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- Thread starter BSAM
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Author of "Millionaire Next Door" dies in a car crash. His book was about thrift and frugality - he died in a Corvette.
Today's LA Times has and article about it and how unlikely it is that you will ever become that "Millionaire". I've always been at the lower rungs of the economic ladder and I started trading/investing back in 1996 with a tiny amount of money, $1,200 if I remember correctly. Since then I've had two blowout and one crisis that caused me to withdraw my money. So, while I haven't spent 18 continuous years in the market, I have been at it for a while.
And the best way to sum up my experience is "failure". At least so far. I will have a year with triple digit gains and then I'll have a year with a 40% loss. And the last few years have been bizarre with central bank meddling and 0% interest rates. It doesn't really offer much comfort to know that most stock pickers have done poorly in the last few years, some actively managed mutual funds have done worse than I have on my own, but comparing my results to the results of Wall Streeters won't increase my wealth.
Anyway - my point is that if someone had told me 18 years ago that there was practically no chance to lift myself into the upper economic strata of America, I would have scoffed and called them a Neggie Nellie. Now all I can do is shrug my shoulders and say, "So far it looks like you're right."
Here's the article: http://www.latimes.com/business/hil...e-next-door-dream-20150310-column.html#page=1
Today's LA Times has and article about it and how unlikely it is that you will ever become that "Millionaire". I've always been at the lower rungs of the economic ladder and I started trading/investing back in 1996 with a tiny amount of money, $1,200 if I remember correctly. Since then I've had two blowout and one crisis that caused me to withdraw my money. So, while I haven't spent 18 continuous years in the market, I have been at it for a while.
And the best way to sum up my experience is "failure". At least so far. I will have a year with triple digit gains and then I'll have a year with a 40% loss. And the last few years have been bizarre with central bank meddling and 0% interest rates. It doesn't really offer much comfort to know that most stock pickers have done poorly in the last few years, some actively managed mutual funds have done worse than I have on my own, but comparing my results to the results of Wall Streeters won't increase my wealth.
Anyway - my point is that if someone had told me 18 years ago that there was practically no chance to lift myself into the upper economic strata of America, I would have scoffed and called them a Neggie Nellie. Now all I can do is shrug my shoulders and say, "So far it looks like you're right."
Here's the article: http://www.latimes.com/business/hil...e-next-door-dream-20150310-column.html#page=1
.Author of "Millionaire Next Door" dies in a car crash. His book was about thrift and frugality - he died in a Corvette.
Today's LA Times has and article about it and how unlikely it is that you will ever become that "Millionaire". I've always been at the lower rungs of the economic ladder and I started trading/investing back in 1996 with a tiny amount of money, $1,200 if I remember correctly. Since then I've had two blowout and one crisis that caused me to withdraw my money. So, while I haven't spent 18 continuous years in the market, I have been at it for a while.
And the best way to sum up my experience is "failure". At least so far. I will have a year with triple digit gains and then I'll have a year with a 40% loss. And the last few years have been bizarre with central bank meddling and 0% interest rates. It doesn't really offer much comfort to know that most stock pickers have done poorly in the last few years, some actively managed mutual funds have done worse than I have on my own, but comparing my results to the results of Wall Streeters won't increase my wealth.
Anyway - my point is that if someone had told me 18 years ago that there was practically no chance to lift myself into the upper economic strata of America, I would have scoffed and called them a Neggie Nellie. Now all I can do is shrug my shoulders and say, "So far it looks like you're right."
Here's the article: http://www.latimes.com/business/hil...e-next-door-dream-20150310-column.html#page=1
Thank you for sharing your story.
My adventures in the markets have been a great lesson in life, very enlightening, i learned a ton about people, psychology, and mostly myself.
Although i'm deep into the red after years of trading, I have no regrets, i paid for knowledge and i think that's fair.. I m not bitter at all..
Right now I'm a break even trader struggling with demons.. like self-sabotage...
I think i can become profitable but I don't expect to get rich ever..