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XBoxBoy
Participant[quote=peterb]The govt’s going to have to spend at least $20T to hurt the US$. [/quote]
Care to explain where you got the $20T figure from and what your thinking is on this topic?
XBoxBoy
Participant[quote=peterb]The govt’s going to have to spend at least $20T to hurt the US$. [/quote]
Care to explain where you got the $20T figure from and what your thinking is on this topic?
XBoxBoy
Participant[quote=4plexowner]My current strategy is to stay the hell out of Wall Street’s games and protect my assets – in 2008 that strategy kept me from losing 40-50% in equities while both of my gold coins increased in value by 5%[/quote]
4plexowner – that’s what I did too, and it seems to have worked out pretty well. So, I suggest staying with what’s working. Everyone I know who has played wall street’s games ultimately gets burned. Better to just not be in that game.
One thing I believe is to question what people tell you, particularly thoughts that become conventional wisdom. Seems most people believe that if they have some savings, they should be able to invest and make lots of money all with low risk. Well, I’d question that! How is that possible?
It seems to me it would only be possible if there were more low risk investments that provided great returns then there was available capital to service those investments. But it seems abundantly clear to me that there is far more capital than low risk investments with good returns. Given that simple supply and demand equation, the only way I think that you can move away from a very modest return is to take on more risk. Lots more risk in most cases. And it seems to me that wall street’s biggest game is to sell products with lots of risk as low risk great investments. And indeed that seems to be what happened in recent years that lead to lots of people seeing their portfolios getting clobbered.
Thus, for me it’s much more important to protect my assets than to risk them for a better return. I may not have the excitement of a trade that doubles in value, but I also don’t have all the losses either.
XBoxBoy
Participant[quote=4plexowner]My current strategy is to stay the hell out of Wall Street’s games and protect my assets – in 2008 that strategy kept me from losing 40-50% in equities while both of my gold coins increased in value by 5%[/quote]
4plexowner – that’s what I did too, and it seems to have worked out pretty well. So, I suggest staying with what’s working. Everyone I know who has played wall street’s games ultimately gets burned. Better to just not be in that game.
One thing I believe is to question what people tell you, particularly thoughts that become conventional wisdom. Seems most people believe that if they have some savings, they should be able to invest and make lots of money all with low risk. Well, I’d question that! How is that possible?
It seems to me it would only be possible if there were more low risk investments that provided great returns then there was available capital to service those investments. But it seems abundantly clear to me that there is far more capital than low risk investments with good returns. Given that simple supply and demand equation, the only way I think that you can move away from a very modest return is to take on more risk. Lots more risk in most cases. And it seems to me that wall street’s biggest game is to sell products with lots of risk as low risk great investments. And indeed that seems to be what happened in recent years that lead to lots of people seeing their portfolios getting clobbered.
Thus, for me it’s much more important to protect my assets than to risk them for a better return. I may not have the excitement of a trade that doubles in value, but I also don’t have all the losses either.
XBoxBoy
Participant[quote=4plexowner]My current strategy is to stay the hell out of Wall Street’s games and protect my assets – in 2008 that strategy kept me from losing 40-50% in equities while both of my gold coins increased in value by 5%[/quote]
4plexowner – that’s what I did too, and it seems to have worked out pretty well. So, I suggest staying with what’s working. Everyone I know who has played wall street’s games ultimately gets burned. Better to just not be in that game.
One thing I believe is to question what people tell you, particularly thoughts that become conventional wisdom. Seems most people believe that if they have some savings, they should be able to invest and make lots of money all with low risk. Well, I’d question that! How is that possible?
It seems to me it would only be possible if there were more low risk investments that provided great returns then there was available capital to service those investments. But it seems abundantly clear to me that there is far more capital than low risk investments with good returns. Given that simple supply and demand equation, the only way I think that you can move away from a very modest return is to take on more risk. Lots more risk in most cases. And it seems to me that wall street’s biggest game is to sell products with lots of risk as low risk great investments. And indeed that seems to be what happened in recent years that lead to lots of people seeing their portfolios getting clobbered.
Thus, for me it’s much more important to protect my assets than to risk them for a better return. I may not have the excitement of a trade that doubles in value, but I also don’t have all the losses either.
XBoxBoy
Participant[quote=4plexowner]My current strategy is to stay the hell out of Wall Street’s games and protect my assets – in 2008 that strategy kept me from losing 40-50% in equities while both of my gold coins increased in value by 5%[/quote]
4plexowner – that’s what I did too, and it seems to have worked out pretty well. So, I suggest staying with what’s working. Everyone I know who has played wall street’s games ultimately gets burned. Better to just not be in that game.
One thing I believe is to question what people tell you, particularly thoughts that become conventional wisdom. Seems most people believe that if they have some savings, they should be able to invest and make lots of money all with low risk. Well, I’d question that! How is that possible?
It seems to me it would only be possible if there were more low risk investments that provided great returns then there was available capital to service those investments. But it seems abundantly clear to me that there is far more capital than low risk investments with good returns. Given that simple supply and demand equation, the only way I think that you can move away from a very modest return is to take on more risk. Lots more risk in most cases. And it seems to me that wall street’s biggest game is to sell products with lots of risk as low risk great investments. And indeed that seems to be what happened in recent years that lead to lots of people seeing their portfolios getting clobbered.
Thus, for me it’s much more important to protect my assets than to risk them for a better return. I may not have the excitement of a trade that doubles in value, but I also don’t have all the losses either.
XBoxBoy
Participant[quote=4plexowner]My current strategy is to stay the hell out of Wall Street’s games and protect my assets – in 2008 that strategy kept me from losing 40-50% in equities while both of my gold coins increased in value by 5%[/quote]
4plexowner – that’s what I did too, and it seems to have worked out pretty well. So, I suggest staying with what’s working. Everyone I know who has played wall street’s games ultimately gets burned. Better to just not be in that game.
