R/E/P Community

Please login or register.

Login with username, password and session length
Advanced search  

Pages: 1 2 [3] 4  All   Go Down

Author Topic: $2M Retirement.  (Read 10300 times)

eightyeightkeys

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 789
Re: $2M Retirement.
« Reply #30 on: January 24, 2010, 06:41:00 PM »

PookyNMR wrote on Fri, 22 January 2010 11:54

Roadster wrote on Thu, 21 January 2010 11:20

There is no such thing as a money "manager".

You would do as well getting a book from the library.



??

I'm sorry, but that's pure foolishness.

Do have any idea how much training and education a fully accredited portfolio manager has?

This isn't something you can master by reading one little book from the library.  The technical term for that suggestion is "gambling".




There was an interview on CBC radio last year with a money manager expert/researcher.

This money manager did research on the returns of mutual funds versus GIC's over the past 50 years ! Which would you say was the better investment ?
Logged
Dave T.
D&D Music

PookyNMR

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 1991
Re: $2M Retirement.
« Reply #31 on: January 24, 2010, 09:13:46 PM »

eightyeightkeys wrote on Sun, 24 January 2010 16:41

PookyNMR wrote on Fri, 22 January 2010 11:54

Roadster wrote on Thu, 21 January 2010 11:20

There is no such thing as a money "manager".

You would do as well getting a book from the library.



??

I'm sorry, but that's pure foolishness.

Do have any idea how much training and education a fully accredited portfolio manager has?

This isn't something you can master by reading one little book from the library.  The technical term for that suggestion is "gambling".




There was an interview on CBC radio last year with a money manager expert/researcher.

This money manager did research on the returns of mutual funds versus GIC's over the past 50 years ! Which would you say was the better investment ?



That would completely depend on your goals as an investor, your risk management levels, the term of investment, and so many other factors.

If you look at just the final average number you'll ignore other critical factors that could make either a better move given the situation.

Both tools exist because each offers a particular advantage to a certain set of situations.

All of this serves to show why a good, qualified portfolio manager is necessary.
Logged
Nathan Rousu

seedyunderbelly.com

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 2465
Re: $2M Retirement.
« Reply #32 on: January 25, 2010, 07:17:26 AM »

Looks Like Cliff is gonna have to go to Goa,

He can get his Brazillian Wax'd there for $14

~~ as opposed to the $41 dollars in The Phillipines....!

  Eggs were way cheaper in Goa too!

 I was surprised how similar the prices were for some of the other things..    

So Clifford,   The real question is what ethnicity do you like your Mistresses and Lady Boys?

Or Starve early in America or Bahamas!!!
j/k

You did get some killer advice here though!  

Wax on Wax off!

J

Tomas Danko

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 4733
Re: $2M Retirement.
« Reply #33 on: January 25, 2010, 09:19:41 AM »

compasspnt wrote on Sun, 24 January 2010 15:19

Goa looks pretty interesting.

Why do you mention it...or rather, what do you know about the cost of living there?

http://en.wikipedia.org/wiki/Goa



I once had the idea that instead of trying to create some music while working as a sales clerc or similar meanwhile (and cope with the wet slush and darkness during winter here in Scandinavia), it might be better to work hard for a while and save up money, and then stay in Goa for a year or two and focus on writing.

I've been advocating this for years to anyone who wanted to write a book, an album or paint etc.

Ten years ago I know you could live a decent life there for around $4000 per year. Even if it's gotten more expensive nowadays it's still very cheap to get an apartment or small hut as well as buying groceries and eating in taverns etc.
Logged
http://www.danko.se/site-design/dankologo4s.gif
"T(Z)= (n1+n2*Z^-1+n2*Z^-2)/(1+d1*z^-1+d2*z^-2)" - Mr. Dan Lavry
"Shaw baa laa raaw, sidle' yaa doot in dee splaa" . Mr Shooby Taylor

Jon Hodgson

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 1854
Re: $2M Retirement.
« Reply #34 on: January 25, 2010, 09:42:39 AM »

Tomas Danko wrote on Mon, 25 January 2010 14:19

compasspnt wrote on Sun, 24 January 2010 15:19

Goa looks pretty interesting.

