Rich Pawning Diamonds, Artwork; Cutting 'Jet' Time - Net Worth Shrinking

Quote from Brandonf:

I find it interesting that people here who want to be traders have such dislike of wealth and the wealthy. Maybe that explains part of the reason some people have so much problem finding success in the market in the first place is that on some level they don't want to belong to a class of people (the wealthy) that they resent.

You make a good point Brandon but I'd like to go deeper.

I've often remarked that the most successful traders I've know are super pricks.

It takes an obnoxious degree of self absorption to think you deserve eight or nine figures.

Most of us sub consciously hit a comfort wall. Some psychologists will say sons don't really want to out perform their fathers.

Even in athletics the “winners” have a jagoff air about them. Think Bonds, Jordan, A-Rod, Kobe. Even my hero Brett Farve. I read the other day that in three years Farve barely spoke to his backup Aaron Rogers. Even Vinny Chase with his patronizing "what now" line.

That's not to say winners aren't charming. All smart people can act. But deep down keeping ones riches is an act of egotism that few ultimately possess.
 
Quote from Pa(b)st Prime:

It's going to be very ugly.

I hear all these stories from different corners of the economy... that its a major macro swing down.

plus were headed into a Presidency of taxation....as if Oil hasn't taxed the american consumer enough..
 
Quote from marketsurfer:

what's your opinion on the VIX? Think it will stay pretty flat or head back to the March highs soon?

great article by the way on the ISEE index:
http://www.tradingmarkets.com/.site/options/how_to/articles/-77152.cfm

surf

Thank's Surf. Ya know the ISE contacted me and because they liked the article so much they put a link to the TM page on their site! :cool:

If we just mosey lower I presume the VIX will remain stable. I think we're entering a more stair step fashion on a new leg lower. The old school thing of lower highs, lower lows. Less extreme than 2002 or what we've seen when we roll over off swing highs. Every day bulls will see just enough micro strength to think it's safe to go back in the water.
 
Quote from Spectre2007:

I hear all these stories from different corners of the economy... that its a major macro swing down.

plus were headed into a Presidency of taxation....as if Oil hasn't taxed the american consumer enough..

No doubt Obama is weighing heavy on the market. Libs will never admit it (hell they're not smart enough to even notice it) but the oil rally commenced on the election of the Dem congress. It was like a megaphone"no new sources of American oil will EVER be developed".

I still see home prices in rich white areas holding up. They should. Gaining separation from the rioting masses is a price well worth paying.
 
Quote from marketsurfer:

brilliant publisher, mr. dennis.


Total assets

£1m-£2m The comfortable poor

£2m-£5m The comfortably off

£5m-£15m The comfortably wealthy

£15m-£40m The lesser rich

£40m-£75m The comfortably rich

£75m-£100m The rich

£100m-£200m The seriously rich

£200m-£400m The truly rich

£400m-£999m The filthy rich

More than £999m The super rich

© Felix Dennis 2006


...

By that standard, I am beyond destitute..

I'm a corpse with flies burrowing their eggs in me on a plain in Zambia.
 
Quote from Joab:



My dream was never to make money for myself but only to wield POWER.

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Natural diamonds are worth next to nothing...
Their worth is only measured in a woman's belief that it makes her look prettier. That is just twisted...
 
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