Rich Pawning Diamonds, Artwork; Cutting 'Jet' Time - Net Worth Shrinking
- Thread starter ByLoSellHi
- Start date
Quote from SH_DW:
I am closing 3 businesses! Taking the cash overseas with me to find better opportunities there.
There will be approx 50 employees that will be jobless.. and I will not be creating any more jobs (..lets be clear, it's me and the entrepreneurial types that build businesses +create jobs.. the government will tax YOU and give someone non-producing, regulatory type work).
So THIS is what your tax increases will bring..
Lower taxes.. and I will return!
why not keep your businesses running, then go overseas to find opps?
There are plenty of people taking risks like Mr. Dennis, but you only hear about the winners not the ones who went broke
many wealthy people have gone broke numerous time in their lives. broke is temporary for the wealthy mindset.
in fact, if you don't go broke once or more, your simply not risking enough to ever make anything ( unless your extraordinarily lucky)-- this is if your starting from the lower/middle classes.
yeah, you can save a couple mill and be in the Dentist/shop keeper comfortably poor category when your in your 70's--without much risk, but death is near and you never had much fun. i know a rich guy who saved every penny, lived like a pauper, died rich--now his heirs fight over the estate... terrible way to go.
surf
I agree you have to love to lose.
you need to learn to lose.
not love to lose.
but i understand what you mean.
surf
these stories are of a bear market/depression era style nature..........
keep your eyes open for '87 style crash....
keep your eyes open for '87 style crash....
Surf: James is mentioning an old CBOT trading rule. You must LOVE to lose.
Know why? Because we all love to win. Can't help not to, eh.
However the second one get's more of an emotional kick out of winning than losing he'll do everything he can to avoid taking losses.
Not taking quick losses is really just pain avoidance. If you love all outcomes equally then emotional detachment is a piece of cake.
Me, I hate losing.
James get's it. (he's one bright guy)
I don't think the markets long enough nor expensive enough for an ipso facto revalue. A 6 month to a year grind lower is more likely. This is the 70's. We already had the 20's-30's from 96-2002.
2009 ARM's readjustment another nail in the coffin....