Why do you mention it...or rather, what do you know about the cost of living there?

http://en.wikipedia.org/wiki/Goa



I once had the idea that instead of trying to create some music while working as a sales clerc or similar meanwhile (and cope with the wet slush and darkness during winter here in Scandinavia), it might be better to work hard for a while and save up money, and then stay in Goa for a year or two and focus on writing.

I've been advocating this for years to anyone who wanted to write a book, an album or paint etc.

Ten years ago I know you could live a decent life there for around $4000 per year. Even if it's gotten more expensive nowadays it's still very cheap to get an apartment or small hut as well as buying groceries and eating in taverns etc.


Around that time, perhaps a couple of years earlier, someone I knew went there for a short holiday. He said he met a number of people who had flats in London that they rented out for about 100 pounds a week more than their mortgage payments... and they'd found they could live ok in Goa for as little as fifty pounds a week, if they were happy to live a simple life.. "enough food to eat, a bit of beer, a bit of blow, sit on the beach reading a book" was how it was described to me.


Logged

Tomas Danko

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 4733
Re: $2M Retirement.
« Reply #35 on: January 25, 2010, 09:47:15 AM »

Jon Hodgson wrote on Mon, 25 January 2010 14:42

Tomas Danko wrote on Mon, 25 January 2010 14:19

compasspnt wrote on Sun, 24 January 2010 15:19

Goa looks pretty interesting.

Why do you mention it...or rather, what do you know about the cost of living there?

http://en.wikipedia.org/wiki/Goa



I once had the idea that instead of trying to create some music while working as a sales clerc or similar meanwhile (and cope with the wet slush and darkness during winter here in Scandinavia), it might be better to work hard for a while and save up money, and then stay in Goa for a year or two and focus on writing.

I've been advocating this for years to anyone who wanted to write a book, an album or paint etc.

Ten years ago I know you could live a decent life there for around $4000 per year. Even if it's gotten more expensive nowadays it's still very cheap to get an apartment or small hut as well as buying groceries and eating in taverns etc.


Around that time, perhaps a couple of years earlier, someone I knew went there for a short holiday. He said he met a number of people who had flats in London that they rented out for about 100 pounds a week more than their mortgage payments... and they'd found they could live ok in Goa for as little as fifty pounds a week, if they were happy to live a simple life.. "enough food to eat, a bit of beer, a bit of blow, sit on the beach reading a book" was how it was described to me.





Now there's an idea. Smile

Just remember to pack a laptop, midi keyboard, microphone and headphones...
Logged
http://www.danko.se/site-design/dankologo4s.gif
"T(Z)= (n1+n2*Z^-1+n2*Z^-2)/(1+d1*z^-1+d2*z^-2)" - Mr. Dan Lavry
"Shaw baa laa raaw, sidle' yaa doot in dee splaa" . Mr Shooby Taylor

ssltech

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 4780
Re: $2M Retirement.
« Reply #36 on: January 25, 2010, 10:11:18 AM »

Hmmmmmmmm...

"Goa".

Whos wife are we talking about?

http://www.youtube.com/watch?v=ona-RhLfRfc

Very Happy

Keef
Logged
MDM (maxdimario) wrote on Fri, 16 November 2007 21:36

I have the feeling that I have more experience in my little finger than you do in your whole body about audio electronics..

PookyNMR

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 1991
Re: $2M Retirement.
« Reply #37 on: January 25, 2010, 12:53:39 PM »

Les Ismore wrote on Sat, 23 January 2010 17:20

Back in the 90s I came into a settlement on a car accident and everyone told me "mutual funds, we made 20% last year". If I had bought into them I would have lost 50% of the dough that year.


