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OutsideOfMyMind
LSD Self Administrative Director



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What would YOU do in my situation? ($2k-$3k to invest)
#27411050 - 08/01/21 06:16 PM (2 years, 5 months ago) |
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I want to invest at least $2,000 but no more than about $3,000. Maybe a little more than $3k. I have about 10k in the bank right now. I'm 35. I'm going to be moving into my parents place and paying them $200/month rent. I plan to go back to school and I don't want to take out any loans. I plan to apply for as many scholarships as I can. I want to study biochemistry, do a phd hopefully, and work with psychedelic drugs in research.
Right now I'm reading Stock Investing for Dummies and I still need to read the sticky thread on learning about stocks. I haven't had this kind of money since 2008 before the recession. I should have invested some of the money back then, I never thought of it and I fucked it all up instead. But NOW I'm going to learn and start investing because my life is no joke and I'm already nearly halfway through the best time of life.
Also, I've heard that the American economy is practically all dried up and there's no more room for any real growth like there was in the 90s and early 2000s. I've heard that a lot of top investors are investing in Indian (and other middle east countries) and Chinese companies because there's still a lot of room for growth there and those countries are emerging. Is it safe to invest in these countries companies and do any of you have experience trading foreign companies?
Edited by OutsideOfMyMind (08/01/21 06:17 PM)
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Ahab McBathsalts
OTD Windmill Administrator




Registered: 11/25/02
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: OutsideOfMyMind]
#27411063 - 08/01/21 06:24 PM (2 years, 5 months ago) |
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Time frame is important when investing. If you planning on using that money for school within 2 years or so, you are better to just keep it in cash, or buy a 18 month Certificate of deposit or something.
-------------------- "Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."
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OutsideOfMyMind
LSD Self Administrative Director



Registered: 10/05/20
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Ahab McBathsalts]
#27411067 - 08/01/21 06:28 PM (2 years, 5 months ago) |
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What about day trading? I won't be able to go to school the first year because I need to wait in order to pay in-state tuition. I'll go to a junior college first. So I'm looking at at least three years before I go to university.
Edited by OutsideOfMyMind (08/01/21 07:11 PM)
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Ahab McBathsalts
OTD Windmill Administrator




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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: OutsideOfMyMind] 1
#27411135 - 08/01/21 07:30 PM (2 years, 5 months ago) |
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98% of day traders lose money. You are better off putting it on the roulette wheel.
-------------------- "Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."
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OutsideOfMyMind
LSD Self Administrative Director



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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Ahab McBathsalts]
#27411139 - 08/01/21 07:37 PM (2 years, 5 months ago) |
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So there's really nothing that I can do except put it in an account and fucking stare at it? Cod's have really low return rates. So all that talk about how you only need one or $2,000 to get started in stocks is a bunch of bullshit?
Edited by OutsideOfMyMind (08/01/21 07:38 PM)
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Hikeadellic
Fungi Fan



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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: OutsideOfMyMind]
#27411153 - 08/01/21 07:46 PM (2 years, 5 months ago) |
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If you want to day trade it can be profitable but you need to understand that there are risks involved.
If you don't have any experience trading and do not want to lose the money, you might want to try practicing on paper trades first.
If you are ok at math, you can check out options trading. Options add additional risk/reward.
It all depends on your personal risk tolerance
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Ahab McBathsalts
OTD Windmill Administrator




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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: OutsideOfMyMind]
#27411154 - 08/01/21 07:46 PM (2 years, 5 months ago) |
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What are you expected rate of return for that?
The S&P500 has averaged about 12% annually. On $2,000 that's like $240 in 12 months. You might as well pick up two shifts delivering pizza.
If you want to blow it on crypto, meme or penny stocks and swing for the fences, you absolutely can, but you need to have realistic expectations especially when you plan on using the money in the immediate future.
-------------------- "Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."
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OutsideOfMyMind
LSD Self Administrative Director



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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Ahab McBathsalts]
#27411162 - 08/01/21 07:59 PM (2 years, 5 months ago) |
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All of these would return me the same amount I would get putting it in a cod.
I guess I'll just focus on going to school and working yay fun. Great society we live in.
Edited by OutsideOfMyMind (08/01/21 07:59 PM)
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NothingsChanged
Striving for Excellence


Registered: 05/28/11
Posts: 10,144
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: OutsideOfMyMind]
#27411250 - 08/01/21 08:39 PM (2 years, 5 months ago) |
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If you hurry you may be able to get in on this? May be to late for quick returns? I got in with 3 grand last year (couple companies), but i'm in for the long haul.
https://psilocybinalpha.com/psilocybin-stocks-shroom-stocks
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Grungeman17



