10-17 23:13 - 'good stocks to invest in / How do I know good stocks to invest in, ask you to understand the concept and characteristics of it yet? If not invite you to consult the following information: Concept: Shares are certificates of in...' by /u/saido07 removed from /r/Bitcoin within 98-108min
''' good stocks to invest in How do I know good stocks to invest in, ask you to understand the concept and characteristics of it yet? If not invite you to consult the following information: Concept: Shares are certificates of investors contribute money to the issuer. Shares are certificates by the company of shares issued or book entries certifying the ownership of one or a number of shares of that company. Held shares become shareholders and at the same time the owner of the issuer. Characteristics: No and no payback period: it is certified by the shareholders to contribute capital to joint-stock companies. The only way to contribute to and does not represent a payback period; no maturity. Dividends unstable and dependent on the business of enterprise: common stock dividends depend on the business results of the enterprise, this is unstable dividend should not be fixed. Once a thriving business, the shareholders shall enjoy more profits compared to other securities with a fixed interest rate. Conversely, when doing difficult or losses, dividends may be very low or no dividends. When bankruptcy, shareholders are the last to receive the remaining value of assets for liquidation Stock price fluctuations are very strong: most volatile prices on the secondary market, prices are affected by many factors. ’Besides, in view of the investor, shares have the following characteristics:’ First, the business results of the issuer Second, the relationship supply - demand on the stock market Taking Circulation Capital calculated author Calculated Risk High rabat, Morocco [link]1 ''' Context Link Go1dfish undelete link unreddit undelete link Author: saido07 1: mo*eyo*l*n**nvestm*n*.c*m/*/goo*_sto**s_to_i**e*t_in/*2995*2_How-go*d-***cks*to-invest*in/r*bat**orocc*.html Unknown links are censored to prevent spreading illicit content.
When the market dropped last March, my net worth dropped by over a million dollars (-22%)
I’ve been retired for 2.5 years now, and I pop in here from time to time to tell people how things are going. I do it because I am encouraged to do so (by you nice folks) and I like to share what I learned so far. Feel free to ask me anything you like. My first post - a 1 year in reflection + FIRE story And my 2 year follow up here I’m a patient person, a future-oriented person, and these characteristics helped me to persist in the long-term planning I did when I was working towards FI/RE. It helped me hold on to my investment in crypto as it soared (Stick to your plan, man: I took some profits, which is how I jumped the queue to FIRE earlier than expected and with more than I needed, though I was heavy on the FI/RE path before that). I am also a semi-rational person (I think), who has played out a number of scenarios in my head many times. In fact – I had to do that to feel confident to retire in the first place. What if ____ (fill in catastrophic thing) happens?… each time I figured out how I would survive and most of the survival plans fell out to: keep cool and sit tight (a couple of them included “and go back to work.”) Considering how the stock market and economy in general are cyclical, I had gone through the “what do you do when there is a crash and your net worth drops significantly?” (note the crash part is not “if”, but “when”). The answer, as previously mentioned, was “sit on the porch and watch your sunflowers grow.” There was a conversation in (I think) one of my posts last year where after the market had dropped a small amount I mentioned I had just chilled through it (while others flipped out and panic-sold and were then kicking themselves) and someone on here snarkily replied “well, wait until you see a REAL drop, then we will see what you do!” Well Snarko VonSnarkington, this post is for you. As you might recall, the month of March was brutal, with many days showing huge losses in the stock markets. Not only did the market drop precipitously but my historically uncorrelated asset bitcoin shit the bed as well (a universal rush to cash?) leaving me just over $1M poorer net-worth-wise. My portfolio consists of real estate (my old house that I now rent out), index funds, and bitcoin. I outright own my current house (sold my bond funds to buy the house) and a piece of shit truck that I love. I also own a cat free and clear. So what did I do as my portfolio took a double barreled shotgun to the face?!?!? Not a goddamn thing. Ok, that’s a lie. I loss-harvested 90k worth of index funds which have since recovered and then some. I held tight. I held strong. I built shelves for my workshop out of salvaged lumber. Psychologically I have to say I felt off – it was not fun, and it was not Zen (though I tried brother, I tried). I had to argue with myself “well, this is one of those situations that test your mettle, meboyo…” and “wow, how is this going to play out… nervous… yuck…” but even though I experienced emotions, there was never even the option in my mind to sell in order to protect capital. It never appealed to me as a wise option and I had no compulsion to do so. For years I have made an informed decision to commit to this strategy I believe in, and damnit I am going to stick by it. I own my house. I know how to cook. I have health insurance and a rainy-day fund. I am retired, by design, because I stick to the plan until it no longer makes any sense – and this was a case where it looked like things were going to be ok (maybe it will take 3 years, but ok nonetheless). I had no idea we would see a stock/crypto recovery so quickly. By the end of this August when I updated my monthly spreadsheet, I had crossed back above where I was just before the crash. As of last week my net worth is 10% higher than it was before the crash. I also used the confusion in the marketplace in April to buy a beautiful old house to live in (and it has a huge detached workshop!) in a new, lower COL city (with cash, at a discount). Who the hell knows what happens next with this economy, politics, health, meteors, and the old Gods of Cthulu, but I’ve got one “been there, done that” under my belt now and I feel like I played it well by not playing at all. If anyone is looking for me, I’m out back in the workshop, making smoke and dust and a general mess as I teach myself woodworking and metalworking to enhance my primitive art constructs. Feel free to ask any questions, and when shit gets weird, remember to breathe.
