Off topic bitcoin rats deserting ship

[Dan Dubeau]

http://www.homeshopinvesting.com

[J Tiers]

Yup, you're a real winner alright. Very sad.

Ok Trump.

Whatever for?

I'd hae sold and taken my many thousand percent gain. That's good enough for me. (maybe I did, you don't know) Anyone who did not sell a significant amount at least, is probably a gambler, what they used to call a "plunger", and likely not someone to take advice from.

Same with the folks who keep a big position in gold mining stocks that "are bound to pay off big any day now"..... or the like. Those are not good everyday investments.... if you luck into such a thing that really does pay off big, OK. But basing an investment strategy on such "home run" investing is not too smart.

I suppose if the amount is not a significant amount of total investment, that might be different. I'd consider advice from someone who was open-minded enough to give the bitcoin runup a shot with a few extra bucks

Yup, you're a real winner alright. Very sad.

[J Tiers]

Wow, it must be very sad to be you.

Whatever for?

I'd hae sold and taken my many thousand percent gain. That's good enough for me. (maybe I did, you don't know) Anyone who did not sell a significant amount at least, is probably a gambler, what they used to call a "plunger", and likely not someone to take advice from.

Same with the folks who keep a big position in gold mining stocks that "are bound to pay off big any day now"..... or the like. Those are not good everyday investments.... if you luck into such a thing that really does pay off big, OK. But basing an investment strategy on such "home run" investing is not too smart.

I suppose if the amount is not a significant amount of total investment, that might be different. I'd consider advice from someone who was open-minded enough to give the bitcoin runup a shot with a few extra bucks

I forgot another obvious category.... Anyone still holding bitcoin......

If they have not figures out the deal by now, they never will.

Wow, it must be very sad to be you.

[J Tiers]

And there are people that are constantly telling others how rich they are, but are usually worth much less. Avoid their advice.

I forgot another obvious category.... Anyone still holding bitcoin......

If they have not figures out the deal by now, they never will.

[danlb]

In my experience, being "moderately wealthy" is vastly underrated. There's nothing wrong with being "quite wealthy" or "stinking rich" but it's easier for an average family to reach those lower rungs. Once you get above the first few levels of Maslow's hierarchy of needs you have enough to enjoy a reasonably stress free life.

I'll never be rich. Opportunity knocked on my door at least twice, and I turned it down both times. I instead took the more guaranteed path, working long hours and being on call for years at a time. I spent 40 years, give or take doing lots of work and getting a few good breaks.

I retired at 55 when I realized that I don't need to fund an extravagant lifestyle stretching out for 100 more years. All we really needed was enough to be comfortable. My wife retired early too, at 51. Now we are living (literally) on social security for day to day expenses. We have savings/investments to pay for the big stuff as it's needed, but we don't have a lot of big needs. And we are happy.

For us, the key has been to make sure that we have enough resources to meet anticipated needs for life. That's all. Any more is just gilding the lily.

Dan

[Mcgyver]

Only heed financial advice from wealthy people.

this is a bit of nonsense imo. It assumes that those who become rich did so because of superior financial and investment abilities. That is rarely the case. sometimes its luck, sometimes an invention but more often its great business expertise and energy applied to a domain (with a bit luck thrown in). None of that requires investment expertise, none of the very wealthy I know outside of a few C level investment bankers/capital markets types, are really qualified to give investment advice; they didn't get rich through finance/investment (on the whole, there's going to be exceptions)

Half of the funds under perform the market each year so if you're thinking choosing a great stock picker is the secret, try again. The person to take investment advice from imo, if you chose not to roll your own, is one educated and experienced in investment, capital markets and finance. While yeah, I'd stay away from the one driving a '73 Gremlin, expecting him/her to have to chose what colour Bentley to drive is nonsense. The sane investor and sane advisor knows its a slow process, its not hard to get rich slowly, its extremely hard (and reckless) to get so fast - at least through investment. So I'd expecting a good advisor to be living well, have a 1/2 -2MM net worth maybe but not worth 100's of millions. You get to be rich quickly through massive business success, not giving sane investment advice....except for the odd lucky confidence man willing to take too much risk with your money.

[J Tiers]

"Old money" folks are nice,in general, "new rich" have something to prove, and can be nasty.

[Black Forest]

I've dealt with a lot of people in my time & IMHO have found the really rich are the nicest people it's the want to be's that are the most nasty, mean people you'll find.

That is only partly true in my experience. I have been around all of the above my whole life. In my entire life I have only been around one family in the really, really, really rich category that they were all nice, both personally and in business. These people are billionaires. The father mowed his own grass on their estate. The son and daughter are my friends. The most people that are really rich I find to be treacherous in that they will be smiling and nice while simultaneously planning your demise! Just my experience.

[flylo]

I've dealt with a lot of people in my time & IMHO have found the really rich are the nicest people it's the want to be's that are the most nasty, mean people you'll find.

[J Tiers]

And there are people that are constantly telling others how rich they are, but are usually worth much less. Avoid their advice.

Don't know any of that class personally, I normally do not like them. But avoiding their advice is good advice.

We will not count the member who has (or had) a sig line of: "Working on my second million. Gave up on the first one".

And, another class to avoid.... Those who seem to have all sorts of expensive things.... expensive cars, expensive house (or 2 or 3), kids in the best private school...boats, airplanes, etc. Many of them have no excess income to invest... They spend it all. Their advice is no good either .

[tomato coupe]

... there are folks who do not "act rich", who may actually have several million $$ of investments ... those last are good ones to ask

And there are people that are constantly telling others how rich they are, but are usually worth much less. Avoid their advice.

[J Tiers]

Only heed financial advice from wealthy people.

Hmmmmmm.... Sounds like "if you so smart why ain't you rich?"....

Would that be HELPFUL ones? Or the ones who have enough competition already and give bad advice? Or ones who are rich because they inherited it, or sold a company they built up for big bucks, and have no clue about investing?

There's all sorts of obviously rich folks. And there are folks who do not "act rich", who may actually have several million $$ of investments....(which is not always that great, these days). Those last are good ones to ask, they usually invested well.

So.... what's bitcoin at now? Holding? Dropping? Back on the rise? I have not been watching it.

Only heed financial advice from wealthy people.