Yes, I saw before I saw your post, and edited my post. Thanks for correcting me however. He had it right.

I'd really recommend doing a balance sheet at FMV.

Assets = Liabilities + Equity.


Organizing it any other way can lead to material misstatement.

Yeah my dad was on the other side of that. I'm not sure if he had any land loans, but I know he had an operating note.

I asked him a couple years ago how the hell he managed to survive that. His answer was legitimately, "I don't know."

Not sure what's high maintenance about making a decision and sticking with it.

Also not sure what's high risk about it.

What age are you? That's probably better than 97% of all other Americans

Freighters had more but loaned it to the Faid to sign Sean S.

Just calculated my net worth.....:deevee:

R8RFAN is doing well at age 50. Don't believe me? Just ask him, he'll tell you himself.

Main stocks I'm in: NVAX (well run company, looking for a run up soon) and AMDA ( FDA approval shortly, much riskier, sell on any major pop). Also swing trade bombardier usually once a week from low 1.90's to high 1.90's and make my 5% and repeat process. I'm a student so I'm not playing with a ton of cash (under 10k) but I am making money.

Lots of Hillbilly millionaires on the Planet.

I think I am going to liquidate my portfolio and buy a field full of junk cars and let them sit until some sucker buys them-that will be a great investment when my property tax bill hits in December. 30 cars at $200 a year property tax=$6,000 loss per year on a depreciating assets.

That is a good way to keep your money earning for you. Sounds like you are building up some wealth. :clap:

I am NOT a junk runner. Absolutely the opposite. I'm trying to keep focused on what gives me a return.

However, if you are a junk runner, you don't tag them. And they're also not depreciating if you pay nothing for them.

If you have a field full of $10,000 10 year old cars, yep, you're right. But junk runners don't do that.

ROFL, you are a ****ing idiot that cant figure out how things work, but that is par for the course with you.


thats why you have failed in life...

im not a "junk runner" either lol. i generally only buy classics and rebuildable ones at that.

but you are totally correct i title them in my name but never tag them. why would I?

i probably turn more profit from that than halfwit does in everything he does in life.
EDIT: most of the classics i'm buying are only gaining value, they only made so many and there are only so many left...


and while typing this i got a call on the 69 camaro. i think its sold tonight. add another 1500 bucks on top of the 10 grand from a $3000 cash and 2 saturdays of work investment, PLUS i still get to keep the truck i wanted and a car hauler trailer and gave another car hauler to the kid who works for me too...

I thought I had a decent idea with an app that those with junk lots can choose to list what they have available parts wise and therefore be matched up with potential buyers. Lo and behold it had already been done. I hate seeing acres of discarded hunks of metal that just sit there for years on end.. just seemed so wasteful.

"I reckin' I better sell some more weed so I can buy some barns to store my junk cars in!"

I shouldn't say junk runner in reference to the stuff you've posted about. But there are some junk runners around here (my guess is they are actually running JUNK) and not a damned one of them tags them.

you are a ****ing idiot.

Part of the answer was inflation was sky high. Year over year income was increasing dramatically too.

Basically, take all your income, your obligations, your assets, and add a zero to everything year over year, and you sort of get to the same result. Everything is the same, just "more".

The people that got screwed were people that were laid off, or on fixed income, etc., or who were just sitting on cash and not deploying it. Then you get killed becuase costs/expenses are increasing dramatically, but income isn't.

So you said this:


Which I read as suggesting that you ivnest in IMMATURE businesses and industries, which necessarily entail higher risk. For ****'s sake, that is precisely WHY you get a higher return, potentially. Because you ARE accepting higher risk.

Which is fine, but it's takes alot more work, patience, effort and knowledge versus, say, putting in a fixed amount every month like clockwork into a total stock index fund, or Vanguard 500 index fund.

I didn't say your approach was invalid, I simply said it's higher risk, higher reward, and higher maintenance. I can't fathom that you disagree.

Not really. In the 70s it was that way. Inflation is the reason the fed hacked the interest rates through the roof. At the peak of the interest rates, the fed had quite effectively slowed the economy and put a cork in inflation. Then you had the recession. Ag works independently but similar things happened. Land values tanked and all the balance sheet loans that were made in the 80s were suddenly unable to be serviced without the inflation.

Good times had by all. And by all I mean no one.

]

Yea I do 10% m ost of the time but when I am making too much money in the year I up it to 25% I have about 250k in my 401 right now. Good advice thanks

When I was young I got up to my ass in debt and I didn't like the way it felt so I said never again.. I just don't spend alot of money and I have a wife that is the same way. I live in an average size house in an average neighborhood but the cost of living is lower here than most places ... I have been blessed with health and my family has too, I feel sorry for people who lose it all to medical bills ... I never had to have the best when I bought something but I always tried to buy quality and take care of it. I was lucky to get a good job with a good company that paid well ... LTL Trucking pays good, it's hard work and long hours but it pays good but I know it's not everyones cup of tea.