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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: NothingsChanged]
#27411330 - 08/01/21 09:49 PM (2 years, 5 months ago) |
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Invest in sports cards, buy at card shows sell online and hunt retail boxes at stores, get in circles and groups about it there's major jack to be made. Just like anything else Do Diligence is the most important thing. Betting mma fights really having to watch ot and get into it knowing what your doing but you can make a 100$ 3 fight parlay pay theee fuck out...if you pick the right card and the right bets, more research... If you ever want to straight gamble craps offers the best house edges typically in a casio with more do Diligence... buy some cacti seeds and get them in the dirt and going some seed grown Australian strains fetch over 200 a plant.
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Hikeadellic
Fungi Fan



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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Grungeman17]
#27411334 - 08/01/21 09:56 PM (2 years, 5 months ago) |
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Maybe try flipping items like appliances or cars?
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Ahab McBathsalts
OTD Windmill Administrator




Registered: 11/25/02
Posts: 35,107
Loc: Wind Turbine, AB
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: OutsideOfMyMind] 2
#27411471 - 08/02/21 02:39 AM (2 years, 5 months ago) |
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Quote:
NothingsChanged said: If you hurry you may be able to get in on this? May be to late for quick returns? I got in with 3 grand last year (couple companies), but i'm in for the long haul.
https://psilocybinalpha.com/psilocybin-stocks-shroom-stocks
I'm in some shroom stocks, but they make up a very small chunk of my overall portfolio.
Quote:
OutsideOfMyMind said: All of these would return me the same amount I would get putting it in a cod.
I guess I'll just focus on going to school and working yay fun. Great society we live in.
Your biggest wealth building tool is going to be your income until you get a networth of over $1-3million in investable assets. Investing in your education and career like you are planning is going to be the best return on investment.
-------------------- "Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."
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OutsideOfMyMind
LSD Self Administrative Director



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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Ahab McBathsalts]
#27411997 - 08/02/21 03:13 PM (2 years, 5 months ago) |
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Thanks.
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badchad
Mad Scientist

Registered: 03/02/05
Posts: 13,372
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: OutsideOfMyMind]
#27412089 - 08/02/21 04:23 PM (2 years, 5 months ago) |
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I think some good advice has been given. I'd encourage you to think about your goals. Are you interested in long term investing/retirement? or something else. For the latter, it's important to keep in mind traditional investing returns which hover around %10.
Ideally, you want to establish a steady income stream and have regular investments, often this comes in the form of a 401k or some other retirement plan.
My only other advice is to consider your time horizons. The PhD route is going to take you (roughly) 4 years of undergad, about 5 of grad school, and another 3-5 of a post doc before you make any substantial money. This is OK, just remember to start investing early since your schooling may put you a bit behind.
-------------------- ...the whole experience is (and is as) a profound piece of knowledge. It is an indellible experience; it is forever known. I have known myself in a way I doubt I would have ever occurred except as it did. Smith, P. Bull. Menninger Clinic (1959) 23:20-27; p. 27. ...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely. Osmond, H. Annals, NY Acad Science (1957) 66:418-434; p.436
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OutsideOfMyMind
LSD Self Administrative Director



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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: badchad]
#27412122 - 08/02/21 05:00 PM (2 years, 5 months ago) |
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Are there any significant options for long-term investing with the kind of money I have?
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Ahab McBathsalts
OTD Windmill Administrator




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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: OutsideOfMyMind] 1
#27412174 - 08/02/21 05:35 PM (2 years, 5 months ago) |
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There is nothing wrong with buying a total market ETF, S&P500, Nasdaq QQQ or something similar. It's probably the best move an individual investor can make to simply get the market return with low fees.
Or buy a single stock and see how it goes. The biggest thing when you first start to invest is finding your risk tolerance and what will let you sleep at night. If you are fine with losing a third your investment in like 21 days, that happened in March 2020 with the major indexes. It was fucking chaos. But sharp crashes will happen once a decade or so. But in the next 18 months, the S&P has almost doubled.
If you are in individual stocks it can be even sharper or faster. Small cap, penny stocks can lose half their value in a day. GPN was down 11% today. That's a big company 50Billion market cap. It can happen where ever you park your money. Shit like utilites, Verizon doesn't usually have much capital appreciation, but can give you a 4-5% dividend yield. It doesn't move much and is easy to stomach when you are starting out.
https://finviz.com/map.ashx
Sniff around and do some reading on what companies do and what you think future trends are unappreciated or undervalued. I think that electrification, infrastructure and renewables will lead to a major boom in commodities and have been putting some money to work in miners, but who knows.
Investing is a lot like going to the gym. The longer and more regular you contribute the better the gains. The individual program you follow is kind of secondary to consistency.
You don't know what single stock is going to hit and payout big. You just kind of try a few things and stay with it. Put your best ideas out there and see what happens.
Risk is return and return is risk. If you want a sure thing, go to work. If you want to get rich quick, slang dope on the street or hit the dice.
-------------------- "Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."
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Enkidu
"No-Such-Person"


