Hey, definitely don’t judge someone for their car - I drive a beater and actually do this for a living. I am also a cheap person all over and in this business you have to be. One of the best PMs at Point72 drives a Honda Odyssey AFAIK. The issue is really the incentives. In most cases, unless you are employed in finance, it makes more sense to sell books and courses than to trade your own capital. Does not mean that everything you hear from these authors/teachers is worthless, but it certainly carries less weight. For what it’s worth, if someone is teaching you “the process” (ie how do you approach alpha research and risk taking), it’s much better than someone teaching you “the method”. Any particular strategy will eventually decay and die (and anyone who says otherwise is full of shit) but the process that you establish to find trades and deploy capital will help you find new alpha.
Good Evening Slow Learning Elf, I been trading for about 6 years and NEVER had a profitable year, year-to-year, I now need more trading capital, do you recommend I start selling trading books and courses and mentoring traders for a fee how to day trade to make money? Then I can use that money to start trading my own capital or just keep on selling trading courses and books.
%% LOL Same way with a truck; Sam WMT drove a red beater pick up . Dave Ramsey says one should be a millionaire before buying a new car; dont have to buy a new car then , just a basic requirement. 1933 depression exit shopping list /dozen eggs $00.27; New pick up truck= $580, 1933. Can buy a 12 eggs @ WMT for less than $ $2.70; what kind of new pick can any buy @$5,800= none . IKR founder likes to ride a horse
Funny there is a point in that. But an 1933 egg = a 2024 egg (okay one could debate this), while a 1933 pickup is not a 2024 pickup (comfort, range). So if we inflate price, we need to also inflate all the other product characteristics. Impossible job I know
%% LOL,exactly. And a hen does NOT put all kinds of useless cr#p on her egg ; back up mirrors, automatic windows, GM union pay................................................................................. Top speed of 1933 P/U =78mph, plenty fast ,55mph is enough many times LOL. NO thanks on your 2024 model; sure i would take one free\ but sell that overpriced union mess. And buy an older model auto
Lol, in my tienies/twenties I always thought everyone bought a car relative to their income. I could never imagine - now forties - (fast depreciating assets aside) not getting that attention would also be an asset in itself
I must be an idiot!! Whenever; Coke, IBM, Apple, DuPont, Chevron, Welltower, Merck, Google, Amazon has a bad quarter, I decide to buy. When will I ever learn...