Lawman Posted July 19, 2008 Share Posted July 19, 2008 I'm interested in joining a discussion board on personal investing. Is there one that's on par with this DB as it relates to motorcycles? Link to comment
David Posted July 19, 2008 Share Posted July 19, 2008 Billy, I don't know the answer to your question, but another option is a local investing club that meets in person. They're a great place to learn. Link to comment
Whip Posted July 19, 2008 Share Posted July 19, 2008 Billy, I don't know the answer to your question, but another option is a local investing club that meets in person. They're a great place to learn. "local investing club" You've never been to East Texas...... Link to comment
eddd Posted July 19, 2008 Share Posted July 19, 2008 Billy, I don't know the answer to your question, but another option is a local investing club that meets in person. They're a great place to learn. "local investing club" You've never been to East Texas...... The head of the local investment club gets a call from Billy. Link to comment
smiller Posted July 19, 2008 Share Posted July 19, 2008 I'm interested in joining a discussion board on personal investing. Is there one that's on par with this DB as it relates to motorcycles? Unfortunately that would mean widely varying opinions, some right and others dead wrong, with the reader having to sort it out. :smirk: Not the best way to learn investing. There are a lot of great online tutorials, and beyond that I would agree with David in that a face-to-face investment club might be a good way to learn (although perhaps not readily available in a rural area.) Link to comment
Lawman Posted July 19, 2008 Author Share Posted July 19, 2008 Unfortunately that would mean widely varying opinions, some right and others dead wrong, with the reader having to sort it out. :smirk: Not the best way to learn investing. I don't let that keep me away from here.. Link to comment
Lawman Posted July 19, 2008 Author Share Posted July 19, 2008 Billy, I don't know the answer to your question, but another option is a local investing club that meets in person. They're a great place to learn. "local investing club" You've never been to East Texas...... The head of the local investment club gets a call from Billy. Ed, I remember getting that call.. It was Johnny Ray inquiring about fertilizer futures.. Link to comment
Patallaire Posted July 20, 2008 Share Posted July 20, 2008 Some of the investment clubs and boards I have encountered are nothing more then opinion groups based on yesterday's news, rumor and strong personalities. You neither know the background of the person leading the discussion, nor do you know the source of their research. The reality of investing is to do research, read all you can, study and you too can be fundamentally right in wrong markets. You need to understand your goals and objectives, your time horizon, your risk tolerance, your short term cash flow needs, etc. Many of the best equipped analysists get it wrong, people with Ph'ds in Finance, math and business, the best computers, the best software and teh best brains surrounding them, miss by long shots. I only make this point to demonstrate how difficult it is. One book you may want to consider is "Fooled by Randomness" Not long ago and on this board, there were threads on investing in California Real Estate and leveraging it to the hilt, there were people discussing investing in China, all well and good, but there have been no discussions on when to lighten your positions in these markets, that there were losses, or that there is a remarkable lack of liquidity in some of the investments. That side is never mentioned, so if you followed the "opinions" you could well be very upside down and not know that maybe everyone else is not because they lightened their positions, moved out completely or were just voicing opinions and had no skin in the game, or they lost their shirts. One way to test your savy is to do all your research, know you are right{in your mind} and do paper transactions, that is don't really invest your money, record the purchase on a spread sheet, as though you actually invested, then record where and why you bought and why and when you sell. Do that for 6 months or a year and see if you made a paper profit. Be realistic about transaction costs and the true cost of money and taxes you would have had to pay to understand net-net profit. Remember, when the tide is rising all ships rise with it, it is not difficult to be bright in up markets. Link to comment
wolcott Posted July 20, 2008 Share Posted July 20, 2008 Motley Fool has a message board/web site. Read a couple of their books. Two brothers who have pretty good knowledge. I checked and they still have a web site/ message board. Think you have to pay to join now. Have cancer so I gave up on thinking about investing; those ideas about a local investing club and picking stocks and following them on paper (make-believe) are both good ideas too. Don't forget your local library with all the financial books out there and usually computers too, if you wish to jump on line, quickly to get some info. Link to comment
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