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TheMailMans tips to making money.

Discussion in 'General Nonsense' started by TheMailMan78, Apr 3, 2009.

  1. TheMailMan78

    TheMailMan78 Big Member

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    OK a while back Dr. Pepper asked me some tips on making money in the market. I typed this long PM to him and afterwards I thought it might be good to share it will my fellow TPU members. This is all advice from an American capatalist pig so take what you want from it. I just hopes it helps during these "times".

    Anyway heres a few tips.

    1. Patience. Nothing in this world is worth doing if its easy. Except collage girls. When you invest into anything its an INVESTMENT. Investments take time to turn profit. Its months and sometimes years before you can make profit on something. People get caught up in a microwave world and think everything is "instant". Its not. Nothing worth anything anyway.

    2. Research. Know what you're looking at. Never assume you know all the facts and dig were you can. A small detail at the end of a great speech or sales pitch can tell you more than an hour of BS. Never get caught up in the moment and question everything.

    3. Trust. Do not trust anyone when it comes to money. Especially yours. If you have a great idea for an investment keep it to yourself. People will take your lunch when you're not looking.

    4. Money. It all starts here. No amount is to small. Save everything. Take what you have and make it work. Do you really "need" a new CPU? Do you really "need" new shoes? Question your place in life and decide whats important and whats not. People will make fun of you for not having the latest but in the end you will be laughing all the way to the bank.
    It doesn't take much money anyway to open a savings account or get a CD at a bank.
    SO instead of buying a new game this weekend take that 50 bucks and put it in a high interest long term savings account.

    5. The Market. Ok the market is a bitch. It will rip your heart out and eat it from of your children. However there is so much money and power in the market you HAVE to play with it. I personally do not buy and sell in the market. I have a broker. I pay him to do all the playing. You can too. Just contact a good firm like Janus and give them your money. What you can spare mind you. Talk to a broker and learn how the nuts and bolts work. Remember the first 4 rules? Ok think of your broker as a priest now. Tell him everything. This way he knows how to work your money to benefit you and him. And yes HIM. The more money you make the more he makes.

    6. Discipline and life: Remember to live also. You need to have fun. Don't cut everything out of your life. What good is money without friends and family to spend it when when you retire? If you get into the market do not watch your stocks. It will kill you. Relax and make new money to add to your investments. This all comes down to discipline. Discipline to make balance. It may seem hard at first but once you get into the groove its easy to lose track.

    The way I do it is like a video game. Money is my score. When I screw up I lose points. When I do something "right" I win points. This to me makes money fun. Anyway I hope this advice helps. Talk to your parents about it if you can. You might be surprised on how much they help you get started If you're a kid. If you're an adult its NEVER to late to start taking score :toast:
     
    Last edited: Apr 3, 2009
  2. DanTheBanjoman Señor Moderator

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    Lies, scams, deception, abuse, violence, back up your threats. Those are my tips.
     
  3. DaMulta

    DaMulta My stars went supernova

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    :respect:Your tips are so much more simpler and easier to understand than MailMans.
     
  4. TheMailMan78

    TheMailMan78 Big Member

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    I'm from Miami. What do you think I was talking about? :laugh:
     
  5. DanTheBanjoman Señor Moderator

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    If we're adding localized tips I'd have to add selling weed and prostitute yourself to the list.
     
  6. HolyCow02

    HolyCow02 New Member

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    And since I'm from NY I would have to add hitman to the list... so many wall street people to target...
     
  7. TheMailMan78

    TheMailMan78 Big Member

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    And here I thought I was giving good advice. Oh well. Back to the bottom of the interwez I goooooooooo.
     
  8. This is my best advice: Get a job.
     
  9. h3llb3nd4

    h3llb3nd4 New Member

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    and if you can't get one, kill the person in that specific area who is currently working in that position you want to be in and apply for that position...
     
  10. Deusxmachina

    Deusxmachina New Member

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    Careful. Those two points may not go together as often as people might hope or think. Most people I know who have traded for a long time probably consider at least 80% of the "gurus" and "advisors" out there to be idiots or scam artists or both. The recent Jon Stewart show with Jim Cramer on where he played some of Jim's old video "tips" is probably a decent example that lay people can understand. After showing Jim in an old video showing another guy how to manipulate this or that and get around certain laws, Stewart said point-blank, "This is other people's money you guys are doing this with. This isn't a fucking game."

