cooltouch
07-10-2009, 02:06 AM
This place looks like a great place where I can learn what I need to know to survive in today's market climate.
I've been active in forums for years, forums that cover a wide range of subjects, and even before the emergence of forums on the Internet, I was very active in dial-up BBSes, even ran a 3-node BBS system for a few years before the Internet rendered BBSing archaic.
Point is, I have found that a well-attended forum can be an incredible information resource. The greater "forum mind" if you will, knows all. This is almost always the case.
So for this reason, I'm glad to be here.
Okay, a bit about me. I first began investing in the markets about six months before the tech bubble burst in 2000. I knew when I was getting in that I was getting in at the top. So, I bought some books on technical analysis and studied them, then used the knowledge gained from these books to help guide me in my trading decisions. For the most part, this strategy worked well. By the time the bubble burst, I had almost doubled my investment, and once the decline became apparent, I sold my positions, preserving most of my gains. But in the ensuing year or so, I became increasingly discouraged by the dearth of good stocks to invest in, and pulled out of the market.
I was a very unsophisticated investor. I mean, just about anybody can make money in a raging bull market, and I was no exception. I just had the good sense to know when to get out. Sure, I knew how to analyze charts, but that wasn't enough, by itself, to make money in a market that was going through a turbulent downtrend. And rather than figure out how smart traders prosper in that sort of environment, I just pulled out and put my money in something I did understand: collectibles. I've done okay with collectibles, at least doubling my original investment, but the big problem with them is they are not very liquid, plus collectibles are also sensitive to market directions. The lack of liquidity can also be a good thing. It means I'm less inclined to sell, and thus hang onto my investments. Which also means I'm less likely to liquidate them during times of market downtrends.
In the past few years, however, I've gotten dragged back into the market. My wife has a 401k at her job. She doesn't know the first thing about investing, and isn't interested in learning. She has decided that it's my job to handle her 401k. And more recently my mother is interested in getting back into the market, after getting burned pretty good back in 2000, and after several years of investing in real estate and doing only moderately well at it. My mom thinks I'm some sort of market expert because I know how to read a stock chart, and now she wants me to manage a stock portfolio that she started last year.
So, I'm working with OPM (Other People's Money), but I obviously have a vested interest in making sure what I do benefits the investors . . . since they're my wife and mom and all. I have some rather pronounced constraints because of this, but I still need to do the best I can. Which means I need to learn a LOT more about investing, the markets, how to balance risks with rewards, etc.
I'm hopeful I can pick up much of what I need here. I've begun a reading list also, and if there are any titles you especially think are valuable, I'd be very interested in knowing what they are.
Thanks to the forum owner(s) for providing this resource, and I hope to see you on the boards. I'll be the one asking the newbie questions :p
I've been active in forums for years, forums that cover a wide range of subjects, and even before the emergence of forums on the Internet, I was very active in dial-up BBSes, even ran a 3-node BBS system for a few years before the Internet rendered BBSing archaic.
Point is, I have found that a well-attended forum can be an incredible information resource. The greater "forum mind" if you will, knows all. This is almost always the case.
So for this reason, I'm glad to be here.
Okay, a bit about me. I first began investing in the markets about six months before the tech bubble burst in 2000. I knew when I was getting in that I was getting in at the top. So, I bought some books on technical analysis and studied them, then used the knowledge gained from these books to help guide me in my trading decisions. For the most part, this strategy worked well. By the time the bubble burst, I had almost doubled my investment, and once the decline became apparent, I sold my positions, preserving most of my gains. But in the ensuing year or so, I became increasingly discouraged by the dearth of good stocks to invest in, and pulled out of the market.
I was a very unsophisticated investor. I mean, just about anybody can make money in a raging bull market, and I was no exception. I just had the good sense to know when to get out. Sure, I knew how to analyze charts, but that wasn't enough, by itself, to make money in a market that was going through a turbulent downtrend. And rather than figure out how smart traders prosper in that sort of environment, I just pulled out and put my money in something I did understand: collectibles. I've done okay with collectibles, at least doubling my original investment, but the big problem with them is they are not very liquid, plus collectibles are also sensitive to market directions. The lack of liquidity can also be a good thing. It means I'm less inclined to sell, and thus hang onto my investments. Which also means I'm less likely to liquidate them during times of market downtrends.
In the past few years, however, I've gotten dragged back into the market. My wife has a 401k at her job. She doesn't know the first thing about investing, and isn't interested in learning. She has decided that it's my job to handle her 401k. And more recently my mother is interested in getting back into the market, after getting burned pretty good back in 2000, and after several years of investing in real estate and doing only moderately well at it. My mom thinks I'm some sort of market expert because I know how to read a stock chart, and now she wants me to manage a stock portfolio that she started last year.
So, I'm working with OPM (Other People's Money), but I obviously have a vested interest in making sure what I do benefits the investors . . . since they're my wife and mom and all. I have some rather pronounced constraints because of this, but I still need to do the best I can. Which means I need to learn a LOT more about investing, the markets, how to balance risks with rewards, etc.
I'm hopeful I can pick up much of what I need here. I've begun a reading list also, and if there are any titles you especially think are valuable, I'd be very interested in knowing what they are.
Thanks to the forum owner(s) for providing this resource, and I hope to see you on the boards. I'll be the one asking the newbie questions :p