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2005/7/11-13 [Industry/Startup, Finance/Investment] UID:38540 Activity:moderate |
7/11 I have a confession to make. I followed Warren Buffett's footsteps and put a LOT of money in foreign money using http://everbank.com. I've lost about 10% of my assetts in the past 3 months because US dollar is going back up. Putting money in everbank was the worst decision I've ever made, ever. Now that I've told you why I'm an idiot, it's your turn. \_ You're an idiot for many reasons. hmm. this is kind of fun. \_ You're an idiot, but not because you invested in foreign money. -tom \_ Nono, I'm not asking you to reiterate what I said. What I mean is that it's your turn to tell us about your bad decision, if you've made any. I made my decision based on the fact that Mr. Buffett, my hero, invested BILLIONS into foreign money, citing Euro trend, US's huge deficit, rising oil price, war, Buffett, my hero, invested 20 billion into foreign money, citing Euro trend, US's huge deficit, rising oil price, war, instability, and huge spending and outsourcing in other countries. countries. -op http://www.forbes.com/free_forbes/2005/0110/036.html \_ You are stupid because you don't understand *why* you invested in foreign money, not because foreign money went down 10% in three months. If your investment horizon is 3 months, you shouldn't be following Warren Buffett. -tom \_ yea, but buffet was in foreign money since 2 years ago, so he still made money, and is going to make more money. \_ You should invest in foreign stocks or bonds, not cash. \_ Once something is hyped up a lot, it's probably a matter of time before the smart money cashes out and the suckers get left holding the bag. \_ Isn't there a website for this sort of thing??? \_ http://grouphug.us \_ I sold all my stock in my overhyped dotcom in 2000 and re-invested in.... you guessed it, other over-hyped dotcoms. Oh well, I lost like half of it, but did much better than if I had stuck with my company, like almost all my coworkers. \_ I cheated on my psycho girlfriend with a hottie 19 year while she was out of the country... who am I kidding, that was the smartest move I ever made! I lost a pyscho girlfriend and had an affair with a 19 y.o. hottie... \_ I wired $8k to a phoney escrow site to buy a diamond so I could propose to my fiance. \_ 1) When my company stock shot up from $1 to $7 in one day because of a press release saying "Amazon.com is investing in it", I wanted to sell all my shares knowing that it would drop very soon after people realizing that the investment was just a one-time buyout, but my gf argued that I should hold because it would keep going up. I made a compromise by selling only half of the shares. The next day it kept on dropping, and she let me sell the other half at $1.43 lower. So I lost $8400 in one day. Days later the price returned to its original level. 2) Years later when my company stock went up to $48 for no real or apparent reason, I wanted to sell all my shares knowing that the company has no future, but she (now my wife) argued again, and I compromised again by selling only half. Now the stock is worth pennies. I lost $30k. Mind you that I'm not into stocks and I've only make two stock predictions in my life. In both times I was right. stocks and I don't BS about stock prices every day. I've only made two stock predictions in my life, not on some random company in the market but on a company that I've worked at for years. However she didn't listen. \_ Well, on the face of it it's stupid to listen to this gf who should know less than you since you work at the company. On the other hand, if you hadn't compromised and were wrong, you'd have had to endure lots of hell from said gf... this way you have it over her and maybe that's worth it :) \_ Why would you want to "have it over her"? I see the smiley, but really. Find someone you care about who cares about you instead of competing with your SO. \_ Dude, it doesn't matter who your SO is. You could be so besotted you'd donate an organ just for her asking; she could be a living saint. Doesn't matter. The reality is you will fight; you will act like a jerk; she will be a total bitch. Might not be all the time. Might not be very often at all. But it will happen. And when it does, you will be glad you have that you-lost-me-$30k metaphoric bazooka you can pull on her. \_ You didn't look hard enough for your SO then. \_ Not all of us are interested in a Stepford wife. Indeed, I find it incredible that there is *any* long-term relationship that does not experience some amount of conflict and disagreement. \_ You're putting your words in my mouth. There is conflict and disagreement but the answer is not to find some childish "hold" over your SO. My wife doesn't pull that garbage on me and I don't do it to her. You're still talking in terms of "winning" and "scoring points". You just don't get it. I feel bad for anyone stuck with you. \_ How enlightened of you. How do you and your wife resolve disagreements? What if she wants to buy a stantion wagon and you want an SUV? \_ Since we're both reasonably intelligent people who care more about each other than random 'stuff' like that, we discuss what would be best for our needs and do that. Is this some big shock? Why the sarcasm? Have you really never met anyone in a good relationship? You probably have and just mocked them for not abusing each other for some bizarre concept of one-upping their mate. \_ I like intelligent Stepford Wives 2.0 who is better than you at chess, driving, poetry, music, literature, AND is good in bed. Modern liberal women are bitches who don't cook and take care of the kids and run off to some other random guy to fuck when she's bored with you. \_ Conservative war-brides! -- ilyas |
