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PhytoExtractum Shop: Maeng Da Thai Kratom Leaf Powder

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InvisibleAsante
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The sad tale of my friend, the genius investor. * 3
    #26871607 - 08/09/20 01:12 PM (3 years, 6 months ago)



I Have this friend with a kickass job high up in the hierarchy, he made a good living.

Soon he became a millionaire and later on, other millions joined in on his game.

Years back I told him: "Dude, listen closely: Buy a 400oz gold bar for $250,000 and stick it in some guarded safe somewhere and forget you even had it; the markets are unstable and if all else fails you have HEDGED IN GOLD and can start over from there."

Prepostrous! An archaic relic!  Gold doesn't bring no dividend! Troglodyte advice!

I was like: "Dude.. money is gushing out over you right now but that might not last, the markets are unstable, this is about dropping a nest egg for you to start over if you have to. :blah: peak oil :blah: unsustainable economic growth :blah: the house of cards that is the financial system AND the stock exchange."

Buuuuh no you are overly cautious you gotta keep all chips on the table.

OK.

Flash forward a lil over a decade.

He lost the ginormous paying oil job - who'd a thunk?

He started a business and found that, not backed by his corp, he wasn't as convincing as he has been.

Investments failed and failed.

The mumti millions became a million. I hope for his family that its still a million.

The 400oz of gold stayed 400 oz of gold, but is now worth $800,000 -- and he never bought it.

I reminded him of the gold brick proposal I made years earlier.

"Gold doesn't go anywhere." he said.





My point exactly. It wouldnt have gone anywhere.



I invite you to learn from the sad tale of the genius investor.

Its a true story :sad:

The guy has MENSA level intelligence and the greed of the 99th percentile (the 1%), but currently has that much money no longer.


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Omnicyclion.org
higher knowledge starts here


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InvisibleAhab McBathsalts
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Re: The sad tale of my friend, the genius investor. [Re: Asante] * 3
    #26871631 - 08/09/20 01:29 PM (3 years, 6 months ago)

a basket of diversified investments will always be the most stable over the long term.


Stocks, bonds, gold and commodities, realestate, crypto, insurance and other non-correlated assets. If interest rates ever pick up (not sure they will) I'd even buy a small annuity.


Diversification is the only free lunch in town.


Gold has performed at like 8% annually over the last 50 years or something though. It's had some really healthy returns.


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"Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."


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Invisibledeadwk
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Re: The sad tale of my friend, the genius investor. [Re: Asante]
    #26871861 - 08/09/20 04:09 PM (3 years, 6 months ago)

What a tough lesson to learn. Greed is a powerful motivator for doing dumb things even if you're extremely smart.


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InvisibleAsante
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Re: The sad tale of my friend, the genius investor. [Re: Ahab McBathsalts]
    #26872677 - 08/10/20 03:41 AM (3 years, 6 months ago)

Quote:

Ahab McBathsalts said:

Diversification is the only free lunch in town.
.





Can we get a Hallelujer for that?


--------------------
Omnicyclion.org
higher knowledge starts here


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InvisibleAsante
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Re: The sad tale of my friend, the genius investor. [Re: deadwk]
    #26872679 - 08/10/20 03:44 AM (3 years, 6 months ago)

Quote:

deadwk said:
What a tough lesson to learn.




Know what irks me most? Their children. They had multi-millionaire parents and now that gold spoon is pulled from their mouths before they are even 10 years old.


--------------------
Omnicyclion.org
higher knowledge starts here


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OfflineManianFHS
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Re: The sad tale of my friend, the genius investor. [Re: Asante]
    #26873757 - 08/10/20 05:40 PM (3 years, 6 months ago)

Quote:

Asante said:
Quote:

deadwk said:
What a tough lesson to learn.




Know what irks me most? Their children. They had multi-millionaire parents and now that gold spoon is pulled from their mouths before they are even 10 years old.




who knows maybe they inherited some of the smarts that got their dad the money in the first place, and the sense to avoid his mistakes. If given a choice of the two id take intelligence over a million dollars 7 days a week


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notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "

ChrisWho said: "It's all about the journey, not the destination."


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InvisibleAsante
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Re: The sad tale of my friend, the genius investor. [Re: ManianFH]
    #26873860 - 08/10/20 06:37 PM (3 years, 6 months ago)

Oh they are SMART, buts SMART -and- a head start makes it that much easier.


--------------------
Omnicyclion.org
higher knowledge starts here


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Invisiblebudmanman
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Re: The sad tale of my friend, the genius investor. [Re: Asante]
    #26875488 - 08/11/20 04:54 PM (3 years, 6 months ago)

I was waiting for a work assignment and was re wiring computer wires in a class room to tidy things up, busy work since we had nothing to do but I guess it helped with tripping hazards.

Anyway the guy was telling us how he had worked there some 37 or what ever years and invested in the company stock all this time and now its worth a few million but he is waiting to retire because hed like to pad it up a little bit more and likes his job somewhat so doesn't mind being at work.

Fast forward 2 months, covid 19 is ramping the markets, I hope he didn't kill himself as I don't think he is no longer a multi millionaire anymore.


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Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal.

And I am mentally unstable.


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