Investing 102

[Vegas69]

Originally Posted by GregWeld

Which is exactly why I pointed out that they (FA's) can help some people. But I also explained that some people can also do simple math -- so if someone is looking for some miracle (in the form of a financial planner) to straighten out their finances... That's probably not going to happen. So -- like most things -- I was giving people things to think about because it all depends on what it is that they're expecting.

It comes back to personal responsibility and drive. Wisdom uninvested in labor is wasted.

[GregWeld]

Originally Posted by Vegas69

It comes back to personal responsibility and drive. Wisdom uninvested in labor is wasted.

I think the part that bugs me the very most -- is that people will spend all their time on finding the exact right part for their car -- and they'll spend 10 years hunting and gathering those parts and saving up for them etc.... and spend countless hours doing mock up and banging their knuckles... and LOVE IT.

Saving or investing for their f'ckin' future? Learning a minimum amount about it. Knowing how important it is to their LIFE... ZIP!

We'll pull the trigger on a $10,000 motor... or $4,000 wheels... even though by the time the car is actually running - they'll be out of date... but to imagine that we'd buy $10,000 of Altria (MO) and that it might go down to $9,500 and PAY US a 5% dividend... well that' absolutely INSANE. Who'd do that!


UGH....

[protour73]

Greg, I totally dig your "PASSION" about this whole investing thing. It's inspiring!!!!!

THAT is one of the biggest reasons I keep coming back to this thread. Especially recently. All a guy has to do is read 40 or 50 or a 100 pages of this ginormous thread and they will hear the repetition of your message, "This is NOT difficult" "don't do it for the day, or the month, do it for the long haul"

Originally Posted by GregWeld

I think the part that bugs me the very most -- is that people will spend all their time on finding the exact right part for their car -- and they'll spend 10 years hunting and gathering those parts and saving up for them etc.... and spend countless hours doing mock up and banging their knuckles... and LOVE IT.

Saving or investing for their f'ckin' future? Learning a minimum amount about it. Knowing how important it is to their LIFE... ZIP!

We'll pull the trigger on a $10,000 motor... or $4,000 wheels... even though by the time the car is actually running - they'll be out of date... but to imagine that we'd buy $10,000 of Altria (MO) and that it might go down to $9,500 and PAY US a 5% dividend... well that' absolutely INSANE. Who'd do that!


UGH....

[Sieg]

Originally Posted by GregWeld

We'll pull the trigger on a $10,000 motor... or $4,000 wheels... even though by the time the car is actually running - they'll be out of date... but to imagine that we'd buy $10,000 of Altria (MO) and that it might go down to $9,500 and PAY US a 5% dividend... well that' absolutely INSANE. Who'd do that!

UGH....

I could have a 3:73 ring & pinion, rear disc's, 4-link and coil overs, new control arms, spindles, and coil overs....................if I sold MO. Ain't happening!

My piddly little Pro-Tinkering Camaro is your fault!

[WSSix]

Man Greg, that guys sounds like a real twat. Guess he got what was coming to him, lol.

It's also amazing to me how blind people with money will be to the obvious. I realize that there are certain, if not arguably tremendous, perks associated with having money and wealth but legally earning inflated returns compared to your average Joe in a public market place is not one of them. How people like this guy and Bernie Madoff got away with it for so long is beyond me. I wish no ill will on anyone but it's kind of funny how dumb people can be with their money even when they have a lot of it.

Just goes to show knowledge isn't limited to those with certain titles, specific bank accounts, or with in the walls of an institution etc etc.

[GregWeld]

Originally Posted by WSSix

Man Greg, that guys sounds like a real twat. Guess he got what was coming to him, lol.

It's also amazing to me how blind people with money will be to the obvious. I realize that there are certain, if not arguably tremendous, perks associated with having money and wealth but legally earning inflated returns compared to your average Joe in a public market place is not one of them. How people like this guy and Bernie Madoff got away with it for so long is beyond me. I wish no ill will on anyone but it's kind of funny how dumb people can be with their money even when they have a lot of it.

Just goes to show knowledge isn't limited to those with certain titles, specific bank accounts, or with in the walls of an institution etc etc.

Trey ---


Here's the thing about Rhodes that kills me... and to people that don't understand how this could possibly happen! It must have been the result of greedy overzealous uncaring INVESTORS... It couldn't be more 180* out from that.


He started out working for a "FIRM" a big name firm.... was there until they cut him loose for "mishandling" clients funds - and in fact - he was fined for this... it's public record by the SEC -- but you'd have to be partly mad scientist to find out any info like that on a government website! When he left the big firm -- he talked some of his clients into letting him advise them... and over a period of time -- got more and more from then. Like most people ---- people recommend "who they're with" to others -- and so the snowball begins.

Now --- this ahole knew everything about his clients -- what the made - what they had - when they were to retire - their kids names -- everything! He went to some of the kids weddings! This was 20 plus years worth of "confidence" the investors had in this scum wad. The worst to me is that while he was spending THEIR money... and draining their accounts - HE KNEW that he was leaving retired people high and dry... he squandered their lifes savings.

These were NOT get rich quick clients -- in fact -- to the contrary -- most thought they were investing in government bonds and ultra safe annuities and that sort of thing. Funny - I later saw some of the made up names of these "holdings" --- and right then and there was a dead giveaway to me. You could not look up ANY of the so called "bonds". The names alone were made to sound ultra conservative and ultra safe but at the same time - they sounded ridiculous! Golden State Triple A Ultra Safe Government Ginnie Mae Plus Plus 4% Retirement GO Bond. Stuff like that. Just complete BS.

