2011 Off topic thread(basketball,movies,etc whatever)

[MMA_scientist]

I would only put the money you need soon into a money market. They pay shit right now. A bond or bond fund is fine, it is safe and you know what you are getting. If you don't need the money for at least a few years, definitely put it in the stock market or buy a house.

[poopoo333]

I am hoping to not use this money for awhile..I just want to let it grow. And I am not too sure what you mean here: "I would only put the money you need soon into a money market. They pay shit right now."

[SPX]

What exactly is day trading? And what does a "day trader" do every day?

[poopoo333]

What exactly is day trading? And what a "day trader" do every day?

What we do. Except instead of having IWS and bookmaker and best fight odds up in their tabs they have CNN, E trade, and a stock forum up.

[MMA_scientist]

I am hoping to not use this money for awhile..I just want to let it grow. And I am not too sure what you mean here: "I would only put the money you need soon into a money market. They pay shit right now."

I mean the rate of return on a money market account is less than 1% per year. It fluctuates depending on market conditions, but rarely ever get higher than 2 or 3%.

A money market account is really just a checking account that pays interest. They "pay" (the ROR) shit at this moment in time.

Stocks offer the highest return on your money, that is all there is to it. You can make an argument for real estate in some cases (because of the added leverage of a mortgage). If you want to keep it simple just buy an ETF or mutual fund. You can buy a REIT (a mutual fund that holds realestate) if you want real estate exposure without the hassle.

The way 90% of people invest is they buy a mutual fund that covers bonds, stocks, international stocks, and real estate. There are hundreds of mutual funds to choose from, they basically do the work for you. Just buy a "target date" fund from vanguard or TRowe Price, and be done with it. It is the easiest thing to do, and you will probably beat 90% of traders.

[MMA_scientist]

What we do. Except instead of having IWS and bookmaker and best fight odds up in their tabs they have CNN, E trade, and a stock forum up.

Pretty much. Most day traders rely on "technical" analysis- charting. You look at the trend of a stock and try to anticipate its movement. a Day Trader doesn't hold stocks over night, they buy in and sell the same security within one trading day. IMO, it is almost impossible to make money like this unless you leverage the shit out of your account (margin = borrow money from your broker to gamble with). If your stock drops too much, you get a "margin call" which means, they cut the trade off for you and you owe the money right now.

[Vandelay]

I put money into an account with Euro Pacific Capital a couple years back. this was probably 2008 i think. mayb early 2009. Anyway i think Peter Schiff is pretty smart and I like the way he views finance and different policies. I primarily wanted to invest money in companies that dealt with gold and oil. I also wanted to buy gold which was around the high 800's per ounce at the time, but I didn't feel comfortable buying it online or having the company I bought it from storing it themselves. Gold is around 1600 an ounce now and should continue to grow with the global recession/panic.

O and I think the average Euro account was something like 200k and up. I'm surprised they took my measly 2,000 or 3,000

[poopoo333]

Yeah I keep reading/hearing Gold=good investment. So how much $ have you gained through that euro account?

[SPX]

What we do. Except instead of having IWS and bookmaker and best fight odds up in their tabs they have CNN, E trade, and a stock forum up.

Too bad there aren't fights every day. Betting on MMA could have a lot more potential as a good source of income then.

[poopoo333]

Too bad there aren't fights every day. Betting on MMA could have a lot more potential as a good source of income then.

I'd go crazy probably. You can bet on MLB everyday, learn about baseball. I'd be doing well in MLB this year if I weren't a dumb fuck making too big of bets

[SPX]

The thing about other sports is that I'd basically have to learn the sport from the ground up. Other than the basics of how some shit is played, I really don't know anything about any other sport. I come closest to really knowing something about basketball when it comes to understanding the sports world beyond fighting, but even then, I don't really get it.

So not only would I have to learn the sport, but I'd have to learn it well enough to predict outcomes.

[Svino]

Honestly, baseball is such a statistical sport I wouldn't even think of touching it unless I had a very sophisticated model, one I was confident was better than what the houses use.

[Vandelay]

I pulled the money out after like 6 months or so. My account manager was a nice guy, but at the time I wanted him to just do whatever he thought best with regards to what companies would do well and stuff like that. He prepared run downs and in-depth descriptions of companies he had an eye on. I decided to pull the money out cause I didn't know enough about the stock market and 2k was too much to invest on something I didnt know much about. I was more interested in the gold aspect then actually playing the stock market and Peter Schiff was a guy that predicted the housing bubble bursting which would lead to an economic downturn. Everyone thought he was crazy. He's also the financial advisor for Ron Paul. Anyway he was bullish on gold and companies that dig for it etc. The reason why gold is so valuable is because it holds its value no matter what. the dollar and euro are only worth what the government says they're worth.

[SPX]

The reason why gold is so valuable is because it holds its value no matter what.

I question this. I've heard so many times from people that if the economy collapses then gold will once again be the universal form of currency, but if we've gone straight apocalyptic then are people really going to give a fuck about gold? I imagine that we'll go to a barter system where we once again trade goods and services, not shiny metals. . .

[poopoo333]

I question this. I've heard so many times from people that if the economy collapses then gold will once again be the universal form of currency, but if we've gone straight apocalyptic then are people really going to give a fuck about gold? I imagine that we'll go to a barter system where we once again trade goods and services, not shiny metals. . .

When are we gonna go straight apocalyptic?