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Just a few observations. First, at the age of 29 you are hardly at the end of your life, or even within sight of it. By the way, I think I'm particularly qualified to make this observation: I'll be 61 in a few weeks. I mention this because one of the problems you appear to have right now...

Why should he retire when there's still a bunch of young guys like yourself around to take money from? Maybe you should contact T. Boone Pickens, one of the top hedge fund managers in your article, age 70+, and tell him you think he should retire. LOL! OldTrader

If all I had to trade with was $5K, I would quit. It's not enough to trade stocks in my opinion. There is no prerequisite that you start with a small amount of money to "lose it" to learn something. Better to put your $5K in the bank, and save some more. I think the best amount to start is...

Yep, I'd fool em. Quit trading options. Easier ways to make money than options in my opinion. OldTrader

Can anyone imagine the nightmare that this "wanker" would cause if IB actually agreed to divide the $2K between multiple offenders? I'm sure he would want to verify each offender. OldTrader

Excellent post! I completely agree. I only worry about being unkind to the other "wankers" of the world. LOL! OldTrader

Most civil matters of this type hinge around what is in writing. To evaluate this your best bet would be to consult a lawyer. Most contracts describe what happens when/if the contract is terminated. If yours doesn't, they have a problem. But again, have a lawyer evaluate the actual contract...

You could short index futures. It might also be possible to short single stock futures....you might want to check on that though. OldTrader

Actually, there is nothing in the original quote that implies the borrower can't "afford" the loan. The original quote is regarding 0 down. Affordability has to do with whether one can service the loan monthly (which is a function of monthly income versus the monthly payment and other monthly...

In California the lender can take the house but has no further recourse on residential purchase money loans. But the borrower still has all of the typical zero down programs available anywhere else. As someone else mentioned, the lender will require mortgage insurance, which insures down to...

I moved to the Midwest from Orange County in the early 90's. Frankly, I can't recall a time when you could have bought and rented at similar prices in Orange County. Yet, people have made a great deal of money in Orange County as you know, I daresay more than most folks in the Midwest have...

That's right my friend. Rent is higher than the equivalent mortgage payment in good part of the Midwest. Probably in large parts of the South. That's why these generalized discussions of real estate are usually off base, because a guy from San Francisco believes every other place in the US...

My problem? You mean other than the several snide shots you've taken at me in the course of this thread? That said, seeking out expertise is always a good idea. You might try Marshall and Swift if you are truly interested in repair data. OldTrader

I didn't think the article made the claim that all home-based traders are "amatuers". I think the article compared some of the distinctions between professionals and amateurs, wherever they may be trading. Amateurs are likely to be home-based in my view....but I didn't get the impression he...

There's a point, IF you believe that houses and tech stocks are similar....I don't. But time will tell. Certainly one thing is true....there was a type of mania in certain parts of the US in terms of the housing. And there was mania in terms of tech stocks. I doubt that implies that...

Let's face it, you're delighted to defer to anyone who supports your argument....like your Dad or your friend. OldTrader

Tell you what...why don't you post your own expertise. So far all we know is what your Dad did, and that a friend thought it was reasonable. Sheesh. OldTrader

The LA market peaked in 1989. When it hit bottom a few years later it was down about 33%, not half. The houses are now up big from the peak, let alone the bottom. It's all just a question of how long you hold and how well you bought it to start with. OldTrader

I'm in the Midwest. That $2K job I did a year ago I had bids from $1K to $3K. I picked one of the middle bids. From the Home Repair and Remodel Guide by Marshall and Swift, I'd say you could get the exterior painted for $1 per square foot. And that would be high. OldTrader

Got a 3 story house painted a year ago for about $2K. About to get anther similar sized house painted soon for $2500. Talking about just the exterior. For a small house $6K is alot if you're talking exterior. OldTrader