Investing 102

[Sieg]

LOL! I accidentally bought 100 shares of TEVA @ $37.30 (No I won't go into the details)
I started watching and reading up on it and thought hmmm this CEO deal might not be terrible. Being a Euro trade I couldn't reinvest the dividend (at least that's what I think) I couldn't get comfy with the risk and sold it @ 39.80 and also picked up a $32 dividend deposit.

[protour73]

Is that like "she accidentally got pregnant" ? LOL

Originally Posted by Sieg

LOL! I accidentally bought 100 shares of TEVA @ $37.30 (No I won't go into the details)
I started watching and reading up on it and thought hmmm this CEO deal might not be terrible. Being a Euro trade I couldn't reinvest the dividend (at least that's what I think) I couldn't get comfy with the risk and sold it @ 39.80 and also picked up a $32 dividend deposit.

[WSSix]

hahahahaha is this really the name of the firm? Gatti, Gatti, Mayer, Sayer, Thayer and Associates Say it three times fast and try not to chuckle.


Greg, do you feel the same way about fee only financial planners/advisers? You know, it may just be me hoping and wishing for the best in the world but I've got to think there has to be people out there who truly and honestly want to help people with their investments while also making a living not a killing like this guy was. I've always heard that fee only people are safest because they only make money upfront when you meet with them. They don't get any percentage of your gains so there's no ulterior motive to their advice.

[GregWeld]

Originally Posted by WSSix

hahahahaha is this really the name of the firm? Gatti, Gatti, Mayer, Sayer, Thayer and Associates Say it three times fast and try not to chuckle.


Greg, do you feel the same way about fee only financial planners/advisers? You know, it may just be me hoping and wishing for the best in the world but I've got to think there has to be people out there who truly and honestly want to help people with their investments while also making a living not a killing like this guy was. I've always heard that fee only people are safest because they only make money upfront when you meet with them. They don't get any percentage of your gains so there's no ulterior motive to their advice.

I have used fee only financial advisors... and as long as they're FEE ONLY --- I think using them to take a long hard look at your finances is fine. I will say though -- that mostly they are only going to tell you what you already know. I.E., You need to cut expenses -- make more money - save more money - pay off debt.

See -- that's the thing --- it's MATH. Everyone can add and subtract. It's not even algebra. You earn X -- you spend X... there's X left over or not.

So a financial planner/advisor can't change your habits. That's what has to change -- unless you're just making way more money than you need -- and then that's SUPER EASY -- you take what's left over and invest it in SOMETHING - ANYTHING.

They will help you think about "stuff" in a different way -- so that's usually worth the 2K or so fee. Stuff like life insurance... whole life vs term life --- get you to think about how much you need --- or don't need. If you're single - no kids - etc - who needs life insurance -- so what if you croak? That type of thing.
But they can't change your mortgage.. or your car payment... or pay down the VISA.

To me it's kinda like going on a diet --- you do well for a few weeks -- or even 6 months or so... and now you've spent 2K "extra" to find out what you already should know.

That's "plain english".

For some folks it may have them turning over a whole new leaf. Maybe they don't think about paying down a 20% credit card FIRST vs paying the 6% Card and so on. So it can be a really good thing.

Like most "advice" --- you really really have to be willing to take the advice and stick with it.

[sik68]

Greg, the series of posts you made above are in invaluable. It will be read many times along my investing career in moments of weakness when I doubt my ability to think for myself.

Got my annual SEP IRA check deposited today, it's time to do some investing!

[GregWeld]

Originally Posted by WSSix

hahahahaha is this really the name of the firm? Gatti, Gatti, Mayer, Sayer, Thayer and Associates Say it three times fast and try not to chuckle.


Greg, do you feel the same way about fee only financial planners/advisers? You know, it may just be me hoping and wishing for the best in the world but I've got to think there has to be people out there who truly and honestly want to help people with their investments while also making a living not a killing like this guy was. I've always heard that fee only people are safest because they only make money upfront when you meet with them. They don't get any percentage of your gains so there's no ulterior motive to their advice.

Trey ---


One night (after all his troubles were aired on TV and in the news) -- Rhodes got seriously plastered - he went for a walk and fell down and hit his head on a manhole cover... he stumbled to a random neighbor and reported that he'd been shot. He said "Greg Weld drove by and shot me". I hated him -- he and everyone else in his world knew I hated him - he was not only a schmuck stealing lying POS -- he didn't know anything about cars or Corvettes and the NCRS made the bastard President of the local chapter (I quit that day!). I'm not joking here!! That (that he'd been shot) was, of course, reported to the police - he was taken to the hospital to get stitches --- and oh hell yeah -- the cops were calling me!

So the detective calls and starts to tell me why he's calling and that I'm a "suspect" in the case. So when he was finished... I said to him (not joking here either) that had I shot Wesley C. Rhodes that he'd be deader than a effin' doornail! And that yes - absolutely I'd love to kill the lying sniveling bastard - but I was in Seattle - as the detective knew since he'd called me... and I didn't shoot him even though I'd love to, given half a chance!

The cop started to laugh at this -- because - as usual, I was rather "direct".... and he says --- "well... we're well aware of Mr. Rhodes "issues" and I've seen lots of bullet wounds and this was no bullet wound... that it was pretty obvious that he fell and hit his head on something". He said he had to call me as part of the case but that I needn't worry about being arrested any time soon. LOL

[GregWeld]

Originally Posted by Sieg

LOL! I accidentally bought 100 shares of TEVA @ $37.30 (No I won't go into the details)
I started watching and reading up on it and thought hmmm this CEO deal might not be terrible. Being a Euro trade I couldn't reinvest the dividend (at least that's what I think) I couldn't get comfy with the risk and sold it @ 39.80 and also picked up a $32 dividend deposit.

OKAY THAT'S IT!! ---- Oh wait! I can't feed you thru your carburetor... you've already had that fire once!! LOL

[glassman]

^^^^Oh that was COLD, but funny,,,,

[GregWeld]

Originally Posted by sik68

Greg, the series of posts you made above are in invaluable. It will be read many times along my investing career in moments of weakness when I doubt my ability to think for myself.

Got my annual SEP IRA check deposited today, it's time to do some investing!

Good to hear and thank you Steven. I'm happy to hear you're about to take the big plunge! I appreciate the warning too... because now we'll all know why the market takes a giant dive - you know - the hour after you get in! LOL


What I'm talking about in this thread isn't GOSPEL.... rather... it's simply food for thought! Like most things -- there's 50 ways to do "X"... my way of looking at things is just that, "my way". Nobody has to do what I say, or think the way I think.... I just want PEOPLE TO THINK. Period!

[Vegas69]

Greg, my counter punch is that you can't take your knowledge for granted. What is instinct for you at this point is foreign to others. Many high wage earners are not great with personal finance just like the less wealthy. They need someone to look them in the eye and say, hey, you need to wake up and smell the coffee and here's how you get there.

Me, I'll read a book, experiment, put together a budget, spreadsheet, scheme and plot. Not everybody is that driven. That's why financial advisors exist. I have two good buddies in the business.

Then there is asset protection from tax and death and the list goes on. To me they are a piece of the puzzle that makes it all click.