Author Topic: Getting high on pot stocks, my latest in men's journal  (Read 6391 times)

PonoBill

  • Cortez Bank Status
  • *****
  • Posts: 25864
    • View Profile
Re: Getting high on pot stocks, my latest in men's journal
« Reply #15 on: October 23, 2014, 06:03:10 PM »
Gambled is the right word.
Foote 10'4X34", SIC 17.5 V1 hollow and an EPS one in Hood River. Foote 9'0" x 31", L41 8'8", 18' Speedboard, etc. etc.

Seafarer

  • Waikiki Status
  • *
  • Posts: 43
    • View Profile
    • Email
Re: Getting high on pot stocks, my latest in men's journal
« Reply #16 on: October 23, 2014, 06:30:41 PM »
Pono, diversification is too boring.  Even Jim Rogers says you can't get rich being diversified.  Options are fun, too!

supdiscobay

  • Peahi Status
  • *****
  • Posts: 797
    • View Profile
    • Email
Re: Getting high on pot stocks, my latest in men's journal
« Reply #17 on: October 23, 2014, 08:08:32 PM »
Linter,
Great read and well done, except the part where you actually invested real money.  I can't believe you would do that before you wrote the piece.  It made the piece better, but...
I hope you intended to lose it as part of the cost of doing business.
8'5" Starboard Pocket Rocket, 8'0" Kazuma Fugu custom,  8'10" Kings Sidewinder, 10' Starboard Noserider, 14' BARK Carbon Dominator, SIC F16 V3, KeNalu and Quickblade paddles, 19' Eaton Prone, 67" Goode 9700

PonoBill

  • Cortez Bank Status
  • *****
  • Posts: 25864
    • View Profile
Re: Getting high on pot stocks, my latest in men's journal
« Reply #18 on: October 23, 2014, 09:10:48 PM »
Pono, diversification is too boring.  Even Jim Rogers says you can't get rich being diversified.  Options are fun, too!

There's fun, and there's flipping burgers when you're 85. I don't look to the stock market to get rich, I know how to make money in business. I know nothing about the financial markets. My only advantage is that I know I don't know.
Foote 10'4X34", SIC 17.5 V1 hollow and an EPS one in Hood River. Foote 9'0" x 31", L41 8'8", 18' Speedboard, etc. etc.

surfcowboy

  • Cortez Bank Status
  • *****
  • Posts: 4929
    • View Profile
Re: Getting high on pot stocks, my latest in men's journal
« Reply #19 on: October 23, 2014, 09:20:15 PM »
Oh man, great article.

It blows me away that all it takes to be an expert these days is to say you are an expert on the internet.

SUPcheat

  • Cortez Bank Status
  • *****
  • Posts: 2677
    • View Profile
Re: Getting high on pot stocks, my latest in men's journal
« Reply #20 on: October 23, 2014, 11:45:17 PM »
Predicting the future is not anybody's forte, much less self assigned gurus.

I have just used Vanguard's advice of sticking to index funds with low fees in an approximately 60/40 stock bond split, with overflows in TIPS index fund. Over time and lots of savings, it works.

I have a friend who has made a lot more money than me over the years.  He, however, does day trading and belongs to an "investment club" where they exchange superstition and hot tips. Of course, the exchange fees add up and he has lost a fairly stunning amount of money over the years.  I am retired three years, he needs to work for two more and he is three years older than me. He is also single, and had one divorce when he was poor, so he never got carved apart by that. 

Also, gamblers only talk about their winnings, never their losses.

« Last Edit: October 23, 2014, 11:48:03 PM by SUPcheat »
2013 Fanatic Prowave LTD 9'3"x30.5x@134L
Sunova Speeed 8'10"x29.12@131L
Sunova Flow 8'7"x30.25"@121L
Carbon 9.3x32@163L Hammer
Me: 6'1"@230 lbs 68 years old

The Kernel

  • Sunset Status
  • ****
  • Posts: 344
  • Dana Point, CA
    • View Profile
Re: Getting high on pot stocks, my latest in men's journal
« Reply #21 on: October 23, 2014, 11:53:53 PM »
Former Wall St trader myself....Came to the conclusion in NY that bulge bracket traders weren't necessarily that smart, just savvy when it came to putting things in context and analyzing situations, and ballsy enough to take calculated risks.

Then I read an article like that and am reminded of the mentality that operates out there.  Maybe the common sense survival tactics of the average trader do put them in a higher echelon by comparison.
Kernel:  Cutting through the bull**it.
"This is the kernel of the argument."

Over 50, but usually pushing it like I'm 25 and paying for it later.

8'0 L41 Simsup
9'2" T. Patterson Rising Sun
9'2" Riviera Nugg Turbo Carbon
10' Riviera Machete

blueplanetsurf

  • Site Sponsor
  • Teahupoo Status
  • *****
  • Posts: 1896
  • Hawaii's SUP HQ
    • View Profile
    • Blue Planet Surf
Re: Getting high on pot stocks, my latest in men's journal
« Reply #22 on: October 24, 2014, 12:41:00 AM »
Great story and comic insight into these characters, thank you.  Sorry you had to loose money to learn this lesson but thanks for sharing so we don't end up having to learn the hard way.  I still think there is money to be made in legalized pot but penny stocks are not the way to do it.
Robert Stehlik
Blue Planet Surf Shop, Honolulu
Hawaii's SUP HQ
http://www.blueplanetsurf.com

linter

  • Teahupoo Status
  • ******
  • Posts: 1768
    • View Profile
Re: Getting high on pot stocks, my latest in men's journal
« Reply #23 on: October 24, 2014, 05:37:17 AM »
eventho it's at my expense, i'm glad you all got a chuckle out of the story.  i did get carried away by greed but in the back of my mind, i somehow justified it by thinking i'll never lose more than i'm getting paid for the piece.  and then i did.  and then i became a bag holder.  i wonder if i can take some of the loses off on my taxes as a business expense?  wonder what the irs would think of that!

lucabrasi

  • Teahupoo Status
  • ******
  • Posts: 1813
    • View Profile
Re: Getting high on pot stocks, my latest in men's journal
« Reply #24 on: October 24, 2014, 06:11:17 AM »
i wonder if i can take some of the loses off on my taxes as a business expense?  wonder what the irs would think of that!
http://www.irs.gov/taxtopics/tc419.html
Nice article, again btw.

paddlejones

  • Sunset Status
  • ****
  • Posts: 460
    • View Profile
Re: Getting high on pot stocks, my latest in men's journal
« Reply #25 on: October 25, 2014, 09:44:53 AM »
eric,
I always enjoy your writing...
how is the search for the perfect nose riding sup going?
have you finally settled with the sup sports hammer?
jeff

 


SimplePortal 2.3.7 © 2008-2024, SimplePortal