven into their heads by our consumerist culture, against long-term financial and life goals. a conscious renunciation (or more moderately, moderation) of this consumerism means taking on an eccentric set of values in our society imo. unfortunately, the profligate nature of the American consumer has infected investors (who overvalue stock assets imo) and US corporations (who also carry record levels of debt) as well, so even if one is a PAW as per TMND, it may be more difficult than in the past to reach the hallowed ground of two commas, if expected returns still mean anything (imho).