I remember that genius yellafella buying '000s of shares of TLS at $4.50. I asked him why he'd buy them and he said "they're worth over $7 any day of the week" That was almost 5 or so years ago. Today they're just over $3 and never topped $5 AFAIK. A little knowledge etc. plus..he is quite the BSer... http://ferrarichat.com/forum/showthread.php?t=183832 Image Unavailable, Please Login
When the market is in a massive bull run like 2009 that's fine. The bull run ended at just over 5,000. The markets are now dealing with day traders and gambling addicts. Buy and hold is dead. you gotta be glued to that screen now!
I agree. And if you can't make share trading your day job... don't bother. The market really is now all about know-it-all gambling addicts and professionals.
Providing the company shares you hold don't go bust like the first crash! Ie GTFO of banking and will greatly increase the odds of success lol. I am a know-it-all but i don't gamble. I prefer to sit back and say 'i told you so' and when i am wrong i don't post anything lol. You gotta be working for GS to know what to do. Q1 2010 without a single trading loss..... ummmm i guess those insider trading laws are really working well over there!
'Know-it-all' wasn't a dig at you.... but it may have been a dig at others. You are spot on re. the value of information... as I have posted previously. That's why I have little interest in putting my own money in... I just do not have the sufficient connections to make it worth my while, nor the time to do adequate research in order to make what would be at best, educated guesses. If you don't have the connections, you're just guessing and gambling, IMHO.
insider trading !!! you're kidding, that doesn't still go on does it ?? corporate criminals should be sent to the chair
Should that also include politicians who use idiotic fiscal policy? Say for example you want to spend $16B on the education system and you make schools build halls. They already have a hall. They don't want another one and instead they need badly required textbooks and computers. You know this but you make the school build the extra hall anyway. Should we not consider that $16B worth of negligence? If a secretary orders $16b worth of blue pens i'm pretty sure she would face criminal charges.
what did the auditor-general say ? if proven then of course they should, but will we make this retrospective ? A lot of stupid mistakes have been made
don't worry I've done that to. twice in my life I've tornup about 2 million each time. Thank goodness for grandpas trust account,all 40 million.
Conflicting info in the media. Initial reports were the AG said it was good. Other reports say the AG found holes all through it. I'd say probably a mix of both with the outcome that it was ok. There was an interesting comment made by Hugh Hendry when he was disagreeing with a University professor. He said the professor would survive in tenure if the professor was proven wrong. Meanwhile he would go broke if he was wrong, so who do you want to bet with? Why should the people running this country get away scott free? If they stuff up, they lose their lifetime benefits. Simple as that.
