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>he invested all the savings he had available from six years working for an investment consultancy in Northern England, or 10,000 pounds ($13,250) He saved jus
by lexapro 8y ago
>he invested all the savings he had available from six years working for an investment consultancy in Northern England, or 10,000 pounds ($13,250)
He saved just $180 per month?
>he said Ether cost about $10 when he invested
So he got lucky by buying in early... not because of successful trading. Yet he gives advice as if he was an expert trader.
- uptown 8y agoThere’s a lot of that on Wall Street too.
- Fnoord 8y agoClassic Whataboutism/Tu quoque.
- exelius 8y agoBingo; if you’ve ever met successful traders they’re usually not that smart. Most were just in the right place at the right time. They try to justify their exceptionalism by giving advice, but it boils down to “be a WASP and get a job at an investment bank”.
- cm2187 8y agoI suggest you go on a trading floor and revisit your wasp comment.
- retrogradeorbit 8y agoThere's no trading floor any more, mate. Well at the very least said floor is a quiet place. Its all hft and electronic trading these days.
- exelius 8y agoThere’s always the exception that proves the rule, but yeah it’s pretty waspy once you move a level above the kids hired out of university.
- thepangolino 8y agoTo be fair, "buy and hold" is probably one of the best investment advice there is.
- superflyguy 8y agoAll companies go bust. Won't you lose all your money that way?
- Uberphallus 8y agoThat's why you don't put all your eggs in the same basket.
- swarnie_ 8y agoNot strictly true. Large traded S&P/FTSE companies are more likely to get bought out then fail outright.
- mulletbum 8y agoTo follow up this question: Isn't that just a gamble too? I buy a company at 10, it goes up to 20, should I get out? I think it will get to 30, the next day it goes to 2 and soon delisted. I can vouch, I have done this. I have no idea what I am doing.
- fred_is_fred 8y agoIf you buy at 10 and it goes to 20, sell half and play with house money if you are worried about it.
- lmm 8y agoNo, that's like saying all lineages die out; there's no reason a company shouldn't continue operating profitably indefinitely.
- superflyguy 8y agoWho mentioned "should"?
- bencoder 8y ago> He saved just $180 per month? It's Northern England. he likely wasn't paid that much.
- drcode 8y agoLol if being a "successful trader" means I'm not allowed to buy assets at a great price then I never want to be a "successful trader".