Is Real Estate real
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[quote=BankFC]
Right, it factors in...about as much as an albino chimpanze factors in to the overall look of chimpanzes.
One outlying variable does not constitute a trend. Only liars and the media (which sometime are one and the same) try to prove otherwise.
[/quote]
That's true, but my daughter bought into the hype about how hard it is to sell so she adjusted her expectations regarding pricing and time required and sold in one day.
Obviously they were not asking enough for their house--but the doom and gloomers (of which I am definitely one) caused her to adjust too much.
For the record, she did not ask me or her mother for advice regarding the house--our advice has been, and would have continued to be, to stay put for the time being. Her husband is not even sure he wants to stay with his current job.
He's fairly studly--got a BBA at Texas Christian--then went to Harvard for his MBA and as long as he was iin Boston went over to MIT and got a Masters in Computer Sciences. He's pullling in about $200 grand and he's not quite 30.
[quote=Devil’sAdvocate][quote=BankFC]
Right, it factors in...about as much as an albino chimpanze factors in to the overall look of chimpanzes.
One outlying variable does not constitute a trend. Only liars and the media (which sometime are one and the same) try to prove otherwise.
[/quote]
That's true, but my daughter bought into the hype about how hard it is to sell so she adjusted her expectations regarding pricing and time required and sold in one day.
Obviously they were not asking enough for their house--but the doom and gloomers (of which I am definitely one) caused her to adjust too much.
For the record, she did not ask me or her mother for advice regarding the house--our advice has been, and would have continued to be, to stay put for the time being. Her husband is not even sure he wants to stay with his current job.
He's fairly studly--got a BBA at Texas Christian--then went to Harvard for his MBA and as long as he was iin Boston went over to MIT and got a Masters in Computer Sciences. He's pullling in about $200 grand and he's not quite 30.
[/quote]
First of all, who says the word "studly"? Wait...I forgot, you're the old man who dresses his little dog...that explains it.
I don't believe for a minute your little snipit about your "son-in-law" is true, not because it isn't realistic (I have a great friend who graduated from MIT) but because you are just such a loser.
$200,000 and not quite 30? I made just north of 1/2 that last year...when I was not quite 26. I am debt free except for my mortgage. I guarantee you your imaginary son-in-law is not unless he asked for help from daddy.
[quote=BankFC]
I guarantee you your imaginary son-in-law is not unless he asked for help from daddy. [/quote]
Nah, his father died when he was a teenager.
The reason you're not getting paid like he is is because you don't have an MBA from Harvard and a Masters in Science from MIT.
You are more dense than I imagined. My point is I will exceed his income in three years, all the while building wealth and stimulating the economy by being in the workforce, while conversely this imaginary person was accumulating debt and out of the workforce.
[quote=BankFC]You are more dense than I imagined. My point is I will exceed his income in three years, all the while building wealth and stimulating the economy by being in the workforce, while conversely this imaginary person was accumulating debt and out of the workforce.[/quote]
Why would he be accumulating debt, or be out of the workforce?
Why would his income not go up? From what I understand he is talking to a head hunter about a job in Chicago that will pay north of $400 grand plus bonuses for hitting profitability targets.
[quote=Devil’sAdvocate]
Isn't reality made up of individaul anecdotes?
[/quote]
Only if the sample size is of sufficient quantity and diversity. Your reality is not necessarily real for other people.
[quote=babbling looney][quote=Devil’sAdvocate]
Isn't reality made up of individaul anecdotes?
[/quote]
Only if the sample size is of sufficient quantity and diversity. Your reality is not necessarily real for other people.
[/quote]
Did I say anything different?
[quote=Devil’sAdvocate][quote=babbling looney][quote=Devil’sAdvocate]
Isn't reality made up of individaul anecdotes?
[/quote]
Only if the sample size is of sufficient quantity and diversity. Your reality is not necessarily real for other people.
[/quote]
Did I say anything different?
[/quote]
Yes, you did. Someone posted that the essentially, the residential housing market has topped out. You posted that this wasn't true, and then supported your argument with an anecdote about a daughter and son-in-law (who may or may not exist) and the sale of their house at a price below what they should have been asking (an event that may or may not have happened).
Isn't the internet wonderful? A bitter old man such as yourself can create any world that he likes!
[quote=Starka]
Someone posted that the essentially, the residential housing market has topped out. You posted that this wasn't true
[/quote]
Say what? I happen to believe the housing market is about to implode in a great many places around the country. At no time did I say anything else.
It would be interesting to hear how you financial "advisors" will deal with a client who simultaneously sees his home losing value and his portfolio losing value too.
Do you suppose that could lead to a selling panic of epic proportions?
