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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (54435)	8/7/2006 8:50:18 PM
From: orkrious	Respond to of 116555

Comments appreciated. Great post. Very well said. I'd have to look it up the exact amount but I know I spend a few more than $2k annually on subscriptions. It is tough to quantify what each is worth, but as long as any one service helps me with my investments I am happy.

To: mishedlo who wrote (54435)	8/7/2006 9:23:09 PM
From: shades	Read Replies (1) \| Respond to of 116555

What is one good trade worth? Phil makes 40 a month per subscriber - his record is good so far from what I see - similar to dabum over at strictly buy and sell setups - about 30% a year - but you have to invest enormous amounts of time into it and be there day after day and do a lot of work at the trading terminal. Phil claims to have 7000 paid subscribers - he is not doing too shabbily eh? The internet has made his business Mish - many radio stations in larger markets took him off because the big wall street firms would spend big advertising money with them and ask phil to be taken off - he has commented on this often - but with internet streaming - phil subverted thier money and power. A trade that you would not come up with on your own? What is one good warning worth? The proof is in the pudding - I paid for phil for a short while because his free radio show was making some good calls - but its like dabum - once you learn thier "system" you can thrive on your own eh? Their is a huge market out there to tap into - and the winners will be richly rewarded - but in building the tower of babel - there are going to be fewer winners - the net has created a system of killing off the mediocre eh? If someone provides more good ideas than bad, what is it worth? What is it worth to try and find answers somewhere else? That is what I am trying to get out of tooearly - what would he be willing to pay for in financial matters - I used to spend large sums of money flying to exotic locales attending money shows, real estate clinics, investing gatherings - I don't spend that money flying around anymore. So what is something worth? This is a hard concept for some businesspeople to get - WORTH (as defined by their consumers) - I have seen people at craigslist and ebay try to sell everything from Holy Frying pans to sex to exercise bikes and some will starve trying to dictate to the consumers what price they WANT - not what price the consumer is willing to pay. Is a newsletter by Mish and Brian McAuley worth $99 a year? I have no doubt one can find the same information for free. People are lazy - do you make the info tasty and easy enough for them to consume fast and cheap? I know a local french guy - college educated - who runs a 100 dollar a meal restaurant - he is a world class chef - but he only lives a middle to upper middle class of life - I know another guy that owns three KFC's - flunked highschool and is a mega millionaire. How long would it take? Would it be worth the effort? Why do 7K pay phil 40 bucks a month but people here gripe about 200 for Faber? Some people might think 10% returns by Hussman (or whatever they are) make him a god. Many on diehards.org feel content if they will get 5% this year - yet those that bought the vanguard PM fund have made 30% YTD. Are they buying Chateau Brianne or fried chicken wings with colonels secret sauce? Other scoff at 10% even when he does it with low volatility beating the pants off the overall market. Dabum made 30% technical trading last year - was it much more risky? Someone managing billions gets to manage billions because he beats the market with low volatility. Buffet just took off his dollar short because he lost his arse eh? It is easy to say buy gold or silver or commodities and point to huge returns. HAHA as posted above - guilty as charged ! But if I am not mistaken, Rogers nearly went bankrupt at one point. Jesse Livermore - claimed by the wiz to be the greatest trader of all time - bankrupted I think 4 or 5 times - trump has failed a lot too eh? Colonel Sanders was in his 60's before he even really STARTED to make money eh? Tesla died a broke man eh? So you tell me what low volatility is worth? Buy treasury funds - they work til they don't eh? The more money you have I suspect the more money low volatility is worth? Ketchup Lady Heinz and Rush Limbaugh have huge amounts of money in tax free municipal bonds - Bush has huge amounts of wealth in ranch land and US treasuries. Why are we the only suckers trading volatile stocks? hehe In the end, something is worth whatever people will pay. I went into walmart last night - they wanted 1.79 a lb for bananas - I had just bought some at publix for 59 cent a lb 2 weeks back - extra low prices right? hehe The sheeple were buying lots of bananas at walmart. But to scoff at $99 a year or even $200 a month is silly unless one knows the performance or the volatility. I think your point is accurate - what kind of person is reading and what amount of