Oops... you spelt intelligence incorrectly
Learn from their mistakes and move on. Edited speling now god.
What traits do investors have in common?
- Thread starter Bargain Hunter
- Start date
Learn from their mistakes and move on. Edited speling now god.
So the investors, they're like really smart & just better I take it ?...
All of us except you Jaycee. How many times do I have to tell you? You've got to graduate from primary school. Carpe Diem!
Reading the forum I am often surprised to see the number of comments, tags and generalisations applied to investors. So I decided to take a moment to consider what traits investor's have in common. Here is my list.
1. Higher than average intelligence - they make Einstien look like a dunce.
2. Business movers and shakers - I often field calls from Trump wanting to be my apprentice.
3. Family Fortune - I myself got my dad's power saw when he passed away.
4. Lucky - my favourite to explain the tough times many investors go through to achieve overnight success.
5. Battlers - often incorrectly applied to renters or people who want to get into the market but don't possess the super powers or connections listed above.
Regards
Andrew
You forgot:
6. Greedy
Bargain Hunter:
I think Jan Somer's book, 'Building Wealth-Story By Story' really hit home to me the 'variation of characters', then gradually meeting 'real' life people that have followed their own path, their own 'drummer' on wealth building, everyone has their story, my initial driving force was, (and obviously still is) my own financial independence. And yet I go about this quite differently to the other (wealth builders), investors, I know personally and our temperaments, our personalities are very different.
I think Jan Somer's book, 'Building Wealth-Story By Story' really hit home to me the 'variation of characters', then gradually meeting 'real' life people that have followed their own path, their own 'drummer' on wealth building, everyone has their story, my initial driving force was, (and obviously still is) my own financial independence. And yet I go about this quite differently to the other (wealth builders), investors, I know personally and our temperaments, our personalities are very different.
I saw this post plus an answer on another forum and just had to shake my head.
Gee someones done it twice and you couldn't manage it once, so its his/her fault.
Gee someones done it twice and you couldn't manage it once, so its his/her fault.
Investors. Hmpf.
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I was keeping the thread positive because there are plenty of negative threads about investors on this a hum, investment forum. So to keep with the spirit in which this thread was started you could at least say, positively greedy.
I was keeping the thread positive because there are plenty of negative threads about investors on this a hum, investment forum. So to keep with the spirit in which this thread was started you could at least say, positively greedy.
There is nothing greedy about wanting to to be self sufficient and not depend on the government for a pension.
If anything, we are generous.
Quite right; we are providing housing for those who need it...and hopefully making money as we go.
I reckon many businesses operate exactly the same way; provide a service, fill a need and get paid for it.
Speaking of generosity; I'll blow me own trumpet here...
We are trying to sell our Frangers unit right now 'cause we are not travelling too well in the cashflow dept what with the house build and a slow-down in business and tax bills....Violin please, yeah, yeah
So anyway, our tenant is a younger bloke - approx 25, single, been there about 3 years, and has been terrific. Has a cat, and goldfish.
Unbeknown to us, he has found somewhere else to live (fair enough) and it turns out he needs to commence lease in new place 2 weeks before his official lease ends with us.
So, we get a letter from his mother (via the agent) who pleads the case of her son being very broke (student), and suffering severe anxiety and stress as a result of having to move, pay 2 lots of rent which he can't afford - some other emotional issues as well. And would we consider allowing him to be released from his lease 2 weeks early and not have to pay the 2 weeks rent?
Our answer?.......of course we will!!
yeah; us greedy, heartless Landlords.
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I was keeping the thread positive because there are plenty of negative threads about investors on this a hum, investment forum. So to keep with the spirit in which this thread was started you could at least say, positively greedy.
Yea well if I were to describe dole-bludgers, professional students and just about most people who hang around the university when I drive past, that one word would probably be greedy.
If I were to qualify it by adding a word before it, it'd have to be negatively.
I was keeping the thread positive because there are plenty of negative threads about investors on this a hum, investment forum. So to keep with the spirit in which this thread was started you could at least say, positively greedy.
or maybe its just certain people think they are investing, when it actual fact that are just speculating.
Funny because the investors on this site, seem quite happy with the state of things, they have the cash rolling in every month, and so dont really give two hooeys what other people think.
Funny thing about that cash rolling in every month - It really cracks me up. And, no, I don't really care two hooeys for what other people think!
I certainly don't delude myself into believing that a bourse as ridiculously small and corrupt as Australia's will ever offer the average mug sufficiently accurate and transparent financial data to make accurate evaluations of intrinsic value (Graham, Fisher, Buffett & Munger et al I think would absolutely wet themselves with laughter at the thought - I mean, are the latter pair invested here in Oz at all? P.S. Once owned a single B-class share in BH, for a quick 12mth 25% return, so I'm not knocking The Man himself by any means).
