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redneckdemon (< 20)

CAPS lessons learned in 2008

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January 11, 2009 – Comments (12)

Lesson 1:

Never close a pick in the red.  Better to keep it open and wait it out.  It will either go barkrupt, or give you another chance to see a return in the future.

Lesson 2:

When the big 10 have something to say, you would do well to listen.  They didn't get to be in the top 10 by being wrong often.

Lesson 3:

Don't make a pick with out looking at the sheets.  Just because you read an article or one of your favorite players picked it, dosen't mean it's a good idea.  It ALWAYS pays to do a little research of your own.

Lesson 4:

If the government is getting involved with it, leave it the hell alone.  It might go up, it might go down, or it might come knocking on your door at 2am.  If you know enough to use intervention to your benefit, great.  If you are like me and fairly new at all this, just stay away from them.

Lesson 5:

Ron Paul may not be your political 'go-to guy', but the man knows economics.  Listen to what he says, and you might avoid a few bubbles in the future.  Also a good way to hear what congress is up to from someone who dosen't like government intervention and supports the constitution above all else.

Lesson 6:

If something seems too good to be true, it probably is.  If a stock has a terrible balance sheet, but the price just keeps going up, stay the hell away from it until you can find out WHY.

 Lesson 7:

If you need to know something, ask the guys who make it their business to know.  In CAPS, if you aren't sure how a particular sector works, find someone you specilizes in it and ask 'em.  More often that not, they will be happy to teach you a bit.

Lesson 8:

Precious metals may not be your idea of a valuable commodity, but the rest of the planet disagrees.  Fight it all you like, but until the rest of the world comes around, gold and silver will be looked at as stores of value far more valuable than any piece of paper you can print.  If confidence in the currancy of your nation is in for a ruff ride, owning some gold or silver would be a good idea.

Lesson 9:

When someone decides to take a civil discussion and make it personal, walk away and don't look back.  Don't get involved, because when people fling poo, it tends to splatter.

Lesson 10:

Never argue with an idiot.  People might not be able to tell the differance.

 

Here's to a new year full of opportunity, for growth, for learning, and for making some money!

12 Comments – Post Your Own

#1) On January 11, 2009 at 10:55 PM, abitare (34.29) wrote:

Good post

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#2) On January 11, 2009 at 11:36 PM, binv271828 (< 20) wrote:

I agree, very good post

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#3) On January 11, 2009 at 11:51 PM, SideShowMel0329 (45.71) wrote:

Lesson 8 will bite you in the ass, mark my words. Since when has anyone EVER made money by buying what everyone else is buying? Props to those who bought gold at the turn of the century, but if you're buying now, you're at the top of a bubble that is just waiting to burst.

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#4) On January 12, 2009 at 12:20 AM, ricoy5 (25.86) wrote:

Good post, especially #9 & 10...

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#5) On January 12, 2009 at 1:02 AM, Option1307 (29.68) wrote:

Hilarious, yet really good lessons you learned. And when I say you, I mean me too.

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#6) On January 12, 2009 at 1:30 AM, saunafool (98.68) wrote:

Great list. What I learned:

1. It's a good idea to close the red thumbs when they are winning, unless you are sure the company is going out of business. I lost a lot of points, not because my red thumbs went up in value, but because the market ended up falling almost as much as my underperform picks after my underperforms were already in the tank.

2. Ron Paul has a lot of fanatic supporters

3. People get really emotional about precious metals.

SideShow:  Since when has anyone EVER made money by buying what everyone else is buying? Here is my question: Is everyone really buying gold? None of my investing friends have bought it, not coins, not the ETF's, not the miners. If it is a bubble, it isn't the internet bubble or the housing bubble, because I've never had anyone recommend it to me (except from the blogs/discussion boards here).

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#7) On January 12, 2009 at 2:56 AM, kaskoosek (58.06) wrote:

saunafool

 

+1

 

Buy oil

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#8) On January 12, 2009 at 12:01 PM, mindmuse (73.20) wrote:

excellent lessons learned list!

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#9) On January 12, 2009 at 6:16 PM, redneckdemon (< 20) wrote:

Thanks for the feedback, folks.  I'm glad you liked it!

 Saunafool:

Too right!

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#10) On January 12, 2009 at 8:17 PM, alstry (35.42) wrote:

Hehehehehehehe

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#11) On January 13, 2009 at 3:00 AM, JiveDadson (< 20) wrote:

Bbbbut, but, but... Ron Paul is my go-to guy.

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#12) On March 11, 2009 at 3:18 PM, chiendepyrenees (53.79) wrote:

Great post!  Ron Paul does attract some crazies but he makes some good points about currencies and debt.  He's a little more nuanced than your average goldbug.

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