Chavez makes stocks drop

jlew24asu

soulsinging wrote:

ah, thus your logic is revealed. you need to invest to maintain a flashy, high profile lifestyle with a brand new luxury sedan every year. my father is a lawyer at such a firm and doesn't own a single pair of $400 shoes or a $2000 suits. his car is nice, but not huge and their mortgage is almost paid off. yeah, if you wanna live like a king you've got to play the market. but guess what? im a big fan of this little trick called living within one's means... where i dont need to drop thousands on the hottest and most stylish clothes to satisfy my ego.

this post shows you dont have a sound understanding of how the rest of the country lives and operates... the majority that isnt living in the lap of luxury and complaining about how hard it is to be in the richest 1% of human beings in the world.

but great job projecting your lifestyle demands onto me.

also, this does not at all respond to my point about how playing stocks only benefits the already-wealthy. nobody is moving from the ghetto to the suburbs based on stock speculation. it's solely a game for the rich to get richer at the expense of the suckers who buy into bullshit like yours about how anyone can make a fortune playing the market.

maybe some of us enjoy the finer things in life.

soulsinging

jlew24asu wrote:

hit it big? what does that mean? people buy stocks or seek intelligent investment professionals to invest their money wisely, usually for the longterm. are you that guy who puts all his money underneath your mattress?

100% not true. your definition of big money is not the same as everyone else.

again, you really have no clue what you are talking about. a "few" middle class people? I consider myself middle class. I make decent money for being in my mid 20s. I invest several different companies by buying their stock. when I retire in say 30 years, I will be able to sell my ownership of those companies (stock) at a much higher price and keep all the profit. how is that not beneficial to me?

its called a budget. people can choose to either spend their money, or in your case hide it under your mattress, or invest it. it doesnt matter what that dollar amount is.

when you buy stock in the company, you are now part owner of that company. % of ownership is based on the # of shares you have. smart people usually know what companies they put their money in and have a vested interest in what that company does.

you're still down to middle class. what is the stock market doing for the bottom 90% of the country besides scamming them? they take money from people who cannot afford to hire pricey counsel to invest for them and take them to the cleaners and charge them a fee to do it. they're worse than personal injury lawyers.

im aware of what a budget is. i still think the stock market is a means for the wealthy to increase their wealth at the expense of the poor.

how does investing in a company equate to any sort of voting? it's got nothing to do withpolitics, and as far as i know, buying stock does not give you a vote on any boards or anything.

soulsinging

jlew24asu wrote:

maybe some of us enjoy the finer things in life.

perhaps. but dont tell me the stock market is a wonderful and all-important resource that everyone benefits from and should praise when we both know it's just another means to make rich people even richer. it does nothing to secure the financial well-being of the vast majority of US citizens, and in many cases seriously undermines their well-being. chavez nationalizing this telecom giant is not some huge blow to all people everywhere, it's a sucker punch to a bunch of rich folks whose portfolios are going to take a hit from it. and im sorry, but i have trouble feeling sympathy for them.

miller8966

soulsinging wrote:

ah, thus your logic is revealed. you need to invest to maintain a flashy, high profile lifestyle with a brand new luxury sedan every year. .

O man are you clueless...your probaly going to need him because hes a FINANCIAl analyst and when your in your 40's and realize," o fuck i have no money put away for when i retire", your going to be wishing you listened to jeff.

floyd1975

Rushlimbo wrote:

LOL. You have no idea what you are babbling on about. No idea whatsoever.

You probably wouldn't want to expand on this little "statement" here, would you? Or, better yet, could you?

soulsinging

miller8966 wrote:

O man are you clueless...your probaly going to need him because hes a FINANCIAl analyst and when your in your 40's and realize," o fuck i have no money put away for when i retire", your going to be wishing you listened to jeff.

i fully intend to have plenty of money set aside for retirement AND for my children's college expenses.

miller8966

soulsinging wrote:

i fully intend to have plenty of money set aside for retirement AND for my children's college expenses.

You do that; ill put my money in stocks with growth and a solid yearly return

CorporateWhore

Venezuela's economy is going to go down the shitter, hahaha. Socialism rules!!

soulsinging

miller8966 wrote:

You do that; ill put my money in stocks with growth and a solid yearly return

here's hoping you dont let your greed go to your head and buy stock in a company even greedier thann you... hate to see your money go the way of all the poor saps who bought into enron. though that would be amusingly poetic justice.

jlew24asu

soulsinging wrote:

you're still down to middle class. what is the stock market doing for the bottom 90% of the country besides scamming them?

so upper class is 5% middle class is 5% and the rest is the bottom 90%? I still dont see how investing in a Dow Stock is getting smammed? whats the scam?

soulsinging wrote:

they take money from people who cannot afford to hire pricey counsel to invest for them and take them to the cleaners and charge them a fee to do it. they're worse than personal injury lawyers.

who is "they"?

soulsinging wrote:

im aware of what a budget is. i still think the stock market is a means for the wealthy to increase their wealth at the expense of the poor.

do you have a job? do you make a salary? if not, there are many people who do. many people work for public traded companies. and 401K. which invests in stocks among other things. even people who arent "wealthy" make from 20k-80k year who take a % from every pay check and invest directly in stocks. how are they getting scammed? most stock indexes are up between 4-10% historically every year. except 1929, 1987, etc.

soulsinging wrote:

how does investing in a company equate to any sort of voting?

because you dont understand stock ownership. http://en.wikipedia.org/wiki/Stock

A stockholder is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company. Companies listed at the stock market strive to enhance shareholder value.

