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Hobbies or business?

Discussion in 'Shares' started by wdongli, 15th Dec, 2010.

  1. wdongli

    wdongli Well-Known Member

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    Most of market players don't think they are doing business since they don't want to do what a business ask them to do.

    If not act as you do business, you act for hobbies, which could make some money but should not be something you have to desperately be successful for money. In most of cases the hobbies cost more money than the money to be made!

    So in the market, there are too many who play the money for enjoyment,which is one of the underlying reasons of 80% lose the money!

    More thought in Blogs - Member Blogs
     
  2. wdongli

    wdongli Well-Known Member

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    Are you investors and gamblers?

    I do feel the difficult to define myself as investors or gamblers before I started to understand the risks, reward or no-reward risks, the risk intelligence, and the relationship between our market playing and business.

    If we do agree hobbies are for enjoyment and business is for making the value when manage the business risks intelligently, you invest yourself in a most promising business to update your mind and business everyday. Some wise and visionary investors later would find your value and growth potential if you could have a billionaire mind and would like to run a business!

    We should let the market know and investor know we are very promising at the very beginning since we have to put ourselves under the radars of any potential investors. We should learn to share the great ideas when overcoming our weak points such as poor spoken English!

    Business is about the actions to use your strength for best return. If you could run a market playing business and be great in asset or capital allocation, you could challenge the positions where Buffett or George Solos stay! Who knows? When the opportunities come with your right risks taking you could make the magic!
     
    Last edited by a moderator: 15th Dec, 2010
  3. wdongli

    wdongli Well-Known Member

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    Perth
    ***
    Partly agree and partly disagree.

    All of us hope for some miracle happened when we jumped into the market for quick money-whatever we called us then we are gamblers. After a decade playing, some gamblers would turn themselves to be investors but most of the gamblers fail. How many shares in hands could not decide who we are even both investors and gamblers have some shares.

    Who are you? Who make you to be investors or gamblers? It is you and me make us be investors or gamblers. If we don't change our minds with the necessities to get the profit from our market playing every year, could we call ourselves investors?

    ***
    It is not good to know "half of the stocks that I have piled up, have not reached the price that I bought," but how about another half? If you could make the butters and milks from this half, I have to say you are a reasonable good investor. If you could do so well, why don't you sell the losers for tax benefit and rebalance your portfolio?

    How much could we get from our office and workshop? How do we pay out for our salaries? If we want to be investors we should change us to be investors first. Why could you drive? You are the driver first and then you drive. Somebody said "to be a billionaire first and then find something to make billion dollars. We need to work hard for whom we want to be first.

    ***
    I am still a gambler mainly and investor a little bit. However I do feel this a little bit is vital and very powerful which help me to pass through the acid test of GFC and didn't let me lose my shirt again.

    1. Could we be excellent market student and turn us to be investors while we try to make the butters and milks in the market first? It is not easy since it asks us never lose our capital under any conditions. Could we do so?

    2. Could we get some sort of master minds, drive the investing car with the earning power for our first bucket of gold? It is a great start and then if we continue we would get more and more money for our personal legends.

    3. Could we put aside $2 millions aside as our private cash generator and run in full speed to get our destination to use our wisdom and intelligence to some extremes?

    ***
    Where are we now? We just move around in the station to see the train left without us? I have to admit one of these is me but I would not stay at the station from now. I quit my job and now I am full-time market student, which should give me the chance between my 55 - 75. If I am not extremely unlucky it should be a problem.

    Good luck for all gamblers who jumped into the market around 2000? Some of them would be great in the market!
     
  4. wdongli

    wdongli Well-Known Member

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    Location:
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    Worked on install dual boot windows system in my computer since Omnitrader Pro 2008 refused to work with Windows 7 for nearly two days, due to a silly mistake while I install Vista after OM 2008 did work with Windows XP. Windows 7 was gone and then all of data for near 2 months gone(a mistake again without backup). That let me feel shamed as I made mistakes in the market. Could we mistake free? Definitely no.

    Big or small betting is not a problem but the affordability is real one and could be very risky. Big one could afford big absolute losses but could not afford more than 40% loss of his total capital. We are small and then we should lose small absolute money, but if this small money loses are big than 40% of our total capital, we could be defeated too.

    At very beginning I played the dirty-cheap fishes by putting $2000 for each of them only; then I put $4000 since I could afford to lose more; later I put $6000; last year I put $8000; and this year I put $9,970 around but less than $10,000 to save the brokerage fee. I tried to keep the betting capital for each fish amounted about 3-4% if I could be not very emotional. All of us have different personal case and the rules and principles should be the same but quantitatively all should be different to different ones.

    So personally I don't care big or small. A small one could get great ideas and become big if the mind is good. Big boys grow up from small ones and a lot of big ones become small one even bums! I hope I could make small profit in big compound growth rate and then turn to be bigger every year. Don't want to compare with anyone but let me feel I am not so stupid as the market herd.