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Thread: Stocks

  1. #301
    Poor is a mentality. Broke is a condition.

    I agree with your views on credit and debt.

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  3. #302
    Quote Originally Posted by Iceaxe View Post
    ..<snip>... people are not poor because they have no money, people are poor because they don't know how to manage money.YMMV
    This is a very sage and true statement. I guess it's the same in the USA, but here we have unemployed families with no money to feed their kids, but they have huge TVs, big cars and mobile phone contracts with all the extras. (Our welfare state is too generous; it's cheaper for them to be on the dole than get a job).

    Rob
    (disgruntled of England-shire)

  4. #303
    Or the other way I often look at it is people are not poor because they have no money, people are poor because they don't know how to manage money.
    I agree.

    The exception is medical cost. A lot of people go bankrupt because of medical cost.

    A lot of people don't know how to manage money. They don't understand interest rates. Some businesses count on this. A few years ago I was in a car dealership and they kept quoting the monthly payment I could get, rather than the price of the car.

  5. #304
    Quote Originally Posted by Scott P View Post
    A few years ago I was in a car dealership and they kept quoting the monthly payment I could get, rather than the price of the car.
    A friend of mine manages a car dealership, he always told me the biggest mistake a person can make when buying a car is to tell the dealership what you can afford a month. He said he can make the payment work for anything, of course you might be on a 7 or 9 year loan and will be up-side-down at some point.

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  7. #305
    Quote Originally Posted by Scott P View Post
    The exception is medical cost. A lot of people go bankrupt because of medical cost.
    Going bankrupt doesn't make you poor.... it means you are broke at the moment. As stated above "Poor is a mentality. Broke is a condition".

    Sometimes claiming bankruptcy actually makes good business sense and is just part of good money management. You always hear the liberals yapping about Trump going bankrupt (something like 5 times on just over 500 companies). If you actually study the bankruptcies it actually made the best financial sense on those companies.

    If you study Billionaires you will discover many of them have multiple bankruptcies in their past. It is mostly to do with the fact they are risk takers and will keep attempting risky business ventures until one takes off. But just about everyone who is a billionaire understands money management extremely well.

    Anyhoo.... food for thought

  8. #306
    Quote Originally Posted by Iceaxe View Post
    Going bankrupt doesn't make you poor.... it means you are broke at the moment. As stated above "Poor is a mentality. Broke is a condition".

    Sometimes claiming bankruptcy actually makes good business sense and is just part of good money management. You always hear the liberals yapping about Trump going bankrupt (something like 5 times on just over 500 companies). If you actually study the bankruptcies it actually made the best financial sense on those companies.

    If you study Billionaires you will discover many of them have multiple bankruptcies in their past. It is mostly to do with the fact they are risk takers and will keep attempting risky business ventures until one takes off. But just about everyone who is a billionaire understands money management extremely well.

    Anyhoo.... food for thought
    Yes, but that's different from medical bankruptcy. If you go bankrupt for medical reasons, you lose your house and everything else as well.
    Utah is a very special and unique place. There is no where else like it on earth. Please take care of it and keep the remaining wild areas in pristine condition. The world will be a better place if you do.

  9. Likes rockgremlin liked this post
  10. #307
    Anyway, speaking of interest and money management, I checked the most recent statement from one of my credit cards. We always pay ours off 100% every month. They do now tell you how long it will pay the card off if you make only the minimum payment.

    For last month's credit card expenditures, which were only about half that of the previous month, it would take 18 years to pay the card off even if we didn't buy one thing after that month! That's with a statement that is quite a bit less than our average expenditures!

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    Utah is a very special and unique place. There is no where else like it on earth. Please take care of it and keep the remaining wild areas in pristine condition. The world will be a better place if you do.

  11. #308
    Quote Originally Posted by Scott P View Post
    Yes, but that's different from medical bankruptcy. If you go bankrupt for medical reasons, you lose your house and everything else as well.
    There are ways around it.... I know of at least two couples who got divorce (at least on paper) to avoided similar situations.... good money management or at least hire a good professional.


  12. #309
    It's like playing with snakes. All it takes is one slip up and you don't pay it off each month completely and you're in trouble. 18 years to pay off $4500 is crazy. It's no wonder people have so much trouble with money. it's way too easy to fall off the wagon.

  13. #310
    Quote Originally Posted by rockgremlin View Post
    So you can day trade for free?

