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by ksl » Mon, 22 Dec 2008 3:03 am
My two cents would be to study the information and pick his brains, rather than fall for the software package of cutting risk. The reason being that I could also list all the same reasons, but you still have to act on the call and normally you wouldn't. and if you did, it would probably be the wrong shot, and you are still to blame.
My own risk assessment would probably have a variation of risk compared to your own, spread over time, the risks get bigger, even if his package was very cheap at say 50$, he doesn't have much to lose in the world of gambling and investment. he knows, and we know, there are literally thousands if not millions of investors, that have no idea, what they are doing, they gamble, they take very high risk, of no research, close their eyes and stick a pin in the data, can just as well turn up a positive return.
These thousands of people may also buy the product, the guy is making money on gamblers, rather than investors, that do their research well... by all means watch the DVD's and visit seminars, providing they are free, but think twice, to invest money and having faith in others than yourself.
If i was to recruit many investors, some are also bound to turn profit, probably more would lose money, but I would only be interested in the positive feedback for my marketing campaign, not those that lost everything. stick with your own knowledge, gut feeling and be responsible for your own call, that way you can look into your own mistakes, in stead of looking into other peoples ,mistakes and finding excuses.
I'm down 75% but confident it will return, providing they don't go bankrupt, and there is no way i would dump, in fact i am at present averaging down in some of the companies, and forgetting also about some of them too, but I would never dump the share, because i am not playing with money, that i need in the short term, and i can also afford to never see it, because its never been tangible, although it is quite a significant amount.
But what the hell, I could be dead, within 5 minutes of writing this post, so does it really matter, then i think of the poor family's that have lost all their CPF money, and i do know some, that actually paid 3000$ on investment courses and seminars over the last 4 years.
I never pay to listen to guys sell their products, i would go and listen to free seminars, with an expectation of meeting closer's, or really good high pressure salesmen, that work in teams, to distract, and seduce, to get a signature on the dotted line, these guys are the cream of the cons, that drive Lamborghini and Ferrari cars.
Also known has fly by nights, they take the commission on pressured sales and do a runner, knowing well, that complaints will be made, and they will not be working for the company longer than required.
Although in the investment game, software that can predict is a good seller, because there is a market for dreams and some will win but the majority will lose, at the end of the day it is still your call.
I also never short prices, or do margin trading, even though i have had the offer from my broker, margin trading in a falling market is a mugs game, and in a bull market the risk is higher, than i am wishing to go.
But day trading or short term trading and T/A i love, because i have more control over my portfolio.
Until I leave it alone, then it is likely to get out of control, because I am busy with other commitments. Hot data is the key to short term trading along with T/A and the understanding of product cycles, and market trends. export and import statistics also give insight to what's happening which i also use.
Contract information is a big plus, for example who supplies Walmart with LCD TV and plasma....there shares are rock bottom, and yet Walmart sales are up, because of the recession. So i guess everyone is buying cheap.
It is time to think of accumulation and/or averaging down that's for sure, so one should be looking at value and a long haul.