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Dannydoyle Eternal Order 21214 Posts |
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On Jul 22, 2014, mastermindreader wrote: This thread is cool. A MAJOR over statement, and now a MAJOR under statement LOL.
Danny Doyle
<BR>Semper Occultus <BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell |
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mastermindreader 1949 - 2017 Seattle, WA 12586 Posts |
LOL!
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General_Magician Special user United States 707 Posts |
Why would I know how they operate? I am not in the loan business and I live within my means. You would be amazed at how much more you could afford if you simply lived within your means and made saving, rather than debt, a habit. People scoff and laugh at me but then I remember when aces asked "where do you get all your money to invest!?" and the answer is simple: live within your means and make saving a habit rather than debt. You would be amazed at what it will do for you. People these days just don't believe in saving or staying out of debt. Probably the last time we as a nation believed in living within our means or staying out of debt was the days when Thomas Jefferson paid off our National Debt when he was President (and he learned the hard way the importance of staying out of debt).And we can see, today, we are a big time debtor nation and it hasn't helped us as a nation.
When somebody comes along who actually does stay out of debt, saves and lives within his or her means; it's a mystery to others as to where that person's money comes from to invest. But it's no mystery, it's rather quite simple actually and you don't need to be a genius to understand or do it. Anybody can do it, it's just up to the individual. You do need focus and discipline though to stay within your means and set aside some of your earnings as an emergency cash reserve and to invest towards financial goals. Goal setting is important too and many people these days don't set goals and if they do, many lack the discipline and focus to carry through to meet those goals. Debt is also not a firm foundation from which wealth is built. It's hard work, good planning, staying out of debt, saving, goal setting, investment, discipline and focus.
"Never fear shadows. They simply mean there is a light shining somewhere nearby." -unknown
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LobowolfXXX Inner circle La Famiglia 1196 Posts |
You'd be amazed at how much more you could afford if you could make 180% per year on your money.
"Torture doesn't work" lol
Guess they forgot to tell Bill Buckley. "...as we reason and love, we are able to hope. And hope enables us to resist those things that would enslave us." |
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tommy Eternal Order Devil's Island 16532 Posts |
They are using people to make money.
You've gotta tell them. You've gotta tell them!
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.
Tommy |
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Dannydoyle Eternal Order 21214 Posts |
Why would you then judge them and make sweeping generalizations about things you do not understand? THAT is the better question isn't it?
Danny Doyle
<BR>Semper Occultus <BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell |
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balducci Loyal user Canada 227 Posts |
Quote:
On Jul 22, 2014, S2000magician wrote: Outside of Lobo's example, speaking more generally, arbitrage is riskless in theory but not necessarily in practice. "In principle and in academic use, an arbitrage is risk-free; in common use, as in statistical arbitrage, it may refer to expected profit, though losses may occur, and in practice, there are always risks in arbitrage, some minor (such as fluctuation of prices decreasing profit margins), some major (such as devaluation of a currency or derivative)." "Arbitrage is not simply the act of buying a product in one market and selling it in another for a higher price at some later time. The transactions must occur simultaneously to avoid exposure to market risk, or the risk that prices may change on one market before both transactions are complete. In practical terms, this is generally possible only with securities and financial products that can be traded electronically, and even then, when each leg of the trade is executed the prices in the market may have moved. Missing one of the legs of the trade (and subsequently having to trade it soon after at a worse price) is called 'execution risk' or more specifically 'leg risk'." Even in Lobo's case, there WAS risk involved ... albeit at a very minimal level. Certainly the risk / reward was heavily weighted in Lobo's favour.
Make America Great Again! - Trump in 2020 ... "We're a capitalistic society. I go into business, I don't make it, I go bankrupt. They're not going to bail me out. I've been on welfare and food stamps. Did anyone help me? No." - Craig T. Nelson, actor.
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S2000magician Inner circle Yorba Linda, CA 3465 Posts |
Quote:
On Jul 22, 2014, balducci wrote: If it isn't risk-free, it isn't arbitrage. Statistical arbitrage is a bastardization of the term, as is, for example, merger arbitrage. In practice, as you note, there aren't many arbitrage opportunities. But those that exist are, by definition, risk-free. |
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tommy Eternal Order Devil's Island 16532 Posts |
Supermarkets, they don't make money by selling things at a profit. Supermarkets, they make money by keeping people waiting for their money.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.
Tommy |
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mastermindreader 1949 - 2017 Seattle, WA 12586 Posts |
What do you mean by "supermarkets," tommy? Here in the US the term usually refers to grocery stores.
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General_Magician Special user United States 707 Posts |
So what about all this debt people are getting themselves into? Are we just going to have to go from debt crisis to debt crisis and let these debt bubbles blow up in our faces each time and come close to destroying the economy each time while only a handful few make all the money from each crisis? Is this the way to long term prosperity for our economy? I can see where small minority prospers, but it all comes at the expense of the economy and the vast majority of everybody else. What about wealth that is generated by benefiting everybody and that doesn't harm the economy in the long term and actually helps the economy in the long term? See these debt bubbles haven't been helping the economy, but rather harming the economy but benefiting a few people. Legitimate wealth, is wealth that helps the economy in the long term and doesn't leave a bunch people in ruins while a small minority makes all the money. Going from debt crisis to debt crisis going to hurt this economy, I guarantee you.
