Hi everyone, I recently experienced instant wealth (lottery jackpot). I'm wondering where to put this money. I figure that the richest of people are business owners or hedge fund managers. So I'm considering to invest in stocks or trade it myself. What can you suggest as first step? I want to buy a yacht but I need to ten fold my money first. Thanks for advising. Gulliver
+1 Invest in a few ex-wives. LOL actually, if this is a serious post, you should buy some precious metals, keep some in savings, light exposure to commodities, and put 20% in Managed Futures with risk-averse CTAs. GL
For a more or less serious answer....depending on how much and whether you have a family, throw it in dividend stocks and munis for the short term. If you won $10,000,000, making 3% before taxes gives you $300,000 income which you will pay taxes on, but unless you are were rich before hand should be a nice income. You can spend some stupid money and still reininvest a big chunk for the long run and not touch principle. Or you can get stupid and buy everything and be broke.
the boys that took the fed and the system for trillions have just about exhausted the printing presses, and are probably building massive shorts to collect the money on the about to snap rubber band so sell the mar 2013 600/1400 call spread for $785/$95 for 690,you have a 110 risk and a 690 profit potential,every $1 the spx is under 1290 or better by next march you make $100 per contract
or put it under your mattress and when the banks collapse buy up all the farmland you can find, food will be gold,if you put that trade on and it did work out the houses would mf global you and say they lost your money