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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Ahab McBathsalts]
#27412422 - 08/02/21 09:03 PM (2 years, 5 months ago) |
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Trading and investing are slightly different
You can do either, or both
Depending on how committed you are, you can learn to trade if you want to.
If you want to invest, you need to simply find companies that you think will be very bullish and important in the future
They have a few India etf's, but investing or trading or swing trading in a few select companies can potentially be more rewarding but riskier
Rare earth, EV sector, semiconductors, AI, genomics, potentially bullish sectors for the future.
Short term vs long term and timing as mentioned are huge.
Market has been choppy though continually climbing. Lots going on in economy etc. Influencing the market.
My advice would be take some time to research and learn. Watch videos on investing and trading and videos discussing market and market conditions.
I'd leave the books for now and get current relative information going on right now.
If you choose to invest, then get in stocks and sectors you believe in. Maybe DCA into crypto as well.
What's the time frame on your investment? Because investing now carries the risk that if you want the money immediately then you may have to take a loss to get it. That potential is there.
Being able to read the market and a chart can help you better see what's going on giving you an advantage.
If you are good with not seeing this money, I'd invest it and start learning to trade and practice trading with a paper money account.
Buy some stocks and some crypto, small starter position, then slowly add to them as long term investments while you learn.
Safest place to put money is in etf's as opposed to choosing your own stocks, but it's all risk vs reward and the risk your willing to take should depend on your willingness to learn and lose and the level of knowledge you have on what you're doing.
Maybe start with investing $500 and save the rest just to get a feel for things for a while
Your strategy to investing and trading should come down to your goal, timeframe, and how hands on you're willing to be
-------------------- Within You , Without You
      
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maui
Registered: 11/20/14
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: OutsideOfMyMind]
#27427278 - 08/13/21 08:45 PM (2 years, 5 months ago) |
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removed
Edited by maui (08/13/21 08:50 PM)
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Saint Myco
Stranger
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: maui]
#27465690 - 09/12/21 02:29 PM (2 years, 4 months ago) |
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Buy one SPY call option 560 October 13
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Loaded Shaman
Psychophysiologist



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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: OutsideOfMyMind]
#27468805 - 09/15/21 12:24 AM (2 years, 4 months ago) |
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25% PMs 25% Stocks 25% Crypto 25% Liquid
--------------------
  "Real knowledge is to know the extent of one’s ignorance." — Confucius
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OutsideOfMyMind
LSD Self Administrative Director



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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Loaded Shaman] 1
#27471077 - 09/16/21 08:50 PM (2 years, 4 months ago) |
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Ok so I ended up getting rid of my ugly [older] car, moved, and then bought myself a bomb ass car with $7,750. Now I have $6k in the banki.
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maui
Registered: 11/20/14
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Loaded Shaman]
#27638541 - 01/30/22 11:30 AM (1 year, 11 months ago) |
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BTFD
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: OutsideOfMyMind]
#27638709 - 01/30/22 02:58 PM (1 year, 11 months ago) |
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Quote:
OutsideOfMyMind said: Ok so I ended up getting rid of my ugly [older] car, moved, and then bought myself a bomb ass car with $7,750. Now I have $6k in the banki.
Might I interest you in purchasing an ounce of as close to spot as you can get it, and just sitting on it and forgetting all about it?
In the past 50 years, gold went up 8% annually on average. Gold especially goes up in hard economic times.
8% is a better inflation correction than most things.
Also, get your months supplies.
-------------------- Omnicyclion.org higher knowledge starts here
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NothingsChanged
Striving for Excellence


Registered: 05/28/11
Posts: 10,144
Loc: North/Western WA
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Asante]
#27639847 - 01/31/22 04:05 PM (1 year, 11 months ago) |
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Your selling the gold?
--------------------

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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: NothingsChanged] 1
#27639960 - 01/31/22 05:33 PM (1 year, 11 months ago) |
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No way! I'm advising to buy, I'm not offering.
-------------------- Omnicyclion.org higher knowledge starts here
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Hikeadellic
Fungi Fan



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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Asante]
#27640246 - 01/31/22 10:20 PM (1 year, 11 months ago) |
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If you think about it, gold has been the standard for kings since the beginning of time
Wonder what the reasons for
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OutsideOfMyMind
LSD Self Administrative Director