money and time are they personally investing. Information is now free so $200 a month seems steep. But although information is free, gathering it oneself is time consuming. So what is one's time worth to have someone do it for you. Did you watch the video segments I posted Mish - they are very informative on the future of the web 3.0 - did you have time? They go into videoblogging and making money - worked for phil - I have not seen a lot of your videoblogs - do you have any? Essentially that is what we are talking about. The more effeciently and accurately someone gathers that info, the less time an individual has to spend attempting to do the same. Can you gather and process information as fast as Faber? With his track record? Right that is the rub - wether you are lazy or not or have the time or not. Elroy has a housekeeper - he doesn't have time for that mundane BS eh? Also wether you have the capital or not - Phil says unless you are trading a MINIMUM of 30K or so his methods will be wasted on you. Mish recently on slashdot there was an article on former IT people becoming traders - http://ask.slashdot.org/article.pl?sid=06/08/04/0229217 Moving from Tech to Trading? Posted by Cliff on Thursday August 03, @10:45PM from the coding-to-day-trading dept. DJ Paradox asks: "I've been working in IT for around 11 years now and more recently in IT Security within the Finance/Investment Bank arena. I'm looking into the prospects of a change to an entirely different field, working on the trading floor. I've read a few books on trading but most of them seem to be geared toward the Do-It-Yourself-Day-Trader instead of a professional career. I don't have a finance degree but have a permanent position with a good sized global bank and a manager who is willing to help. So I ask Slashdot if anyone has recommendations for courses, books, websites that I should cover to get a head start in this transition. Have any of you made a similar jump? Should I try to move towards a more trader-aligned tech group first and build relationships? Should I try to go for Equities or Futures & Options trading? What markets would be the best to start/learn with?" And I look at you and myself and Regli and so many others here on SI and see a LOT of people doing the exact same things in so many ways as the posts up in that article - former programmers moving into finance - how much weight can the finance apple cart bear? So what is that worth? For the masses that might be $99 a year (or less). For someone worth Billions that advice might be worth $200,000 a year. Vanguard charges around a 1% fee if you have over 500K to invest. I was once with a guy who called goldman sachs with 30 million to invest but wanted in on those hot IPO's during the 90's - they laughed at him - he was not used to being laughed at - 30 million was a lot in south ga - but short of several hundred million - you didn't get to play with the big boys - hehe. In the end whatever people will pay. What it is worth depends on performance and volatility and time. Time that someone may not have to do themselves. What is time worth? There are potentially as many answers as there are people on this planet. I stopped listening at most of the other financial gurus and radio finance guys and stayed with Phil because he was funny - no other reason really. People will pay more for entertainment than education - not logical - but often true. If you can get both birds with one stone - all the better. Am I worth $99 a year? Perhaps not for most posting here. Gilder and Trostky used this as one of many stepping stones to get into some of thos multi million dollar clients eh? - same for tradermike I believe too - you can't feed your family sitting here giving free stuff to tooearly who can't afford 200 for faber eh? The richest tribal king in an african village still lives in a hut eh? But a poor welfare mom in west palm or new york just had habitat for humanity build her a nice modern house eh? What about to the average joe who only has a couple extra hours a week and who would otherwise get info from CNBC? Is that worth $99 a year or $400 a year or something in between? Market research is important - many businesses fail because they don't have enough data and proceed on false assumptions. What is too early willing to pay to you or to anyone for any financial advice - is the limit the quality of the advice or tooearly's pocketbook? I don't go to the soup kitchen and eat slop when I want free food Mish - I go to the luxurious international mall food court and wait for princess to walk away from her nice meal she only took 2 bites out of - much better quality and in much nicer surroundings with much friendlier people - hehe. When I go to friends house to eat - there is a redneck friend with 2 cold beers and a hotdog - and there is a high society friend with filet mignon and a nice white wine - sometimes I want both - but if you are gunning for the filet mignon - why hang around the redneck? Why are you still here getting peanuts? How does your family eat?