Stop doing all of that.

People's reactions to market fluctuations always fascinate me. Only in the market will the average person buy high and sell low.

Im sort of in the market....I just bought a new Chevy 2500 High Country and I love it. But Im leaning toward a "chore truck"..I like the 66 chevy pickup, 71, and 91. single cab short bed 4wd.

Id kill for a 69 mach 1 but wife would kill me.

Yeah I let someone else deal with the junk. I know a couple guys who just junk and I let them come clean up the shit I don't want and give it and the scrap from the shop to them and they clean everything up. Trash too.

Scrap isn't worth my time. I did it myself a couple times and felt like I lost money.

I've got a 15 ltz with custom sport trim package and love it.

I don't have any 63-66, the 67-72s I keep. I just sold four 88-94 body trucks. They were all long bed though.

There is a guy I know around tightwad that always has a couple trucks for sale 63-66 seems to be his thing.

Ive done plenty of work for him in the past I'll see if I can find his number at the shop tomorrow and see what he's got. If i was going up that way tomorrow I would just stop there on my way by, but I'll definitely be that way next week

How can you put 25% into your 401K as the limit is 15%? :hmmm:

The limit isn't 15%. If I'm not mistaken, the limit is based on a contribution amount. I was told by Fidelity, who runs the 401k plan for the company I work for, that I couldn't contribute more than $18,000 per year. That works out to about 9% of my gross salary so I have 9% contributed to my 401k with a 100% employer match. Someone who makes less can obviously contribute at a higher percentage and someone over 50 years old can contribute more because there is a catch-up contribution clause.

Age accelerated?

Maybe he is talking 25% of AGI?

I'm so long removed from the 401k game, I don't remember the rules.

Lone Wolf had it right. 401(k) contribution limits aren't based on percentage of income, but rather flat amounts. $18,000 for <50 years old. $24,000 if you're 50+.

Yup. One of my pleasures in turning 50 was jacking that up.

i think I can put up to 50 but that does not mean I will get 50% matched
http://thumbnails116.imagebam.com/49...e492450635.jpg

You can only contribute a max of $18,000 of your money per year if under 50 and $24,000 if over 50. Percentage doesn't matter.

Yea I never go a full year at 25 so I have never hit that mark, just turned 50 a couple months ago so basically a 100k job can contrib 25% per year and be right at the max at 50 yrs old right?

Today was a good day. Better if you own LLY. But Im still afraid of the EU/Brit issue and Trump going goofy about trade negotiations. From a stock market perspective, he frightens me.

Correctamundo.

Worry about your local economy too. He goes and jacks with trade it may hurt our capacity to retail grain and meat to world markets.

Im all over that. I cannot stand Hilldog but Trump scares me to death!! Ag is dead under his goofy trade positions.

Hillary too. Only hope is that we can get some respectable fools in Congress.

And Tim Huelskamp is the incumbent in my district :facepalm:

Math is hard mmkay

Being a dickhead is easy though right?

;)

I hope everyone went on a stock buying spree during the two-day Brexit stock collapse. It's now back pretty much where it was before the vote.

I was really pleased to have Hershey stock today. I sold most of it and kept my profits invested. It almost makes up for my terrible timing in buying Editas stock last week. I broke one of my cardinal rules to buy Editas and it's burning me. I typically never buy a stock that doesn't pay a dividend.

This is a long shot, but has anyone done the Teacher Loan Forgiveness program recently? My wife applied for it about a month ago, and I don't see any reason she won't be approved, but we're just curious roughly how long the process normally takes.

Why do teachers deserve to have their student loans forgiven?

In my wife's case, she wouldn't have become a teacher without it, and she's in a field where there literally aren't enough teachers to fill classrooms (special ed).

No. But good luck.

The markets got sooooooo scary for a few days.

Like so scared and stuff.

Just placed an order for 500,000 shares of ONCI at .0014. Gonna be rich !

It's a publicly traded company with $130,000 in annual revenues and two employees? Good luck with that.

I once had some extra office space and leased it to a shyster. I didn't know he was a shyster, but he was a terrible human being. He was the president of a publicly traded penny stock company, and it literally didn't exist. No products, no employees, nothing except one rented office that he was always late on paying and one piece of stolen equipment that we had to return to the manufacturer after we finally got rid of him. After seeing that, I would never put a penny into a penny stock.

But hey, good luck with yours. I hope it's real and that it takes off.

Hog Farmer is about to be $2 richer and you are going to look like a fool.

:D

If it's anything like the company I saw, I bet the president of that company is using hogfarmer's angel infusion to buy a Playstation 3.

I recently starting using an app called Stocks Tracker on my Iphone. You can track any stock buy looking up their symbol or add it to a list for easy finding. You can even put in all your investments, including cash, and track the gains/losses of your portfolio in real time. Click on any stock to see it's monthly/yearly gains/losses in chart form with 52 week highs/lows as well. It's pretty handy and this is just the free version. Pay $10 to get the "full" version, but so far the free app seems plenty good.