    How the heck is that possible? TD charges like ~ $7 bucks per trade...and it used to be $10. Got to the point where I stopped trading altogether cuz TD was just juicing me. Bastards.
    @DiscGo
    Do as you would be done by.

  14. #311
    @rockgremlin


    "Free trading means that Robinhood Financial receives $0 commissions on self-directed individual cash or margin brokerage accounts that trade U.S. listed securities placed online. Keep in mind, relevant SEC & FINRA fees may apply."

    https://share.robinhood.com/danb377
    "My heart shall cry out for Moab..." Isaiah 15:5

  15. #312
    Gary Cohn's "**** this!" face...

    https://s3.yimg.com/lo/api/res/1.2/_...86c4defa5e94d1

    Enjoy the Stable Genuis' Market tomorrow.

  16. #313
    Quote Originally Posted by DirkHammergate View Post
    Gary Cohn's "**** this!" face...

    https://s3.yimg.com/lo/api/res/1.2/_...86c4defa5e94d1

    Enjoy the Stable Genuis' Market tomorrow.
    A couple things I've notice about Trump.... He goes through staff at a pretty high rate of speed, but I've also noticed he has a good track record of replacing the departed with someone even better.

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  18. #314
    Quote Originally Posted by Iceaxe View Post
    A couple things I've notice about Trump.... He goes through staff at a pretty high rate of speed, but I've also noticed he has a good track record of replacing the departed with someone even better.
    It's not sustainable. Nobody has really caught my eye as a replacement, maybe John Kelly as he winced back stage during the Charlottesville presser meltdown. At this point Dirk has a shot at a Whitehouse position, I'm submitting my resume as I speak.

  19. #315
    Quote Originally Posted by DirkHammergate View Post
    It's not sustainable. Nobody has really caught my eye as a replacement, maybe John Kelly as he winced back stage during the Charlottesville presser meltdown. At this point Dirk has a shot at a Whitehouse position, I'm submitting my resume as I speak.
    So I will metaphorically ask.... if a tree falls in the forest when nobody is there, does it make a sound?

  20. #316
    Quote Originally Posted by DirkHammergate View Post
    It's not sustainable.
    We shall see... so far Trump has done pretty dang well at accomplishing what many said was impossible, including becoming President of the United States :-)

    I'm willing to bet my stocks are worth more next month then they are this month.

    #MAGA

  21. #317
    Quote Originally Posted by Iceaxe View Post
    We shall see... so far Trump has done pretty dang well at accomplishing what many said was impossible, including becoming President of the United States :-)

    I'm willing to bet my stocks are worth more next month then they are this month.

    #MAGA
    I actually hope so for you, a lot of us have a lot to lose economically over the tariff proposal. Tariffs never, ever, ever go well and I'm the "liberal" in the room. If China decides to war over the tariff proposal, good luck. China doesn't have a short term plan, it's a hundred year plan to secure the old Silk Road ports and trade.

  22. #318
    Quote Originally Posted by DirkHammergate View Post
    I actually hope so for you, a lot of us have a lot to lose economically over the tariff proposal.
    I'm willing to bet few on this forum will feel the impact of a steel tariff more than me. I'm a structural engineer, which means I design really big shit made out of steel.

    It's impossible to win a trade war against the US, the problem is what will the colateral damage be.

    But I'm willing to bet this is just like everything else Trump does. The guy just tossed down a marker which gives him a solid anchor from which to bargain from.

    For example, Trump did the exact same thing with NATO to get the other members to step up and pay their share.

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  24. #319
    Quote Originally Posted by Iceaxe View Post
    A couple things I've notice about Trump.... He goes through staff at a pretty high rate of speed, but I've also noticed he has a good track record of replacing the departed with someone even better.
    I think to be successful with Trump, all one has to do is show up, do your job and kick ass...otherwise, he'll shitcan ya. I like that way he operates...can't cut it, get the hell out.
    Hey, hey, hey, hey! It was the DNA
    Hey, hey, hey, hey...that made me this way.

  25. #320
    Quote Originally Posted by twotimer View Post
    I think to be successful with Trump, all one has to do is show up, do your job and kick ass...otherwise, he'll shitcan ya. I like that way he operates...can't cut it, get the hell out.
    I agree... if you're dead wood your gone, if you're not pulling in the same direction you're gone, if you're a drama queen you're gone, if you're not a team player you're gone, if you're not winning you're gone.

    I have no problem with that....


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