Stop paying credit cards. Give yourself a bailout!!

[Eric215]

Quote from ElCubano:

ok let me try one more time for the slow people....I am not talking about him making or losing money. I am talking about what label they might give him had he made money ( genius ) and what actually hapened ( loser) ...get it...I was replying to a poster ..perhaps you should read before replying...

I'm still not sure I understand what your getting at. And I mean this with all due respect. If your friend had invested in real estate 1-1.5 years earlier like you state he would still have more then likely lost and been seen as a "loser" like you see it. This is because he clearly did not see the bubble in housing so he would have continued to invest his money earned from the investments 1.5 years ago. In the end he would have still lost, he just would have lost more. A good investor, or a "genius" as you might call him/her, would not invest in a bubble market, no matter when they initially invest. So the timing aspect was not the reason your buddy was not seen as a genius. He was not seen as a genius because he clearly isn't one (at least in respect to real estate investing) or he would not have invested in the bubble at all.

Buy hey either way I do sympathize with your friend and I hope he is doing well.

 

[ElCubano]

Quote from Eric215:

I'm still not sure I understand what your getting at. And I mean this with all due respect. If your friend had invested in real estate 1-1.5 years earlier like you state he would still have more then likely lost and been seen as a "loser" like you see it. This is because he clearly did not see the bubble in housing so he would have continued to invest his money earned from the investments 1.5 years ago. In the end he would have still lost, he just would have lost more. A good investor, or a "genius" as you might call him/her, would not invest in a bubble market, no matter when they initially invest. So the timing aspect was not the reason your buddy was not seen as a genius. He was not seen as a genius because he clearly isn't one (at least in respect to real estate investing) or he would not have invested in the bubble at all.

Buy hey either way I do sympathize with your friend and I hope he is doing well.

So Warren is a genius because he made billions in the market?? how about had he lost all his money? I guess ur right he would still be labeled a genius...although we would have never heard of him....peace

 

[Eric215]

Quote from ElCubano:

So Warren is a genius because he made billions in the market?? how about had he lost all his money? I guess ur right he would still be labeled a genius...although we would have never heard of him....peace

To be labeled a genius in any field you have to show outsized success. In physics that might be a new way to understand how gravity works, in math it might be a new complex formula that can prove why birds always fly in unison, and in investing it would surly be measured in long term consistent gains that beat the respective market. So Buffett could be considered a genius because he makes long term consistent gains that beat the market, and he makes long term consistent gains that beat the market BECAUSE he is a genius. The two are inseparable. So you can't really say that he would still be considered a genius if he lost money because he didn't. That's like saying "So if the sky was green it would still be called blue". That statement would not make sense because the sky IS blue. Look, the point is is that your friend would not have ever been called a genius because he simply doesn't invest like a genius. It doesn't have anything to do with the timing of when he invested or anything else, it's just because it was him doing the investing. The only defense that he could really have is to say "I would have exited all my real estate deals before the bubble burst." But because he did invest so late in the bubble, and then continued to invest more, it shows that he more then likely would not have exited. Someone doesn't just accidentally sell real estate, it is a very conscious and deliberate decision.

Geez, I have to much time on my hands today.

 

[MandelbrotSet]

Quote from ElCubano:

consistently...hog wash. Had he made millions on 400k investment and walked away forever...he'd be a genius...

who is more of a genius...the dot com traders who made millions and walked away or the ones who made millions and then lost it back to the market...you can take consistent and shove it up your ass at that point...peace..

Your friend had balls, and I think everyone here who is going to be putting on real trades in the market come Monday morning respects him for the calculated risks he took and the fact that he was trying to "get it all".

Anything else is Monday Night Quarterbacking, Backseat Driving and Mental Masturbation Fantasy Dating.

 

[Eric215]

Quote from MandelbrotSet:

Your friend had balls, and I think everyone here who is going to be putting on real trades in the market come Monday morning respects him for the calculated risks he took and the fact that he was trying to "get it all".

Anything else is Monday Night Quarterbacking, Backseat Driving and Mental Masturbation Fantasy Dating.