I've learned a lot by surfing these subs. I internalized it and am really happy with where I am. I wanted to take a minute to pay it forward and distill what I've internalized into first principles. First, a bit on my background. I was always interested in being FI and know that money doesn't equal freedom, but it is an aspect of freedom (if nothing else, freedom from worrying about meeting basic needs). I was saving heavily in my mid 20's but was also working for a nonprofit. I was saving 50% of my income but it honestly wasn't amounting to all that much. I wound up spending about a year teaching myself data science before and after work. I was really motivated by the field and, luckily for me, it turns out to be quite lucrative. I also started skydiving. That meant moving to a shared 1 bedroom apartment with somebody I butted heads with so I could afford it and not overly sacrifice savings goals. That was a tough call because skydiving is expensive, but it also made me much more risk tolerant and a generally happier and less reactive human. Skydiving taught me that most of my fears were unfounded (evolution predisposes you to fear more than you have to) so I geared up for a big life change. When I was good enough at data science, I quit my job in the nonprofit and moved to San Francisco to do a 3 month bootcamp program. Everybody thought I was nuts. That drained my savings virtually down to the last dime (with no debt though). I got my first job in the industry making very little money in a role where I would learn a lot. I loved it and got a promotion in (I shit you not) 2 weeks of being on the job. That was my first 6 figure income. Zoom forward four years and I'm at a major company with a significant equity stake, financially comfortable, and having just bought a home. Not quite yet FIRE but getting close depending on how my company stock does. Obviously everybody's path is different. But principles are more universal. With all that, here are the main principles that lead to my success:
Find the global maximum. I was top of my game in that nonprofit with a relatively good income and title, but I was growing unhappy and knew I wouldn't make my longterm goals. It was a tough call to quit, drain my savings, and move. But I did it and now I feel like I'm in a global personal maximum for life satisfaction, earning, etc. This means longterm thinking
Stay balanced. I almost burned myself out on FIRE multiple times. I started seeing everything as costs. Be scrappy on everything but what makes you most come alive. That's crucial for longterm motivation
The best investments are always in yourself. Active recovery, eduction, socializing, etc. are the best investments you can make. They're bad investments on the short term but great on the longterm
Save on housing until you're ready to purchase a home. My rule was that I'd live with roommates until I had enough for a down payment. When covid happened, I decided I wouldn't buy a place until the market rebounded so I let my investments sit until they rebounded, sold, and purchased a home. Most people lose too much money on housing
Never pay interest. This is an exaggeration but it's the biggest lifetime expense for more people. I pay some interest but both my small car loan and mortgage are below 3% interest. That means, with inflation, my money is likely better in the stock market than paying back those loans. So apart from that interest, I've been lucky enough to manage to avoid it like the plague
Take risks and experiment. Most people are way too risk adverse, scared to place strategic bets. I've lost a lot of money on risky things but have gained so much more in experience. Spending thousands on bitcoin miners in the early days while on a shoestring budget? Lost a lot on that. But it resulted in learning an appropriate way to buy crypto and the net effect was many more thousands of dollars in gains
Have mentors/models. If you don't do this explicitly, you default to modeling your behavior on whoever is around you. Think of who your top models for behavior are (financial, relationship, etc) and figure out what makes them tick. For me it was Mr. Money Moustache, some abundance-oriented technology thought leaders, and some anti-consumer friends who were militant about how owning things doesn't make you happy
Don't defer pleasure. I came to realize that many of my thoughts on retirement were quite Catholic (thanks, dad). In other words, I was deferring pleasure until retirement like my Catholic father was deferring pleasure until the afterlife. Be fiercely present and enjoy today. Finances are only one part of life satisfaction
Have an abundance and growth mindset. Most people think of money as a scarce resource. It's not. Anybody can generate it given enough time and effort. Think big picture and work incrementally towards it rather than accepting the career progression of your peers or employer. Most people underestimate how much employers will recognize a strong sense of drive and personal responsibility
Change is necessary. For the Buddhists, that's the source of all suffering. Do we want to sacrifice the mediocre reality today for the option of a better reality tomorrow? Most people are so change and uncertainty adverse they can't adapt to more beneficial situations. Being open and curious and optimistic about change is necessary, otherwise the mediocre today seems like a better bet or you'll change and then quickly regress. The opportunity cost for change is whatever situation you currently find yourself in. Make sure you're ok with this and have the confidence to course correct if you get in over your head
TL;DR - Reality is malleable. You can achieve whatever you want as long as you take a step back, strategize, and then kick some ass. If you adopt some principles and play the long game, you'll ace this whole life thing Edit: Glad this got so much attention. I feel like I've paid forward the mindset and benefits this sub helped me create. Thanks for being part of that!
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