One thing I believe is to question what people tell you, particularly thoughts that become conventional wisdom. Seems most people believe that if they have some savings, they should be able to invest and make lots of money all with low risk. Well, I’d question that! How is that possible?
It seems to me it would only be possible if there were more low risk investments that provided great returns then there was available capital to service those investments. But it seems abundantly clear to me that there is far more capital than low risk investments with good returns. Given that simple supply and demand equation, the only way I think that you can move away from a very modest return is to take on more risk. Lots more risk in most cases. And it seems to me that wall street’s biggest game is to sell products with lots of risk as low risk great investments. And indeed that seems to be what happened in recent years that lead to lots of people seeing their portfolios getting clobbered.
Thus, for me it’s much more important to protect my assets than to risk them for a better return. I may not have the excitement of a trade that doubles in value, but I also don’t have all the losses either.
XBoxBoy
Participant[quote=waterboy]Word on the street is that the Chelsea property accepted offer above $1M all cash. [/quote]
If that’s true, (and I don’t doubt it one bit) it shows how asking a low price and triggering an auction can be a successful strategy for the seller.
For anyone interested in the psychology of auctions and why people overpay at them, read the chapter on the high cost of ownership in Dan Ariely’s book Predictably Irrational. He lays out the psychology of how when bidding on something in an auction we start to imagine ourselves as the winner/owner, and as we develop these thoughts in our head, we become more and more willing to pay for that ownership. And before you know it we’ve overbid.
XBoxBoy
Participant[quote=waterboy]Word on the street is that the Chelsea property accepted offer above $1M all cash. [/quote]
If that’s true, (and I don’t doubt it one bit) it shows how asking a low price and triggering an auction can be a successful strategy for the seller.
For anyone interested in the psychology of auctions and why people overpay at them, read the chapter on the high cost of ownership in Dan Ariely’s book Predictably Irrational. He lays out the psychology of how when bidding on something in an auction we start to imagine ourselves as the winner/owner, and as we develop these thoughts in our head, we become more and more willing to pay for that ownership. And before you know it we’ve overbid.
XBoxBoy
Participant[quote=waterboy]Word on the street is that the Chelsea property accepted offer above $1M all cash. [/quote]
If that’s true, (and I don’t doubt it one bit) it shows how asking a low price and triggering an auction can be a successful strategy for the seller.
For anyone interested in the psychology of auctions and why people overpay at them, read the chapter on the high cost of ownership in Dan Ariely’s book Predictably Irrational. He lays out the psychology of how when bidding on something in an auction we start to imagine ourselves as the winner/owner, and as we develop these thoughts in our head, we become more and more willing to pay for that ownership. And before you know it we’ve overbid.
XBoxBoy
Participant[quote=waterboy]Word on the street is that the Chelsea property accepted offer above $1M all cash. [/quote]
If that’s true, (and I don’t doubt it one bit) it shows how asking a low price and triggering an auction can be a successful strategy for the seller.
For anyone interested in the psychology of auctions and why people overpay at them, read the chapter on the high cost of ownership in Dan Ariely’s book Predictably Irrational. He lays out the psychology of how when bidding on something in an auction we start to imagine ourselves as the winner/owner, and as we develop these thoughts in our head, we become more and more willing to pay for that ownership. And before you know it we’ve overbid.
XBoxBoy
Participant[quote=waterboy]Word on the street is that the Chelsea property accepted offer above $1M all cash. [/quote]
If that’s true, (and I don’t doubt it one bit) it shows how asking a low price and triggering an auction can be a successful strategy for the seller.
For anyone interested in the psychology of auctions and why people overpay at them, read the chapter on the high cost of ownership in Dan Ariely’s book Predictably Irrational. He lays out the psychology of how when bidding on something in an auction we start to imagine ourselves as the winner/owner, and as we develop these thoughts in our head, we become more and more willing to pay for that ownership. And before you know it we’ve overbid.
XBoxBoy
ParticipantWhile I might be in the minority with this opinion, I’d say the location on Chelsea is not nearly as nice as you might think at first. There is a lot of traffic on Chelsea as people try to avoid LJ Blvd, and this traffic will only get worse in the coming years.
I’m not surprised though that there are lots of bids in on the house with such a low price. But whoever gets it is going to spend a good bit to put it back together. More than likely, more headache and cost than they currently realize.
For my money, there are several places in LJ that while a couple hundred grand more, are far better values if you want a construction project. (Not a lot of these mind you, but they are out there)
JP – you can always get a bidding war, even in horrible times, just set your asking price low enough and let the market tell you what the best price is. And there’s always the chance that someone will get caught up in the excitement of the auction and way overbid.
Of course, time will tell whether this optimism and bidding war is justified.
XBoxBoy
ParticipantWhile I might be in the minority with this opinion, I’d say the location on Chelsea is not nearly as nice as you might think at first. There is a lot of traffic on Chelsea as people try to avoid LJ Blvd, and this traffic will only get worse in the coming years.
I’m not surprised though that there are lots of bids in on the house with such a low price. But whoever gets it is going to spend a good bit to put it back together. More than likely, more headache and cost than they currently realize.
For my money, there are several places in LJ that while a couple hundred grand more, are far better values if you want a construction project. (Not a lot of these mind you, but they are out there)
JP – you can always get a bidding war, even in horrible times, just set your asking price low enough and let the market tell you what the best price is. And there’s always the chance that someone will get caught up in the excitement of the auction and way overbid.
Of course, time will tell whether this optimism and bidding war is justified.
XBoxBoy
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