Meanwhile the Dow is currently 200+ today.

Damn, It went from .oo14 to .0019 and now it's at .0011. :cuss:

I'm very very consistent in my stock purchases though. If you will follow me and do EXACTLY the opposite of what I do , you will become very wealthy.

It seems like now's the time to double down. If you liked it at .0014 you'll like it better at .0011. Plus, they now own a new Playstation 3.

The key is to live below your means. Let your money make money. Be patient.

I liked it at .0019 ,but went to take a piss !

I just put money (a week ago ) into HGICX which is a mutual fund . Has averaged around 9.5% for the last 10 years.

Looks like the 52 week high was .0059 .

Hog Farmers makin it.

Cue the song "Movin on up"

I want to invest in Hog Farmers company. Bacon is always hot and likely a tradable community in world chaos.

Well, my company is not a publicly traded company but if you just want to send me a check that will be fine. anyway I bought some jerk an xbox and I need my money back.

Yeah, but whoever bought it at .0059 bought him a European river cruise, so you're ahead of the game.

I just bought some KNX today. I guess trucking has been struggling a bit, but it seems to me that there's no permanent clouds on the horizon.

How's steel doing? Did you ever buy any? I pondered that for quite a while. I like industrial stocks for some reason.

Who do you use to make your trades?

If there's one industry that's risky but also a bit recession proof, it's alcohol. Not a bad investment option to have in your portfolio.

Diageo (DEO) is a good company and owns many top selling brands of Alcohol. Their stock has always remained rather strong.

I just invested in a company called Willamette Valley Vineyards out of Oregon (WVVI). I like their company structure, family owned and has really taken off in the wine making business in the past few years.

Don't look now

I looked the other day and (x) US Steel was at $17 I believe. When I was pondering I think it had gotten down to $8. I should have borrowed $8,000,000and jumped in. Would have made a cool 9 mil.

What online trade sites do you guys use to buy/sell stock?

Questrade

Also gonna pump but you guys should look up AMDA, I've been in it and tracking for a while. I'm underwater because delayed FDA last year, but the company just diluted and warrants and all that crap, but it's trading under the $1 warrant value with FDA looming within 30 days (finally). It's risky but its shown strong support after falling to a new bottom with literally all bad news out of the way. Unless FDA denies but that seems unlikely.

It likes to pop a ton (20-40%) and then lose its gains within a few weeks. Historically is has done this, so I suggest entering at .90 with a stop at .82 (which would be a new low). Sell on any pop.

Why do you like Questrade?

Also, stock twits is a great resource, it's like twitter for stocks.

Be wary of shitty pumpers and bashers, but I really like it because there are solid people who post rumours, news, PR's immediately upon release, stuff like that.

I like it because I'm Canadian and big banks gouge the crap out of me. I used to be with TD and pay $10 per trade, now I pay $4.99 with Questrade.

TD bank did not offer aftermarket/premarket trading without literally having to call them or having a 25k balance in your account/ 300$ a month data package or something. It was annoying because most news is released after 4pm.

Questrade has a better layout, better price on options for me (rarely trade them but it's nice). And they have a data package with real times quotes for Nasdaq, TSX, etc for like $20 a month or free with I think $49.95 commission, so 10 trades a month and it's free.

Their customer support is amazing, they offer a live chat which really helps. Withdrawing money is simple, as is funding. Just direct deposit and you're set.

EDIT: With Questrade I can trade OTC as well, TD and some other large institutions make it harder than it should be, especially trading smaller cap-companies.

Another MASSIVE plus for Questrade is that if Canadian, you can use your tax-free savings account to trade but you can hold Canadian AND American dollars in it. This let me settle trades in american dollars. With TD you could trade in US dollars but the trade would settle in Canadian and I would have to exchange it again. This let TD take a bite out of my money with their commission on every exchange. If I gained 3% on a trade I would lose it on the exchange. It wasn't worth it.

Okay, I was looking at Scottrade but I will check out Questrade before making a final decision.

All Canadians, don't know if many of you are Canadian here, but eh, guy, you should invest and trade stocks with a TFSA. No taxes on gains, no write offs on losses though. There are contribution limits like 10k per year but it accumulates every year since you turn 18 or when the TFSA was introduces (2010 ishh??).

So yeah, being able to hold both CAD and USD in my TFSA at the same time is amazing.

Keep in mind that you may not be in Canada but a lot of what I said applies to the US questrade too. It may even be better.

There more legit options in the US than Canada but yeah, just research it.

I should listen to you more often.

Did you ever look at Trade King? The attraction to TD is their commission free ETFs.


Great info too. I just liked Stock Twits on Facebook so I can follow them now. Thanks.

What if you don't make shit?

Stop wasting your time on CP and get a better job.

You should be building an emergency fund then and setting aside even small amounts if your employer offers any retirement funds.

Then you work on bettering yourself and working on job prospects to start making more or switch careers to something with more of an increased career ladder.

Start working harder