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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Hikeadellic]
#27644689 - 02/03/22 11:10 PM (1 year, 11 months ago) |
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I prefer sapphires and rubies (which are the same thing, just different colors, black diamond is actually black sapphire.) Gold is ok,
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maui
Registered: 11/20/14
Posts: 505
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Hikeadellic]
#27658237 - 02/14/22 03:52 AM (1 year, 11 months ago) |
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Quote:
Hikeadellic said: If you think about it, gold has been the standard for kings since the beginning of time
Wonder what the reasons for 
^
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: maui]
#27658258 - 02/14/22 05:30 AM (1 year, 11 months ago) |
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Quote:
maui said:
Quote:
Hikeadellic said: If you think about it, gold has been the standard for kings since the beginning of time
Wonder what the reasons for 
^
-------------------- Omnicyclion.org higher knowledge starts here
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BSUUF2
derails threads



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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Asante]
#27663944 - 02/18/22 12:53 PM (1 year, 11 months ago) |
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Quote:
Asante said:
Quote:
OutsideOfMyMind said: Ok so I ended up getting rid of my ugly [older] car, moved, and then bought myself a bomb ass car with $7,750. Now I have $6k in the banki.
Might I interest you in purchasing an ounce of as close to spot as you can get it, and just sitting on it and forgetting all about it?
In the past 50 years, gold went up 8% annually on average. Gold especially goes up in hard economic times.
8% is a better inflation correction than most things.
Also, get your months supplies.
I consider gold undervalued now, should get rid of some silver to take gains and re balance a bit, but I hate ebaying things with a passion and no one in my circle is interested in PMs...
-------------------- LAGM2022
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: BSUUF2]
#27664145 - 02/18/22 03:44 PM (1 year, 11 months ago) |
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Gold's gone up like 4-5% in the past days
-------------------- Omnicyclion.org higher knowledge starts here
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Asante]
#27664150 - 02/18/22 03:48 PM (1 year, 11 months ago) |
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Quote:
Asante said:
Quote:
OutsideOfMyMind said: Ok so I ended up getting rid of my ugly [older] car, moved, and then bought myself a bomb ass car with $7,750. Now I have $6k in the banki.
Might I interest you in purchasing an ounce of as close to spot as you can get it, and just sitting on it and forgetting all about it?
In the past 50 years, gold went up 8% annually on average. Gold especially goes up in hard economic times.
8% is a better inflation correction than most things.
Also, get your months supplies.
Your $1800 ounce of gold now is worth $1900.
Quote:
I consider gold undervalued now
Gold is highly undervalued. So is silver of course.
-------------------- Omnicyclion.org higher knowledge starts here
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PrimeMulch
Extreme Sheep Herder



Registered: 03/21/19
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Asante] 2
#27683513 - 03/05/22 07:26 AM (1 year, 10 months ago) |
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Do not: Take out 20k of credit card debt. Open a margin account with a reputable broker. Over report your income to at least 120k/yr. List net assets 80K
Margin let's you trade up to 5x money you don't have. Trade 80k on a swinging stock (or leveraged ETF for max gambling gains) that is preferably going up over time. Zoom out. Zoom in. On the charts. Buy the dip. Sell the rip!
Now, if you bought the dip. But it wasn't the real dip. (it keeps sinking) You're in shit. The broker will do something called a margin call. Basically they think you are too high of a risk and will force sell some or all of your stock. That's game over to that little fraud and your credit score will be 0.
Better: Get at least 80k. Don't day or swing trade more than 1% of your portfolio. Invest in seperate sectors. Hold cash. Yes you are loosing due to inflation right now at a rate of 9% /yr. But with how crazy this market is... It's what I should do.
Edited by PrimeMulch (03/05/22 07:28 AM)
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: What would YOU do in my situation? ($2k-$3k to invest) [Re: Asante]
#27684150 - 03/05/22 05:23 PM (1 year, 10 months ago) |
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Quote:
Asante said:
Quote:
Asante said:
Quote:
OutsideOfMyMind said: Ok so I ended up getting rid of my ugly [older] car, moved, and then bought myself a bomb ass car with $7,750. Now I have $6k in the banki.
Might I interest you in purchasing an ounce of as close to spot as you can get it, and just sitting on it and forgetting all about it?
In the past 50 years, gold went up 8% annually on average. Gold especially goes up in hard economic times.
8% is a better inflation correction than most things.
Also, get your months supplies.
Your $1800 ounce of gold now is worth $1900.
Your $1800 ounce of gold is now worth $2000 
This sounds fantastic until you realize that what that really means your 6K in the banki is now worth $5,400.
-------------------- Omnicyclion.org higher knowledge starts here
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