Mental Rehab Post #48
Before the madness of school kicks back in, and this becomes a virtual montage of griping about having no free time and I can't believe they want us to do all that, I gonna halfway empty my mind (partially to make space) and because the foolishness around me just won't end.
"My new plan is to make 3% per day."
This is an actual statement made by one of my co-workers, one of the new age super day traders who apparently don't actually read the finance pages. Makes you wonder what the hell the old plan was, because this is his revised low key edition. The "office moguls" lately have been lamenting so lesser than stellar portfolio performances, and the talk is now a bit more subdued. One almost hopes they'll reconsider and actually start doing their jobs.
The three percent per day plan is leaps and bounds past what Ponzi master Bernie Madoff was selling, and if you could make 3% a day trading stocks reliably the term "finance guru" would be used to describe the people who listened to the guy who washed your Porsches on Thursdays. The guy who washed the Ferraris on Friday would be an actual financial genius. It's like they don't understand math.
I'm not against the dream. I told my older brother years ago that we obviously had no real desire to "get rich," as we both knew how to do it but were chasing other endeavors. But even the methods we were aware of involved hard work, research, dedication and time. My question to the office moguls is, if it was so easy just trading stock part time...then why isn't everyone doing it? Do they think they've discovered something or realized something nobody else knows? I like to think of it like Texas Hold'em poker. For a hot minute everyone was playing, then suddenly it was over. And since the market really is a big casino - I won't even get into that - this really is a form of gambling. Which is worse.
Also, my brother got a guitar for Christmas and I'm almost certain his acoustic album will be out next winter, so look for it.
Now my favorite of the office moguls didn't even understand that trades have to settle before he can use that money to buy a new stock until last week or so. He really didn't get it that when they confirm a sell order it doesn't mean that stock sold at that very second and money changed hands. He did it on the internet ya know, and if it happened on the internet it must have been instant, he's sure, and they're just holding his money to spite him. Yet he KNOWS he can make 1% per day for a few years. The 3% claim is from the guy who advises my favorite mogul, and also invests. They're a matched set.
All I can say is that somebody better save Social Security, because these folks are gonna need it.
Barkeep, I'll have a smoothie with that B-12 kick, my friends here will need something stronger.