So I'm reading "The Intelligent Investor" by Benjamin Graham. He is kind of a downer, but an interesting read.
I have not read it, but the Motley Fool highly recommends it. Buffet has referred to the book as being the best ever written about investing.
Index funds. Bonds. Pay off your house. Control your debt. Won't get you rich, but getting rich is for the risk takers. I prefer getting enough to live on and enjoying my life without worrying about losing everything on a bad day!
I'm still waiting to see how things go when the fed stops giving away money. The market seems inflated as hell.
Yup. A great tool for building wealth. You can and should get more sophisticated as you get more, but for the average Joe, there's no better way.
Through my life, I have shaken my head at the following: Comic books baseball cards beanie babies Kinkaid Paintings Housing Market .com market How people can keep falling for the same shit over and over is beyond me.
I'm semi-guilty of the baseball card thing. I don't "invest" in them, they are just one of those things I think are cool. I can see the story lines of comic books being appealing. Housing/.com, that's just looking to make a quick buck that sales people have figured out how to use to manipulate idiots. For the others, yeah.
I also don't get people who swear by gold over the long-haul. All it's good for is to turn a short-term profit when the market is down. Hopefully I'll have some cash to take advantage of this next time around.
I am talking about investing in them. I have comic books and collected cards when i was a wee lad. But I knew a guy that would spend 100's of dollars buying boxes for "rare" cards. All because he thought he would be rich off them in 10 years. The comic book collapse in the 90's was the same thing. And it is all a get-rich-quick thing, where the people that start it, get in early and manipulate it make a killing. The people getting in late get left holding the bag and lose their life's savings. I just shake my head how people cannot see this. Gold is another one, Card. It has industrial value, but in the modern world, it is only "valuable" when people panic. For me, twice now, the stock market has "tanked" to 1/2 its value, and I sit there wishing I had a buttload of cash to throw into my index funds at that time. buy buy buy. But I am never liquid enough to do that
this man says the truth. it's not a coincidence that buffet's returns are 1/3 of what they were 30 years ago. the days of buying stocks below cash per share are long long gone.
Exactly. When the market tanks I love the ability to buy cheap; I look at it as an opportunity - especially when retirement is distant.
There's part of me that doesn't want to put another penny into retirement right now and just save it all up until the next recessions hits and buy all at once. I'm not going to, but part of me wants to.
