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.

Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (53009)	9/7/2013 11:22:30 AM
From: Brumar89	2 Recommendations Recommended By Brian Sullivan sm1th Read Replies (1) \| Respond to of 85487

About people's attitudes to your losses ... I think most people think you were foolish and greedy and gambled away your retirement. That's sad and tragic, but you brought it on yourself. Worst, not that long ago you were enthusiastically posting about going to casinos and "fleecing drunks and amateurs" out of their paychecks. Don't you learn? Did a desire for an ego boost (see how smart I was) and the thrill of winning play a hand? The point of saving and investing should be to acquire assets that will give you an income to replace your salary when you retire. Dividend growth stocks are good. Subject 56874 Ditto is rental real estate. Since you're in real estate, that might be a good thing for you to put money in. Real estate takes time and work to sell so its harder to take it to the casino and gamble it away. As for helping your kids buy houses, you won't live for ever so eventually your kids would have gotten your assets and that can help them buy houses or pay down a mortgage. Another good thing about leaving them investment property is the tax basis gets written up to the date of death and not decreased by capital gains taxes. Even better than leaving property to your kids would be leaving some of it to your grandkids so they could get those educations you talk so much about. Proverbs 13:22 "A good man leave an inheritance for his children's children ..." But hey, if the government would just take care of everyone like liberals think it should, we wouldn't have to grow up and be responsible ourselves. One more thing. Pascal's wager was about faith in God, not swinging for the fences for tenbaggers on warrants.

To: koan who wrote (53009)	9/7/2013 12:36:27 PM
From: i-node	3 Recommendations Recommended By Brian Sullivan longnshort sm1th Respond to of 85487

>> There is a concept called Pascal's wager. In short, it means whenever you have a finite chance to gain infinity you take it. So that was what I was doing. So, I assume you're a big buyer of Powerball tickets. Finite wager - $2 gets you a 1:150,000,000 shot at what is essentially infinity. As usual, you misunderstand the game. Pascal's wager applied to circumstances where you are required to make a bet, one way or the other (in the original supposition, the wager had to do with whether or not there was a God). You weren't required to bet.

To: koan who wrote (53009)	9/10/2013 1:55:49 AM
From: RMF	Read Replies (2) \| Respond to of 85487

koan, the first thing I did was read the "replies" to that post. I haven't followed the conversations on these threads but it amazes me that you are SO hated. I don't see why people would be so critical of a fellow at 65 taking some risks. My Grandfather at 65 couldn't do much of anything so I would have been thrilled to see him "leveraging his money" and going for the moon in a reasonably intelligent way. The ONE thing that stands out to me is the thing about 1987. It seems that this is not the first time you've gotten into financial jeopardy.

To: koan who wrote (53009)	9/15/2013 9:15:01 PM
From: average joe	1 Recommendation Recommended By sm1th Respond to of 85487

I lost it. But the gamble I made was thought out and I don't regret it. I would like to know what type of research you did that was "thought out". The coal turned out to be low quality and worth ZERO. The company that found it carries it on their books as a liability not an asset. Even if it was high grade coal it was covered by a 100 metres of unconsolidated overburden in a swamp. It would have taken decades to hit the market plus it was in an area considered environmentally sensitive. If your mining research was "thought out" I can only question your thoughts on politics and philosophy. Investing in a stock without earnings is no different than playing poker. I do it all the time but like the casino suggests don't play with more than I can afford to lose. Don't see much being thought out in your critical review processes.