Re: Birchtree's account talk
Birch,
I sincerely appreciate this post. Although for one brief moment Cayman and I had a conflict - throughout the duration I've come to admire him quite a bit.
Didn't realize he was a lawyer (or at least that didn't stick out enough to file in memory storage). What did stick out was his Father and the way he described him (the depth of love and admiration) and his endeavor to continue to represent his example both is his care for the dogs and also in the investment world. Once I like someone then most other events stand out - so his time in Europe and England and being part of the RACES and the nice places are events that kind of become part of my own life as I digest them and that's why they stand out so much. Your 'redheaded GLORIA' was someone different - but she's everybit what GLORIA could have been - at least if you remember her standing on the ladder in the pool.
PLEASE KNOW - I was very sincere in my message. In MHO you and him are Major Pros and I don't mean this to put everyone else in a dim light; or to seperate you from the general MB. Trust me Birch I know it takes money to make money - but I know a lot of RICH people and many of them end up with nothing. So to make $2.4 M during the worst peroid of the Global Economy and all the more with the USA getting majorly smashed is quite an accomplishment. In his quote from you - the figure is $400 - 500K which to me is absolutely outstanding. I'd say the same with $200K and I don't mean this to make you feel awkward.
My point amplifies yours exactly and that's why You and Him are the Pros you are. It's a LONG RACE with careful and timely planning. It's having the ability to find 'Excellent Opportunites' and play them wisely. Only in that manner can you make $200K or $2.4M.
I admire him too Birch - as the conflict was bizarre BS - just like my conflict with KevinD (for which I was equally wrong). Anyway - sorrry if I got carried away - and certainly didn't mean to take the wind out of your sail. The FLOOD GATES have been wide open and seeing his post put me on top of the world - so it was a great way to end the day.
It's all good Steadgain. Birch is right - I'm a lawyer by trade but have been trading more and more - stock that is - but there is for sure a steep learning curve. i have piggybacked on some very successful people who make me feel extremely poor when comparing net worths but have helped me make a buck or two.
My father inherited money from property sold in Southern California which he managed very successful diversifying from land to cash, stock, etc.
I feel I'm learning as well as a caretaker but that's ok.
I've been picking and choosing carefully until March 7 and then pushed quite a few chips in - so avoided some losses and did pretty well on the gains.
The bulk of the estate's money is tucked away but still focused on appreciation as well as preservation but I put aside a nice trading account which and my hands are completely untied compared to the TSP rules and choices - but it is what it is.
My trading account is extremely risky where I'm buying FAS for example which is a typical holding.
I've definitely been bottom fishing where you can get the biggest bang for the buck but also burned big time if you don't protect yourself. Another example I bought 150k shares of AIG when it was 44 cents - literally a penny stock but it ran up to almost 2 buck so I the three week starting Mar 7 I did some very risky trading but that is how the account is set up and it paid off. Birch is right- it helps to have a nest egg to work with but you also have to be smart enough to have security features in place i.e. puts or whatever to protect what you have even if it is high risk. I made more than I lost and that's what counts but their was nothing unavailable to me for trading purposes.
If I had done for example 2 trades in the TSP before March 7 I would have completely missed the bear rally and still be down 22% for the year on the dow so if the government wants people to be able to grow their money and not be dependent on the gov't - the people that are active traders he needs (Mr. LONG) to open the toolbox because you already have the limit of 5 index funds no matter how you mix them and want to call them L funds you still only have 5 funds - all he is doing is hurting people's ability to make money and it is staring him right in the face. Sometimes you can't make this up. As of yesterday the QQQQ were up 7.5% YTD. You need rules that will allow you to be in the market WHEN IT'S GOING UP even if you hit the 2 trade minimum.
By the way - I'm looking at 850 on the s&p as resistance and then a retracement down to maybe around 750 or 760.
