150 millionaires say getting rich boils down to a 3-step formula

[murray t turtle]

TWO step formula :

1. don't invest now !!! only invest around end of recession / beginning of bull run
2. trade now!!!

%%
IBD founder was very good/profitable at timing + trading + investing + data sales/neWspaper+ mutual fund manager+ selective buy new highs/cutting losses .............. But most stock market millionaires do it by investing for the long term persistently/ mutual funds, every month/200 year + uptrend.

As far as trading; OK ,shorts most likely made more on TSLA, than longs - but post market + OCT close may or may not change that. NOT a prediction., LOL.[ NO way would i ever buy TSLA, longs, the autos or stock]

 

[dozu888]

I see some people don't like blogs lol - bloggers don't have to be millionaires themselves... just like the surgeon who operate on your cancer doesn't need to have cancer himself to qualify.

all are good points, and in tune with what I have been posting - get that earning potential up first.... this is the best job market ever.

and I see lots of sour grapes on the stock market lol - people who are empty handed, missing the long bull, are now very very jello... meanwhile Fidelity just reported 401k/IRA milllionaires at all time high... it's a real wealth builder... but lots of people missed the rally and are butt hurt.

it's not too late... stocks are still dirt cheap and has minimum 40% to run, maximum a double for the SPY yield to catch down on the LQD yield, otherwise corporations will just keep buying back.. finance at 3% with bonds, then buy back SPY yielding 5.5% huge 2.5% spread for free.... a real argument with real numbers, unlike some people can only count fingers - bull is 10 years old, must be due for a crash... not so fast, why not use your toes as well.

and by the way, technically speaking the October 2018 drop peak to trough was 20.18%, so we are already in a new bull lol.

unreal how jello people are lol.

 

[GRULSTMRNN]

I think the jealousy issue you just pulled out of your bleeding butthole. Perhaps you try to read others' posts more carefully to get their points. It's an incredibly stupid argument to say that there is a record number of new investment millionaires. Sure, perhaps from the low base it started off from. Issue is that overall most in your country can't even participate in meaningful savings and investing for retirement. They are too poor financing your hundreds of billion dollar annual military complex and other useless expenses that were paid for through sky high taxation. I see guys like you at the end of every bull market. Big, fat, loud guys. They are never heard from again after the first 10-20% drop.

I see some people don't like blogs lol - bloggers don't have to be millionaires themselves... just like the surgeon who operate on your cancer doesn't need to have cancer himself to qualify.

all are good points, and in tune with what I have been posting - get that earning potential up first.... this is the best job market ever.

and I see lots of sour grapes on the stock market lol - people who are empty handed, missing the long bull, are now very very jello... meanwhile Fidelity just reported 401k/IRA milllionaires at all time high... it's a real wealth builder... but lots of people missed the rally and are butt hurt.

it's not too late... stocks are still dirt cheap and has minimum 40% to run, maximum a double for the SPY yield to catch down on the LQD yield, otherwise corporations will just keep buying back.. finance at 3% with bonds, then buy back SPY yielding 5.5% huge 2.5% spread for free.... a real argument with real numbers, unlike some people can only count fingers - bull is 10 years old, must be due for a crash... not so fast, why not use your toes as well.

and by the way, technically speaking the October 2018 drop peak to trough was 20.18%, so we are already in a new bull lol.

unreal how jello people are lol.

 

[Overnight]

...

...the October 2018 drop peak to trough was 20.18%,...

Now THAT is irony!

 

[dozu888]

I think the jealousy issue you just pulled out of your bleeding butthole. Perhaps you try to read others' posts more carefully to get their points. It's an incredibly stupid argument to say that there is a record number of new investment millionaires. Sure, perhaps from the low base it started off from. Issue is that overall most in your country can't even participate in meaningful savings and investing for retirement. They are too poor financing your hundreds of billion dollar annual military complex and other useless expenses that were paid for through sky high taxation. I see guys like you at the end of every bull market. Big, fat, loud guys. They are never heard from again after the first 10-20% drop.

well - still jello lol.

 

[dozu888]

Now THAT is irony!

I know, right?

Now we all know (well, except the jello few lol), that Dow is going to 40000 soon just to catch down on the yield gap... but if I put my 'pro boy conspiracy' thinking cap on, I think once they get the push going, they will tell the public about the 20.18% and say - looksie - this is a NEW bull market, come in come in!

 

[dozu888]

Now THAT is irony!

also, even discounting oct 2018, the bull is still not 10 years old... the drop in 2011 peak to trough was 21.58%.

yet some guy said I would disappear after the first 20% down.. search all my posts thru the years.. always been bullish since about March 2009 when some emerging market ETFs showed signs of bottoming... but the true all-in was more like around 2014 ish, when stocks got clearly cheaper than bonds.

 

[GRULSTMRNN]

You are not grasping the topic of the thread my friend, it's about advice how to invest. Nobody denied the existence of bull markets. Nobody either denied the existence of a current bull market. I also believe markets trade up until the QE era ends. But that's not the point. I made the point that buying at fixed time intervals, which often times enough coincides buying into red hot markets, is inferior to investing at market corrections.

also, even discounting oct 2018, the bull is still not 10 years old... the drop in 2011 peak to trough was 21.58%.

yet some guy said I would disappear after the first 20% down.. search all my posts thru the years.. always been bullish since about March 2009 when some emerging market ETFs showed signs of bottoming... but the true all-in was more like around 2014 ish, when stocks got clearly cheaper than bonds.

 

[maxinger]

MY TWO - STEPS FORMULA :


1. DON'T INVEST NOW !! ONLY INVEST ONCE A DECADE !!!
I only invest in properties during end of recession / start of bull run.
And I sell it few years later.
The big economic cycle is one decade. So you can do this every decade.
Don't invest in stocks ( since I am a day trader ).

When is recession? Recession starts when
- lawyers for bankruptcy cases are very busy
- goods / services getting cheaper and cheaper
- many people become jobless because businesses are shrinking
ie supply > demand

Recession is coming. So get ready to INVEST in properties.

2. TRADE NOW!!! DAY TRADE EVERYDAY !!!
Because every trading day is good day for trading.

 

[dozu888]

You are not grasping the topic of the thread my friend, it's about advice how to invest. Nobody denied the existence of bull markets. Nobody either denied the existence of a current bull market. I also believe markets trade up until the QE era ends. But that's not the point. I made the point that buying at fixed time intervals, which often times enough coincides buying into red hot markets, is inferior to investing at market corrections.

ok, even if that is your point - the math is still not right.

yes, buying after a correction is a known edge... I do that too, have a small % of cash on hand for that purpose... 12 month return after vix hits 30 has about a 5% extra return on the historical average.

problem is you don't know how long you have to wait before the correction comes - the execution is not as easy as it sounds.... due to the interval volatility, instead of the average mom and pop just put a few bucks into the 401k, now that cash needs to accumulate for who knows how long and then how do they buy in? lump sum at 10% correction? or save some for 20% down? you are opening up a can of worm even experienced investors may not be able to handle.

401k/ira participation is fairly high among the middle class and it has produced millionaires and that is a fact.

of course there are many poor people who can't participate, but that will exist regardless.

and just think this way - if it were that easy, just buy after 10% down, why can virtually zero managers beat the qqq?