    To Jim's credit, I think he's changed a little since that show. I still think he's wrong often, and his constant bashing of shortsellers and wanting the uptick rule back are both silly, but he "seems" to have a little more conscience about "the little people" since then.

    I was watching CNBC the other week, and the blonde chick on Fast Money said she doesn't know how to read a stock chart. What? If she doesn't put much faith into reading them the way other people might do, ok, but to say you don't know how to read one yet you're on a financial/stock show had me drop my jaw.

    There are different advisors, though. I know an upstanding guy who is a financial advisor, I think he's good at it and knows what he's talking about most of the time, and he seems to be pretty good at "the big picture," but he's not someone I would take individual stock advice from, for instance.

    Overall, I consider most of the banking, financial, and stock market industries to be pretty much a joke. Look around. Big banks, hedge funds, mortgage companies, AIG, Lehman Brothers, Bear Sterns, ...all these clowns lost their asses. Some of them promoted the bubble and scams, (including the federal government who now wants you, the taxpayer, to pay for their mess), while others didn't see it coming at all. Warren Buffet's company's value is down, what, 50% or whatever in the past year or two? And they call him "The Oracle of Omaha"? He's probably made up some ground the past few weeks, but the point is, even with getting his special preferred deals, the great one still bought early and continued to lose.

    Hedge fund scammers, bank scammers, trash like Citibank is a penny stock but the government saves it with your children's tax money, a worthless SEC, government scammers, Goldman Sachs scammers, a Treasury Secretary who was a big part of the bubble and who doesn't know how to pay his own taxes but now says he knows how to fix everything, AI f'n G...

    The little guy has other things impeding him including things like the S&P500 Futures pit people can buy/sell in .10 increments but normal people can only buy/sell in .25 increments. It's like everywhere you look, the system is rigged against you. Hell, you can't even make more than three roundtrip stock trades in a five day period unless you have at least $25k in your account. Bet most people don't know that. It's supposedly to protect you, but I say it's just another restriction on the little guy to stop him from taking the big boys' money.

    Most restrictions hurt the little guys more than the big guys. The proposed .25% stock transaction tax likely won't happen, but it ticks me off when people who have probably never bought a stock in their life or who "Buy and Hope" say what a great idea it is.

    /rant off. for now.

    Anyway, I'm doing my taxes today, so maybe that's why I'm in a bit of a mood. :shadedshu My main point is to be careful of whom you trust your money to. You only get one chance at retirement, and there's a whole lot of "experts" out there who, even if they have your best interests at heart, may not know much more than you could if you read up a bit. Ask yourself how many of these experts saw the stock market and real estate bubble bursts coming, and what they did while it was/is happening, (and maybe the upcoming commercial real estate and credit card bubble bursts), and then ask yourself if you think you could do better, or at least not do worse.

    If someone has under 25k or so they want to make a few bucks on, thanks to the slashed interest rates that make it almost pointless to put money into longterm CDs and things, (gee, and they wonder why no one bothers to save money anymore), one thing to consider is putting that money into one of the high-interest checking accounts, usually found online, but you might have one local. The good ones are up around 6%. Think I even saw a 7% one the other month. They require a little hoop jumping, you have to have one or two automated transactions with the account a month, and you have to make around 10 or so debit card transactions a month, but that is easily done by buying gas a dollar at a time one day a month or paying your internet bill online with 10 payments or whatever.

    Edit: pay special attention to Mailmain's #4 tip. Stop buying crap you don't need. People might make fun of you once in awhile for not having as nice a car as them, for not wanting to pay $6 for a cup of coffee, etc, but for a lot of them, you might notice them mention how they don't have any money this week, can't pay this or that bill, got a loan from from one of those money store places(!), are behind on their house payments, have large amounts on credit cards, etc. I know a lot of people who blow a lot of money who then have to wait until they get paid next week to buy something for $40 or whatever. They have an expensive car, expensive cell phone and plan, all the movie channels on cable, etc, but they can't come up with $40? Or $100. Whatever -- pick a number that would surprise you. Some people truly are rich, but a lot of people just look like it. It's quite shocking how many people really are two paychecks away from having nothing.
     
    Last edited: Apr 4, 2009
    CyberDruid says thanks.
  11. Deusxmachina

    Deusxmachina New Member

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    Nope, sorry, wall of text needs another brick.

    Check out some of the stock upgrades and downgrades from "experts." "Goldman Sachs has downgraded Google this week from a buy to a hold," etc. The stock drops from, say, $500 down to $400, and THEN they downgrade it. Wow, what "expert" timing there. And remember when Lehman Brothers was giving financial advice? Yeah, broke people giving financial advice.