So who's speculating, and who isn't?
I'd love to be a theoretical purist too, but life's just too short.
Thats the great thing about intrinsic value, its determination is not depedent upon the eloquency of ones writing skill
Thats the great thing about intrinsic value, its determination is not depedent upon the eloquency of ones writing skill
But the determination of intrinsic value IS dependent upon essentially accurate data received into your modelling, and you, my sadly deluded - and, yes, more sadly still - language-massacring friend, haven't really got a rat's hope in hell of ever seeing such valuable data in Oz. It just ain't givvin' ta mugs like us, sorry to tell ya.
It's the old garbage-in, garbage-out principle that rules anything in accounting: If you're fed manure, you'd be wiser to devolve into a fungus than invest your money in it. If you do invest, you're speculating on the accuracy of what financial reports you've been fed not being pure manure. And that, dear readers, they are.
To my knowledge, not a single person in Australian history has every been successfully prosecuted for insider trading, yet any halfwit knows it rages with untrammelled virulence across our bourses like a bacchannalian orgy uninhibited by decency or legal redress daily. Doesn't that just make you feel safe?
But the determination of intrinsic value IS dependent upon essentially accurate data received into your modelling, and you, my sadly deluded - and, yes, more sadly still - language-massacring friend, haven't really got a rat's hope in hell of ever seeing such valuable data in Oz. It just ain't givvin' ta mugs like us, sorry to tell ya.
It's the old garbage-in, garbage-out principle that rules anything in accounting: If you're fed manure, you'd be wiser to devolve into a fungus than invest your money in it. If you do invest, you're speculating on the accuracy of what financial reports you've been fed not being pure manure. And that, dear readers, they are.
To my knowledge, not a single person in Australian history has every been successfully prosecuted for insider trading, yet any halfwit knows it rages with untrammelled virulence across our bourses like a bacchannalian orgy uninhibited by decency or legal redress daily. Doesn't that just make you feel safe?
Ah belbo my fine friend it does my heart good to read posts like these. The more people who believe this sought of dribble the easier my job is (less competition).
Financial statements are audited, so they are definately not manure, at least not the quantitative stuff, the qualitative stuff (such as goodwill) is open to interpretation and thus can be abused, but that can be looked though.
But thats the beauty of it all, investing is part art part science. Some will be able to blend the ingredients, others will just mix the ingredients and come up with something that tasts like manure.
And what has insider trading got to do with the ability to evaluate intrinsic value. Insider trading merely provides an opportunity to profit by trading with upfront knowledge against the market's expectations.
But like i said its all good, it works for me, has worked for a number of years and thus should continue to work, or maybe i am just one of those people who the efficient market theorists hypothosise as being lucky because i have flipped the coin numerous times and have come up with a probability much greater than 50%
Ah belbo my fine friend it does my heart good to read posts like these. The more people who believe this sought of dribble the easier my job is (less competition).
Financial statements are audited, so they are definately not manure, at least not the quantitative stuff, the qualitative stuff (such as goodwill) is open to interpretation and thus can be abused, but that can be looked though.
But thats the beauty of it all, investing is part art part science. Some will be able to blend the ingredients, others will just mix the ingredients and come up with something that tasts like manure.
And what has insider trading got to do with the ability to evaluate intrinsic value. Insider trading merely provides an opportunity to profit by trading with upfront knowledge against the market's expectations.
But like i said its all good, it works for me, has worked for a number of years and thus should continue to work, or maybe i am just one of those people who the efficient market theorists hypothosise as being lucky because i have flipped the coin numerous times and have come up with a probability much greater than 50%
Auditors? You mean like Enron's and HIH's?
Yes, I'm totally won over now by that particularly resounding assurance. Where do I sign up again for this bedpals-audited shell-game?
You've seriously got to be doing crack, ol' chum, if you think the malarky stops when the auditors drop in for nip of 50 year-old scotch!
What the omnipresence of insider tradings speaks volumes about, one might infer by the way, is the utter incompetence bordering on indifference of the market oversight bodies in this country (ASX, ASIC, APRA, etc) to police the whole blessed system. Subverted by far beneath rigorous and entirely unenforced accounting standards, the mug punter is at the complete and utter mercy of downright fanastical quantitative deceptions at every turn of the page.
More fool me for my own speculative ventures in the relatively transparent domain of property investing, but Lord help those who venture blind into the shark-infested gloom of sharemarket investing self-crediting their invariable shellackings as the artsy-part of a psuedo-science!
