Kinja reply list

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Hamilton NolanHamilton Nolan
6/16/16 11:31am
This survey explains the entire hedge fund industry btw.
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  WatermelonembassyHamilton Nolan
  6/16/16 11:32am
  And Trump
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  The Ghost of ¯\_(ツ)_/¯ AKA BabyStepsHamilton Nolan
  6/16/16 11:36am
  It explains or is illustrative of so much more than that. The state of American politics can at least partially be explained by the inability of the average citizen to understand the complexities (the word complexities should not necessarily be confused with the word “complex”) of government or of how “capitalism” works or . . .
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Low Information BoaterHamilton Nolan
6/16/16 11:29am
I don't want to be rich, necessarily. I just want to be richer than everyone I know. So they know that I'm better than they are.
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  NorbsLow Information Boater
  6/16/16 11:31am
  Which is why I never leave the house.
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  EvenBaggierTrousers4Norbs
  6/16/16 11:32am
  ...or watch television.
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GrumpyEagleHamilton Nolan
6/16/16 11:55am
It also explains why so many entry-level, minimum wage jobs go begging, especially when it comes to getting younger workers to take them. I just had a discussion with my youngster addressing his complaints that his summer home-from-college job sucks because the pay’s not so good (It’s a low-skill union job in the construction industry that actually pays twice the minimum wage but it’s hard, hard physical work). It’s hard to convince him that the ads for high-pay sales jobs he sees on Craigslist are largely bunk, the payoffs are seldom as promised, and there are better, more legitimate ways to up your earnings. (And by the way - Vanguard is actually one of the less-weaselly investment firms out there; I've invested reluctantly for years, but felt better about it after seeing an interview of the company founder, Jack Bogle.)
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  jroberts548GrumpyEagle
  6/16/16 11:58am
  Because entry level, low-pay, unskilled positions have no room for advancement. It's a miracle anyone takes them at all.
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  GrumpyEaglejroberts548
  6/16/16 1:18pm
  But sometimes you do need a job like that because you're actually unskilled, and you don't intend to make a career of flipping burgers or filling fry packages or selling jeans or sports shoes. What sucks is when adults end up having to resort to jobs like that for their livelihood, but for high school/college kids, those jobs aren't necessarily a bad thing.
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Tarquin Fin-tim-lin-bin-whin-bim-lim-bus-stop-F'tang-F'tang-Olé-BiscuitbarrelHamilton Nolan
6/16/16 11:30am
It may be true that the global stock market return is less than half of what’s desired, but historically U.S. stocks have returned close to 9% real and 6% after inflation.
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  Tarquin Fin-tim-lin-bin-whin-bim-lim-bus-stop-F'tang-F'tang-Olé-BiscuitbarrelTarquin Fin-tim-lin-bin-whin-bim-lim-bus-stop-F'tang-F'tang-Olé-Biscuitbarrel
  6/16/16 11:33am
  whoops, meant 9% nominal and 6% after inflation.
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  BeABigRedOneTarquin Fin-tim-lin-bin-whin-bim-lim-bus-stop-F'tang-F'tang-Olé-Biscuitbarrel
  6/16/16 11:44am
  Sadly, “historically” no longer means very much.
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toothpetardHamilton Nolan
6/16/16 11:28am
https://en.wikipedia.org/wiki/Skin_in_t…
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  Predatrixtoothpetard
  6/16/16 11:31am
  Preferably someone else’s skin.
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  Quasar Funktoothpetard
  6/16/16 11:45am
  
  .
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cuntybawsHamilton Nolan
6/16/16 11:35am
Wait, this “investment” malarkey doesn’t replace the current policy of shooting everyone else until the last person standing has all the cash, right?
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  jtscottcuntybaws
  6/16/16 11:45am
  https://en.wikipedia.org/wiki/Tontine
  
  Let’s get one going.
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SnarkycatHamilton Nolan
6/16/16 2:39pm
Shaq, of all people, had the most reasonable thing to say about investing. In a recent interview, after recounting him overdrawing a $1 million endorsement check’s proceeds on cars and associated fancies in a couple days (!) as a rookie, he tells of his long-time family friend and community banker having a sit-down and telling him he has to be careful not to blow his money. Shaq then set about interviewing financial advisors, taking to heed warnings from some NBA “old-timers” that if the returns sounded too good to be true, they probably were.

He went with the advisor who recommended he sit heavy in bonds including savings bonds (which, in the early 1990s, actually weren’t horrible).

Sad a Superman is more in-tune with what’s realistic about investing than most Clark Kents are.
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  Tom Waits's Old HatSnarkycat
  6/16/16 6:07pm
  I feel like investing heavily in bonds when you’re as young as Shaq probably was at the time isn’t that good a move, but
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  SteveInWITom Waits's Old Hat
  6/16/16 9:45pm
  Probably not if you want to maximize expected return, but for a guy earning tens of millions (maybe hundreds? I don't remember what NBA salaries were like then nor how much his endorsements were), I would guess that the lower risk outweighs the lost opportunity for higher growth. If you've already got generational wealth, preserving it is more important than growing it. Totally different from a 30-year-old with $25k in a retirement account.
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Sid and FinancyHamilton Nolan
6/16/16 11:38am
Worked for Hulk Hogan.
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xtrappedunderricexHamilton Nolan
6/16/16 11:30am
Survey: People Want Money
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  EvenBaggierTrousers4xtrappedunderricex
  6/16/16 11:34am
  
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  xtrappedunderricexxtrappedunderricex
  6/16/16 11:36am
  Survey: People Want to Lose Weight Without All the Dieting
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stuckinthegreyswithyouHamilton Nolan
6/16/16 11:41am
Triple leveraged ETFs should be illegal. A lot of people don’t understand that they were never designed to be bought and held. In fact, their not really designed to be held for days and sometimes even hours. You can be right, but you HAVE to be right within a certain timeframe in order to make money, due to the excessive costs involved in owning them. This complicates the game even further.

The brokerage firms keep coming up with trading tools to track commodities that trick investors in to thinking that they can get rich quick. The problem is that you can also lose a LOT of money in a short amount of time. They don’t care because they get the fees regardless.
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