No offense, but calculated risk? He bought real estate at the the peak of a historic housing bubble. If you call that calculated risk you may want to have someone else manage your money. I will give you the fact that he had balls. I will even add that he probably has some heart too. Like going all-in with nothing in a poker tournament. However, when investing large sums of money, especially the man's entire net worth, timing is everything.

 

[Fractals 'R Us]

You are making it your business to be an idiot and you insist on pushing this conventional wisdom on to everybody that reads these forums.. I go to my bank, I cash my checks, I use my debit card... the bank is not cooperating with the collections guys, go figure, since collectors are such a bunch of criminals and it's illegal for nearly all institutions public or private to share info... I don't fill out questionaires or contest forms at the mall at all

I don't think anybody has told me one fricking thing I can't do without credit and with bad credit, other than give my address to somebody that would be selling such info to collections people... other than get a loan. I sure as hell don't need a loan now, I have no payments other than utilities...

Wifey had a shitty attitude like yours. She would not cooperate with me in dodging the collections guys but I think she realized that what I was going to do if they catch up with me is let them put a lien on a rental that is half hers. She had a change of heart about those mean old collectors and so should you cause mean people just suck...

Quote from Trader666:

Is that why you can't even cash a check on your own now? Because you weren't in the right place at the right time?

 

[Trader666]

I'm pushing "conventional wisdom?" you've read one too many Jack Hershey posts and I think it's rotted your brain.

Hmmm... last month you said you can't open a bank account but now all that's changed? OK, whatever you say lol... next you'll claim you're a profitable trader

Quote from Fractals 'R Us:

you insist on pushing this conventional wisdom on to everybody that reads these forums.. I go to my bank, I cash my checks, I use my debit card... the bank is not cooperating with the collections guys, go figure, since collectors are such a bunch of criminals and it's illegal for nearly all institutions public or private to share info... I don't fill out questionaires or contest forms at the mall at all

 

[Fractals 'R Us]

Trader666 is hell bent on twisting things forever. Why is Trader666 not circumcised people ask... it's because there is no end to the prick !!

He thinks Jack Hershey coined the term conventional wisdom... dude learned everything he knows from ET. What a tool...

To the ignore list... so many sickies so little time to read their posts...

Peace bro...

Quote from Trader666:

I'm pushing "conventional wisdom?" you've read one too many Jack Hershey posts and I think it's rotted your brain.

Hmmm... last month you said you can't open a bank account but now all that's changed? OK, whatever you say lol... next you'll claim you're a profitable trader

 

[ElCubano]

Quote from Eric215:

To be labeled a genius in any field you have to show outsized success.

thats your definition and perhaps mine...but perhaps not for the majority of the world....all the cuban traders i knew from broadway made millions "the cuban row" they used to call them...they neither knew how to trade or what a chart meant...they just put it all on the line at the best possible moment in time....they may be considered geinuses by their peers....that's all im saying...peace

by your definition Mark Cuban is a genius.... basically the fact that he sold at the top of one of the biggest bubbles I have witnessed had nothing to do with it...don't come back that he timed that sale perfect either...The bubble added 100's of millions to the price of his company out of thin air...peace

 

[Trader666]

I'm twisting things? Is that because I caught you in this? :eek:

What are you going to tell us next? How profitably you trade?

Quote from Fractals 'R Us:
04-25-09 12:48 AM
I go to my bank, I cash my checks, I use my debit card... the bank is not cooperating with the collections guys, go figure, since collectors are such a bunch of criminals and it's illegal for nearly all institutions public or private to share info... I don't fill out questionaires or contest forms at the mall at all

Quote from Fractals 'R Us:
03-27-09 11:45 AM
When I defaulted this last time I already could not get a checking account. I complained publicly, via the web, about a bank I was using and they changed a digit or two in my SSI number and reported me to some frigging agency or some shit that I don't understand.... and after that, I can't open an account with a bank !! And legally, no banker is allowed to tell me about it !! So I said, f%$k banks and their shitty little credit cards too... guess what, opening a trading account is not a problem, I can't open a bank account but I can open a trading account....