Author Topic: Getting high on pot stocks, my latest in men's journal  (Read 6390 times)

linter

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Getting high on pot stocks, my latest in men's journal
« on: October 22, 2014, 03:55:15 AM »
if anyone's interesting in reading about how i made and lost a good bit of money trading pot stocks, here's a story i wrote about it for men's journal.  good for bathroom reading with your tablet, if nothing else.

http://www.mensjournal.com/magazine/buying-high-how-to-get-rich-on-pot-stocks-20141021

eastbound

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Re: Getting high on pot stocks, my latest in men's journal
« Reply #1 on: October 22, 2014, 05:22:23 AM »
nice little piece

to me, a trader for 30+ years, they are both clowns. humility is key to long term results and survival (and happiness).
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Dwight (DW)

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Re: Getting high on pot stocks, my latest in men's journal
« Reply #2 on: October 22, 2014, 06:30:00 AM »
Awesome piece.

supsurf-tw

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Re: Getting high on pot stocks, my latest in men's journal
« Reply #3 on: October 22, 2014, 06:45:27 AM »
The big question is if you took the female Wolfie up on her offer.

Great piece BTW
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Tom

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Re: Getting high on pot stocks, my latest in men's journal
« Reply #4 on: October 22, 2014, 07:35:04 AM »
I enjoyed the read.

supthecreek

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Re: Getting high on pot stocks, my latest in men's journal
« Reply #5 on: October 22, 2014, 08:45:31 AM »
Great read Erik.... BUT....somewhat flawed premise.... a clear minded SUPster like yourself, should have seen the instant gains realized in week 2 like this:
$62,000 !?!?!?! Yippee... get my shaper on the line!
$62,000 = 5 new SUPs and 5 winter seasons, Oaring around in a tropical paradise.
SELL....SELL....SELL! Call my travel agent!

Diapers and sponge baths be dammed, hell, who cares about old age... I'll be able to write great stories like this till I go Skegs up  ;D

ps... thanks for my new favorite word...fugue... it describes most of us when gazing at the newest SUP offerings. ;D ;D ;D

LaPerouseBay

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Re: Getting high on pot stocks, my latest in men's journal
« Reply #6 on: October 22, 2014, 08:56:59 AM »
Thanks linter, I enjoyed that.

 / "He lets it be known that he'll be picking up the bill. When the beef arrives, he photographs it for his website. /

Dangerously close to coffee through the nose.

Not saying I laugh at pics of cool stuff here on the zone, but those guys are a riot.
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PonoBill

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Re: Getting high on pot stocks, my latest in men's journal
« Reply #7 on: October 22, 2014, 11:01:21 AM »
Fun article, nice writing, but geez--tough on the savings. Didn't your dad ever tell you that if you don't know who the fool in the game is, it's you?
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headmount

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Re: Getting high on pot stocks, my latest in men's journal
« Reply #8 on: October 22, 2014, 12:20:43 PM »
Setting the scene with ... 8:30 Mexico time... says so much.  And i really enjoyed, "I'd rather be back with Theo bitching about the lack of waves."

Great article and extremely funny, especially from my pov.

linter

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Re: Getting high on pot stocks, my latest in men's journal
« Reply #9 on: October 22, 2014, 12:33:21 PM »
thanks, all, for the very kind words.

bill: i was subscribing to the greater fool theory only come to find out, as you suggest, the greater fool was me.  ooof!  (since i wrote the piece, a few of my pot stocks have gone to zero.  that's right, zero :-()

headmount

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Re: Getting high on pot stocks, my latest in men's journal
« Reply #10 on: October 22, 2014, 01:04:00 PM »
They don't have to be pot stocks to go to zero.  I've had regular ones do that.  The one guys advice about never following a fall past 7% is great advice but in this age of lightening fast trades even having a sell limit doesn't always work.  There was a post in the past about speed trading that made me realize I was in a room full of Samoans with baseball bats.

PonoBill

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Re: Getting high on pot stocks, my latest in men's journal
« Reply #11 on: October 22, 2014, 01:31:38 PM »
Off topic, but anyone who claims they can time the market or predict performance based on even GAAP accounting is either a dreamer, a fool, or a fraud. Looking at it from the inside, even careful research tells very little about the prospects for a company.

Accounting and research: Three years of 85 percent growth with pretax earnings above 35 percent, blue chip clients, owns critical ecommerce and marketing patents, experienced management team, blah blah.

Reality: None of that tells you that the sales team has evaporated and the replacements are bozos, the patents are indefensible, granted by the patent office in response to political pressure about not granting enough patents. All the clients are pissed, and the new management team couldn't find their ass with both hands.

Now add to that market uncertainties and disruptive technologies and no one knows squat--not even the insiders, but certainly not the "analysts". Investment is all about diversification and prudence. Anything else is gambling.
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eastbound

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Re: Getting high on pot stocks, my latest in men's journal
« Reply #12 on: October 22, 2014, 01:44:47 PM »
Invest, yes, with diversification, discipline and prudence.

Trade only where you have an edge, a legal one, that is. I dont trade individual stocks.

I have a few in my investment prortfolio, but much prefer indices for whatever i want in equities.
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stoneaxe

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Re: Getting high on pot stocks, my latest in men's journal
« Reply #13 on: October 23, 2014, 04:30:56 PM »
Fun read.....glad I limit my investments.... ::)
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Re: Getting high on pot stocks, my latest in men's journal
« Reply #14 on: October 23, 2014, 05:33:39 PM »
Great article, but damn- you have to pull some money out when you are up that big!  I started following MJ stocks after the bubble burst and can't find any in the USA that look promising right now.  However, in Canada there are three companies that are publicly traded (on the Canadian exchange) that are actually growing and selling medical MJ.  I gambled a week's wages on one of them.  We'll see what happens! 

 


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