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www.forbes.com/free_forbes/2005/0110/036.html The dollar has fallen savagely against the euro for the past three years, and the trade deficit is running $55 billion a month. Can the trade deficit be fixed with a rise in interest rates o r an upward revaluation of the Chinese currency? Warren Buffett, the wor ld's most visible dollar bear, says the answer to both these questions i s no. His bet against the dollar, reported at $12 billion in his last an nual report (for Dec. Now his Berk shire Hathaway has a $20 billion bet in favor of the euro, the pound and six other foreign currencies. Buffett has for a long time been lecturing fellow Americans about their b ad habit of borrowing from abroad to live well today. He made a big stin k about his currency trades in his March 2004 letter to shareholders. FO RBES phoned him recently for an update, hoping for the news that the Sco ld of Omaha had softened his views on the decline of the dollar. What we got was more doom and gloom, more than we have ever heard from the man. In other words, he is not about to cover his short position on the doll ar. Buffett said he is not adding new positions now but has been rolling over contracts as they mature. Be rkshire lost $205 million on currency speculations in the first half of 2004, but more than made that back with a $412 million gain in the third quarter. It's likely that the December quarter report will show another huge gain. Since January 2002 the dollar has fallen 33% against the euro. Buffett bl ames that on bad policy, coming from both the White House and Congress. It does appear that forex speculators are no big fans of George Bush or his Treasury secretary, John Snow. Says Buffett: "The rest of the world owns $10 trillion of us, or $3 trill ion net." That is, US claims on foreign assets run to only $7 trillion . "If lots of people try to leave the market, we'll have chaos because t hey won't get through the door." In a nutshell, the trade deficit is for cing foreign central banks to ingest US currency at a rate approaching $2 billion a day. Buffett continues: "If we have the same policies, the dollar will go down." Berkshire has a huge portfo lio of investments that includes $40 billion of Treasury securities. Bud get and trade deficits are likely to make dollars worth less and bonds w orth less. So the currency play is a partial hedge of a large position t hat can be read as bullish on the US Still, that Buffett is making a currency bet at all is striking given tha t this investor has, in his 74 years, rarely made macroeconomic bets. He built Berkshire to a $130 billion market value by acquiring parts or al l of lots of businesses, primarily in the insurance sector and primarily in the US Now some of those assets are antidollar assets. Example: In 2002 he bought bonds of Level 3, a telecom company, that were denominat ed in euros. In 2000 Berkshire picked up MidAmerican Energy, a gas pipel ine company. A continuing fall in the dollar "could cause major disruptions in financi al markets. It could be preci pitated by some exogenous event like a Long-Term Capital Management," Bu ffett says, referring to the 1998 collapse of a steeply leveraged hedge fund. How about a soft landing for our deficit-addicted economy? We're running $100 billion a year in the hole against China, but Bu ffett doesn't expect that an upward revaluation of the renminbi (stoutly resisted, in any event, by the Chinese government) would greatly reduce this number. They used to say on Wall S treet, "Six percent interest will draw money from the moon." Buffett is skeptical, though, that the recent tightening by Fed Chairman Alan Green span will do much more than "put off the day of reckoning." Stock quotes are delayed at least 15 minutes for Nasdaq, at least 20 minu tes for NYSE/AMEX US indexes are delayed at least 15 minutes with the exception of Nasdaq, Dow Jones Industrial Average and S&P 500 which are 2 minutes delayed. |
grouphug.us I had a one- 21 night stand with this guy from 22 school, and then a week and a half later I began 23 dating (and sleeping with) this other guy. I haven't kept in touch with the first guy, but two years later I'm still 24 dating the second one. I look up all this information online and I'm pretty sure it's herpes. I tell my 27 boyfriend, he asks to look at it and I show him. I go to the doctor and she's sure it IS herpes, runs a bunch of tests to be positive, checking for other STDs as well. I was 18-years-old and 28 crying 29 naked in her office and she calmly starts telling me that having this puts me at a higher risk for developing AIDS and if I do have HIV I won't be able to get 30 life insurance. I'm worried about breaking up with my 34 boyfriend and meeting someone new. I think morally I'd have to let him decide if I'm worth possibly contracting a disease over. I have so many fears about my future regarding all of this. Since she is so 38 attractive, I was too insecure to make a serious move on her while spooning. I deliberately don't do any housework so he will tell me what to do and boss me around. She pushed my hands away from her a few times, but I was 54 drunk, and wanted to show off, so I persisted for a while. I'm just glad I had the wherewithal to stop myself before going too far. I don't think anyone would have stopped me were I too 55 drunk to stop myself. |
everbank.com -> www.everbank.com/main.asp?affid=eb Bank World Currency Exchange |
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