    Most of them, scammers or idiots or both.

    That reminds me, I never did look to see if Goldman Sachs downgraded itself when its scammer ass dropped to 50 bucks.

    Oh yeah, and you know there's actually people out there who get paid large amounts of money to tell you whether you should have, say, 20% in stocks and 30% cash, etc, instead of 30% stocks and 20% cash? People pay large amounts of money for such sage advice. Amazing.
     
    Last edited: Apr 4, 2009
  12. KieranD

    KieranD

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    money is to be used as legal tender to buy items and services rather than the old barter and trade system

    money isnt everything its what you get use it for that is

    we pay taxes because in a democratic society we elect a government to run the country on our behalf, this is because as a collective and organised humans are more efficient than doing everything ourself, governments also are supposed to make everything a bit more fair and equal because if you just had everything private people would take advantage of that and try to rip you off

    plus you cant have a police force, army, fire service, proper diplomatic relations, proper legislation and laws, proper justice system, proper regulation and proper health service without a government

    i mean for a private hospital to work it has to have an income and it dosnt come from the government it comes from people being sick and hurt and needing medical attention so they want you to go there right? thats not how it works in the UK
     
  13. KieranD

    KieranD

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    in scotland mugging people or burglary is a good source of income

    also getting a job

    fleecing the system for benefits

    meh selling drugs or stolen goods
     
  14. CyberDruid

    CyberDruid New Member

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    Thanks for all those tips...I thought running (ruining) my own business was the ticket.

    Okay about finding a Money Manager and then Not Watching...I did that. I lost 20,000 in two months. When I did log on and check my portfolio and go back through the history I saw my Money Manager did exactly nothing. He let my money ride. Down the toilet.

    When I contacted him and told him my concerns he told me it was going back up not to worry. I watched another week and another 1000 dissappear and pulled in his leash and got my money out.

    He assured me even then that it was going to bounce back.

    Has it bounced back yet guys? Hows that GM stock looking for the longrange wait-it-out approach to investing?

    Sorry to say but it IS a microwave economy and applying old school tactics to the new game is going to leave you out of pocket.

    The safest thing without a doubt is metal. Right now precious metal is still holding it's value. And climbing. Those who starting purchasing actual metal a year ago...not paper on metal...the actual stuff...bullion, rounds, bars...are watching their long term investment do what you would expect a prudent investment to do: compound value.
     
  15. Steevo

    Steevo

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    Guy hard product, like gold, gems, or play the money market. YOu will loose less.


    My 401K that is splie between three markets has still lost over 50% of its value. So I stopped putting money in, the return currently on my house is better, so pay more to your debts. Get rid of high interest debt if you have any first and foremost, then pay like hell on investments like property or a car so you can gain equity.
     
    10 Million points folded for TPU
  16. twilyth Guest

    I have mostly mutual funds and they've dropped about 1/3 from the highs - a little less - so I figure I'm doing ok. Now they're starting to turn around. Funds and ETF's are the way to go, but look at the expenses charged. Things like DXO (double short crude oil) charge huge fees, but you can still make out if you've guessed the market correctly (yeah, right!).

    For funds, it depends on what you pick. I go for long term growth, combination of value & dividends and medium grade, high yield paper.

    Right now might be a very good time to get in, but people were also saying this 4 months ago and we saw what happened. Oh yeah, Citibank at $20 is a freakin' steal!!! Yup.

    I'm buying call options rather than stocks outright. If your wrong about the market, you lose a lot less. And if you're right, you make out as well as owning the stock. But since I don't like trying to time the market, I go with the 2011 leaps - the 2010's if they're the longest available.

    The market is so volatile that you can put in a bid for an option that is 2/3 of the current bid and in a couple weeks, there's a good chance you'll get it.

    Whatever you do though, stop loss orders, trailing stops, etc. are your friends! :)
     
  17. Deusxmachina

    Deusxmachina New Member

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    It is. Just make sure to really run it into the ground so you can get a government bailout.

    Silver is always a practical gift. Everyone in this thread, maybe consider handing out one-ounce silver bars next Christmas and teaching the kids what real money looks like. A shiny gift, and educational, too!

    Here's how you make money in the current stock market. On an up day, buy FAS. On a down day, buy FAZ. Easy!

    :D Just kidding there. Those things will smack you around if you're not careful. And they are definitely not for holding long-term. Not for the squeamish.
     

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