[quote=Devil’sAdvocate][quote=Starka]
Someone posted that the essentially, the residential housing market has topped out. You posted that this wasn't true
[/quote]
Say what? I happen to believe the housing market is about to implode in a great many places around the country. At no time did I say anything else.
It would be interesting to hear how you financial "advisors" will deal with a client who simultaneously sees his home losing value and his portfolio losing value too.
Do you suppose that could lead to a selling panic of epic proportions?
[/quote]
No, I don't see a selling panic of epic proportions.
Honestly, I think you're whistling in the graveyard with your talk of implosions and market meltdowns. If I was a gambling man, I'd wager that you've put a disproportionate amount of your net worth at risk by shorting the market, and it's you that are about to implode.
[quote=Starka]
Honestly, I think you're whistling in the graveyard with your talk of implosions and market meltdowns. If I was a gambling man, I'd wager that you've put a disproportionate amount of your net worth at risk by shorting the market, and it's you that are about to implode.[/quote]
You'd be wrong. I am so ultra conservative that I scare and frustrate myself.
[quote=Devil’sAdvocate]
[quote=Starka]
Honestly, I think you're whistling in the graveyard with your talk of implosions and market meltdowns. If I was a gambling man, I'd wager that you've put a disproportionate amount of your net worth at risk by shorting the market, and it's you that are about to implode.[/quote]
You'd be wrong. I am so ultra conservative that I scare and frustrate myself.
[/quote]
This from an ultra-conservative options trader. Actually, all your claims of being ultra-conservative ultimately mean that you've been on the wrong side of the markets for years now.
The reality is that to the world, you're nothing but a self involved bullsh*t artist. But to me you'll always be nothing more than words on a screen.
[quote=Starka][quote=Devil’sAdvocate]
[quote=Starka]
Honestly, I think you're whistling in the graveyard with your talk of implosions and market meltdowns. If I was a gambling man, I'd wager that you've put a disproportionate amount of your net worth at risk by shorting the market, and it's you that are about to implode.[/quote]
You'd be wrong. I am so ultra conservative that I scare and frustrate myself.
[/quote]
This from an ultra-conservative options trader. Actually, all your claims of being ultra-conservative ultimately mean that you've been on the wrong side of the markets for years now.
The reality is that to the world, you're nothing but a self involved bullsh*t artist. But to me you'll always be nothing more than words on a screen.
[/quote]
The way I have run my money is to be ultra conservative with my money because my wife, her trust fund, and my parents are about 65% in equities. For example my folks own about 45,000 GE, which scares the hell out of me.
But it was inherited from my mother's family and it is a family tradition yet to be broken to never sell the GE. We are having a family meeting next week and I intend to argue in favor of call writing or something more productive than simply holding it. There are other very sizeable positions--such as 20,000+ XOM, but the GE is the scariest to me. I damn near panic when I hear talk of accountinig scandals and things like that.
My wife's trust has more than 100,000 PL. I'm a bit more comfortable with it, especially since it's from her family and we have very little control over the trust--but we get to spend the money they send her.
Anyway, you're right I have missed most of the run up with my personal money--but not with my family money. As for options trading, yep I do some things that I would be doing if I were on the floor--like I was so long ago.
So far it's been working well--I just have to learn to go flat when earnings are coming.
If you stood to inherit 22,500 share of GE from parents who are both in their mid 80s what would you suggest they do?
You shouldn't feel as though you have to justify yourself to me.
I don't believe a word you say anyway.
[quote=Starka]
You shouldn't feel as though you have to justify yourself to me.
I don't believe a word you say anyway.
[/quote]
OK, means nothing to me if you do or don't. Have you never heard of a family that passed blocks of stock from one generation to the next with the admonition that it should not be sold?
[quote=Starka]Yes, I have. I know precisely how it works.[/quote]
Do you think it's a good idea to put what amounts to a jinx on the generation that holds the stock?
[quote=Devil’sAdvocate][quote=Starka]
You shouldn't feel as though you have to justify yourself to me.
I don't believe a word you say anyway.
[/quote]
OK, means nothing to me if you do or don't. Have you never heard of a family that passed blocks of stock from one generation to the next with the admonition that it should not be sold?
[/quote]
Devil's Advocate, if you're half as smart as you claim to be, I think you know what the prudent (not emotional) decision is...f*ck family tradition! What if the stock was one of the many other past GE's that are now either extinct or former shadows of themselves?
Just because people have money doesn't mean they have brains...as exemplified by the ignorance of running money based on 'family tradition'. I hope you can leverage your good looks and smarts to convince your parents to at least develop the latter (assuming that the former is already accounted for due to genetics).