Shareholders are granted special privileges depending on the class of stock, including the right to vote (usually one vote per share owned) on matters such as elections to the board of directors, the right to share in distributions of the company's income, the right to purchase new shares issued by the company, and the right to a company's assets during a liquidation of the company

miller8966

soulsinging wrote:

here's hoping you dont let your greed go to your head and buy stock in a company even greedier thann you... hate to see your money go the way of all the poor saps who bought into enron. though that would be amusingly poetic justice.

Do you think everyone that invests in the economy is investing in a company like enron? Its called a mutual fund..i pool my money because im not market savvy(least not yet) enough to drop 10 grand on a stock. So i invest in a whole assortment of things, and i also put my money in a cd, and not to forget my savings account and my 401k that i have with my company ( which my company matches).

Its not greed buddy..its called thinking

jlew24asu

soulsinging wrote:

i fully intend to have plenty of money set aside for retirement AND for my children's college expenses.

really? please, give us all your secret. how do you plan on doing this? put 20 bucks from each paycheck under your mattress?

miller8966

jlew24asu wrote:

really? please, give us all your secret. how do you plan on doing this? put 20 bucks from each paycheck under your mattress?

I think he has a piggy bank

jlew24asu

miller8966 wrote:

I think he has a piggy bank

I'm gonna have get one of those

CorporateWhore

soulsinging wrote:

here's hoping you dont let your greed go to your head and buy stock in a company even greedier thann you... hate to see your money go the way of all the poor saps who bought into enron. though that would be amusingly poetic justice.

It's called diversifying your portfolio.

No serious investor puts most of their money into one company. There's too much unique risk. Now, going on basic market risk, one can only stand to gain in the long-term, based on historical data on the market.

jeffbr

soulsinging wrote:

ah, thus your logic is revealed. you need to invest to maintain a flashy, high profile lifestyle with a brand new luxury sedan every year. my father is a lawyer at such a firm and doesn't own a single pair of $400 shoes or a $2000 suits. his car is nice, but not huge and their mortgage is almost paid off. yeah, if you wanna live like a king you've got to play the market. but guess what? im a big fan of this little trick called living within one's means... where i dont need to drop thousands on the hottest and most stylish clothes to satisfy my ego.

You implied that because you were going to earn a 6 figure income you were set. I merely contend that it isn't the case. There are plenty of 6 figure income folks living paycheck to paycheck. My advice to you is simply to think about your future. You aren't going to save for the future putting the money in a savings account where inflation outpaces interest rates. This all seems so new to you, but in 2 years from now you'll understand the wisdom I'm imparting. You're just starting. I've already made mine. I have nothing to gain by giving you advice except to keep you from the welfare/social security roles. That's it.

soulsinging wrote:

this post shows you dont have a sound understanding of how the rest of the country lives and operates... the majority that isnt living in the lap of luxury and complaining about how hard it is to be in the richest 1% of human beings in the world.

but great job projecting your lifestyle demands onto me.

Although I have made a quite comfortable living for myself, I am modest in my lifesyle demands. I am a jeans and t-shirt kind of guy. No flash here.

soulsinging wrote:

also, this does not at all respond to my point about how playing stocks only benefits the already-wealthy. nobody is moving from the ghetto to the suburbs based on stock speculation. it's solely a game for the rich to get richer at the expense of the suckers who buy into bullshit like yours about how anyone can make a fortune playing the market.

I'll directly respond to your point, then: people from all economic strata are in the market. Some are in it with $2,000 in a Charles Schwab account. Some are in it with their company's retirement plan. Some set aside 10% - 20% of their pay in a 401K plan that they administer or have someone else watch. Others have fortunes invested. There are plenty of non-wealthy people invested in the market. It is absolutely NOT a game for the rich only. Actually, it is not a game at all. It sounds to me like you have spent too much time squandering your part-time paychecks. I understand you're still a student, but you really need to start talking to someone about a financial plan as soon as you are ready to start your career.

soulsinging

jlew24asu wrote:

really? please, give us all your secret. how do you plan on doing this? put 20 bucks from each paycheck under your mattress?

bank accounts.

soulsinging

jlew24asu wrote:

so upper class is 5% middle class is 5% and the rest is the bottom 90%? I still dont see how investing in a Dow Stock is getting smammed? whats the scam?

who is "they"?

do you have a job? do you make a salary? if not, there are many people who do. many people work for public traded companies. and 401K. which invests in stocks among other things. even people who arent "wealthy" make from 20k-80k year who take a % from every pay check and invest directly in stocks. how are they getting scammed? most stock indexes are up between 4-10% historically every year. except 1929, 1987, etc.


because you dont understand stock ownership. http://en.wikipedia.org/wiki/Stock

A stockholder is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company. Companies listed at the stock market strive to enhance shareholder value.

Shareholders are granted special privileges depending on the class of stock, including the right to vote (usually one vote per share owned) on matters such as elections to the board of directors, the right to share in distributions of the company's income, the right to purchase new shares issued by the company, and the right to a company's assets during a liquidation of the company

you've never seen that stat about the wealthiest 10% of this country owning 90% of the resources?

regardless of your financial savvy, yo've still never once responded to my argument. sure, you can make money in the stock market. the literal fact of that is indisputable. what i was challenging from moment one is why i should be shedding tears over poor verizon right now.

CorporateWhore

What a surprise: you guys are right wingers and you know something about the stock market!

Haha, we can't help loving the capitalist system. The stock market has made so many millionaires. God bless it.

jeffbr

soulsinging wrote:

bank accounts.

What will be the return on your money? What will be the net return after inflation is factored in? Perhaps you could set aside a few bills to set on fire while you're at it.