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»  » don't forget your 3k tax write off ,if you're a victim of the stock market like i ....
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don't forget your 3k tax write off ,if you're a victim of the stock market like i .... |
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| P: 2/20/2005 1:12:16 PM | |
Dancing Fire Ideal Rock Total Posts: 10,227 Last Post: 11/24/2009 Member Since: 4/3/2004 |
was and still am,with this 3k write off rule i could live another 100 yrs and still be writing it off,thanks to companies like (just to name a few) ATHM-excite @ home EXDS-exodus communication JDSU ICGE AVNX i sell short on: AMZN-amazon.com @ $20 and the stock go's to $59 and i cover and lost my A*S....now the stock drops down to $33.50. shorted chinese internet stock NTES @ $22 and it went up like crazy,lost my A*S it is always harder to find a "mind clean" stone than a eye clean stone. |
| Posted: 2/20/2005 1:12:16 PM | |
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There are 3 replies to this message. There are 3 replies on this page. |
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| P: 2/20/2005 6:38:12 PM | |
perry Ideal Rock Total Posts: 1,782 Last Post: 11/16/2009 Member Since: 9/19/2004 |
Dancing: Did no one tell you. The stock market is one of the forms of legalized gambling in this country. One of the great american myths is that individuals make money on stocks. Many of study has shown that this is rarely true with either short term or long term investments. Most people loose money long term on stocks where they are individually picking them. The loss is compared to conservative bond or other "lender based" investments they could have put their money into. It always stikes me as not quite ethical treatment by various investment brokers who do not tell people about the studies indication how poorly individual investors actually do as a group. Major ballanced funds do make money more often than not because they are assebling a ballanced portfolio and can afford to have a multiperson full time research staff looking for good invesments and watching their existing investments. They also tend to have stock selection boards that are fairly immune to the "emotional" aspects of investing. Of course, even the ballanced funds have their ups and downs. Market strategy funds (High Tech, etc) usually reflect what happens in the market segment. I was fortunate that I only lost several thousand to learn this mistake about 20 years ago. I hope that you can develop a better and more ballanced investment portfolio. There is pleanty of information out there on how to do it in a way that works. Although, it is rather booring with little excitement. Just steady year after year growth. Just remember, surfing the wave is fun... but only while it last, and most surfers whip out rather frequently. Too many individual investors are hooked on the "fun" and the excitement of maybee getting a "large" return this year. Often they get a large "loss" instead. Perry
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| Posted: 2/20/2005 6:38:12 PM | |
| P: 2/20/2005 10:07:56 PM | |
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Dancing Fire Ideal Rock Total Posts: 10,227 Last Post: 11/24/2009 Member Since: 4/3/2004 |
Perry i know the stock market is the biggest casino in the world but i don't always go long on a stock,some time i sell short. it is always harder to find a "mind clean" stone than a eye clean stone. |
| Posted: 2/20/2005 10:07:56 PM | |
| P: 2/20/2005 10:21:41 PM | |
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Dancing Fire Ideal Rock Total Posts: 10,227 Last Post: 11/24/2009 Member Since: 4/3/2004 |
Date: 2/20/2005 6:49 Steve 8 PMAuthor: Feydakin Selling short is not loosing your a**, it's not making as much as you might have.. As for gambling, I'd rather play in the market than in Vegas.. Much better return on my investment.. Sure, we've lost on some, and have friends who have as well, but generally we do pretty well in the market.. But it's also a small percentage of our overall investment plan.. When I was doing tech work in cali I had a day trader client.. Set up a great trading system for him at home.. I never saw anyone make and loose so much money in one day.. But over all, he made money and was having a good time doing it.. Off course, this year we are taking a huge tax hit because we are rolling over and moving around etc..  when you short a stock and the stock keep going up there is no limit to the amount of money that you can lose until you buy back to cover your short position. it is always harder to find a "mind clean" stone than a eye clean stone. |
| Posted: 2/20/2005 10:21:41 PM | |
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