His problem was his EGO. When I first met him - we were at a regional NCRS event at Mt Bachelor (Sun River). He had purchased a well known local 67 BB Coupe... it was a nice 99 point car... and he was entered in the event (these are judged events). I overhead the ahole talking to someone about the car as if though HE had restored it.... When he'd just bought it the month before... Okay - so I immediately know he's a liar lowlife. By the next years event - he had half a dozen mid years... But I'd also heard about him by now --- and he was telling people that he managed about 25 million bucks. Okay - do the math -- 25 million @ 2% fixed fee... about $250 grand gross income. He has a fancy office in Lake Oswego... he has an assistant... so even if he's grossing 400K he isn't in a league that's buying 6 or 700K worth of Vettes in one year... so something stinks to me. He's also bragged about how he takes care of his mother - so you know money didn't come from his parents... 6 months later he's got a '70 Hemi Drop top Challenger and a '67 Hemi Bellvedere... and two brand new Corvettes... and he's hustling other NCRS guys to "invest" for them.

So here's the coupe d gras..... about 3 or so years into this buying spree --- he send the club invites to host a year end party at his house.... The invite begins by describing his 10 mile view - and his extensive art collection and that we are welcome to "tour" his "Crossed Flags Museum".... This is all spelled out in a simple invite. AN invite should state where - why - when - who - time - date.... it's not the place to describe your house... or your view. NOW I'm REALLY HATING THIS GUY! OMG! Who does that?!?!? DUDE -- if you have killer stuff -- and you invite them to your house --- they'll see all that when they get there! You don't need to pump yourself up in your invite. I wanted to shoot him then!

No I did not attend.

I warned people --- "there's something wrong with this guy --- 'cause I know what I have --- and I can't buy cars like he's buying cars!". This guy has bought a million dollars worth of cars in one year! I'm worth more than the amount he's "claiming" to manage and I can't afford to do that!! So WTF... something isn't right.

Next thing you know the gig is up --- the accounts are drained... and lots of people got real hurt real bad.


I will tell you now something that will guarantee you will hate this guy.... I was at my buddys place (NorthWest House of Hardtops)... and this CLOWN comes driving up in his drop top hemi Challenger.... with --- wait for it ----- a SCARF and DRIVING GLOVES on. Wearing a tweed sport coat -- top down on a colder than hell day.

Mark and I laugh about that to this very day.

[GregWeld]

Originally Posted by Sieg

I could have a 3:73 ring & pinion, rear disc's, 4-link and coil overs, new control arms, spindles, and coil overs....................if I sold MO. Ain't happening!

My piddly little Pro-Tinkering Camaro is your fault!

You can drive the Lotus all you want.

[protour73]

Originally Posted by GregWeld

You can drive the Lotus all you want.

Yea, and coilovers now, will not put Filet Mignon on your plate at retirement, the MO will!!

.
.
.So I'm on the Schwab website reading about setting up a Brokerage account and I see they have Schwab Bank High Yield Investor Checking Account. There are no monthly service fees, no account minimum balance, and you earn interest on your balance, and the account is FDIC-insured.

Normally you need a $1000 minimum to open the Brokerage account, but if you direct deposit at least $100 a month they waive the minimum.

I can direct deposit whatever amount I see fit right out of my paycheck and the checking account is directly linked to a Schwab One Brokerage Account.

Even though my company matches money that I'd put into a traditional 401K, which I have pretty much NO control over. I can dump cash from every paycheck into the checking account and purchase whatever stocks I choose, whenever I choose, on my Schwab Brokerage account!! WIN - WIN

[GregWeld]

Originally Posted by protour73

Yea, and coilovers now, will not put Filet Mignon on your plate at retirement, the MO will!!

.
.
.So I'm on the Schwab website reading about setting up a Brokerage account and I see they have Schwab Bank High Yield Investor Checking Account. There are no monthly service fees, no account minimum balance, and you earn interest on your balance, and the account is FDIC-insured.

Normally you need a $1000 minimum to open the Brokerage account, but if you direct deposit at least $100 a month they waive the minimum.

I can direct deposit whatever amount I see fit right out of my paycheck and the checking account is directly linked to a Schwab One Brokerage Account.

Even though my company matches money that I'd put into a traditional 401K, which I have pretty much NO control over. I can dump cash from every paycheck into the checking account and purchase whatever stocks I choose, whenever I choose, on my Schwab Brokerage account!! WIN - WIN

See how simple most of this is?? Seriously... you don't have to have half a gazillion dollars to open accounts or invest.... you just have do to a minimum amount of searching and talking to people and make a couple phone calls...


I can tell you that I post my dividends on occasion for no other reason that to keep the interest going. You know people LOVE seeing what everyone else "has" ------ but I get a kick out of seeing people that I know two years ago didn't know a dividend from a postage stamp --- post up that they just got a dividend!! Yeah --- it might barely be enough to buy dinner -- but it comes 4 times a year --- and is buying them more shares... So the snowball has been FORMED. You guys have no idea how proud that makes me!

[Sieg]

Originally Posted by GregWeld

You guys have no idea how proud that makes me!

I think I might and you should be! The number of younger people in this thread that I've sensed have seen the light and the ones that have already taken action is something to be very proud of. Talk about making a difference in someone's life.........and their spouse and kids as well.

Then there's the number of people who I've shared in person what I've learned.......snowball!

Thanks buddy!