"Never fear shadows. They simply mean there is a light shining somewhere nearby." -unknown
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mastermindreader 1949 - 2017 Seattle, WA 12586 Posts |
What does that have to do with the "good debt" being discussed in this thread?
Nothing. Debt can easily be used to make money. There have been plenty of examples here to prove that is the case. |
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Dannydoyle Eternal Order 21214 Posts |
He has his religion. He has his truth. Everyone else is wrong.
Danny Doyle
<BR>Semper Occultus <BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell |
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General_Magician Special user United States 707 Posts |
Quote:
On Jul 22, 2014, mastermindreader wrote: Staying out of debt, saving, setting goals and investing towards my financial goals seems to be working fine for me Bob. Why would I want to change that? I also think debt is very dangerous and get you into a lot of financial trouble. Why take the risk? I am perfectly willing to risk my own money because if my risk doesn't pay off, at least I won't owe anybody anything and I won't have to worry about lawsuits from creditors. Not only that, but it sure seems like I have a lot more money rolling in then I would if I had to pay off debt along with the interest that accumulates with debt. Sure seems a lot easier to afford things when you don't have to pay off debt and the interest associated with debt. I am very suspicious of any notions of "good" or "bad" debt. This sounds more like a marketing gimmick that banks or loan companies like to come up with to sell more loans. I am sticking with what I know that works and that is staying out of debt, saving, setting goals and investing towards those goals. I'm not trying to get rich quick. Sure, if I never take out a loan, and all the sudden I desperately needed one, I could end up paying a higher interest rate but all it takes is just one missed payment or a late payment to have your interest rates jacked up on you. I think it's better to have a strategy that prevents you from needing to go into debt in the first place.
"Never fear shadows. They simply mean there is a light shining somewhere nearby." -unknown
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Dannydoyle Eternal Order 21214 Posts |
What loan jacks up rates if you are late just once?
Danny Doyle
<BR>Semper Occultus <BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell |
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tommy Eternal Order Devil's Island 16532 Posts |
I mean massive shops which sell everything including food. I guess they are like your walmart perhaps. We call them supermarkets.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.
Tommy |
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mastermindreader 1949 - 2017 Seattle, WA 12586 Posts |
Do what you want, William. The fact remains that knowing how to leverage debt is something that nearly every successful businessman understands.
But as you've often said, it's a good idea not to do things you don't understand. |
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Bob1Dog Inner circle Wife: It's me or this houseful of 1159 Posts |
I'm sorry, but I'm gonna step up and say that I've been debt free for the last fifteen years; have made a good living, saving and staying out of debt. I'm a businessman in the sense that I manage my family finances. I'm a corporate retiree who made a good living and managed my finances. And I used debt, but only to borrow against equity to buy shorter term mortgage debt. So, while leveraging debt may work for some, it may not work for all. I don't agree with GM on some issues, but I think some of you are a little harsh on him for his belief system. If it works for him, geeze, let it go.
We all have our nuances in how we deal with our finances and I'm pretty happy with the way things turned out for me being debt free for the last fifteen years. It's a nice feeling to say to yourself, "I don't owe **** to anyone. Period. I like that feeling, and perhaps GM does too. So be nice folks, huh?
What if the Hokey Pokey really IS what it's all about?
My neighbor rang my doorbell at 2:30 a.m. this morning, can you believe that, 2:30 a.m.!? Lucky for him I was still up playing my drums. |
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General_Magician Special user United States 707 Posts |
Leveraged debt can also be risky from what I have been reading Bob. Here is a link that I have read on the use of leveraged debt:
Quote:
A simple definition of "leverage" is something that provides an advantage. There are two primary types of leverage used in business: financial leverage and operating leverage. A company usually gains financial leverage to boost stockholder earnings, as a result of its use of debt and preferred stock, which is stock where the holder receives dividend payments first, before other stockholders. Operating leverage is a measurement of a company's operating risks and refers to fixed costs -- those that remain relatively unchanged, like rent, advertising and insurance -- which increase operating profits. Although both types of leverage lead to increased risk, when successfully implemented, each can be significantly beneficial with little investment necessary. http://www.ehow.com/info_7930445_leveraged-debt.html I think it's unwise to use leveraged debt in the pursuit of getting rich quick. As an investor, my goal is to minimize and manage risk, not increase risk.
"Never fear shadows. They simply mean there is a light shining somewhere nearby." -unknown
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S2000magician Inner circle Yorba Linda, CA 3465 Posts |
Quote:
On Jul 23, 2014, General_Magician wrote: How about in the pursuit of getting rich slowly? |
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