Author Topic: Stocks! (Read 539 times)

StSanta · « **on:** August 02, 2001, 06:52:00 AM »

Well, I'll be...

I've always considered the stock market and economy overall incredibly boring.

The other day i stumbled upon an online Danish game where you get a set amount and then get to invest them in stocks. These stocks are updated according to the current market.

MAN. This is FUN. I just bought NEC MICON stocks the other day; bought for 379 DKK and they're currently selling for 401. looking at past history and economic numbers from NEC indicate that they're on a low and will rise further.

My tech stocks are still down a few % but on the way up. I have a feeling it'll swing around and by the end of the year they'll have risen.

I know one thing; once I get a steady salary, my extra money goes into stocks. Even if i end up losing every cent, It's downright fascinating just to play. It's like those coin machines at Las Vegas, only much more fun.

Maybe my real calling is as a venture capitalist.

Ruh roh. I'm beginning to sound like a capitalist. And I like it.

Now I'm gonna find some company in trouble, buy off the stocks, dismantle it and fire all employees and then gut it. Fun fun fun.

Ripsnort · « **Reply #1 on:** August 02, 2001, 07:34:00 AM »

Now, take that valuable information you are learning, start my investing, say, 5000 of your own money,take out 1/2 of your investment and pay cash for a new car 10 years later!

(I love microsoft!)

[ 08-02-2001: Message edited by: Ripsnort ]

-sudz- · « **Reply #2 on:** August 02, 2001, 10:18:00 AM »

What's the link, StSanta?

Dowding · « **Reply #3 on:** August 02, 2001, 10:23:00 AM »

Is it Danish language?

mrfish · « **Reply #4 on:** August 02, 2001, 01:11:00 PM »

i started playing one of those games in 1999 with amock 100,000 portfolio. i am cleaned out just like my real stocks.

try this one, there are tons of these things out there. and some of them offer real cash for the guy with the best portfolio each month: http://www.virtualstockexchange.com/

Fatty · « **Reply #5 on:** August 02, 2001, 01:38:00 PM »

Heh, Fish beat me too it. You're lucky you started now instead of a year ago

Zigrat · « **Reply #6 on:** August 03, 2001, 10:11:00 AM »

i lost 5 grand in the stock market. that sucked. when the market went from 5000 to 3500 i figured itd be a good time to buy. LOL! i guess imm not always right

Ripsnort · « **Reply #7 on:** August 03, 2001, 10:18:00 AM »

Zig, you don't lose money if you don't sell. Take a look at the market in terms of 15 years, you'll see that is avg.s about 8% a year over 15 years historically, its all about ups and downs. My portfolio dropped $45,000 in 1 year, but guess what, I'm not selling, so I haven't lost a dime. In 15 years when I tap that money, I won't notice this $45,000 because it will make me ahelluva lot more than that in 15 years.

Fatty · « **Reply #8 on:** August 03, 2001, 10:47:00 AM »

To a point rip, but anything put into the high priced tech stocks in the last 24 months is for all intents and purposes gone (of course at this point hold is a no brainer). You may see those levels again, but not anytime in the near future (read years), by the time it gets there you would have been much, much better off putting it in the most basic savings account.

Long term you're right though, you can't beat it in terms of retirement/college funds (15+ year plans minimum), we're just coming off one hell of a burp.

{edited to put time frame on investment. Even tech at the bottom is good vs investments made 5+ years back}

[ 08-03-2001: Message edited by: Fatty ]

Ripsnort · « **Reply #9 on:** August 03, 2001, 11:06:00 AM »

Anyone who puts all his money in any one type of stock is a fool IMO. Tech stocks? only had 20% of my portfolio in them...

StSanta · « **Reply #10 on:** August 03, 2001, 02:45:00 PM »

Rip: you got any advice for a newbie?

If i get data from a company, I know how to conduct an economical analysis and get all the key numbers and stuff, but other than that I'm totally new.

Agree about the long term thing: so far, my strategy has been to invest in companies that aren't in danger of bankrupcy, and historically have an average that's quite a bit higher than the current value. I know that it'll go up sooner or later.

With tech stuff, I think short term and follow the 80/20 rule.

Ripsnort · « **Reply #11 on:** August 03, 2001, 03:18:00 PM »

I prefer to look for "No-load" funds, that cost little or nothing to maintain. I would suggest Fanny Mae or Oakmark, two that have done me well, both are very diversified.

Best thing to do is call their 1-800 numbers, ask for a prospective, and then evaluate the stocks that each fund invests in...you can go conservative or play it on the edge. Personally, I don't care for small cap funds, I tend to stick to the longer term funds, you can really school yourself by picking up any one of several publications "Money Magazine", etc. and some will post preformances of the mutual funds over 1 yr, 3yr. 5 yr etc.

Find a mutual fund that has performed well,say over 5 years, but pay particular attention to its last 1 year, since that will give you an indication on how it does in a bear market.

I'm a rookie in this too, just been dabbling the last 10 years or so myself...no day trader by any means, I think long term, not short term.

fscott · « **Reply #12 on:** August 06, 2001, 10:39:00 AM »

When you boys are ready for some *real* stock market daytrading, login to #activetrader found on irc.financialchat.net, or go to www.activetrader.net and look under forums. You can find me on the channel with 600+ other daytraders during market hours. My nicj is "dg"

fscott