Tinkering : this is not going to age well

Nice to Beat You :

10baggerbamm : well let's just think about this Tesla does not pay a dividend..

FF-Rise OP 10baggerbamm : Tsll pays

Imatt007 : Only takes me 2,400 working hours to make that in a year.

10baggerbamm OP Imatt007 : well I've had days that on paper I've lost 400,000 .. and when I say on paper I don't mean paper trading I mean real numbers that go poof.. that's why I have to stay with what I believe to be the best companies because if it goes against me I need to have the confidence that they will come back in the next cycle.

10baggerbamm OP Imatt007 : well truthfully a lot of it has to do with being debt-free and I would encourage everybody to make that your primary focus in life. obviously you buy a house unless you're inheriting a shitload of cash or a parent passes away and gives you a property you're going to have a mortgage.. what you need to do is accelerate your payments as much as you can every single month to pay off that property as soon as possible.. you want to eliminate credit cards I was listening earlier this week and they're saying that credit card payments are the rates are 30%. that's financial suicide the banks love it but you're digging yourself a hole that's very very difficult to get out of and I've been there.. once you're able to Free yourself from others aside from your typical 30-day expenses then you can be a little bit more patient on investments.. because we've all seen you buy something you think it's great and a competitor comes out with terrible news and the whole sector gets marked down and now you're down 15 20% before you even got a chance to sell it just gaps that's what happens just like this morning it's gapped up and people that were not invested are chasing and right now the market's rolling over with some profits and sectors and they're probably in the red at a loss.. so time is a way of healing all wounds and not over buying a particular company where you have so much anxiety and stress that you have everything at risk and you can't sleep at night. so you got to spread things around a little bit you don't need to have a hundred companies but four five six companies ideally in at least one different industry so if text going down maybe you got financials going up so at least you can smile a little bit.