Loan Application - Why you must trade this market

[kmiklas]

I thought you mentioned the loan officer because you were taking out a loan?

I know a professional trader with a lot of experience who actually have stayed out of this market on selected days.

I would rather take out a loan if you can prove yourself profitable after one month of trading.

I did ask for a loan, with a probability of about 0.0000001 that he'd say yes.

I also wanted to inquire about starting a hedge fund/LLC, and also ask about the low-interest small business loans (which quite possibly will be forgiven) that T has been talking about.

 

[kmiklas]

You must be Dozu in disguise. How many virgins can you offer this time?

Folks, trading the bear market is very different from trading the bull market. In a bull market, you need only sit on your ass and you'll be more or less profitable. That's not the case in a bear market. More people will lose their shirt overnight than make a killing. Don't listen to this rubbish crap.

Up like an escalator, down like an elevator.

 

[Laissez Faire]

I did ask for a loan, with a probability of about 0.0000001 that he'd say yes.

I also wanted to inquire about starting a hedge fund/LLC, and also ask about the low-interest small business loans (which quite possibly will be forgiven) that T has been talking about.

Do you have a plan for what you want to do with the money if you get a loan? How big a loan are we talking about?

I'd add that if it's a small loan, i.e., something that you're not financiall ruined if blows up, it's a different matter.

There is at least one other thread here about a guy who took up a loan and where it didn't end well.

 

[Glenn88]

I did ask for a loan, with a probability of about 0.0000001 that he'd say yes.

I also wanted to inquire about starting a hedge fund/LLC, and also ask about the low-interest small business loans (which quite possibly will be forgiven) that T has been talking about.

Keep in mind that a shaky economy has forced some lenders to tighten their credit standards and examine applicants more closely )

 

[qlai]

Ok guys, we have absurdly low rates, Fed encouraging inflation, resilient economy, new generation of bold investors that are not afraid to buy the dips.

I think the time is right to do this! Will be looking to get the largest fixed loan I can get and doing The Wheel on it.

 

[Laissez Faire]

I think the time is right to do this! Will be looking to get the largest fixed loan I can get and doing The Wheel on it.

Do what?

At least wait for the dip. It will come.

 

[qlai]

At least wait for the dip.

I am more concerned about melt up than correction. If, and it’s a big if, inflation finally picks up steam and spills over to real estate, I may not be able to get comparable house.

 

[Sig]

I am more concerned about melt up than correction. If, and it’s a big if, inflation finally picks up steam and spills over to real estate, I may not be able to get comparable house.

If that's your ultimate concern, then investing directly or indirectly in real estate is a far more sensible option.

 

[Laissez Faire]

I am more concerned about melt up than correction. If, and it’s a big if, inflation finally picks up steam and spills over to real estate, I may not be able to get comparable house.

I think that kind of greed and FOMO is common around market tops.

Runaway inflation was supposed to happen following the first QE, too. Of course, the stock market increased massively since then.

What kind of emotions do you think people were feeling at these prior tops? I'm not saying we will crash, but we should eventually see a decent correction. If I were investing borrowed money (usually not a good idea), I would certainly not do it at a market top.

 

[qlai]

investing directly or indirectly in real estate is a far more sensible option.

Well, that’s what I am sort of doing. My current house is paid off and the equity is dormant. So the idea is to buy a more expensive house with the largest mortgage at lowest rates. Take the proceeds from old house and put into PM trading account. If inflation picks up, I should do well in both real estate and stocks. The worst case - both real estate and stocks take a hit and my wheel stops producing income (meaning I am seating in a draw down) and I loose my job. That would mean I would have to close my regular trading accounts to reduce cash flow bleed. I think I can take that risk.