That's exactly why you need a qualified portfolio manager.  You'd bypass the 'sheep' mentality and have someone who's on top of it all provide solutions that will give reasonable growth and avoid crap funds and foolish investments.
Logged
Nathan Rousu

Geoff Emerick de Fake

  • Sr. Member
  • ****
  • Offline Offline
  • Posts: 348
Re: $2M Retirement.
« Reply #38 on: January 28, 2010, 01:43:07 PM »

Well I had two supposedly "qualified portfolio managers". None of them saw the burst of the internet bubble in 2000, neither the sub-prime crisis...
My two partners, who were in the same situation than me, proceeded differently: one invested in real-estate, now he's stuck with over-evaluated assets that he can't hardly sell, the other decided to be his own fortfolio manager, bought the books and software, and learnt. He really managed well the 2000 crisis, but not this one.
Problem is, nobody REALLY saw it coming. The supposedly best analysts in the world have been all taken by surprise. That's because these guys use tools that are suitable for an economic model that doesn't exist anymore.
I don't want to pay someone for making the mistakes that I'm perfectly capable of doing myself.
Logged

PookyNMR

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 1991
Re: $2M Retirement.
« Reply #39 on: January 28, 2010, 10:21:27 PM »

Geoff Emerick de Fake wrote on Thu, 28 January 2010 11:43

Well I had two supposedly "qualified portfolio managers". None of them saw the burst of the internet bubble in 2000


To quote an old movie - "You have chosen poorly..."

Geoff Emerick de Fake wrote on Thu, 28 January 2010 11:43

Problem is, nobody REALLY saw it coming. The supposedly best analysts in the world have been all taken by surprise.


That's not true.  There's video documentation of plenty of folks predicting this last crisis years ago with uncanny accuracy.  

The problem is no one listened and wrote them off.  There was too much money to be made trying to continue riding the bubble.

With such bad policies and practices leading up to the event, I don't understand how more people didn't see it.

Opt-A loans are coming up in 2011.  Be prepared for another rough ride.  
Logged
Nathan Rousu

Geoff Emerick de Fake

  • Sr. Member
  • ****
  • Offline Offline
  • Posts: 348
Re: $2M Retirement.
« Reply #40 on: January 29, 2010, 09:21:16 AM »

PookyNMR wrote on Thu, 28 January 2010 21:21

Geoff Emerick de Fake wrote on Thu, 28 January 2010 11:43

Well I had two supposedly "qualified portfolio managers". None of them saw the burst of the internet bubble in 2000
To quote an old movie - "You have chosen poorly..."
Yes, as thousands of others. How can one tell who is good, who is bad? And don't tell me that checking the past performance is key. Many analysts with a good historic record have stumbled on this one.
Quote:

 
Geoff Emerick de Fake wrote on Thu, 28 January 2010 11:43

Problem is, nobody REALLY saw it coming. The supposedly best analysts in the world have been all taken by surprise.
That's not true.  There's video documentation of plenty of folks predicting this last crisis years ago with uncanny accuracy.  
The problem is no one listened and wrote them off.  There was too much money to be made trying to continue riding the bubble.
With such bad policies and practices leading up to the event, I don't understand how more people didn't see it.
How did you fare in that respect? Maybe you should have a career as a financial analyst? Or maybe you already are?
Quote:

 Opt-A loans are coming up in 2011.  Be prepared for another rough ride.  
Fortunately, I'm not directly concerned anymore, but I'm convinced there's gonna be another rough ride, because nothing has changed; same people make the same mistakes, use the same obsolete economic model and continue to teach MBA's as before. I know I'm gonna be washed up when comes the next blow, but I don't know what I can do because I trust no one.
Logged

ssltech

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 4780
Re: $2M Retirement.
« Reply #41 on: January 29, 2010, 09:29:07 AM »

My wife and I frequently joke about this...

She's always been a keen believer in 'managing' investments. Her justification was "we've got to put our money to work for us!"

Some time about 2000, I looked at the performance with her and joked "That really is magnificent work! I've never seen ANYTHING dig a hole that fast!"

Oh how we larfed!  Laughing

Seriously though, I'm with Geoff on this: Good past performance and even incredible ingenuity is no reliable indicator of future performance. NO MAN can know the future with that much certainty.

