/biz/ - Business & Finance

>>53815889
BRK-A

>>23990903
You should really channel your energy more constructively. This is a waste of time for both of us.

>>19221696
>>19221696
>>19221696
>>19221696

>>16534585
Agree... took me a while to get used to how but I agree.

Not every day for me. But I do listen to the Cramer and faber one via podcast every day.

>>16400713
NOT Target date retirement funds, people don’t know what’s in these and current monetary policy indicates long term reward from bonds is going to majorly lag.

DO NOT UNDERESTIMATE THE BENEFIT OF HOLDING CASH. Unironically, watch Tonight’s Mad Money, it’s a repeat stock show that gives some of the basics.

Put $6000 in an IRA or Roth IRA immediately, then put another $6000 in next year. Use this so buy broad low fee index funds like SPY, VTI. No need to do it all at once, you can do a bit each month and a lot more when the market pulls back hard.

If you’re interested in being more active, watch those mad money repeats and sit on your hands. Buy index funds and Berkshire Hathaway until you know what you’re doing.

With 400K, you don’t need to take risks to get rich. And you can afford to buy protection AKA gold. 5% of your money in gold, keep it in a safe deposit box. If everything goes well, you’ll LOSE money on that gold. If shit hits the fan, you’ll be real fucking happy you have some stupid rocks in a stupid box.

Don’t buy the FUD that banks might not let you get your rocks. If that’s happening, people are basically about to turn to cannibalism and shoot each other rather than trade rocks.

5% gold, 20% cash, 20% BRKB, 20% SPY/VTI/VIG/SCHX. Then do whatever you want, I don’t care. 5% bonds if you’re skittish. Invest in yourself though, go back to school if you need to. If you’re still paying rent, look for a way to fix that.

>>16155257
DIX is fading, GEX is rallying, it’s entirely possible we get a pullback.

I’m more invested than ever!
:^)

We all know about the Buffetts and Icahns of this world. But which former billionaire lost the most of his net worth? Who is the Anti-Gates?

Silent Generation Golden Pill (MUST SEE ADVICE)

https://www.youtube.com/watch?v=n5JWyPBM_U4

I highly recommend reading this transcript, or at least saving it for later. Munger makes the point that academic economics has an identity problem. It tries to be a hard science, instead of embracing that it's a soft science. Economic professor deceive students into thinking that economic problems can be solved by plugging numbers into equations. I've said before that because economics is a soft science, that that makes it harder to master, and more rewarding, than a hard science. Charlie Munger is a testament to that. He has enormous respect for soft sciences when they are applied as an evolving way to view the world. Economic professor deceive students into thinking that economic problems can be solved by plugging numbers into equations.

Here's some quotes I liked:

"Berkshire’s whole record has been achieved without paying attention to the efficient market theory [...] which came out of academic economics and went into corporate finance and morphed into such obscenities as the capital asset pricing model, which we also paid no attention to. "

"People take four courses in economics, go to business school, have all these IQ points and write all these essays, but they can’t synthesize worth a damn. [...] This failure happens because the professors aren’t all that good at this kind of synthesis."

"It’s my opinion that anybody with a high IQ who graduated in economics ought to be able to sit down and write a ten-page synthesis of all these ideas that’s quite persuasive, [...] and get a perfectly lousy bunch of synthesis. They’d give me Ronald Coase. They’d talk about transaction costs. They’d click off a little something that their professors gave them and spit it back. [...] I would confidently predict that most people couldn’t do it very well."