Keith
Logged
MDM (maxdimario) wrote on Fri, 16 November 2007 21:36

I have the feeling that I have more experience in my little finger than you do in your whole body about audio electronics..

JGauthier

  • Full Member
  • ***
  • Offline Offline
  • Posts: 136
Re: $2M Retirement.
« Reply #42 on: January 29, 2010, 02:10:49 PM »

PookyNMR wrote on Thu, 28 January 2010 19:21

  There's video documentation of plenty of folks predicting this last crisis years ago with uncanny accuracy.  

The problem is no one listened and wrote them off.  There was too much money to be made trying to continue riding the bubble.

With such bad policies and practices leading up to the event, I don't understand how more people didn't see it.  



Its funny to see how most dont realize what you do. I worked as a title officer as a day job prior to opening the studio full time. We have known since 2003 the entire country was f*cked. It was only a matter of when. Literally.

The loans I saw come across out desk were unbelievable. Literally- SHOULD NEVER HAVE HAPPENED. And the best is the legislation that passed that allowed this ENTIRE FIASCO to occur is thanks to Mr. Bill Clintons admin. Period.

I have nothing against Bill and think George Bush should be shot so dont misunderstand. Just stating the facts. After the lending/real estate crash, I became a financial manager and thus had the pleasure of watching my clients stock drop from 40 to 4. That was an 8 figure loss for them.

And to the Ops question?

If you have 2 mil right now and cant double it in the next 2 years investing, you dont deserve to have the 2 million. This is POST DEVESTATING CRASH... If you have avaliable cash, you can really turn some coin. My father for example got in on B of A stock at the crash 5 a share- its at 15.28 today. Over 300% profit... We all knew B of A isn't going anywhere and 5 a share? Thats almost free.

And FYI- at this point if you worry about investing cause the economy may collapse again, if that really happens, you have wayyyyy more to worry about than just that...
Logged

mukul

  • Jr. Member
  • **
  • Offline Offline
  • Posts: 61
Re: $2M Retirement.
« Reply #43 on: January 30, 2010, 05:52:43 AM »

JGauthier wrote on Sat, 30 January 2010 00:40



...

My father for example got in on B of A stock at the crash 5 a share- its at 15.28 today. Over 300% profit...

...



Check your calculations, buddy.  It is 200% profit ... but you made your point.
Logged
Mukul M. Mittal
http://www.druflon.com

Geoff Emerick de Fake

  • Sr. Member
  • ****
  • Offline Offline
  • Posts: 348
Re: $2M Retirement.
« Reply #44 on: January 30, 2010, 07:06:14 AM »

JGauthier wrote on Fri, 29 January 2010 13:10

 If you have 2 mil right now and cant double it in the next 2 years investing, you dont deserve to have the 2 million.
This is the most ridiculous sermon I heard for a long time. I made my money by hard work, setting up a company and hiring staff in the areas that I knew I didn't master, like HR, finance and admin. I sold the company and took the cash. I put it in funds, under the guidance of knowledgeable people who had a good record; they haven't seen it coming. How can you say I didn't deserve to have the two M? In what am I at fault? Clearly, you're not an EE. Next time you have a piece of gear that goes temperamental, will I have the right to say it's your fault, that you didn't deserve it in the first time?
Quote:

 My father for example got in on B of A stock at the crash 5 a share- its at 15.28 today. Over 300% profit...
Good for him, but you cannot turn one single experience into statistics. If he had done it consistently in several happenstances, that would mean a thing. And maybe he is a professional. I'm not, and I can't even tell one good finacial consultant from a bad one, except from hindsight. Just like you probably can't tell a good EE designer from a bad one at first glance.
Why didn't you take the ride with your father? You could be filthy rich and don't need to work your ass off in the studio...
Quote:

 And FYI- at this point if you worry about investing cause the economy may collapse again, if that really happens, you have wayyyyy more to worry about than just that...
I do...that's why I wrote "I know I'm gonna be washed up when comes the next blow"
Logged
Pages: 1 2 [3] 4  All   Go Up
 

Site Hosted By Ashdown Technologies, Inc.

Page created in 0.033 seconds with 22 queries.